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        <balance>257810</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5929630</valUSD>
        <pctVal>1.3752277007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Air Lease Corporation</name>
        <lei>N/A</lei>
        <title>AIR LEASE CORP COMMON STOCK USD.01</title>
        <cusip>00912X302</cusip>
        <identifiers>
          <isin value="US00912X3026"/>
          <ticker value="AL "/>
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        <balance>167545</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6437078.9</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Alexander and Baldwin Inc.</name>
        <lei>N/A</lei>
        <title>ALEXANDER and BALDWIN INC REIT</title>
        <cusip>014491104</cusip>
        <identifiers>
          <isin value="US0144911049"/>
          <ticker value="ALEX "/>
        </identifiers>
        <balance>221433</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4147440.09</valUSD>
        <pctVal>0.9618938279</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>Cranswick plc</name>
        <lei>549300LDZLPU51XOSK43</lei>
        <title>CRANSWICK PLC COMMON STOCK GBP.1</title>
        <cusip>023188006</cusip>
        <identifiers>
          <isin value="GB0002318888"/>
          <ticker value="CWK "/>
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        <balance>93079</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.827164"/>
        <valUSD>3451159.44</valUSD>
        <pctVal>0.8004091421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Huron Consulting Group Inc.</name>
        <lei>549300NGVB9H6TKTLE36</lei>
        <title>HURON CONSULTING GROUP INC COMMON STOCK USD.01</title>
        <cusip>447462102</cusip>
        <identifiers>
          <isin value="US4474621020"/>
          <ticker value="HURN "/>
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        <balance>82272</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5972947.2</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>ICF International Inc.</name>
        <lei>5493003KYFDDC5B3WY64</lei>
        <title>ICF INTERNATIONAL INC COMMON STOCK USD.001</title>
        <cusip>44925C103</cusip>
        <identifiers>
          <isin value="US44925C1036"/>
          <ticker value="ICFI "/>
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        <balance>48438</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4797783.9</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ICU Medical Inc.</name>
        <lei>N/A</lei>
        <title>ICU MEDICAL INC COMMON STOCK USD.1</title>
        <cusip>44930G107</cusip>
        <identifiers>
          <isin value="US44930G1076"/>
          <ticker value="ICUI "/>
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        <balance>36229</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5705342.92</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Integra LifeSciences Holdings Corporation</name>
        <lei>WB7IJCYY8YFTENS4O147</lei>
        <title>INTEGRA LIFESCIENCES HOLDINGS COMMON STOCK USD.01</title>
        <cusip>457985208</cusip>
        <identifiers>
          <isin value="US4579852082"/>
          <ticker value="IART "/>
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        <balance>80246</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4499393.22</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>International Bancshares Corporation</name>
        <lei>549300Y16R531AU8TX77</lei>
        <title>INTERNATIONAL BANCSHARES CORP COMMON STOCK USD1.0</title>
        <cusip>459044103</cusip>
        <identifiers>
          <isin value="US4590441030"/>
          <ticker value="IBOC "/>
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        <balance>116462</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5329301.12</valUSD>
        <pctVal>1.2359966011</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      <invstOrSec>
        <name>John Bean Technologies Corporation</name>
        <lei>5493007CT6ATBZ2L6826</lei>
        <title>JOHN BEAN TECHNOLOGIES CORP COMMON STOCK USD.01</title>
        <cusip>477839104</cusip>
        <identifiers>
          <isin value="US4778391049"/>
          <ticker value="JBT "/>
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        <balance>44287</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4044731.71</valUSD>
        <pctVal>0.9380732170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      <invstOrSec>
        <name>Ziff Davis Inc.</name>
        <lei>5493008OJYGLHD7MXA18</lei>
        <title>J2 GLOBAL INC COMMON STOCK USD.01</title>
        <cusip>48123V102</cusip>
        <identifiers>
          <isin value="US48123V1026"/>
          <ticker value="JCOM "/>
