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                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BERRY GLOBAL GROUP INC</name>
                <lei>549300G6KKUMMXM8NH73</lei>
                <title>COMMON STOCK</title>
                <cusip>08579W103</cusip>
                <identifiers>
                    <isin value="US08579W1036"/>
                </identifiers>
                <balance>6773</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>472823.13</valUSD>
                <pctVal>0.301656873754</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>ABBVIE INC</name>
                <lei>FR5LCKFTG8054YNNRU85</lei>
                <title>COMMON STOCK</title>
                <cusip>00287Y109</cusip>
                <identifiers>
                    <isin value="US00287Y1091"/>
                </identifiers>
                <balance>7813</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1636979.76</valUSD>
                <pctVal>1.044378257892</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>ARMADA HOFFLER PROPERTIES INC</name>
                <lei>549300WQRSIV6XZT9313</lei>
                <title>COMMON STOCK</title>
                <cusip>04208T108</cusip>
                <identifiers>
                    <isin value="US04208T1088"/>
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                <balance>52802</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>396543.02</valUSD>
                <pctVal>0.252990854576</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>ANTERO RESOURCES CORP</name>
                <lei>APVBKPOULHUX7YZLKU17</lei>
                <title>COMMON STOCK</title>
                <cusip>03674X106</cusip>
                <identifiers>
                    <isin value="US03674X1063"/>
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                <balance>15145</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>612463.8</valUSD>
                <pctVal>0.390746356244</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>GAMING AND LEISURE PROPERTIES INC</name>
                <lei>5493006GWRDBCZYWTM57</lei>
                <title>COMMON STOCK</title>
                <cusip>36467J108</cusip>
                <identifiers>
                    <isin value="US36467J1088"/>
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                <balance>31494</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1603044.6</valUSD>
                <pctVal>1.022727933222</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>HILTON WORLDWIDE HOLDINGS INC</name>
                <lei>549300HVGPK36ICB0B89</lei>
                <title>COMMON STOCK</title>
                <cusip>43300A203</cusip>
                <identifiers>
                    <isin value="US43300A2033"/>
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                <balance>4217</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>959578.35</valUSD>
                <pctVal>0.612202294721</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>ALPHABET INC</name>
                <lei>5493006MHB84DD0ZWV18</lei>
                <title>COMMON STOCK</title>
                <cusip>02079K107</cusip>
                <identifiers>
                    <isin value="US02079K1079"/>
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                <balance>35565</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>5556319.95</valUSD>
                <pctVal>3.544881794794</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>GODADDY INC</name>
                <lei>549300J8H1TB0I2CB447</lei>
                <title>COMMON STOCK</title>
                <cusip>380237107</cusip>
                <identifiers>
                    <isin value="US3802371076"/>
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                <balance>4706</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>847738.84</valUSD>
                <pctVal>0.540849700467</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>CHARTER COMMUNICATIONS INC</name>
                <lei>0J0XRGZE3PBRFEZ7MV65</lei>
                <title>COMMON STOCK</title>
                <cusip>16119P108</cusip>
                <identifiers>
                    <isin value="US16119P1084"/>
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                <balance>650</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>239544.5</valUSD>
                <pctVal>0.152827221027</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="184265"/>
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            </invstOrSec>
            <invstOrSec>
                <name>PERMIAN RESOURCES CORP</name>
                <lei>529900NXUJPOKU7OJ511</lei>
                <title>COMMON STOCK</title>
                <cusip>71424F105</cusip>
                <identifiers>
                    <isin value="US71424F1057"/>
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                <balance>28253</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>391304.05</valUSD>
                <pctVal>0.249648439175</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>FLOOR  AND  DECOR HOLDINGS INC</name>
                <lei>549300M5FR3N688XGQ36</lei>
                <title>COMMON STOCK</title>
                <cusip>339750101</cusip>
                <identifiers>
                    <isin value="US3397501012"/>
                </identifiers>
                <balance>909</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>73147.23</valUSD>
                <pctVal>0.046667270118</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>DUPONT DE NEMOURS INC</name>
                <lei>5493004JF0SDFLM8GD76</lei>
                <title>COMMON STOCK</title>
                <cusip>26614N102</cusip>
                <identifiers>
                    <isin value="US26614N1028"/>
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                <balance>3952</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>295135.36</valUSD>
                <pctVal>0.188293686123</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>BROADCOM INC</name>
                <lei>549300WV6GIDOZJTV909</lei>
                <title>COMMON STOCK</title>
                <cusip>11135F101</cusip>
                <identifiers>
                    <isin value="US11135F1012"/>
                </identifiers>
                <balance>13947</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>2335146.21</valUSD>
                <pctVal>1.489802128477</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>OTIS WORLDWIDE CORP</name>
                <lei>549300ZLBKR8VSU25153</lei>
                <title>COMMON STOCK</title>
                <cusip>68902V107</cusip>
                <identifiers>
                    <isin value="US68902V1070"/>
                </identifiers>
                <balance>22158</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>2286705.6</valUSD>
                <pctVal>1.458897458109</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>ROYALTY PHARMA PLC</name>
                <lei>549300FGFN7VOK8BZR03</lei>
                <title>COMMON STOCK</title>
                <cusip>G7709Q104</cusip>
                <identifiers>
                    <isin value="GB00BMVP7Y09"/>
                </identifiers>
                <balance>6580</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>204835.4</valUSD>
                <pctVal>0.130683129648</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>JAMF HOLDING CORP</name>
                <lei>254900IHLXZU4Z5ANA12</lei>
                <title>COMMON STOCK</title>
                <cusip>47074L105</cusip>
                <identifiers>
