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        <lei>549300PHKG8J7A22NF08</lei>
        <title>Accolade Inc</title>
        <cusip>00437E102</cusip>
        <identifiers>
          <isin value="US00437E1029"/>
          <ticker value="ACCD"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>558400.00000000</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>
      <invstOrSec>
        <name>United States Cellular Corp</name>
        <lei>549300B164AZXESI6E03</lei>
        <title>United States Cellular Corp</title>
        <cusip>911684108</cusip>
        <identifiers>
          <isin value="US9116841084"/>
          <ticker value="USM"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2420250.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TEGNA Inc</name>
        <lei>549300YC5EDBGX85AO10</lei>
        <title>TEGNA Inc</title>
        <cusip>87901J105</cusip>
        <identifiers>
          <isin value="US87901J1051"/>
          <ticker value="TGNA"/>
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        <balance>223200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4066704.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HKBN Ltd</name>
        <lei>N/A</lei>
        <title>HKBN Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="KYG451581055"/>
          <ticker value="1310"/>
          <other otherDesc="SEDOL" value="BW0DD81"/>
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        <balance>280000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.78145000"/>
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        <pctVal>0.043594667680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Amedisys Inc</name>
        <lei>5299001RBS9GK9STN379</lei>
        <title>Amedisys Inc</title>
        <cusip>023436108</cusip>
        <identifiers>
          <isin value="US0234361089"/>
          <ticker value="AMED"/>
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        <balance>8500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>787355.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lee Enterprises Inc</name>
        <lei>N/A</lei>
        <title>Lee Enterprises Inc</title>
        <cusip>523768406</cusip>
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          <isin value="US5237684064"/>
          <ticker value="LEE"/>
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        <balance>60111.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>623952.18000000</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>First Bank/Hamilton NJ</name>
        <lei>549300YS4CB1171BRJ08</lei>
        <title>First Bank/Hamilton NJ</title>
        <cusip>31931U102</cusip>
        <identifiers>
          <isin value="US31931U1025"/>
          <ticker value="FRBA"/>
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        <balance>2319.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34344.39000000</valUSD>
        <pctVal>0.008032706708</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>Biohaven Ltd</name>
        <lei>N/A</lei>
        <title>Biohaven Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="VGG1110E1079"/>
          <ticker value="BHVN"/>
          <other otherDesc="SEDOL" value="BPLZ7S5"/>
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        <balance>8500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>204340.00000000</valUSD>
        <pctVal>0.047792471746</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>Energizer Holdings Inc</name>
        <lei>5493000D6NN0V57UME20</lei>
        <title>Energizer Holdings Inc</title>
        <cusip>29272W109</cusip>
        <identifiers>
          <isin value="US29272W1099"/>
          <ticker value="ENR"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>748000.00000000</valUSD>
        <pctVal>0.174947483931</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>AKOUOS INC</name>
        <lei>N/A</lei>
        <title>AKOUOS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="009CVR036"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25000.00000000</valUSD>
        <pctVal>0.005847175265</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Parrot SA</name>
        <lei>9695000KELLFSASOM232</lei>
        <title>Parrot SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0004038263"/>
          <ticker value="PARRO"/>
          <other otherDesc="SEDOL" value="B04VST3"/>
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        <balance>61000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <pctVal>0.106446462139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Charter Communications Inc</name>
        <lei>0J0XRGZE3PBRFEZ7MV65</lei>
        <title>Charter Communications Inc</title>
        <cusip>16119P108</cusip>
        <identifiers>
          <isin value="US16119P1084"/>
          <ticker value="CHTR"/>
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        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>368530.00000000</valUSD>
        <pctVal>0.086194380017</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>Patterson Cos Inc</name>
        <lei>YM48Q2087CUE26GWEK09</lei>
        <title>Patterson Cos Inc</title>
        <cusip>703395103</cusip>
        <identifiers>
          <isin value="US7033951036"/>
          <ticker value="PDCO"/>
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        <balance>1500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>46860.00000000</valUSD>
        <pctVal>0.010959945316</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>J M Smucker Co/The</name>
        <lei>5493000WDH6A0LHDJD55</lei>
        <title>J M Smucker Co/The</title>
        <cusip>832696405</cusip>
        <identifiers>
          <isin value="US8326964058"/>
          <ticker value="SJM"/>
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        <balance>2200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>260502.00000000</valUSD>
        <pctVal>0.060928034036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sierra Metals Inc</name>
        <lei>9676001YCHZE7AT8VA50</lei>
        <title>Sierra Metals Inc</title>
        <cusip>82639W106</cusip>
        <identifiers>
          <isin value="CA82639W1068"/>
          <ticker value="SMTSF"/>
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        <balance>92000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50324.00000000</valUSD>
        <pctVal>0.011770129921</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797NP8</cusip>
        <identifiers>
          <isin value="US912797NP82"/>
          <other otherDesc="SEDOL" value="BN7T6L3"/>
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        <balance>5125000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5086150.86000000</valUSD>
        <pctVal>1.189584620124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-05</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States Steel Corp</name>
        <lei>JNLUVFYJT1OZSIQ24U47</lei>
        <title>United States Steel Corp</title>
        <cusip>912909108</cusip>
        <identifiers>
          <isin value="US9129091081"/>
          <ticker value="X"/>
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        <balance>17000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>718420.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Liberty Global Ltd</name>
