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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ATLAS AIR WORLDWIDE HLDGS INC</name>
        <lei>549300R0A2TUVCYZB465</lei>
        <title>ATLAS AIR WORLDWIDE HLDGS WI</title>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HUB GROUP INC</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>COPA HOLDINGS SA</name>
        <lei>529900BB9UQJV6QQHA59</lei>
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        <cusip>N/A</cusip>
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          <isin value="PAP310761054"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HAWAIIAN HOLDINGS INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WILLIS LEASE FINANCE CORP</name>
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          <isin value="US9706461053"/>
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        <balance>12500.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CH ROBINSON WORLDWIDE INC</name>
        <lei>529900WNWN5L0OVDHA79</lei>
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          <isin value="US12541W2098"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EXPEDITORS INTL OF WASH INC</name>
        <lei>984500B055A804AB6E40</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MACQUARIE INFRASTRUCTURE CORP</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HUNT (JB) TRANSPORT SERVICES</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MARTEN TRANSPORT LTD</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DISNEY (WALT) CO</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNION PACIFIC CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>FEDEX CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>US XPRESS ENTERPRISES INC</name>
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        <name>RYDER SYSTEM INC</name>
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        <name>TFI INTERNATIONAL INC</name>
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        <name>HUNTINGTON INGALLS INDUSTR INC</name>
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        <name>LANDSTAR SYSTEM INC</name>
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        <name>NORFOLK SOUTHERN CORP</name>
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        <name>ECHO GLOBAL LOGISTICS INC</name>
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        <name>POINTS INTL LTD</name>
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        <title>POINTS INTERNATIONAL LTD</title>
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        <name>TFI INTERNATIONAL INC</name>
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        <name>SKYWEST INC</name>
        <lei>529900UYS2KGS6Z42P09</lei>
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        <name>OLD DOMINION FREIGHT LINES INC</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Fidelity Revere Street Trust</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALASKA AIR GROUP INC</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>AIR TRANSPORT SERVICES GROUP INC</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Fidelity Revere Street Trust</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SOUTHWEST AIRLINES CO</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>AERCAP HOLDINGS NV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CACI INTL INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SCHNEIDER NATIONAL INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AP MOLLER MAERSK AS</name>
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        <name>WERNER ENTERPRISES INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MATSON INC</name>
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        <name>NORTHROP GRUMMAN CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>UNIVERSAL LOGISTICS HOLDINGS INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>XPO LOGISTICS INC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>KANSAS CITY SOUTHERN</name>
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        <title>KANSAS CITY SOUTHERN</title>
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        <name>CSX CORP</name>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>FTI CONSULTING INC</name>
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        <title>FTI CONSULTING INC</title>
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        <balance>1200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>144552.00000000</valUSD>
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      <invstOrSec>
        <name>KIRBY CORP</name>
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      </invstOrSec>
      <invstOrSec>
        <name>JETBLUE AIRWAYS CORP</name>
        <lei>54930070J9H97ZO93T57</lei>
        <title>JETBLUE AIRWAYS CORP</title>
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        <curCd>USD</curCd>
        <valUSD>639445.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Stacie M. Smith</ncom:nameOfApplicant>
      <ncom:signature>Stacie M. Smith</ncom:signature>
      <ncom:signerName>Stacie M. Smith</ncom:signerName>
      <ncom:title>President and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