                    <isin value="US47074L1052"/>
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                <balance>5592</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>67942.8</valUSD>
                <pctVal>0.043346890923</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 STAR BANCORP</name>
                <lei>5493008ZRBIHKWC0JA73</lei>
                <title>COMMON STOCK</title>
                <cusip>33830T103</cusip>
                <identifiers>
                    <isin value="US33830T1034"/>
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                <balance>8695</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>241721</valUSD>
                <pctVal>0.154215808310</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 WATCH RESTAURANT GROUP INC</name>
                <lei>N/A</lei>
                <title>COMMON STOCK</title>
                <cusip>33748L101</cusip>
                <identifiers>
                    <isin value="US33748L1017"/>
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                <balance>9406</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>156609.9</valUSD>
                <pctVal>0.099915697510</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>APOLLO ASSET MANAGEMENT INC</name>
                <lei>54930054P2G7ZJB0KM79</lei>
                <title>COMMON STOCK</title>
                <cusip>03769M106</cusip>
                <identifiers>
                    <isin value="US03769M1062"/>
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                <balance>17259</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>2363447.46</valUSD>
                <pctVal>1.507858069604</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>TPG INC</name>
                <lei>549300NLO4R8MX77XJ02</lei>
                <title>COMMON STOCK</title>
                <cusip>872657101</cusip>
                <identifiers>
                    <isin value="US8726571016"/>
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                <balance>6947</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>329496.21</valUSD>
                <pctVal>0.210215597157</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>CONSTELLATION ENERGY CORP</name>
                <lei>549300F8Y20RYGNGV346</lei>
                <title>COMMON STOCK</title>
                <cusip>21037T109</cusip>
                <identifiers>
                    <isin value="US21037T1097"/>
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                <balance>2569</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>517987.47</valUSD>
                <pctVal>0.330471313542</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>COREBRIDGE FINANCIAL INC</name>
                <lei>549300XY1661QCIA7J65</lei>
                <title>COMMON STOCK</title>
                <cusip>21871X109</cusip>
                <identifiers>
                    <isin value="US21871X1090"/>
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                <balance>19546</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>617067.22</valUSD>
                <pctVal>0.393683296503</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>KENVUE INC</name>
                <lei>5493008HSF8L4M2LIJ82</lei>
                <title>COMMON STOCK</title>
                <cusip>49177J102</cusip>
                <identifiers>
                    <isin value="US49177J1025"/>
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                <balance>29275</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>702014.5</valUSD>
                <pctVal>0.447878891627</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>ARDENT HEALTH PARTNERS INC</name>
                <lei>N/A</lei>
                <title>COMMON STOCK</title>
                <cusip>03980N107</cusip>
                <identifiers>
                    <isin value="US03980N1072"/>
                </identifiers>
                <balance>21897</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>301083.75</valUSD>
                <pctVal>0.192088705058</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>GUARDIAN PHARMACY SERVICES INC</name>
                <lei>N/A</lei>
                <title>COMMON STOCK</title>
                <cusip>40145W101</cusip>
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                    <isin value="US40145W1018"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>BLACKROCK INC</name>
                <lei>529900VBK42Y5HHRMD23</lei>
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                <cusip>09290D101</cusip>
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                    <isin value="US09290D1019"/>
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                <balance>516</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>KARMAN HOLDINGS INC</name>
                <lei>N/A</lei>
                <title>COMMON STOCK</title>
                <cusip>485924104</cusip>
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                    <isin value="US4859241048"/>
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                <balance>1425</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>CVS HEALTH CORP</name>
                <lei>549300EJG376EN5NQE29</lei>
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                <cusip>126650100</cusip>
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                    <isin value="US1266501006"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>MOLSON COORS BEVERAGE CO</name>
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                <cusip>60871R209</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>FAIR ISAAC CORP</name>
                <lei>RI6HET5SJUEY30V1PS26</lei>
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                <cusip>303250104</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>NORTHROP GRUMMAN CORP</name>
                <lei>RIMU48P07456QXSO0R61</lei>
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                <cusip>666807102</cusip>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>SOUTHWEST AIRLINES CO</name>
                <lei>UDTZ87G0STFETI6HGH41</lei>
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                <cusip>844741108</cusip>
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                    <isin value="US8447411088"/>
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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>APPLE INC</name>
                <lei>HWUPKR0MPOU8FGXBT394</lei>
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                <cusip>037833100</cusip>
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                    <isin value="US0378331005"/>
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                <balance>45935</balance>
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                <curCd>USD</curCd>
                <valUSD>10203541.55</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <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>CINTAS CORP</name>
                <lei>N/A</lei>
                <title>COMMON STOCK</title>
                <cusip>172908105</cusip>
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                    <isin value="US1729081059"/>
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                <balance>1636</balance>
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                <curCd>USD</curCd>
                <valUSD>336247.08</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <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>GARTNER INC</name>