        <lei>213800HRMKKTYH7SKA24</lei>
        <title>Liberty Global Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG611881274"/>
          <ticker value="LBTYK"/>
          <other otherDesc="SEDOL" value="BS71BR5"/>
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        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>359100.00000000</valUSD>
        <pctVal>0.083988825507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</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>Brookfield Corp</name>
        <lei>C6J3FGIWG6MBDGTE8F80</lei>
        <title>Brookfield Corp</title>
        <cusip>11271J107</cusip>
        <identifiers>
          <isin value="CA11271J1075"/>
          <ticker value="BN"/>
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        <balance>3800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>199158.00000000</valUSD>
        <pctVal>0.046580469257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Beacon Roofing Supply Inc</name>
        <lei>549300HDXQWWCBOYXP31</lei>
        <title>Beacon Roofing Supply Inc</title>
        <cusip>073685109</cusip>
        <identifiers>
          <isin value="US0736851090"/>
          <ticker value="BECN"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>618500.00000000</valUSD>
        <pctVal>0.144659116058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797LB1</cusip>
        <identifiers>
          <isin value="US912797LB15"/>
          <other otherDesc="SEDOL" value="BSQLDW5"/>
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        <balance>9890000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9838838.44000000</valUSD>
        <pctVal>2.301176510544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Decibel Therapeutics Inc CVR</name>
        <lei>N/A</lei>
        <title>Decibel Therapeutics Inc CVR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="243CVR016"/>
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        <balance>3000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.03000000</valUSD>
        <pctVal>0.000000007016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FUSION PHARMACEUTICALS INC</name>
        <lei>N/A</lei>
        <title>FUSION PHARMACEUTICALS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="FUSN"/>
          <other otherDesc="INTERNAL" value="361CVR012"/>
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        <balance>18000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9000.00000000</valUSD>
        <pctVal>0.002104983095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912797NW34"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
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          <isin value="US29273V1008"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tower Semiconductor Ltd</name>
        <lei>54930086ZSNXZOUX0C54</lei>
        <title>Tower Semiconductor Ltd</title>
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          <isin value="IL0010823792"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Digi International Inc</name>
        <lei>529900KG656HGROI4N27</lei>
        <title>Digi International Inc</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sportsman's Warehouse Holdings</name>
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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>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <cusip>912797NE3</cusip>
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          <isin value="US912797NE36"/>
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        <balance>5960000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-08</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Everi Holdings Inc</name>
        <lei>5299006DK5S7BG10K532</lei>
        <title>Everi Holdings Inc</title>
        <cusip>30034T103</cusip>
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          <isin value="US30034T1034"/>
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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>Intevac Inc</name>
        <lei>N/A</lei>
        <title>Intevac Inc</title>
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          <isin value="US4611481080"/>
          <ticker value="IVAC"/>
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        <balance>1215506.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Valley National Bancorp</name>
        <lei>549300ET52S1UBIB9762</lei>
        <title>Valley National Bancorp</title>
        <cusip>919794107</cusip>
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          <isin value="US9197941076"/>
          <ticker value="VLY"/>
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        <balance>16000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pernod Ricard SA</name>
        <lei>52990097YFPX9J0H5D87</lei>
        <title>Pernod Ricard SA</title>
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          <isin value="FR0000120693"/>
          <ticker value="RI"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>QuidelOrtho Corp</name>
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        <title>QuidelOrtho Corp</title>
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          <isin value="US2197981051"/>
          <ticker value="QDEL"/>
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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>Endeavour Mining PLC</name>
        <lei>529900NI5MXQ91GHXR07</lei>
        <title>Endeavour Mining PLC</title>
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          <isin value="GB00BL6K5J42"/>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>International Paper Co</name>
        <lei>824LMFJDH41EY779Q875</lei>
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          <isin value="US4601461035"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Endeavor Group Holdings Inc</name>
        <lei>N/A</lei>
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          <ticker value="EDR"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Millicom International Cellula</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>Millicom International Cellular SA</title>
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        <name>Fuji Soft Inc</name>
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          <isin value="JP3816600005"/>
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        <name>Liberty Media Corp-Liberty Liv</name>
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        <title>Liberty Media Corp-Liberty Live</title>
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        <name>Alvopetro Energy Ltd</name>
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        <name>Desktop Metal Inc</name>
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          <ticker value="DM"/>
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        <name>LANDOS BIOPHARMA INC</name>
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        <name>Surgery Partners Inc</name>
        <lei>549300LC82HG33S19I03</lei>
        <title>Surgery Partners Inc</title>
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        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Telephone and Data Systems Inc</name>
        <lei>N/A</lei>
        <title>Telephone and Data Systems Inc</title>
        <cusip>879433829</cusip>