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        <balance>70549</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5580425.9</valUSD>
        <pctVal>1.2942386421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      <invstOrSec>
        <name>Kemper Corporation</name>
        <lei>549300FNI1JKTRY2PV09</lei>
        <title>KEMPER CORP COMMON STOCK USD.1</title>
        <cusip>488401100</cusip>
        <identifiers>
          <isin value="US4884011002"/>
          <ticker value="KMPR "/>
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        <balance>148309</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7296802.8</valUSD>
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        <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>
        <name>PotlatchDeltic Corporation</name>
        <lei>54930084YA8UJOTXDM59</lei>
        <title>POTLATCHDELTIC CORP REIT USD1.0</title>
        <cusip>737630103</cusip>
        <identifiers>
          <isin value="US7376301039"/>
          <ticker value="PCH "/>
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        <balance>108162</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4758046.38</valUSD>
        <pctVal>1.1035085129</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>
        <name>ProAssurance Corporation</name>
        <lei>54930015E5J57R675E89</lei>
        <title>PROASSURANCE CORP COMMON STOCK USD.01</title>
        <cusip>74267C106</cusip>
        <identifiers>
          <isin value="US74267C1062"/>
          <ticker value="PRA "/>
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        <balance>311626</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5444106.22</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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>
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      <invstOrSec>
        <name>Progress Software Corporation</name>
        <lei>549300R65B3JG6972S24</lei>
        <title>PROGRESS SOFTWARE CORP COMMON STOCK USD.01</title>
        <cusip>743312100</cusip>
        <identifiers>
          <isin value="US7433121008"/>
          <ticker value="PRGS "/>
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        <balance>155490</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7844470.5</valUSD>
        <pctVal>1.8193265228</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>
        <name>Science Applications International Corporation</name>
        <lei>549300LZPNZIXQGZPZ48</lei>
        <title>SCIENCE APPLICATIONS INTERNATI COMMON STOCK USD.0001</title>
        <cusip>808625107</cusip>
        <identifiers>
          <isin value="US8086251076"/>
          <ticker value="SAIC "/>
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        <balance>44975</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4989076.75</valUSD>
        <pctVal>1.1570901637</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      <invstOrSec>
        <name>Seacoast Banking Corporation of Florida</name>
        <lei>549300V6IC06XYQYPG88</lei>
        <title>SEACOAST BANKING CORP OF FLORI COMMON STOCK USD.1</title>
        <cusip>811707801</cusip>
        <identifiers>
          <isin value="US8117078019"/>
          <ticker value="SBCF "/>
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        <balance>161130</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5025644.7</valUSD>
        <pctVal>1.1655711748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      <invstOrSec>
        <name>Sealed Air Corporation</name>
        <lei>Q0M0CZB4YN6JZ65WXI09</lei>
        <title>SEALED AIR CORP COMMON STOCK USD.1</title>
        <cusip>81211K100</cusip>
        <identifiers>
          <isin value="US81211K1007"/>
          <ticker value="SEE "/>
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        <balance>14325</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>714531</valUSD>
        <pctVal>0.1657173929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      <invstOrSec>
        <name>Shutterstock Inc.</name>
        <lei>N/A</lei>
        <title>SHUTTERSTOCK INC COMMON STOCK USD.01</title>
        <cusip>825690100</cusip>
        <identifiers>
          <isin value="US8256901005"/>
          <ticker value="SSTK "/>
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        <balance>100553</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5301154.16</valUSD>
        <pctVal>1.2294686256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Sitio Royalties Corp.</name>
        <lei>N/A</lei>
        <title>SITIO ROYALTIES CORP COMMON STOCK USD.0001</title>
        <cusip>82983N108</cusip>
        <identifiers>
          <isin value="US82983N1081"/>
          <ticker value="STR US"/>