                <lei>PP55B5R38BFB8O8HH686</lei>
                <title>COMMON STOCK</title>
                <cusip>366651107</cusip>
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                    <isin value="US3666511072"/>
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                <balance>2079</balance>
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                <curCd>USD</curCd>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <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>UNITED RENTALS INC</name>
                <lei>5323X5O7RN0NKFCDRY08</lei>
                <title>COMMON STOCK</title>
                <cusip>911363109</cusip>
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                    <isin value="US9113631090"/>
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                <balance>1132</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>709424.4</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <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>RAYMOND JAMES FINANCIAL INC</name>
                <lei>RGUZHJ05YTITL6D76949</lei>
                <title>COMMON STOCK</title>
                <cusip>754730109</cusip>
                <identifiers>
                    <isin value="US7547301090"/>
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                <balance>14270</balance>
                <units>NS</units>
                <curCd>USD</curCd>
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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>NUCOR CORP</name>
                <lei>549300GGJCRSI2TIEJ46</lei>
                <title>COMMON STOCK</title>
                <cusip>670346105</cusip>
                <identifiers>
                    <isin value="US6703461052"/>
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                <balance>5911</balance>
                <units>NS</units>
                <curCd>USD</curCd>
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                <payoffProfile>Long</payoffProfile>
                <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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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>BANK OF AMERICA CORP</name>
                <lei>9DJT3UXIJIZJI4WXO774</lei>
                <title>COMMON STOCK</title>
                <cusip>060505104</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>EASTMAN CHEMICAL CO</name>
                <lei>FDPVHDGJ1IQZFK9KH630</lei>
                <title>COMMON STOCK</title>
                <cusip>277432100</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>PULTEGROUP INC</name>
                <lei>N/A</lei>
                <title>COMMON STOCK</title>
                <cusip>745867101</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>WALT DISNEY CO/THE</name>
                <lei>549300GZKULIZ0WOW665</lei>
                <title>COMMON STOCK</title>
                <cusip>254687106</cusip>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>TENET HEALTHCARE CORP</name>
                <lei>0W9AIBT6U6ADJ2I8HK17</lei>
                <title>COMMON STOCK</title>
                <cusip>88033G407</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>UNITEDHEALTH GROUP INC</name>
                <lei>549300GHBMY8T5GXDE41</lei>
                <title>COMMON STOCK</title>
                <cusip>91324P102</cusip>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>INTERNATIONAL BUSINESS MACHINES CORP</name>
                <lei>VGRQXHF3J8VDLUA7XE92</lei>
                <title>COMMON STOCK</title>
                <cusip>459200101</cusip>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>BOEING CO/THE</name>
                <lei>RVHJWBXLJ1RFUBSY1F30</lei>
                <title>COMMON STOCK</title>
                <cusip>097023105</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                <name>PROCTER  AND  GAMBLE CO/THE</name>
                <lei>2572IBTT8CCZW6AU4141</lei>
                <title>COMMON STOCK</title>
                <cusip>742718109</cusip>
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                <balance>8692</balance>
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                <curCd>USD</curCd>
                <valUSD>1481290.64</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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            </invstOrSec>
            <invstOrSec>
                <name>HERSHEY CO/THE</name>
                <lei>21X2CX66SU2BR6QTAD08</lei>
                <title>COMMON STOCK</title>
                <cusip>427866108</cusip>
                <identifiers>
                    <isin value="US4278661081"/>
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                <balance>1405</balance>
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                <curCd>USD</curCd>
                <valUSD>240297.15</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
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                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>UMB FINANCIAL CORP</name>
                <lei>549300MGEH3N3CUCV828</lei>
                <title>COMMON STOCK</title>
                <cusip>902788108</cusip>
                <identifiers>
                    <isin value="US9027881088"/>
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                <balance>6223</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>629145.3</valUSD>
                <pctVal>0.401389002131</pctVal>
                <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>
            <invstOrSec>
                <name>WALMART INC</name>
                <lei>Y87794H0US1R65VBXU25</lei>
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                <cusip>931142103</cusip>
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                    <isin value="US9311421039"/>
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                <balance>31836</balance>
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                <curCd>USD</curCd>
                <valUSD>2794882.44</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <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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                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>NCR VOYIX CORP</name>
                <lei>549300YKTY8JX1DV2R67</lei>
                <title>COMMON STOCK</title>
                <cusip>62886E108</cusip>
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                    <isin value="US62886E1082"/>
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                <balance>7419</balance>
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                <curCd>USD</curCd>
                <valUSD>72335.25</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>NIKE INC</name>
                <lei>787RXPR0UX0O0XUXPZ81</lei>
                <title>COMMON STOCK</title>
                <cusip>654106103</cusip>
                <identifiers>
                    <isin value="US6541061031"/>
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                <balance>2360</balance>
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                <curCd>USD</curCd>
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                <payoffProfile>Long</payoffProfile>
                <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>MEDTRONIC PLC</name>
                <lei>549300GX3ZBSQWUXY261</lei>
                <title>COMMON STOCK</title>
                <cusip>G5960L103</cusip>
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                    <isin value="IE00BTN1Y115"/>