        <identifiers>
          <isin value="US8794338298"/>
          <ticker value="TDS"/>
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        <balance>6000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>232440.00000000</valUSD>
        <pctVal>0.054364696744</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>Pan American Silver Corp</name>
        <lei>549300MKTF5851TYIB83</lei>
        <title>Pan American Silver Corp</title>
        <cusip>697900108</cusip>
        <identifiers>
          <isin value="CA6979001089"/>
          <ticker value="PAAS"/>
          <other otherDesc="SEDOL" value="2669272"/>
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        <balance>83000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2143890.00000000</valUSD>
        <pctVal>0.501428023163</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>CONTINGENT VALUE RIGHT</name>
        <lei>N/A</lei>
        <title>CONTINGENT VALUE RIGHT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="339CVR011"/>
        </identifiers>
        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>100.00000000</valUSD>
        <pctVal>0.000023388701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Pinewood Technologies Group PL</name>
        <lei>213800VRSPZFOGMMIS18</lei>
        <title>Pinewood Technologies Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BSB7BS06"/>
          <ticker value="PINE"/>
          <other otherDesc="SEDOL" value="BSB7BS0"/>
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        <balance>35000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
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        <pctVal>0.034366552766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Altaba Inc Escrow</name>
        <lei>N/A</lei>
        <title>Altaba Inc Escrow</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="021ESC017"/>
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        <balance>235000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>358375.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797ND5</cusip>
        <identifiers>
          <isin value="US912797ND52"/>
          <other otherDesc="SEDOL" value="BSZ7PH3"/>
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        <balance>5075000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5057088.75000000</valUSD>
        <pctVal>1.182787370095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <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>Bio-Rad Laboratories Inc</title>
        <cusip>090572207</cusip>
        <identifiers>
          <isin value="US0905722072"/>
          <ticker value="BIO"/>
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        <balance>400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97424.00000000</valUSD>
        <pctVal>0.022786208121</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>UGI Corp</name>
        <lei>DX6GCWD4Q1JO9CRE5I40</lei>
        <title>UGI Corp</title>
        <cusip>902681105</cusip>
        <identifiers>
          <isin value="US9026811052"/>
          <ticker value="UGI"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1653500.00000000</valUSD>
        <pctVal>0.386732172033</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>Gulf Coast Ultra Deep Royalty</name>
        <lei>549300LVVWU3NPP3DF95</lei>
        <title>Gulf Coast Ultra Deep Royalty Trust</title>
        <cusip>40222T104</cusip>
        <identifiers>
          <isin value="US40222T1043"/>
          <ticker value="GULTU"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5000.00000000</valUSD>
        <pctVal>0.001169435053</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>Paratek Pharmaceuticals CVR</name>
        <lei>N/A</lei>
        <title>Paratek Pharmaceuticals CVR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="699CVR031"/>
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        <balance>140000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2800.00000000</valUSD>
        <pctVal>0.000654883629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APA Corp</name>
        <lei>549300VCIWLRHYVSHC79</lei>
        <title>APA Corp</title>
        <cusip>03743Q108</cusip>
        <identifiers>
          <isin value="US03743Q1085"/>
          <ticker value="APA"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>525500.00000000</valUSD>
        <pctVal>0.122907624072</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>Viatris Inc</name>
        <lei>254900ZZTSW7NL773X71</lei>
        <title>Viatris Inc</title>
        <cusip>92556V106</cusip>
        <identifiers>
          <isin value="US92556V1061"/>
          <ticker value="VTRS"/>
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        <balance>132000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1149720.00000000</valUSD>
        <pctVal>0.268904573831</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>Liberty Global Ltd</name>
        <lei>213800HRMKKTYH7SKA24</lei>
        <title>Liberty Global Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG611881019"/>
          <ticker value="LBTYA"/>
          <other otherDesc="SEDOL" value="BS71B31"/>
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        <balance>145000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1668950.00000000</valUSD>
        <pctVal>0.390345726347</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>
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      <invstOrSec>
        <name>Nevro Corp</name>
        <lei>254900SH91I4BOYKUE38</lei>
        <title>Nevro Corp</title>
        <cusip>64157F103</cusip>
        <identifiers>
          <isin value="US64157F1030"/>
          <ticker value="NVRO"/>
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        <balance>101500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>592760.00000000</valUSD>
        <pctVal>0.138638864405</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>Hess Corp</name>
        <lei>UASVRYNXNK17ULIGK870</lei>
        <title>Hess Corp</title>
        <cusip>42809H107</cusip>
        <identifiers>
          <isin value="US42809H1077"/>
          <ticker value="HES"/>
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        <balance>3500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>559055.00000000</valUSD>
        <pctVal>0.130755702713</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>ANSYS Inc</name>
        <lei>549300VJV8H15Z5FJ571</lei>
        <title>ANSYS Inc</title>
        <cusip>03662Q105</cusip>
        <identifiers>
          <isin value="US03662Q1058"/>
          <ticker value="ANSS"/>
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        <balance>400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>126624.00000000</valUSD>
        <pctVal>0.029615708830</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>Kinross Gold Corp</name>
        <lei>549300UEBMAQDN0K0R06</lei>
        <title>Kinross Gold Corp</title>
        <cusip>496902404</cusip>
        <identifiers>
          <isin value="CA4969024047"/>
          <ticker value="K"/>
          <other otherDesc="SEDOL" value="B03Z841"/>
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        <balance>4257.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.43905000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Koninklijke KPN NV</name>