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        <balance>195403.98</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5637404.77</valUSD>
        <pctVal>1.3074534499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Sonos Inc.</name>
        <lei>N/A</lei>
        <title>SONOS INC COMMON STOCK USD.001</title>
        <cusip>83570H108</cusip>
        <identifiers>
          <isin value="US83570H1086"/>
          <ticker value="SONO "/>
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        <balance>149402</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2524893.8</valUSD>
        <pctVal>0.5855852549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Spectrum Brands Holdings Inc.</name>
        <lei>549300JM0MJETDD30O20</lei>
        <title>SPECTRUM BRANDS HOLDINGS INC COMMON STOCK USD.01</title>
        <cusip>84790A105</cusip>
        <identifiers>
          <isin value="US84790A1051"/>
          <ticker value="SPB "/>
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        <balance>71471</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4354013.32</valUSD>
        <pctVal>1.0098032638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Spire Inc.</name>
        <lei>549300NXSY15DRY2R511</lei>
        <title>SPIRE INC COMMON STOCK USD1.0</title>
        <cusip>84857L101</cusip>
        <identifiers>
          <isin value="US84857L1017"/>
          <ticker value="SR "/>
        </identifiers>
        <balance>40760</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2806733.6</valUSD>
        <pctVal>0.6509508680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Sterling Check Corp.</name>
        <lei>N/A</lei>
        <title>STERLING CHECK CORP COMMON STOCK USD.01</title>
        <cusip>85917T109</cusip>
        <identifiers>
          <isin value="US85917T1097"/>
          <ticker value="STER US"/>
        </identifiers>
        <balance>247691</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3831779.77</valUSD>
        <pctVal>0.8886844007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="50320.000000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Synovus Financial Corp.</name>
        <lei>549300EIUS8UN5JTLE54</lei>
        <title>SYNOVUS FINANCIAL CORP COMMON STOCK USD1.0</title>
        <cusip>87161C501</cusip>
        <identifiers>
          <isin value="US87161C5013"/>
          <ticker value="SNV "/>
        </identifiers>
        <balance>170884</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6416694.2</valUSD>
        <pctVal>1.4881899226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Syneos Health Inc.</name>
        <lei>549300F1ZGKDS8P6GU13</lei>
        <title>SYNEOS HEALTH INC COMMON STOCK USD.01</title>
        <cusip>87166B102</cusip>
        <identifiers>
          <isin value="US87166B1026"/>
          <ticker value="SYNH "/>
        </identifiers>
        <balance>96341</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3533787.88</valUSD>
        <pctVal>0.8195727189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Tri Pointe Homes Inc.</name>
        <lei>N/A</lei>
        <title>TRI POINTE GROUP INC COMMON STOCK USD.01</title>
        <cusip>87265H109</cusip>
        <identifiers>
          <isin value="US87265H1095"/>
          <ticker value="TPH "/>
        </identifiers>
        <balance>286747</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5330626.73</valUSD>
        <pctVal>1.2363040428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Thermon Group Holdings Inc.</name>
        <lei>N/A</lei>
        <title>THERMON GROUP HOLDINGS INC COMMON STOCK USD.001</title>
        <cusip>88362T103</cusip>
        <identifiers>
          <isin value="US88362T1034"/>
          <ticker value="THR "/>
        </identifiers>
        <balance>217275</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4362882</valUSD>
        <pctVal>1.0118601298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>TriMas Corporation</name>
        <lei>75G1WUQ8QK4P5MZOYD78</lei>
        <title>TRIMAS CORP COMMON STOCK USD.01</title>
        <cusip>896215209</cusip>
        <identifiers>
          <isin value="US8962152091"/>
          <ticker value="TRS "/>
        </identifiers>
        <balance>335515</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9307186.1</valUSD>
        <pctVal>2.1585664098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>UGI Corporation</name>
        <lei>DX6GCWD4Q1JO9CRE5I40</lei>
        <title>UGI CORP COMMON STOCK</title>
        <cusip>902681105</cusip>
        <identifiers>
          <isin value="US9026811052"/>
          <ticker value="UGI "/>
        </identifiers>
        <balance>8072</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>299229.04</valUSD>