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                <balance>6353</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>IE</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>EBAY INC</name>
                <lei>OML71K8X303XQONU6T67</lei>
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                <cusip>278642103</cusip>
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                    <isin value="US2786421030"/>
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                <balance>6672</balance>
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                <curCd>USD</curCd>
                <valUSD>451894.56</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>BERKSHIRE HATHAWAY INC</name>
                <lei>5493000C01ZX7D35SD85</lei>
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                <cusip>084670702</cusip>
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                    <isin value="US0846707026"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>QUALCOMM INC</name>
                <lei>H1J8DDZKZP6H7RWC0H53</lei>
                <title>COMMON STOCK</title>
                <cusip>747525103</cusip>
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                <balance>6485</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>KROGER CO/THE</name>
                <lei>6CPEOKI6OYJ13Q6O7870</lei>
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                <cusip>501044101</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>COCA-COLA CO/THE</name>
                <lei>UWJKFUJFZ02DKWI3RY53</lei>
                <title>COMMON STOCK</title>
                <cusip>191216100</cusip>
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                    <isin value="US1912161007"/>
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                <curCd>USD</curCd>
                <valUSD>2155833.62</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>HONEYWELL INTERNATIONAL INC</name>
                <lei>ISRPG12PN4EIEOEMW547</lei>
                <title>COMMON STOCK</title>
                <cusip>438516106</cusip>
                <identifiers>
                    <isin value="US4385161066"/>
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                <balance>4157</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>880244.75</valUSD>
                <pctVal>0.561588176584</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>CITIGROUP INC</name>
                <lei>6SHGI4ZSSLCXXQSBB395</lei>
                <title>COMMON STOCK</title>
                <cusip>172967424</cusip>
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                    <isin value="US1729674242"/>
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                <balance>25167</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1786605.33</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>BIO-RAD LABORATORIES INC</name>
                <lei>549300ZC1GPV35XYDK53</lei>
                <title>COMMON STOCK</title>
                <cusip>090572207</cusip>
                <identifiers>
                    <isin value="US0905722072"/>
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                <balance>1210</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>294707.6</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>RTX CORP</name>
                <lei>I07WOS4YJ0N7YRFE7309</lei>
                <title>COMMON STOCK</title>
                <cusip>75513E101</cusip>
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                    <isin value="US75513E1010"/>
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                <balance>4542</balance>
                <units>NS</units>
                <curCd>USD</curCd>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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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>
                <name>ORACLE CORP</name>
                <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
                <title>COMMON STOCK</title>
                <cusip>68389X105</cusip>
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                    <isin value="US68389X1054"/>
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                <balance>10981</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1535253.61</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <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>MICROSOFT CORP</name>
                <lei>INR2EJN1ERAN0W5ZP974</lei>
                <title>COMMON STOCK</title>
                <cusip>594918104</cusip>
                <identifiers>
                    <isin value="US5949181045"/>
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                <balance>22858</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>8580664.62</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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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>CASEY'S GENERAL STORES INC</name>
                <lei>549300CAFWSI86V66Q65</lei>
                <title>COMMON STOCK</title>
                <cusip>147528103</cusip>
                <identifiers>
                    <isin value="US1475281036"/>
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                <balance>837</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>363291.48</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>SNAP-ON INC</name>
                <lei>HHWAT5TDOYZMM26KKQ73</lei>
                <title>COMMON STOCK</title>
                <cusip>833034101</cusip>
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                <balance>734</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>247365.34</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <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>AMAZON.COM INC</name>
                <lei>ZXTILKJKG63JELOEG630</lei>
                <title>COMMON STOCK</title>
                <cusip>023135106</cusip>
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                    <isin value="US0231351067"/>
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                <balance>32043</balance>
                <units>NS</units>
                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>LAM RESEARCH CORP</name>
                <lei>549300I4GMO6D34U1T02</lei>
                <title>COMMON STOCK</title>
                <cusip>512807306</cusip>
                <identifiers>
                    <isin value="US5128073062"/>
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                <balance>17640</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1282428</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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            <invstOrSec>
                <name>MCDONALD'S CORP</name>
                <lei>UE2136O97NLB5BYP9H04</lei>
                <title>COMMON STOCK</title>
                <cusip>580135101</cusip>
                <identifiers>
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                <balance>3379</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>CONOCOPHILLIPS </name>
                <lei>WPTL2Z3FIYTHSP5V2253</lei>
                <title>COMMON STOCK</title>
                <cusip>20825C104</cusip>
                <identifiers>
                    <isin value="US20825C1045"/>
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                <balance>12955</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>THERMO FISHER SCIENTIFIC INC</name>