        <lei>549300YO0JZHAL7FVP81</lei>
        <title>Koninklijke KPN NV</title>
        <cusip>000000000</cusip>
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          <isin value="NL0000009082"/>
          <ticker value="KPN"/>
          <other otherDesc="SEDOL" value="5956078"/>
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        <balance>120000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MultiChoice Group</name>
        <lei>254900BVQQ7DFBMSVJ81</lei>
        <title>MultiChoice Group</title>
        <cusip>000000000</cusip>
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          <isin value="ZAE000265971"/>
          <ticker value="MCG"/>
          <other otherDesc="SEDOL" value="BHZSKR4"/>
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        <balance>140000.00000000</balance>
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        <currencyConditional curCd="ZAR" exchangeRt="18.33500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797NC7</cusip>
        <identifiers>
          <isin value="US912797NC79"/>
          <other otherDesc="SEDOL" value="BSF06H9"/>
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        <balance>39110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39004105.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-24</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>National Fuel Gas Co</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
        <title>National Fuel Gas Co</title>
        <cusip>636180101</cusip>
        <identifiers>
          <isin value="US6361801011"/>
          <ticker value="NFG"/>
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        <balance>48500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3840715.00000000</valUSD>
        <pctVal>0.898293349930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Playtech Plc</name>
        <lei>21380068TTB6Z9ZEU548</lei>
        <title>Playtech Plc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IM00B7S9G985"/>
          <ticker value="PTEC"/>
          <other otherDesc="SEDOL" value="B7S9G98"/>
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        <balance>6000.00000000</balance>
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        <valUSD>54020.99000000</valUSD>
        <pctVal>0.012634807860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>POSEIDA THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>POSEIDA THERAPEUTICS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="PSTX"/>
          <other otherDesc="INTERNAL" value="737CVR019"/>
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        <balance>8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4000.00000000</valUSD>
        <pctVal>0.000935548042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICOSAVAX INC</name>
        <lei>N/A</lei>
        <title>ICOSAVAX INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="451CVR021"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9000.00000000</valUSD>
        <pctVal>0.002104983095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Atlanta Braves Holdings Inc</name>
        <lei>N/A</lei>
        <title>Atlanta Braves Holdings Inc</title>
        <cusip>047726104</cusip>
        <identifiers>
          <isin value="US0477261046"/>
          <ticker value="BATRA"/>
        </identifiers>
        <balance>34500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1513515.00000000</valUSD>
        <pctVal>0.353991498853</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>Cogeco Inc</name>
        <lei>5493000KSZQCX0QM2V25</lei>
        <title>Cogeco Inc</title>
        <cusip>19238T100</cusip>
        <identifiers>
          <isin value="CA19238T1003"/>
          <ticker value="CGO"/>
          <other otherDesc="SEDOL" value="2186890"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.43905000"/>
        <valUSD>397011.92000000</valUSD>
        <pctVal>0.092855931142</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WI TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TREASURY BILL- WHEN ISSUED</title>
        <cusip>912797PX9</cusip>
        <identifiers>
          <isin value="US912797PX98"/>
          <other otherDesc="SEDOL" value="BPCQL96"/>
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        <balance>6500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6374613.18000000</valUSD>
        <pctVal>1.490939220425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Macy's Inc</name>
        <lei>529900NZQ81TIOW3CW52</lei>
        <title>Macy's Inc</title>
        <cusip>55616P104</cusip>
        <identifiers>
          <isin value="US55616P1049"/>
          <ticker value="M"/>
        </identifiers>
        <balance>13500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>169560.00000000</valUSD>
        <pctVal>0.039657881517</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>Omnicom Group Inc</name>
        <lei>HKUPACFHSSASQK8HLS17</lei>
        <title>Omnicom Group Inc</title>
        <cusip>681919106</cusip>
        <identifiers>
          <isin value="US6819191064"/>
          <ticker value="OMC"/>
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        <balance>-688.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-57042.08000000</valUSD>
        <pctVal>-0.01334140156</pctVal>
        <payoffProfile>Short</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>PREVAIL THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>PREVAIL THERAPEUTICS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="741CVR013"/>
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        <balance>11000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2200.00000000</valUSD>
        <pctVal>0.000514551423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>American Tower Corp</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp</title>
        <cusip>03027X100</cusip>
        <identifiers>
          <isin value="US03027X1000"/>
          <ticker value="AMT"/>
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        <balance>500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>108800.00000000</valUSD>
        <pctVal>0.025446906753</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>Mativ Holdings Inc</name>
        <lei>549300Z1FU4IDULG1R21</lei>
        <title>Mativ Holdings Inc</title>
        <cusip>808541106</cusip>
        <identifiers>
          <isin value="US8085411069"/>
          <ticker value="MATV"/>
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        <balance>29000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>180670.00000000</valUSD>
        <pctVal>0.042256366205</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WideOpenWest Inc</name>
        <lei>549300RM6J2BWWOFU889</lei>
        <title>WideOpenWest Inc</title>
        <cusip>96758W101</cusip>
        <identifiers>
          <isin value="US96758W1018"/>
          <ticker value="WOW"/>
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        <balance>500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2475000.00000000</valUSD>
        <pctVal>0.578870351244</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>Freeport-McMoRan Inc</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan Inc</title>
        <cusip>35671D857</cusip>
        <identifiers>
          <isin value="US35671D8570"/>
