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        <name>Nucor Corp</name>
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        <name>Phillips 66</name>
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        <name>J M Smucker Co/The</name>
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        <name>Biogen Inc</name>
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        <name>BJ's Wholesale Club Holdings Inc</name>
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        <name>Cummins Inc</name>
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        <name>Becton Dickinson &amp; Co</name>
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        <name>Occidental Petroleum Corp</name>
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        <name>Kellogg Co</name>
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        <name>Trane Technologies PLC</name>
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        <name>Chicago Mercantile Exchange</name>
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        <name>Johnson Controls International plc</name>
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        <name>Cigna Group/The</name>
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        <name>CVS Health Corp</name>
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        <name>Coca-Cola Co/The</name>
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        <name>Steel Dynamics Inc</name>
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        <name>American Financial Group Inc/OH</name>
        <lei>549300AFOM7IVKIU1G39</lei>
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        <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>CoStar Group Inc</name>
        <lei>N/A</lei>
        <title>CoStar Group, Inc.</title>
        <cusip>22160N109</cusip>
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          <isin value="US22160N1090"/>
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        <balance>49700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3421845.00000000</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Hershey Co/The</name>
        <lei>21X2CX66SU2BR6QTAD08</lei>
        <title>Hershey Co.</title>
        <cusip>427866108</cusip>
        <identifiers>
          <isin value="US4278661081"/>
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        <balance>29100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7403331.00000000</valUSD>
        <pctVal>1.706533070753</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>Netflix Inc</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix, Inc.</title>
        <cusip>64110L106</cusip>
        <identifiers>
          <isin value="US64110L1061"/>
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        <balance>26600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9189768.00000000</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>Xylem Inc/NY</name>
        <lei>549300DF5MV96DRYLQ48</lei>
        <title>Xylem, Inc.</title>
        <cusip>98419M100</cusip>
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          <isin value="US98419M1009"/>
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        <balance>13800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1444860.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206R102</cusip>
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          <isin value="US00206R1023"/>
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        <balance>504500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9711625.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Amgen Inc</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
        <cusip>031162100</cusip>
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          <isin value="US0311621009"/>
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        <balance>43600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10540300.00000000</valUSD>
        <pctVal>2.429632083945</pctVal>
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        <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>Synchrony Financial</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial</title>
        <cusip>87165B103</cusip>
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          <isin value="US87165B1035"/>
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        <balance>247300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7191484.00000000</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>
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      <invstOrSec>
        <name>Ford Motor Co</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co.</title>
        <cusip>345370860</cusip>
        <identifiers>
          <isin value="US3453708600"/>
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        <balance>451700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5691420.00000000</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>
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      <invstOrSec>
        <name>Goldman Sachs Group Inc/The</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc.</title>
        <cusip>38141G104</cusip>
        <identifiers>
          <isin value="US38141G1040"/>
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        <balance>12000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3925320.00000000</valUSD>
        <pctVal>0.904820869591</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>Rollins Inc</name>
        <lei>549300F2A0BXT4SGWD84</lei>
        <title>Rollins, Inc.</title>
        <cusip>775711104</cusip>
        <identifiers>
          <isin value="US7757111049"/>
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        <balance>166850.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6261880.50000000</valUSD>
        <pctVal>1.443418666321</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>APA Corp</name>
        <lei>549300VCIWLRHYVSHC79</lei>
        <title>APA Corp.</title>
        <cusip>03743Q108</cusip>
        <identifiers>
          <isin value="US03743Q1085"/>
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        <balance>178500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6436710.00000000</valUSD>