        <pctVal>0.0693986074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>UniFirst Corporation</name>
        <lei>5493003XBTNWBC8UK019</lei>
        <title>UNIFIRST CORP/MA COMMON STOCK USD.1</title>
        <cusip>904708104</cusip>
        <identifiers>
          <isin value="US9047081040"/>
          <ticker value="UNF "/>
        </identifiers>
        <balance>31363</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6052745.37</valUSD>
        <pctVal>1.4037811969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>United Natural Foods Inc.</name>
        <lei>549300GKGW6WPZ282D40</lei>
        <title>UNITED NATURAL FOODS INC COMMON STOCK USD.01</title>
        <cusip>911163103</cusip>
        <identifiers>
          <isin value="US9111631035"/>
          <ticker value="UNFI "/>
        </identifiers>
        <balance>126182</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4884505.22</valUSD>
        <pctVal>1.1328374423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Visteon Corporation</name>
        <lei>N/A</lei>
        <title>VISTEON CORP COMMON STOCK</title>
        <cusip>92839U206</cusip>
        <identifiers>
          <isin value="US92839U2069"/>
          <ticker value="VC "/>
        </identifiers>
        <balance>37830</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4949298.9</valUSD>
        <pctVal>1.1478646975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>WNS (Holdings) Limited</name>
        <lei>N/A</lei>
        <title>WNS HOLDINGS LTD ADR USD.16</title>
        <cusip>92932M101</cusip>
        <identifiers>
          <isin value="US92932M1018"/>
          <ticker value="WNS "/>
        </identifiers>
        <balance>76754</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6139552.46</valUSD>
        <pctVal>1.4239139058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Webster Financial Corporation</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
        <title>WEBSTER FINANCIAL CORP COMMON STOCK USD.01</title>
        <cusip>947890109</cusip>
        <identifiers>
          <isin value="US9478901096"/>
          <ticker value="WBS "/>
        </identifiers>
        <balance>9143</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>432829.62</valUSD>
        <pctVal>0.1003838828</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>WideOpenWest Inc.</name>
        <lei>N/A</lei>
        <title>WIDEOPENWEST INC COMMON STOCK USD.01</title>
        <cusip>96758W101</cusip>
        <identifiers>
          <isin value="US96758W1018"/>
          <ticker value="WOW "/>
        </identifiers>
        <balance>256704</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2338573.44</valUSD>
        <pctVal>0.5423729600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Wyndham Hotels and Resorts Inc.</name>
        <lei>N/A</lei>
        <title>WYNDHAM HOTELS and RESORTS INC COMMON STOCK USD.01</title>
        <cusip>98311A105</cusip>
        <identifiers>
          <isin value="US98311A1051"/>
          <ticker value="WH "/>
        </identifiers>
        <balance>52441</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3739567.71</valUSD>
        <pctVal>0.8672981457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Onto Innovation Inc.</name>
        <lei>N/A</lei>
        <title>ONTO INNOVATION INC COMMON STOCK</title>
        <cusip>683344105</cusip>
        <identifiers>
          <isin value="US6833441057"/>
          <ticker value="ONTO "/>
        </identifiers>
        <balance>21230</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1445550.7</valUSD>
        <pctVal>0.3352589226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      <invstOrSec>
        <name>Owens and Minor Inc.</name>
        <lei>549300LMT5KQQXCEZ733</lei>
        <title>OWENS and MINOR INC COMMON STOCK USD2.0</title>
        <cusip>690732102</cusip>
        <identifiers>
          <isin value="US6907321029"/>
          <ticker value="OMI "/>
        </identifiers>
        <balance>189014</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3691443.42</valUSD>
        <pctVal>0.8561369338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Pebblebrook Hotel Trust</name>
        <lei>N/A</lei>
        <title>PEBBLEBROOK HOTEL TRUST REIT USD.01</title>
        <cusip>70509V100</cusip>
        <identifiers>
          <isin value="US70509V1008"/>
          <ticker value="PEB "/>
        </identifiers>
        <balance>357812</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4791102.68</valUSD>
        <pctVal>1.1111750856</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Perficient Inc.</name>
        <lei>549300HTBXKL2755T650</lei>
        <title>PERFICIENT INC COMMON STOCK USD.001</title>
        <cusip>71375U101</cusip>
        <identifiers>
          <isin value="US71375U1016"/>