          <ticker value="FCX"/>
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        <balance>32500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1230450.00000000</valUSD>
        <pctVal>0.287786272197</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>Sinclair Inc</name>
        <lei>N/A</lei>
        <title>Sinclair Inc</title>
        <cusip>829242106</cusip>
        <identifiers>
          <isin value="US8292421067"/>
          <ticker value="SBGI"/>
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        <balance>168000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2676240.00000000</valUSD>
        <pctVal>0.625937773258</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>DMC Global Inc</name>
        <lei>549300CBDXD1Z5MRNG02</lei>
        <title>DMC Global Inc</title>
        <cusip>23291C103</cusip>
        <identifiers>
          <isin value="US23291C1036"/>
          <ticker value="BOOM"/>
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        <balance>8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>67360.00000000</valUSD>
        <pctVal>0.015754629034</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>ConocoPhillips</name>
        <lei>WPTL2Z3FIYTHSP5V2253</lei>
        <title>ConocoPhillips</title>
        <cusip>20825C104</cusip>
        <identifiers>
          <isin value="US20825C1045"/>
          <ticker value="COP"/>
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        <balance>4000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>420080.00000000</valUSD>
        <pctVal>0.098251255414</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>ConocoPhillips</name>
        <lei>WPTL2Z3FIYTHSP5V2253</lei>
        <title>ConocoPhillips</title>
        <cusip>20825C104</cusip>
        <identifiers>
          <isin value="US20825C1045"/>
          <ticker value="COP"/>
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        <balance>-4000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-420080.00000000</valUSD>
        <pctVal>-0.09825125541</pctVal>
        <payoffProfile>Short</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>Covestro AG</name>
        <lei>3912005AWHKLQ1CPLV11</lei>
        <title>Covestro AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A40KY26"/>
          <ticker value="1CO"/>
          <other otherDesc="SEDOL" value="BRBLFV6"/>
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        <balance>4000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Interpublic Group of Cos Inc/T</name>
        <lei>5493008IUOJ5VWTRC333</lei>
        <title>Interpublic Group of Cos Inc/The</title>
        <cusip>460690100</cusip>
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          <isin value="US4606901001"/>
          <ticker value="IPG"/>
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        <balance>2000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54320.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Equitable Holdings Inc</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc</title>
        <cusip>29452E101</cusip>
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          <isin value="US29452E1010"/>
          <ticker value="EQH"/>
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        <balance>23500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1224115.00000000</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>Pan American Silver CVR</name>
        <lei>549300MKTF5851TYIB83</lei>
        <title>Pan American Silver CVR</title>
        <cusip>697900132</cusip>
        <identifiers>
          <isin value="CA6979001329"/>
          <ticker value="PAASF"/>
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        <balance>2200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>940280.00000000</valUSD>
        <pctVal>0.219919278330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797MH7</cusip>
        <identifiers>
          <isin value="US912797MH75"/>
          <other otherDesc="SEDOL" value="BSY4XH1"/>
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        <balance>15500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15225624.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-04</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Spirent Communications PLC</name>
        <lei>213800HKCUNWP1916L38</lei>
        <title>Spirent Communications PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0004726096"/>
          <ticker value="SPT"/>
          <other otherDesc="SEDOL" value="0472609"/>
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        <balance>140000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
        <valUSD>340892.83000000</valUSD>
        <pctVal>0.079730404944</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>
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      </invstOrSec>
      <invstOrSec>
        <name>ABIOMED Inc</name>
        <lei>N/A</lei>
        <title>ABIOMED Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="2223637D"/>
          <other otherDesc="INTERNAL" value="003CVR016"/>
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        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>96000.00000000</valUSD>
        <pctVal>0.022453153017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Village Bank and Trust Financi</name>
        <lei>549300NIJITDSZ8M7H32</lei>
        <title>Village Bank and Trust Financial Corp</title>
        <cusip>92705T200</cusip>
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          <isin value="US92705T2006"/>
          <ticker value="VBFC"/>
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        <balance>9000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>721890.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797LW5</cusip>
        <identifiers>
          <isin value="US912797LW51"/>
          <other otherDesc="SEDOL" value="BT5FJ05"/>
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        <balance>12000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11860358.28000000</valUSD>
        <pctVal>2.773983742798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-10</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Linde PLC</name>
        <lei>5299003QR1WT0EF88V51</lei>
        <title>Linde PLC</title>
        <cusip>000000000</cusip>
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          <isin value="IE000S9YS762"/>
          <ticker value="LIN"/>
          <other otherDesc="SEDOL" value="BNZHB81"/>
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        <balance>1200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>558768.00000000</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>
      <invstOrSec>
        <name>Fiserv Inc</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv Inc</title>
        <cusip>337738108</cusip>
        <identifiers>
          <isin value="US3377381088"/>
          <ticker value="FI"/>
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        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>220830.00000000</valUSD>
        <pctVal>0.051649268551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Globus Medical Inc</name>
        <lei>5299003M2P4CIK0RF205</lei>
        <title>Globus Medical Inc</title>
        <cusip>379577208</cusip>
        <identifiers>