        <pctVal>1.483718407545</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>Analog Devices Inc</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
        <title>Analog Devices, Inc.</title>
        <cusip>032654105</cusip>
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          <isin value="US0326541051"/>
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        <balance>38800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7652136.00000000</valUSD>
        <pctVal>1.763884816970</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>MetLife Inc</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife, Inc.</title>
        <cusip>59156R108</cusip>
        <identifiers>
          <isin value="US59156R1086"/>
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        <balance>121600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7045504.00000000</valUSD>
        <pctVal>1.624050792289</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>MGM Resorts International</name>
        <lei>54930066VBP7DZEGGJ87</lei>
        <title>MGM Resorts International</title>
        <cusip>552953101</cusip>
        <identifiers>
          <isin value="US5529531015"/>
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        <balance>164100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7289322.00000000</valUSD>
        <pctVal>1.680252991035</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>Aflac Inc</name>
        <lei>549300N0B7DOGLXWPP39</lei>
        <title>Aflac, Inc.</title>
        <cusip>001055102</cusip>
        <identifiers>
          <isin value="US0010551028"/>
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        <balance>16400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1058128.00000000</valUSD>
        <pctVal>0.243907833526</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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      <invstOrSec>
        <name>VeriSign Inc</name>
        <lei>LMPL4N8ZOJRMF0KOF759</lei>
        <title>VeriSign, Inc.</title>
        <cusip>92343E102</cusip>
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          <isin value="US92343E1029"/>
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        <balance>31000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6551230.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Verizon Communications Inc</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
        <cusip>92343V104</cusip>
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          <isin value="US92343V1044"/>
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        <balance>230900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8979701.00000000</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>Rocket Cos Inc</name>
        <lei>N/A</lei>
        <title>Rocket Cos., Inc.</title>
        <cusip>77311W101</cusip>
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          <isin value="US77311W1018"/>
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        <balance>301200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2728872.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Allstate Corp/The</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>Allstate Corp.</title>
        <cusip>020002101</cusip>
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        <valUSD>2110376.45000000</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>Cleveland-Cliffs Inc</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>Cleveland-Cliffs, Inc.</title>
        <cusip>185899101</cusip>
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          <isin value="US1858991011"/>
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        <balance>431200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7903896.00000000</valUSD>
        <pctVal>1.821917716741</pctVal>
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        <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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      <invstOrSec>
        <name>LyondellBasell Industries NV</name>
        <lei>BN6WCCZ8OVP3ITUUVN49</lei>
        <title>LyondellBasell Industries NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0009434992"/>
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        <balance>55900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5248451.00000000</valUSD>
        <pctVal>1.209814231152</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Credit Acceptance Corp</name>
        <lei>N/A</lei>
        <title>Credit Acceptance Corp.</title>
        <cusip>225310101</cusip>
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          <isin value="US2253101016"/>
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        <balance>6000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2616240.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ally Financial Inc</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>Ally Financial, Inc.</title>
        <cusip>02005N100</cusip>
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        <curCd>USD</curCd>
        <valUSD>6826222.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Antero Resources Corp</name>
        <lei>APVBKPOULHUX7YZLKU17</lei>
        <title>Antero Resources Corp.</title>
        <cusip>03674X106</cusip>
        <identifiers>
          <isin value="US03674X1063"/>
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        <balance>88100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2034229.00000000</valUSD>
        <pctVal>0.468907720320</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>American Beacon U.S. Government Money Market</name>
        <lei>549300EXCES9V5RWB620</lei>
        <title>American Beacon U.S. Government Money Market</title>
        <cusip>02368W200</cusip>
        <identifiers>
          <isin value="US02368W2008"/>
        </identifiers>
        <balance>9989425.82000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9989425.82000000</valUSD>
        <pctVal>2.302650728391</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tapestry Inc</name>
        <lei>549300LJNVY5SW3VTN33</lei>
        <title>Tapestry, Inc.</title>
        <cusip>876030107</cusip>
        <identifiers>
          <isin value="US8760301072"/>