                <lei>HCHV7422L5HDJZCRFL38</lei>
                <title>COMMON STOCK</title>
                <cusip>883556102</cusip>
                <identifiers>
                    <isin value="US8835561023"/>
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                <balance>966</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>480681.6</valUSD>
                <pctVal>0.306670506426</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>LOWE'S COS INC</name>
                <lei>WAFCR4OKGSC504WU3E95</lei>
                <title>COMMON STOCK</title>
                <cusip>548661107</cusip>
                <identifiers>
                    <isin value="US5486611073"/>
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                <balance>7903</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1843216.69</valUSD>
                <pctVal>1.175955550983</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>ADOBE INC</name>
                <lei>FU4LY2G4933NH2E1CP29</lei>
                <title>COMMON STOCK</title>
                <cusip>00724F101</cusip>
                <identifiers>
                    <isin value="US00724F1012"/>
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                <balance>1584</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>607511.52</valUSD>
                <pctVal>0.387586846466</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>
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            <invstOrSec>
                <name>GOLDMAN SACHS GROUP INC/THE</name>
                <lei>784F5XWPLTWKTBV3E584</lei>
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                <cusip>38141G104</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>MERCK  AND  CO INC</name>
                <lei>4YV9Y5M8S0BRK1RP0397</lei>
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                <cusip>58933Y105</cusip>
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                <balance>12047</balance>
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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>NEXTERA ENERGY INC</name>
                <lei>254900RHL9MEUS5NKX63</lei>
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                <cusip>65339F101</cusip>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>FEDEX CORP</name>
                <lei>549300E707U7WNPZN687</lei>
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                <cusip>31428X106</cusip>
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                    <isin value="US31428X1063"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>FREEPORT-MCMORAN INC</name>
                <lei>549300IRDTHJQ1PVET45</lei>
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                <cusip>35671D857</cusip>
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                <assetCat>EC</assetCat>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>PG AND E CORP</name>
                <lei>8YQ2GSDWYZXO2EDN3511</lei>
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                <cusip>69331C108</cusip>
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                <assetCat>EC</assetCat>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>EXXON MOBIL CORP</name>
                <lei>J3WHBG0MTS7O8ZVMDC91</lei>
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                <cusip>30231G102</cusip>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>REGENERON PHARMACEUTICALS INC</name>
                <lei>549300RCBFWIRX3HYQ56</lei>
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                <cusip>75886F107</cusip>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>NEW YORK TIMES CO/THE</name>
                <lei>529900J1WEMMIW7BOH57</lei>
                <title>COMMON STOCK</title>
                <cusip>650111107</cusip>
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                    <isin value="US6501111073"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>GRAHAM HOLDINGS CO</name>
                <lei>529900BOSCEEEMAFQJ29</lei>
                <title>COMMON STOCK</title>
                <cusip>384637104</cusip>
                <identifiers>
                    <isin value="US3846371041"/>
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                <curCd>USD</curCd>
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                <pctVal>0.140994594436</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <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>ELI LILLY  AND  CO</name>
                <lei>FRDRIPF3EKNDJ2CQJL29</lei>
                <title>COMMON STOCK</title>
                <cusip>532457108</cusip>
                <identifiers>
                    <isin value="US5324571083"/>
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                <balance>2802</balance>
                <units>NS</units>
                <curCd>USD</curCd>
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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>JOHNSON  AND  JOHNSON</name>
                <lei>549300G0CFPGEF6X2043</lei>
                <title>COMMON STOCK</title>
                <cusip>478160104</cusip>
                <identifiers>
                    <isin value="US4781601046"/>
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                <balance>9474</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1571168.16</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>HIGHWOODS PROPERTIES INC</name>
                <lei>ZIIGTYKL9T0X3HLTDX53</lei>
                <title>COMMON STOCK</title>
                <cusip>431284108</cusip>
                <identifiers>
                    <isin value="US4312841087"/>
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                <balance>8314</balance>
                <units>NS</units>
                <curCd>USD</curCd>
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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>DEERE  AND  CO</name>
                <lei>PWFTNG3EI0Y73OXWDH08</lei>
                <title>COMMON STOCK</title>
                <cusip>244199105</cusip>
                <identifiers>
                    <isin value="US2441991054"/>
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                <balance>1094</balance>
                <units>NS</units>
                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>AMGEN INC</name>
                <lei>62QBXGPJ34PQ72Z12S66</lei>
                <title>COMMON STOCK</title>
                <cusip>031162100</cusip>
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                    <isin value="US0311621009"/>
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                <balance>1917</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>597241.35</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>ELECTRONIC ARTS INC</name>
                <lei>549300O7A67PUEYKDL45</lei>
                <title>COMMON STOCK</title>
                <cusip>285512109</cusip>
                <identifiers>
                    <isin value="US2855121099"/>
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                <balance>3555</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>AT AND T INC</name>
                <lei>549300Z40J86GGSTL398</lei>
                <title>COMMON STOCK</title>
                <cusip>00206R102</cusip>
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                    <isin value="US00206R1023"/>
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                <balance>48495</balance>