          <isin value="US3795772082"/>
          <ticker value="GMED"/>
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        <balance>5700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>417240.00000000</valUSD>
        <pctVal>0.097587016304</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>Liberty Media Corp-Liberty For</name>
        <lei>N/A</lei>
        <title>Liberty Media Corp-Liberty Formula One</title>
        <cusip>531229771</cusip>
        <identifiers>
          <isin value="US5312297717"/>
          <ticker value="FWONA"/>
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        <balance>2000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>162940.00000000</valUSD>
        <pctVal>0.038109549507</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>Idorsia Ltd</name>
        <lei>506700XOVZUB107S5720</lei>
        <title>Idorsia Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0363463438"/>
          <ticker value="IDIA"/>
          <other otherDesc="SEDOL" value="BF0YK62"/>
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        <balance>32000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.88470000"/>
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        <pctVal>0.008620534931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Perrigo Co PLC</name>
        <lei>549300IFOQS6R1QLY196</lei>
        <title>Perrigo Co PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BGH1M568"/>
          <ticker value="PRGO"/>
          <other otherDesc="SEDOL" value="BGH1M56"/>
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        <balance>73200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2052528.00000000</valUSD>
        <pctVal>0.480059638100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Albertsons Cos Inc</name>
        <lei>549300YKWOC0AOR16R51</lei>
        <title>Albertsons Cos Inc</title>
        <cusip>013091103</cusip>
        <identifiers>
          <isin value="US0130911037"/>
          <ticker value="ACI"/>
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        <balance>24000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>527760.00000000</valUSD>
        <pctVal>0.123436208716</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>Orange Belgium SA</name>
        <lei>5493007JS0ZHJVBUWP18</lei>
        <title>Orange Belgium SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0003735496"/>
          <ticker value="OBEL"/>
          <other otherDesc="SEDOL" value="5541979"/>
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        <balance>91000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <pctVal>0.349814080379</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>
        <name>ICU Medical Inc</name>
        <lei>5493003NRW7LS2QZRH60</lei>
        <title>ICU Medical Inc</title>
        <cusip>44930G107</cusip>
        <identifiers>
          <isin value="US44930G1076"/>
          <ticker value="ICUI"/>
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        <balance>500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69430.00000000</valUSD>
        <pctVal>0.016238775146</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>ALLETE Inc</name>
        <lei>549300NNLSIMY6Z8OT86</lei>
        <title>ALLETE Inc</title>
        <cusip>018522300</cusip>
        <identifiers>
          <isin value="US0185223007"/>
          <ticker value="ALE"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2628000.00000000</valUSD>
        <pctVal>0.614655063866</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>SGL Carbon SE</name>
        <lei>52990038IB31TYK07X63</lei>
        <title>SGL Carbon SE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0007235301"/>
          <ticker value="SGL"/>
          <other otherDesc="SEDOL" value="4818351"/>
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        <balance>18000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>65494.34000000</valUSD>
        <pctVal>0.015318275394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONTRA ADAMAS PHARMACE</name>
        <lei>N/A</lei>
        <title>CONTRA ADAMAS PHARMACE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="005CVR022"/>
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        <balance>65000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>812.50000000</valUSD>
        <pctVal>0.000190033196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bapcor Ltd</name>
        <lei>N/A</lei>
        <title>Bapcor Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000BAP9"/>
          <ticker value="BAP"/>
          <other otherDesc="SEDOL" value="BLD2CY7"/>
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        <balance>35000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.60038409"/>
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        <pctVal>0.023120028034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Target Hospitality Corp</name>
        <lei>N/A</lei>
        <title>Target Hospitality Corp</title>
        <cusip>87615L107</cusip>
        <identifiers>
          <isin value="US87615L1070"/>
          <ticker value="TH"/>
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        <balance>3500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23030.00000000</valUSD>
        <pctVal>0.005386417854</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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      <invstOrSec>
        <name>MIRATI THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>MIRATI THERAPEUTICS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="MRTX"/>
          <other otherDesc="INTERNAL" value="604CVR027"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17500.00000000</valUSD>
        <pctVal>0.004093022685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State Street Bank and Trust Company</name>
        <lei>571474TGEMMWANRLN572</lei>
        <title>CAD/USD FORWARD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="N/A"/>
          <other otherDesc="INTERNAL" value="AUUDXY4RNNITVWEKOS4ENKB4G"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>4395.15000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>State Street Bank and Trust Company</counterpartyName>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dawson Geophysical Co</name>
        <lei>549300R9G1EAMSMLXR09</lei>
        <title>Dawson Geophysical Co</title>
        <cusip>239360100</cusip>
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          <isin value="US2393601008"/>
          <ticker value="DWSN"/>
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        <balance>79200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97416.00000000</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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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797PN1</cusip>
        <identifiers>
          <isin value="US912797PN17"/>
          <other otherDesc="SEDOL" value="BTRFW59"/>
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        <balance>4500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4430032.02000000</valUSD>
        <pctVal>1.036126946036</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-14</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Endesa SA</name>
        <lei>549300LHK07F2CHV4X31</lei>