          <ticker value="PRFT "/>
        </identifiers>
        <balance>40229</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2809191.07</valUSD>
        <pctVal>0.6515208160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Phillips Edison and Company Inc.</name>
        <lei>N/A</lei>
        <title>PHILLIPS EDISON and CO INC REIT USD.01</title>
        <cusip>71844V201</cusip>
        <identifiers>
          <isin value="US71844V2016"/>
          <ticker value="PECO US"/>
        </identifiers>
        <balance>162128</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5162155.52</valUSD>
        <pctVal>1.1972314068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Portland General Electric Company</name>
        <lei>GJOUP9M7C39GLSK9R870</lei>
        <title>PORTLAND GENERAL ELECTRIC CO COMMON STOCK</title>
        <cusip>736508847</cusip>
        <identifiers>
          <isin value="US7365088472"/>
          <ticker value="POR "/>
        </identifiers>
        <balance>82686</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4051614</valUSD>
        <pctVal>0.9396693901</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Post Holdings Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>POST HOLDINGS INC COMMON STOCK USD.01</title>
        <cusip>737446104</cusip>
        <identifiers>
          <isin value="US7374461041"/>
          <ticker value="POST "/>
        </identifiers>
        <balance>4098</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>369885.48</valUSD>
        <pctVal>0.0857855816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>RPT Realty</name>
        <lei>N/A</lei>
        <title>RPT REALTY REIT USD.01</title>
        <cusip>74971D101</cusip>
        <identifiers>
          <isin value="US74971D1019"/>
          <ticker value="RPT "/>
        </identifiers>
        <balance>635337</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6378783.48</valUSD>
        <pctVal>1.4793974900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Reinsurance Group of America Incorporated</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>REINSURANCE GROUP OF AMERICA I COMMON STOCK USD.01</title>
        <cusip>759351604</cusip>
        <identifiers>
          <isin value="US7593516047"/>
          <ticker value="RGA "/>
        </identifiers>
        <balance>5050</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>717554.5</valUSD>
        <pctVal>0.1664186172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>SP Plus Corporation</name>
        <lei>0IDE18EMH1CUKQCUYE69</lei>
        <title>SP PLUS CORP COMMON STOCK USD.001</title>
        <cusip>78469C103</cusip>
        <identifiers>
          <isin value="US78469C1036"/>
          <ticker value="SP "/>
        </identifiers>
        <balance>220171</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7644337.12</valUSD>
        <pctVal>1.7729106472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Mativ Holdings Inc.</name>
        <lei>549300Z1FU4IDULG1R21</lei>
        <title>SCHWEITZER-MAUDUIT INTERNATION COMMON STOCK USD.1</title>
        <cusip>808541106</cusip>
        <identifiers>
          <isin value="US8085411069"/>
          <ticker value="SWM "/>
        </identifiers>
        <balance>304606</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6366265.4</valUSD>
        <pctVal>1.4764942380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Kimco Realty Corporation</name>
        <lei>N/A</lei>
        <title>KIMCO REALTY CORP REIT USD.01</title>
        <cusip>49446R109</cusip>
        <identifiers>
          <isin value="US49446R1095"/>
          <ticker value="KIM "/>
        </identifiers>
        <balance>16667</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>353007.06</valUSD>
        <pctVal>0.0818710590</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Kontoor Brands Inc.</name>
        <lei>N/A</lei>
        <title>KONTOOR BRANDS INC COMMON STOCK</title>
        <cusip>50050N103</cusip>
        <identifiers>
          <isin value="US50050N1037"/>
          <ticker value="KTB "/>
        </identifiers>
        <balance>174360</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6972656.4</valUSD>
        <pctVal>1.6171312930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Leonardo DRS Inc</name>
        <lei>N/A</lei>
        <title>LEONARDO DRS INC COMMON STOCK</title>
        <cusip>52661A108</cusip>
        <identifiers>
          <isin value="US52661A1088"/>
          <ticker value="DRS US"/>
        </identifiers>
        <balance>32000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>408960</valUSD>
        <pctVal>0.0948479282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>LXP Industrial Trust</name>
        <lei>549300S4MH2ICXDBFV43</lei>