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                <curCd>USD</curCd>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>TARGET CORP</name>
                <lei>8WDDFXB5T1Z6J0XC1L66</lei>
                <title>COMMON STOCK</title>
                <cusip>87612E106</cusip>
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                <curCd>USD</curCd>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>CISCO SYSTEMS INC</name>
                <lei>549300LKFJ962MZ46593</lei>
                <title>COMMON STOCK</title>
                <cusip>17275R102</cusip>
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                    <isin value="US17275R1023"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>VAIL RESORTS INC</name>
                <lei>529900PSZHRNU9HKH870</lei>
                <title>COMMON STOCK</title>
                <cusip>91879Q109</cusip>
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                    <isin value="US91879Q1094"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>JPMORGAN CHASE  AND  CO</name>
                <lei>8I5DZWZKVSZI1NUHU748</lei>
                <title>COMMON STOCK</title>
                <cusip>46625H100</cusip>
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                <curCd>USD</curCd>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>UNION PACIFIC CORP</name>
                <lei>549300LMMRSZZCZ8CL11</lei>
                <title>COMMON STOCK</title>
                <cusip>907818108</cusip>
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                    <isin value="US9078181081"/>
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                <balance>7373</balance>
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                <curCd>USD</curCd>
                <valUSD>1741797.52</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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            <invstOrSec>
                <name>INTEL CORP</name>
                <lei>KNX4USFCNGPY45LOCE31</lei>
                <title>COMMON STOCK</title>
                <cusip>458140100</cusip>
                <identifiers>
                    <isin value="US4581401001"/>
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                <curCd>USD</curCd>
                <valUSD>332860.47</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>BANK OF NEW YORK MELLON CORP/THE</name>
                <lei>WFLLPEPC7FZXENRZV188</lei>
                <title>COMMON STOCK</title>
                <cusip>064058100</cusip>
                <identifiers>
                    <isin value="US0640581007"/>
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                <balance>20968</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1758586.16</valUSD>
                <pctVal>1.121962039490</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>COSTAR GROUP INC</name>
                <lei>984500Q1D53D08E2E698</lei>
                <title>COMMON STOCK</title>
                <cusip>22160N109</cusip>
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                    <isin value="US22160N1090"/>
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                <balance>3293</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>260904.39</valUSD>
                <pctVal>0.166454637353</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>BEST BUY CO INC</name>
                <lei>HL5XPTVRV0O8TUN5LL90</lei>
                <title>COMMON STOCK</title>
                <cusip>086516101</cusip>
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                    <isin value="US0865161014"/>
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                <balance>7377</balance>
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                <curCd>USD</curCd>
                <valUSD>543020.97</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>
            <invstOrSec>
                <name>HOME DEPOT INC/THE</name>
                <lei>QEKMOTMBBKA8I816DO57</lei>
                <title>COMMON STOCK</title>
                <cusip>437076102</cusip>
                <identifiers>
                    <isin value="US4370761029"/>
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                <balance>1756</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>643556.44</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>MCKESSON CORP</name>
                <lei>549300WZWOM80UCFSF54</lei>
                <title>COMMON STOCK</title>
                <cusip>58155Q103</cusip>
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                    <isin value="US58155Q1031"/>
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                <balance>2623</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1765252.77</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>FIFTH THIRD BANCORP</name>
                <lei>THRNG6BD57P9QWTQLG42</lei>
                <title>COMMON STOCK</title>
                <cusip>316773100</cusip>
                <identifiers>
                    <isin value="US3167731005"/>
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                <balance>9627</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>377378.4</valUSD>
                <pctVal>0.240764000624</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>NVIDIA CORP</name>
                <lei>549300S4KLFTLO7GSQ80</lei>
                <title>COMMON STOCK</title>
                <cusip>67066G104</cusip>
                <identifiers>
                    <isin value="US67066G1040"/>
                </identifiers>
                <balance>72323</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>7838366.74</valUSD>
                <pctVal>5.000806974326</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>COMCAST CORP</name>
                <lei>51M0QTTNCGUN7KFCFZ59</lei>
                <title>COMMON STOCK</title>
                <cusip>20030N101</cusip>
                <identifiers>
                    <isin value="US20030N1019"/>
                </identifiers>
                <balance>9307</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>343428.3</valUSD>
                <pctVal>0.219104144369</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>ELEVANCE HEALTH INC</name>
                <lei>8MYN82XMYQH89CTMTH67</lei>
                <title>COMMON STOCK</title>
                <cusip>036752103</cusip>
                <identifiers>
                    <isin value="US0367521038"/>
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                <balance>904</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>393203.84</valUSD>
                <pctVal>0.250860487985</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>LKQ CORP</name>
                <lei>DS830JTTZQN6GK0I2E41</lei>
                <title>COMMON STOCK</title>
                <cusip>501889208</cusip>
                <identifiers>
                    <isin value="US5018892084"/>
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                <balance>11020</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>468790.8</valUSD>
                <pctVal>0.299084283742</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>NRG ENERGY INC</name>
                <lei>5E2UPK5SW04M13XY7I38</lei>
                <title>COMMON STOCK</title>
                <cusip>629377508</cusip>
                <identifiers>
                    <isin value="US6293775085"/>
                </identifiers>
                <balance>12261</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1170435.06</valUSD>
                <pctVal>0.746726965603</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>SALESFORCE INC</name>
                <lei>RCGZFPDMRW58VJ54VR07</lei>