        <title>Endesa SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0130670112"/>
          <ticker value="ELE"/>
          <other otherDesc="SEDOL" value="5271782"/>
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        <balance>20000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>529837.00000000</valUSD>
        <pctVal>0.123921992037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Gen Digital Inc</name>
        <lei>YF6ZV0M6AU4FY94MK914</lei>
        <title>Gen Digital Inc</title>
        <cusip>668771108</cusip>
        <identifiers>
          <isin value="US6687711084"/>
          <ticker value="GEN"/>
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        <balance>9200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>244168.00000000</valUSD>
        <pctVal>0.057107723605</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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      </invstOrSec>
      <invstOrSec>
        <name>Healthcare Realty Trust Inc</name>
        <lei>549300L0I14L7I0VLX84</lei>
        <title>Healthcare Realty Trust Inc</title>
        <cusip>42226K105</cusip>
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          <isin value="US42226K1051"/>
          <ticker value="HR"/>
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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>
      <invstOrSec>
        <name>CONTRA ADAMAS PHARMACE</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="005CVR014"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Remy Cointreau SA</name>
        <lei>5493004V6A3Z027YT216</lei>
        <title>Remy Cointreau SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000130395"/>
          <ticker value="RCO"/>
          <other otherDesc="SEDOL" value="4741714"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Millrose Properties Inc</name>
        <lei>N/A</lei>
        <title>Millrose Properties Inc</title>
        <cusip>601137102</cusip>
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          <isin value="US6011371027"/>
          <ticker value="MRP"/>
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        <balance>405500.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Millrose Properties Inc</name>
        <lei>N/A</lei>
        <title>Millrose Properties Inc</title>
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          <isin value="US6011371027"/>
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        <balance>-322500.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SIGILON THERAPEUTICS INC CVR</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="826CVR037"/>
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        <balance>800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6040.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pactiv Evergreen Inc</name>
        <lei>894500GNKGJRUSH1F791</lei>
        <title>Pactiv Evergreen Inc</title>
        <cusip>69526K105</cusip>
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          <isin value="US69526K1051"/>
          <ticker value="PTVE"/>
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        <balance>32000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>576320.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>H&amp;E Equipment Services Inc</name>
        <lei>254900KVLRCDMQRYY541</lei>
        <title>H&amp;E Equipment Services Inc</title>
        <cusip>404030108</cusip>
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          <isin value="US4040301081"/>
          <ticker value="HEES"/>
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        <balance>9000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>853110.00000000</valUSD>
        <pctVal>0.199531347616</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMBIT BIOSCIENCES CORP CVR</name>
        <lei>N/A</lei>
        <title>AMBIT BIOSCIENCES CORP CVR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="AMBICVR"/>
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        <balance>187969.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.19000000</valUSD>
        <pctVal>0.000000044438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SouthState Corp</name>
        <lei>549300JZUANXM0YQ4W53</lei>
        <title>SouthState Corp</title>
        <cusip>840441109</cusip>
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          <isin value="US8404411097"/>
          <ticker value="SSB"/>
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        <balance>6700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>621894.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Triumph Group Inc</name>
        <lei>5493007L6S47Q14SL582</lei>
        <title>Triumph Group Inc</title>
        <cusip>896818101</cusip>
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          <isin value="US8968181011"/>
          <ticker value="TGI"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>76020.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CFT SpA</name>
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        <title>CFT SpA</title>
        <cusip>000000000</cusip>
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          <isin value="IT0005262313"/>
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          <other otherDesc="SEDOL" value="BF5GLD7"/>
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        <balance>25000.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rogers Corp</name>
        <lei>PW0CN80KNFR7RUOOKJ84</lei>
        <title>Rogers Corp</title>
        <cusip>775133101</cusip>
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          <isin value="US7751331015"/>
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        <curCd>USD</curCd>
        <valUSD>1519425.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CINCOR</name>
        <lei>N/A</lei>
        <title>CINCOR</title>
        <cusip>000000000</cusip>
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        <balance>4000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797KS5</cusip>
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          <isin value="US912797KS58"/>
          <other otherDesc="SEDOL" value="BRJFGZ1"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>104801.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Innergex Renewable Energy Inc</name>
        <lei>549300EORYEC4J59SU80</lei>
        <title>Innergex Renewable Energy Inc</title>
        <cusip>45790B104</cusip>
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          <isin value="CA45790B1040"/>
          <ticker value="INE"/>
          <other otherDesc="SEDOL" value="B29TNV3"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TherapeuticsMD Inc</name>
        <lei>5299004JS7RE49QHRW30</lei>
        <title>TherapeuticsMD Inc</title>
        <cusip>88338N206</cusip>
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          <isin value="US88338N2062"/>
          <ticker value="TXMD"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2775.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wartsila OYJ Abp</name>
        <lei>743700G7A9J1PHM3X223</lei>
        <title>Wartsila OYJ Abp</title>
        <cusip>000000000</cusip>
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          <isin value="FI0009003727"/>
          <ticker value="WRT1V"/>