        <title>LEXINGTON REALTY TRUST REIT USD.0001</title>
        <cusip>529043101</cusip>
        <identifiers>
          <isin value="US5290431015"/>
          <ticker value="LXP "/>
        </identifiers>
        <balance>322052</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3226961.04</valUSD>
        <pctVal>0.7484119939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Luxfer Holdings PLC</name>
        <lei>N/A</lei>
        <title>LUXFER HOLDINGS PLC COMMON STOCK USD.5</title>
        <cusip>550678106</cusip>
        <identifiers>
          <isin value="GB00BNK03D49"/>
          <ticker value="LXFR US"/>
        </identifiers>
        <balance>303098</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4158504.56</valUSD>
        <pctVal>0.9644599519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Monro Inc.</name>
        <lei>N/A</lei>
        <title>MONRO INC COMMON STOCK USD.01</title>
        <cusip>610236101</cusip>
        <identifiers>
          <isin value="US6102361010"/>
          <ticker value="MNRO "/>
        </identifiers>
        <balance>136328</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6162025.6</valUSD>
        <pctVal>1.4291259822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>NMI Holdings Inc.</name>
        <lei>N/A</lei>
        <title>NMI HOLDINGS INC COMMON STOCK USD.01</title>
        <cusip>629209305</cusip>
        <identifiers>
          <isin value="US6292093050"/>
          <ticker value="NMIH "/>
        </identifiers>
        <balance>231143</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4830888.7</valUSD>
        <pctVal>1.1204024466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>National Bank Holdings Corporation</name>
        <lei>N/A</lei>
        <title>NATIONAL BANK HOLDINGS CORP COMMON STOCK</title>
        <cusip>633707104</cusip>
        <identifiers>
          <isin value="US6337071046"/>
          <ticker value="NBHC "/>
        </identifiers>
        <balance>136964</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5762075.48</valUSD>
        <pctVal>1.3363676678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>National Instruments Corporation</name>
        <lei>549300TP4OOPCYWDUP86</lei>
        <title>NATIONAL INSTRUMENTS CORP COMMON STOCK USD.01</title>
        <cusip>636518102</cusip>
        <identifiers>
          <isin value="US6365181022"/>
          <ticker value="NATI "/>
        </identifiers>
        <balance>129075</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4762867.5</valUSD>
        <pctVal>1.1046266497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>New Jersey Resources Corporation</name>
        <lei>549300QKBSQBIX4DQ583</lei>
        <title>NEW JERSEY RESOURCES CORP COMMON STOCK USD2.5</title>
        <cusip>646025106</cusip>
        <identifiers>
          <isin value="US6460251068"/>
          <ticker value="NJR "/>
        </identifiers>
        <balance>88328</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4382835.36</valUSD>
        <pctVal>1.0164878070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Chord Energy Corporation</name>
        <lei>N/A</lei>
        <title>OASIS PETROLEUM INC COMMON STOCK</title>
        <cusip>674215207</cusip>
        <identifiers>
          <isin value="US6742152076"/>
          <ticker value="OAS "/>
        </identifiers>
        <balance>37800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5171418</valUSD>
        <pctVal>1.1993796047</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>JH COLLATERAL</name>
        <lei>N/A</lei>
        <title>JH COLLATERAL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="926EMC902"/>
        </identifiers>
        <balance>5187.13</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51849.48</valUSD>
        <pctVal>0.0120251755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="51849.480000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Centerspace</name>
        <lei>N/A</lei>
        <title>CENTERSPACE REIT</title>
        <cusip>15202L107</cusip>
        <identifiers>
          <isin value="US15202L1070"/>
          <ticker value="CSR "/>
        </identifiers>
        <balance>80382</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4716011.94</valUSD>
        <pctVal>1.0937596877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Century Communities Inc.</name>
        <lei>N/A</lei>
        <title>CENTURY COMMUNITIES INC COMMON STOCK USD.01</title>
        <cusip>156504300</cusip>
        <identifiers>
          <isin value="US1565043007"/>
          <ticker value="CCS "/>
        </identifiers>
        <balance>105109</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5256501.09</valUSD>
        <pctVal>1.2191124755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Clean Harbors Inc.</name>