                <title>COMMON STOCK</title>
                <cusip>79466L302</cusip>
                <identifiers>
                    <isin value="US79466L3024"/>
                </identifiers>
                <balance>5010</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1344483.6</valUSD>
                <pctVal>0.857768357461</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>CBRE GROUP INC</name>
                <lei>52990016II9MJ2OSWA10</lei>
                <title>COMMON STOCK</title>
                <cusip>12504L109</cusip>
                <identifiers>
                    <isin value="US12504L1098"/>
                </identifiers>
                <balance>18860</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>2466510.8</valUSD>
                <pctVal>1.573611546899</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>AMERIPRISE FINANCIAL INC</name>
                <lei>6ZLKQF7QB6JAEKQS5388</lei>
                <title>COMMON STOCK</title>
                <cusip>03076C106</cusip>
                <identifiers>
                    <isin value="US03076C1062"/>
                </identifiers>
                <balance>4828</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>2337283.08</valUSD>
                <pctVal>1.491165432180</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>MASTERCARD INC</name>
                <lei>AR5L2ODV9HN37376R084</lei>
                <title>COMMON STOCK</title>
                <cusip>57636Q104</cusip>
                <identifiers>
                    <isin value="US57636Q1040"/>
                </identifiers>
                <balance>6738</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>3693232.56</valUSD>
                <pctVal>2.356248917215</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>ASTRAZENECA PLC</name>
                <lei>PY6ZZQWO2IZFZC3IOL08</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>046353108</cusip>
                <identifiers>
                    <isin value="US0463531089"/>
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                <balance>5572</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>409542</valUSD>
                <pctVal>0.261284086062</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>ISHARES EXPANDED TECH-SOFTWARE SECTOR ETF</name>
                <lei>54930072GM1ADLZJ5373</lei>
                <title>EXCHANGE TRADED FUND</title>
                <cusip>464287515</cusip>
                <identifiers>
                    <isin value="US4642875151"/>
                </identifiers>
                <balance>15427</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1372848.73</valUSD>
                <pctVal>0.875865053448</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>RF</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <loanByFundCondition isLoanByFund="Y" loanVal="1245860"/>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ARCH CAPITAL GROUP LTD</name>
                <lei>549300AYR4P8AFKDCE43</lei>
                <title>ORDINARY SHARES</title>
                <cusip>G0450A105</cusip>
                <identifiers>
                    <isin value="BMG0450A1053"/>
                </identifiers>
                <balance>8978</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>863504.04</valUSD>
                <pctVal>0.550907755254</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BM</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NYXOAH SA</name>
                <lei>5493002O1ESKZ18OXR80</lei>
                <title>ORDINARY SHARES</title>
                <cusip>B6S7WD106</cusip>
                <identifiers>
                    <isin value="BE0974358906"/>
                </identifiers>
                <balance>9877</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>68941.46</valUSD>
                <pctVal>0.043984026957</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>UNIVERSAL MUSIC GROUP NV</name>
                <lei>724500GJBUL3D9TW9Y18</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="NL0015000IY2"/>
                </identifiers>
                <balance>25906</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.081299679"/>
                <valUSD>715342.23</valUSD>
                <pctVal>0.456381862635</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>NL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>VIKING HOLDINGS LTD</name>
                <lei>N/A</lei>
                <title>ORDINARY SHARES</title>
                <cusip>G93A5A101</cusip>
                <identifiers>
                    <isin value="BMG93A5A1010"/>
                </identifiers>
                <balance>15473</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>615051.75</valUSD>
                <pctVal>0.392397444901</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BM</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ASSURED GUARANTY LTD</name>
                <lei>549300BBOQUJEPH87M14</lei>
                <title>ORDINARY SHARES</title>
                <cusip>G0585R106</cusip>
                <identifiers>
                    <isin value="BMG0585R1060"/>
                </identifiers>
                <balance>5817</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>512477.7</valUSD>
                <pctVal>0.326956130193</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BM</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LULULEMON ATHLETICA INC</name>
                <lei>549300D9GZ4BMLDW5T40</lei>
                <title>ORDINARY SHARES</title>
                <cusip>550021109</cusip>
                <identifiers>
                    <isin value="US5500211090"/>
                </identifiers>
                <balance>765</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>216540.9</valUSD>
                <pctVal>0.138151132610</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>CA</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>GOLDMAN SACHS INTERNATIONAL</name>
                <lei>W22LROWP2IHZNBB6K528</lei>
                <title>OTC EQUITY OPTION</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2761846"/>
                </identifiers>
                <balance>1812</balance>
                <units>NC</units>
                <curCd>USD</curCd>
                <valUSD>10582.19</valUSD>
                <pctVal>0.006751341359</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <optionSwaptionWarrantDeriv derivCat="OPT">
                        <counterparties>
                            <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
                            <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
                        </counterparties>
                        <putOrCall>Call</putOrCall>
                        <writtenOrPur>Written</writtenOrPur>
                        <descRefInstrmnt>
                            <otherRefInst>
<issuerName>VAIL RESORTS INC</issuerName>
<issueTitle>COMMON STOCK</issueTitle>
<identifiers>
    <cusip value="91879Q109"/>
</identifiers>
                            </otherRefInst>
                        </descRefInstrmnt>
                        <shareNo>1</shareNo>
                        <exercisePrice>170</exercisePrice>
                        <exercisePriceCurCd>USD</exercisePriceCurCd>
                        <expDt>2025-07-18</expDt>
                        <delta>XXXX</delta>
                        <unrealizedAppr>7700.89</unrealizedAppr>
                    </optionSwaptionWarrantDeriv>
                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MORGAN STANLEY AND CO. INTERNATIONAL</name>
                <lei>4PQUHN3JPFGFNF3BB653</lei>