        </identifiers>
        <balance>176000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7587360.00000000</valUSD>
        <pctVal>1.748953377839</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>Keysight Technologies Inc</name>
        <lei>549300GLKVIO8YRCYN02</lei>
        <title>Keysight Technologies, Inc.</title>
        <cusip>49338L103</cusip>
        <identifiers>
          <isin value="US49338L1035"/>
        </identifiers>
        <balance>54700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8832956.00000000</valUSD>
        <pctVal>2.036074238273</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>Ovintiv Inc</name>
        <lei>2549003MEX7YMKLGI239</lei>
        <title>Ovintiv, Inc.</title>
        <cusip>69047Q102</cusip>
        <identifiers>
          <isin value="US69047Q1022"/>
        </identifiers>
        <balance>53200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1919456.00000000</valUSD>
        <pctVal>0.442451531865</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>Builders FirstSource Inc</name>
        <lei>549300W0SKP6L3H7DP63</lei>
        <title>Builders FirstSource, Inc.</title>
        <cusip>12008R107</cusip>
        <identifiers>
          <isin value="US12008R1077"/>
        </identifiers>
        <balance>92800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8238784.00000000</valUSD>
        <pctVal>1.899112353452</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>Jefferies Financial Group Inc</name>
        <lei>549300HOF34RGOJ5YL07</lei>
        <title>Jefferies Financial Group, Inc.</title>
        <cusip>47233W109</cusip>
        <identifiers>
          <isin value="US47233W1099"/>
        </identifiers>
        <balance>106800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3389832.00000000</valUSD>
        <pctVal>0.781386164187</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>Automatic Data Processing Inc</name>
        <lei>HGBOLILQXWER4SAL2I23</lei>
        <title>Automatic Data Processing, Inc.</title>
        <cusip>053015103</cusip>
        <identifiers>
          <isin value="US0530151036"/>
        </identifiers>
        <balance>32900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7324527.00000000</valUSD>
        <pctVal>1.688368053938</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>Prudential Financial Inc</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial, Inc.</title>
        <cusip>744320102</cusip>
        <identifiers>
          <isin value="US7443201022"/>
        </identifiers>
        <balance>69400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5742156.00000000</valUSD>
        <pctVal>1.323617586655</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>Alcoa Corp</name>
        <lei>549300T12EZ1F6PWWU29</lei>
        <title>Alcoa Corp.</title>
        <cusip>013872106</cusip>
        <identifiers>
          <isin value="US0138721065"/>
        </identifiers>
        <balance>63800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2715328.00000000</valUSD>
        <pctVal>0.625907045077</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>American Beacon U.S. Government Money Market</name>
        <lei>549300EXCES9V5RWB620</lei>
        <title>American Beacon U.S. Government Money Market</title>
        <cusip>02368W200</cusip>
        <identifiers>
          <isin value="US02368W2008"/>
        </identifiers>
        <balance>2457626.25000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2457626.25000000</valUSD>
        <pctVal>0.566504519543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="2457626.25000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morningstar Inc</name>
        <lei>529900YGNQPOVAXQ7F29</lei>
        <title>Morningstar, Inc.</title>
        <cusip>617700109</cusip>
        <identifiers>
          <isin value="US6177001095"/>
        </identifiers>
        <balance>30400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6172112.00000000</valUSD>
        <pctVal>1.422726235581</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>Whirlpool Corp</name>
        <lei>WHENKOULSSK7WUM60H03</lei>
        <title>Whirlpool Corp.</title>
        <cusip>963320106</cusip>
        <identifiers>
          <isin value="US9633201069"/>
        </identifiers>
        <balance>30400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4013408.00000000</valUSD>
        <pctVal>0.925125930264</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>JPMorgan Chase &amp; Co</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46625H100</cusip>
        <identifiers>
          <isin value="US46625H1005"/>
        </identifiers>
        <balance>39200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5108152.00000000</valUSD>
        <pctVal>1.177474074634</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>HP Inc</name>
        <lei>WHKXQACZ14C5XRO8LW03</lei>
        <title>HP, Inc.</title>
        <cusip>40434L105</cusip>
        <identifiers>
          <isin value="US40434L1052"/>
        </identifiers>
        <balance>322400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9462440.00000000</valUSD>
        <pctVal>2.181175850441</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>Capital One Financial Corp</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
        <cusip>14040H105</cusip>
        <identifiers>
          <isin value="US14040H1059"/>
        </identifiers>
        <balance>49700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4779152.00000000</valUSD>
        <pctVal>1.101636673837</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>American International Group Inc</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group, Inc.</title>
        <cusip>026874784</cusip>
        <identifiers>
          <isin value="US0268747849"/>
        </identifiers>
        <balance>54800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2759728.00000000</valUSD>
        <pctVal>0.636141636553</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="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2023-04-27</ncom:dateSigned>
      <ncom:nameOfApplicant>AMERICAN BEACON FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Sonia Bates</ncom:signature>
      <ncom:signerName>Sonia Bates</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