        <lei>N/A</lei>
        <title>CLEAN HARBORS INC COMMON STOCK USD.01</title>
        <cusip>184496107</cusip>
        <identifiers>
          <isin value="US1844961078"/>
          <ticker value="CLH "/>
        </identifiers>
        <balance>3699</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>422129.88</valUSD>
        <pctVal>0.0979023488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Concentrix Corporation</name>
        <lei>N/A</lei>
        <title>CONCENTRIX CORP COMMON STOCK</title>
        <cusip>20602D101</cusip>
        <identifiers>
          <isin value="US20602D1019"/>
          <ticker value="CNXC "/>
        </identifiers>
        <balance>4544</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>605079.04</valUSD>
        <pctVal>0.1403327791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Deckers Outdoor Corporation</name>
        <lei>5493008LG4W3I6K8J118</lei>
        <title>DECKERS OUTDOOR CORP COMMON STOCK USD.01</title>
        <cusip>243537107</cusip>
        <identifiers>
          <isin value="US2435371073"/>
          <ticker value="DECK "/>
        </identifiers>
        <balance>1413</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>564013.08</valUSD>
        <pctVal>0.1308085684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Eastern Bankshares Inc.</name>
        <lei>N/A</lei>
        <title>EASTERN BANKSHARES INC COMMON STOCK USD.01</title>
        <cusip>27627N105</cusip>
        <identifiers>
          <isin value="US27627N1054"/>
          <ticker value="EBC "/>
        </identifiers>
        <balance>292302</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5042209.5</valUSD>
        <pctVal>1.1694129612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Element Solutions Inc</name>
        <lei>549300FLGN6P5CU20J91</lei>
        <title>ELEMENT SOLUTIONS INC COMMON STOCK USD.01</title>
        <cusip>28618M106</cusip>
        <identifiers>
          <isin value="US28618M1062"/>
          <ticker value="ESI "/>
        </identifiers>
        <balance>441789</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8036141.91</valUSD>
        <pctVal>1.8637798584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>ePlus inc.</name>
        <lei>N/A</lei>
        <title>EPLUS INC COMMON STOCK USD.01</title>
        <cusip>294268107</cusip>
        <identifiers>
          <isin value="US2942681071"/>
          <ticker value="PLUS "/>
        </identifiers>
        <balance>107526</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4761251.28</valUSD>
        <pctVal>1.1042518084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>First Busey Corporation</name>
        <lei>549300X4ZNLYSX7GUY60</lei>
        <title>FIRST BUSEY CORP COMMON STOCK USD.001</title>
        <cusip>319383204</cusip>
        <identifiers>
          <isin value="US3193832041"/>
          <ticker value="BUSE "/>
        </identifiers>
        <balance>233081</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5761762.32</valUSD>
        <pctVal>1.3362950382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>First Citizens BancShares Inc.</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>FIRST CITIZENS BANCSHARES INC/ COMMON STOCK USD1.0</title>
        <cusip>31946M103</cusip>
        <identifiers>
          <isin value="US31946M1036"/>
          <ticker value="FCNCA US"/>
        </identifiers>
        <balance>844</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>640055.84</valUSD>
        <pctVal>0.1484447632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>First Interstate BancSystem Inc.</name>
        <lei>N/A</lei>
        <title>FIRST INTERSTATE BANCSYSTEM IN COMMON STOCK</title>
        <cusip>32055Y201</cusip>
        <identifiers>
          <isin value="US32055Y2019"/>
          <ticker value="FIBK "/>
        </identifiers>
        <balance>144675</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5591688.75</valUSD>
        <pctVal>1.2968507753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>1st Source Corporation</name>
        <lei>N/A</lei>
        <title>1ST SOURCE CORP COMMON STOCK</title>
        <cusip>336901103</cusip>
        <identifiers>
          <isin value="US3369011032"/>
          <ticker value="SRCE "/>
        </identifiers>
        <balance>98717</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5240885.53</valUSD>
        <pctVal>1.2154908413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Five Below Inc.</name>
        <lei>N/A</lei>
        <title>FIVE BELOW INC COMMON STOCK USD.01</title>
        <cusip>33829M101</cusip>
        <identifiers>
          <isin value="US33829M1018"/>
          <ticker value="FIVE "/>
        </identifiers>