                <title>OTC EQUITY OPTION</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2760071"/>
                </identifiers>
                <balance>1635</balance>
                <units>NC</units>
                <curCd>USD</curCd>
                <valUSD>53722.41</valUSD>
                <pctVal>0.034274410922</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <optionSwaptionWarrantDeriv derivCat="OPT">
                        <counterparties>
                            <counterpartyName>MORGAN STANLEY AND CO. INTERNATIONAL</counterpartyName>
                            <counterpartyLei>4PQUHN3JPFGFNF3BB653</counterpartyLei>
                        </counterparties>
                        <putOrCall>Call</putOrCall>
                        <writtenOrPur>Written</writtenOrPur>
                        <descRefInstrmnt>
                            <otherRefInst>
<issuerName>BERKSHIRE HATHAWAY INC</issuerName>
<issueTitle>COMMON STOCK</issueTitle>
<identifiers>
    <cusip value="084670702"/>
</identifiers>
                            </otherRefInst>
                        </descRefInstrmnt>
                        <shareNo>1</shareNo>
                        <exercisePrice>515</exercisePrice>
                        <exercisePriceCurCd>USD</exercisePriceCurCd>
                        <expDt>2025-06-20</expDt>
                        <delta>XXXX</delta>
                        <unrealizedAppr>-36718.41</unrealizedAppr>
                    </optionSwaptionWarrantDeriv>
                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BARCLAYS BANK PLC</name>
                <lei>G5GSEF7VJP5I7OUK5573</lei>
                <title>OTC EQUITY OPTION</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2759687"/>
                </identifiers>
                <balance>3293</balance>
                <units>NC</units>
                <curCd>USD</curCd>
                <valUSD>9870.97</valUSD>
                <pctVal>0.006297589441</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <optionSwaptionWarrantDeriv derivCat="OPT">
                        <counterparties>
                            <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
                            <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
                        </counterparties>
                        <putOrCall>Call</putOrCall>
                        <writtenOrPur>Written</writtenOrPur>
                        <descRefInstrmnt>
                            <otherRefInst>
<issuerName>COSTAR GROUP INC</issuerName>
<issueTitle>COMMON STOCK</issueTitle>
<identifiers>
    <cusip value="22160N109"/>
</identifiers>
                            </otherRefInst>
                        </descRefInstrmnt>
                        <shareNo>1</shareNo>
                        <exercisePrice>85</exercisePrice>
                        <exercisePriceCurCd>USD</exercisePriceCurCd>
                        <expDt>2025-06-20</expDt>
                        <delta>XXXX</delta>
                        <unrealizedAppr>1489.88</unrealizedAppr>
                    </optionSwaptionWarrantDeriv>
                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANK OF AMERICA N.A.</name>
                <lei>B4TYDEB6GKMZO031MB27</lei>
                <title>OTC EQUITY OPTION</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2754607"/>
                </identifiers>
                <balance>369</balance>
                <units>NC</units>
                <curCd>USD</curCd>
                <valUSD>72.12</valUSD>
                <pctVal>0.000046011907</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <optionSwaptionWarrantDeriv derivCat="OPT">
                        <counterparties>
                            <counterpartyName>BANK OF AMERICA N.A.</counterpartyName>
                            <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
                        </counterparties>
                        <putOrCall>Call</putOrCall>
                        <writtenOrPur>Written</writtenOrPur>
                        <descRefInstrmnt>
                            <otherRefInst>
<issuerName>GOLDMAN SACHS GROUP INC/THE</issuerName>
<issueTitle>COMMON STOCK</issueTitle>
<identifiers>
    <cusip value="38141G104"/>
</identifiers>
                            </otherRefInst>
                        </descRefInstrmnt>
                        <shareNo>1</shareNo>
                        <exercisePrice>645</exercisePrice>
                        <exercisePriceCurCd>USD</exercisePriceCurCd>
                        <expDt>2025-04-17</expDt>
                        <delta>XXXX</delta>
                        <unrealizedAppr>5352.18</unrealizedAppr>
                    </optionSwaptionWarrantDeriv>
                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PUTNAM CASH COLLATERAL POOL LLC</name>
                <lei>5493005HRIV7IFMKD774</lei>
                <title>SHORT TERM INV FUND</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="1181681"/>
                </identifiers>
                <balance>1472750</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1472750</valUSD>
                <pctVal>0.939601158728</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>STIV</assetCat>
                <issuerCat>PF</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <cashCollateralCondition cashCollateralVal="1472750" isCashCollateral="Y"/>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PUTNAM SHORT TERM INVESTMENT FUND</name>
                <lei>5493003MK0Q7JP8CPP42</lei>
                <title>SHORT TERM INV FUND</title>
                <cusip>74676P664</cusip>
                <identifiers>
                    <isin value="US74676P6640"/>
                </identifiers>
                <balance>721836</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>721836</valUSD>
                <pctVal>0.460524829069</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>STIV</assetCat>
                <issuerCat>PF</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
        </invstOrSecs>
        <explntrNotes>
            <explntrNote note="Monthly total returns provided exclude any applicable sales loads or redemption fees. " noteItem="B.5.a"/>
            <explntrNote note="For total return swaps, interest rate swaps or spread swaps, if any, the mark to market payment may be either received or paid, depending on the change in value of the underlying index, basket or equity. For credit default swaps, if any, floating rate index related payments are only made upon the occurrence of a credit event on the reference obligation." noteItem="C.11.f.i.1"/>
            <explntrNote note="For certain swaptions, if any, the value provided may include any unpaid or received premium and as a result may be a negative value." noteItem="C.2.c"/>
            <explntrNote note="For total return swaps, interest rate swaps or spread swaps, if any, the mark to market payment may be either paid or received, depending on the change in value of the underlying index, basket or equity. For credit default swaps, if any, floating rate index related payments are only made upon the occurrence of a credit event on the reference obligation." noteItem="C.11.f.i.2"/>
        </explntrNotes>
        <signature>
            <ncom:dateSigned>2025-05-29</ncom:dateSigned>
            <ncom:nameOfApplicant>Putnam Variable Trust</ncom:nameOfApplicant>
            <ncom:signature>Kevin R Blatchford</ncom:signature>
            <ncom:signerName>Kevin R Blatchford</ncom:signerName>
            <ncom:title>Assistant Treasurer</ncom:title>
        </signature>
    </formData>
    <documents>XXXX</documents>
</edgarSubmission>
