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      <invstOrSec>
        <name>UNITED PARCEL SERVICE INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMERICAN AIRLS GROUP INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ELBIT SYSTEMS LTD</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HUNTINGTON INGALLS INDUSTR INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Fidelity Revere Street Trust</name>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>USA TRUCK INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CAE INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WILLIS LEASE FINANCE CORP</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALLEGIANT TRAVEL CO</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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      <invstOrSec>
        <name>SKYWEST INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MESA AIR GROUP INC</name>
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        <name>RAYTHEON TECHNOLOGIES CORP</name>
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        <name>CANADIAN PACIFIC RAILWAY LTD</name>
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        <name>UNITED AIRLINES HOLDINGS INC</name>
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        <name>ALASKA AIR GROUP INC</name>
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        <name>RYDER SYSTEM INC</name>
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        <name>OTIS WORLDWIDE CORP</name>
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        <name>JETBLUE AIRWAYS CORP</name>
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        <name>HUB GROUP INC</name>
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        <name>UNION PACIFIC CORP</name>
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        <name>TEXTRON INC</name>
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        <name>RBC BEARINGS INC</name>
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        <name>HEROUX-DEVTEK INC</name>
        <lei>549300ZEMF0P4EU7CI78</lei>
        <title>HEROUX INC</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>POINTS INTL LTD</name>
        <lei>549300I9Z7TY4H2GPB21</lei>
        <title>POINTS INTERNATIONAL LTD</title>
        <cusip>730843208</cusip>
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          <isin value="CA7308432086"/>
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        <balance>155600.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CACI INTL INC</name>
        <lei>SYRPI2D1O9WRTS2WX210</lei>
        <title>CACI INTERNATIONAL INC</title>
        <cusip>127190304</cusip>
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          <isin value="US1271903049"/>
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        <balance>9200.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TRANSDIGM GROUP INC</name>
        <lei>N/A</lei>
        <title>TRANSDIGM GROUP INC</title>
        <cusip>893641100</cusip>
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          <isin value="US8936411003"/>
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        <balance>19900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9943433.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ECHO GLOBAL LOGISTICS INC</name>
        <lei>549300WRZ9Y84GWVYR04</lei>
        <title>ECHO GLOBAL LOGISTICS INC</title>
        <cusip>27875T101</cusip>
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          <isin value="US27875T1016"/>
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        <balance>71900.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AIR TRANSPORT SERVICES GROUP INC</name>
        <lei>5493000F3MSFGIXTQE27</lei>
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        <cusip>00922R105</cusip>
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          <isin value="US00922R1059"/>
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        <balance>363600.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COVENANT LOGISTICS GROUP INC</name>
        <lei>N/A</lei>
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        <cusip>22284P105</cusip>
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          <isin value="US22284P1057"/>
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        <balance>400.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VIRGIN GALACTIC HLDGS INC</name>
        <lei>N/A</lei>
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        <cusip>92766K106</cusip>
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          <isin value="US92766K1060"/>
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        <balance>123100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2203490.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LANDSTAR SYSTEM INC</name>
        <lei>254900CUQXQRL09MEI52</lei>
        <title>LANDSTAR SYSTEM INC</title>
        <cusip>515098101</cusip>
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          <isin value="US5150981018"/>
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        <balance>12400.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SPIRIT AIRLINES INC</name>
        <lei>549300DCAFIXFNFR3304</lei>
        <title>SPIRIT AIRLINES INC</title>
        <cusip>848577102</cusip>
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          <isin value="US8485771021"/>
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        <balance>11500.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HOWMET AEROSPACE INC</name>
        <lei>549300HO5WFZUT5N2T22</lei>
        <title>HOWMET AEROSPACE INC</title>
        <cusip>443201108</cusip>
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          <isin value="US4432011082"/>
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        <balance>129900.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2275848.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FTI CONSULTING INC</name>
        <lei>549300K17GM8EQD0FQ48</lei>
        <title>FTI CONSULTING INC</title>
        <cusip>302941109</cusip>
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          <isin value="US3029411093"/>
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        <balance>15400.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COPA HOLDINGS SA</name>
        <lei>529900BB9UQJV6QQHA59</lei>
        <title>COPA HOLDINGS SA CL A</title>
        <cusip>N/A</cusip>
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        <balance>40900.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>PA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CARRIER GLOBAL CORP</name>
        <lei>549300JE3W6CWY2NAN77</lei>
        <title>CARRIER GLOBAL CORP</title>
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        <balance>7370.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CH ROBINSON WORLDWIDE INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WOODWARD INC</name>
        <lei>YPYKXXTR8TFDH54ZMB45</lei>
        <title>WOODWARD INC</title>
        <cusip>980745103</cusip>
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        <balance>49700.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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        <name>MOOG INC</name>
        <lei>549300WM2I4U7OBAHG07</lei>
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        <balance>78700.00000000</balance>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>TELEDYNE TECHNOLOGIES INC</name>
        <lei>549300VSMO9KYQWDND94</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>DART GROUP PLC</name>
        <lei>I72RQ3PNLDPW8R7JIJ56</lei>
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        <name>Fidelity Revere Street Trust</name>
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        <title>Fidelity Securities Lending Cash Central Fund</title>
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        <name>CARGOJET INC</name>
        <lei>549300C4GBBANCBT3K72</lei>
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        <invCountry>CA</invCountry>
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        <name>BOEING CO</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO</title>
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        <name>PARK OHIO HLDGS CORP</name>
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        <title>PARK OHIO HLDGS CORP</title>
        <cusip>700666100</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SPIRIT AEROSYSTEMS HLDGS INC</name>
        <lei>N/A</lei>
        <title>SPIRIT AEROSYSTEM HLD INC CL A</title>
        <cusip>848574109</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>HEICO CORP NEW</name>
        <lei>529900O1DTDLCJ7L0I14</lei>
        <title>HEICO CORP CL A</title>
        <cusip>422806208</cusip>
        <identifiers>
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        <balance>45200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4039976.00000000</valUSD>
        <pctVal>1.459887132140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXPEDITORS INTL OF WASH INC</name>
        <lei>984500B055A804AB6E40</lei>
        <title>EXPEDITORS INTL OF WASH INC</title>
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          <isin value="US3021301094"/>
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        <balance>170600.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15079334.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSAL LOGISTICS HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>UNIVERSAL LOGISTICS HOLDINGS INC</title>
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        <identifiers>
          <isin value="US91388P1057"/>
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        <balance>13800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>296700.00000000</valUSD>
        <pctVal>0.107215615168</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AIR CANADA INC</name>
        <lei>4B4HI3CGXMBDC0G6BM51</lei>
        <title>AIR CANADA VTG</title>
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        <identifiers>
          <isin value="CA0089118776"/>
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        <balance>487700.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.30435000"/>
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        <pctVal>2.377999595508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOUTHWEST AIRLINES CO</name>
        <lei>UDTZ87G0STFETI6HGH41</lei>
        <title>SOUTHWEST AIRLINES CO</title>
        <cusip>844741108</cusip>
        <identifiers>
          <isin value="US8447411088"/>
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        <balance>682100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25633318.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-09-30</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>
</edgarSubmission>