        <balance>3094</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>547235.78</valUSD>
        <pctVal>0.1269174980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Flushing Financial Corporation</name>
        <lei>N/A</lei>
        <title>FLUSHING FINANCIAL CORP COMMON STOCK USD.01</title>
        <cusip>343873105</cusip>
        <identifiers>
          <isin value="US3438731057"/>
          <ticker value="FFIC "/>
        </identifiers>
        <balance>227867</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4416062.46</valUSD>
        <pctVal>1.0241939924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Fortune Brands Innovations Inc.</name>
        <lei>54930032LHW54PQUJD44</lei>
        <title>FORTUNE BRANDS HOME and SECURITY COMMON STOCK USD.01</title>
        <cusip>34964C106</cusip>
        <identifiers>
          <isin value="US34964C1062"/>
          <ticker value="FBHS "/>
        </identifiers>
        <balance>6359</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>363162.49</valUSD>
        <pctVal>0.0842263541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>H.B. Fuller Company</name>
        <lei>JSMX3Z5FOYM8V0Q52357</lei>
        <title>HB FULLER CO COMMON STOCK USD1.0</title>
        <cusip>359694106</cusip>
        <identifiers>
          <isin value="US3596941068"/>
          <ticker value="FUL "/>
        </identifiers>
        <balance>69859</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5003301.58</valUSD>
        <pctVal>1.1603892533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>GATX Corporation</name>
        <lei>549300IHYHCQP2PIR591</lei>
        <title>GATX CORP COMMON STOCK USD.625</title>
        <cusip>361448103</cusip>
        <identifiers>
          <isin value="US3614481030"/>
          <ticker value="GATX "/>
        </identifiers>
        <balance>55355</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5886450.7</valUSD>
        <pctVal>1.3652133542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Gentherm Incorporated</name>
        <lei>HKM6YX1U5JS60TCUB219</lei>
        <title>GENTHERM INC COMMON STOCK</title>
        <cusip>37253A103</cusip>
        <identifiers>
          <isin value="US37253A1034"/>
          <ticker value="THRM "/>
        </identifiers>
        <balance>26995</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1762503.55</valUSD>
        <pctVal>0.4087681195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Haemonetics Corporation</name>
        <lei>549300ZEL6TXZS6F5F95</lei>
        <title>HAEMONETICS CORP COMMON STOCK USD.01</title>
        <cusip>405024100</cusip>
        <identifiers>
          <isin value="US4050241003"/>
          <ticker value="HAE "/>
        </identifiers>
        <balance>60703</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4774290.95</valUSD>
        <pctVal>1.1072760300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Hancock Whitney Corporation</name>
        <lei>549300GRNBWY8HIICT41</lei>
        <title>HANCOCK WHITNEY CORP COMMON STOCK USD3.33</title>
        <cusip>410120109</cusip>
        <identifiers>
          <isin value="US4101201097"/>
          <ticker value="HWC "/>
        </identifiers>
        <balance>130771</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6328008.69</valUSD>
        <pctVal>1.4676215617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Hexcel Corporation</name>
        <lei>S6Q7LW43WUBUHXY2QP69</lei>
        <title>HEXCEL CORP COMMON STOCK USD.01</title>
        <cusip>428291108</cusip>
        <identifiers>
          <isin value="US4282911084"/>
          <ticker value="HXL "/>
        </identifiers>
        <balance>77949</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4587298.65</valUSD>
        <pctVal>1.0639078956</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
      <invstOrSec>
        <name>Houlihan Lokey Inc.</name>
        <lei>549300S3CNGTQ1QZVY46</lei>
        <title>HOULIHAN LOKEY INC COMMON STOCK USD.001</title>
        <cusip>441593100</cusip>
        <identifiers>
          <isin value="US4415931009"/>
          <ticker value="HLI "/>
        </identifiers>
        <balance>27068</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2359246.88</valUSD>
        <pctVal>0.5471676415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
    <explntrNotes>
      <explntrNote note="Returns are reported without deduction of sales loads and redemption fees, if applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2023-01-30</ncom:dateSigned>
      <ncom:nameOfApplicant>John Hancock Variable Insurance Trust</ncom:nameOfApplicant>
      <ncom:signature>/s/Salvatore Schiavone</ncom:signature>
      <ncom:signerName>Salvatore Schiavone</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