          <other otherDesc="SEDOL" value="4525189"/>
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        <invCountry>FI</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMPCO-PITTSBURGH CORP</name>
        <lei>N/A</lei>
        <title>Ampco-Pittsburgh Corp</title>
        <cusip>032037111</cusip>
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          <isin value="US0320371117"/>
          <ticker value="AP/WS"/>
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        <balance>102000.00000000</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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      <invstOrSec>
        <name>KKR &amp; Co Inc</name>
        <lei>54930013V5I303TF9571</lei>
        <title>KKR &amp; Co Inc</title>
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          <isin value="US48251W1045"/>
          <ticker value="KKR"/>
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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>First Horizon Corp</name>
        <lei>TF3RXI1ZB1TQ30H9JV10</lei>
        <title>First Horizon Corp</title>
        <cusip>320517105</cusip>
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          <isin value="US3205171057"/>
          <ticker value="FHN"/>
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        <balance>32500.00000000</balance>
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        <valUSD>631150.00000000</valUSD>
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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>RADIUS HEALTH INC</name>
        <lei>N/A</lei>
        <title>RADIUS HEALTH INC</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="750CVR011"/>
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        <balance>2000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.02000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Atlanta Braves Holdings Inc</name>
        <lei>N/A</lei>
        <title>Atlanta Braves Holdings Inc</title>
        <cusip>047726302</cusip>
        <identifiers>
          <isin value="US0477263026"/>
          <ticker value="BATRK"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1000250.00000000</valUSD>
        <pctVal>0.233945482356</pctVal>
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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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bon-Ton Stores Inc/The</name>
        <lei>N/A</lei>
        <title>Bon-Ton Stores Inc/The</title>
        <cusip>09776J101</cusip>
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          <isin value="US09776J1016"/>
          <ticker value="BONTQ"/>
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        <balance>101770.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Madison Square Garden Sports C</name>
        <lei>N/A</lei>
        <title>Madison Square Garden Sports Corp</title>
        <cusip>55825T103</cusip>
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          <isin value="US55825T1034"/>
          <ticker value="MSGS"/>
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        <balance>6500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1265680.00000000</valUSD>
        <pctVal>0.296026111580</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>Silicon Motion Technology Corp</name>
        <lei>5299005RBVBZQJTYFC89</lei>
        <title>Silicon Motion Technology Corp</title>
        <cusip>82706C108</cusip>
        <identifiers>
          <isin value="US82706C1080"/>
          <ticker value="SIMO"/>
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        <balance>500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25280.00000000</valUSD>
        <pctVal>0.005912663628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TXNM Energy Inc</name>
        <lei>5493003JOBJGLZSDDQ28</lei>
        <title>TXNM Energy Inc</title>
        <cusip>69349H107</cusip>
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          <isin value="US69349H1077"/>
          <ticker value="TXNM"/>
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        <balance>112000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5989760.00000000</valUSD>
        <pctVal>1.400927060633</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>Stratasys Ltd</name>
        <lei>529900MU215GIP9SZ741</lei>
        <title>Stratasys Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="IL0011267213"/>
          <ticker value="SSYS"/>
          <other otherDesc="SEDOL" value="B7WD7D7"/>
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        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>587400.00000000</valUSD>
        <pctVal>0.137385230028</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>Mastercard Inc</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>Mastercard Inc</title>
        <cusip>57636Q104</cusip>
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          <isin value="US57636Q1040"/>
          <ticker value="MA"/>
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        <balance>800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>438496.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Steel Partners Holdings LP</name>
        <lei>5493009U8Z59G5SIZ389</lei>
        <title>Steel Partners Holdings LP</title>
        <cusip>85814R107</cusip>
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          <isin value="US85814R1077"/>
          <ticker value="SPLP"/>
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        <balance>37000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1517185.00000000</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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      <invstOrSec>
        <name>Bioventus Inc</name>
        <lei>N/A</lei>
        <title>Bioventus Inc</title>
        <cusip>09075A108</cusip>
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          <isin value="US09075A1088"/>
          <ticker value="BVS"/>
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        <balance>8500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>77775.00000000</valUSD>
        <pctVal>0.018190562249</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Astec Industries Inc</name>
        <lei>5493002DO2QKHLKB2A48</lei>
        <title>Astec Industries Inc</title>
        <cusip>046224101</cusip>
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          <isin value="US0462241011"/>
          <ticker value="ASTE"/>
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        <balance>32405.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1116352.25000000</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>Kinross Gold Corp</name>
        <lei>549300UEBMAQDN0K0R06</lei>
        <title>Kinross Gold Corp</title>
        <cusip>496902198</cusip>
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          <isin value="CA4969021985"/>
          <other otherDesc="SEDOL" value="BPR9XS3"/>
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        <balance>10000.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.43905000"/>
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        <pctVal>0.000000016372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lennar Corp</name>
        <lei>529900G61XVRLX5TJX09</lei>
        <title>Lennar Corp</title>
        <cusip>526057104</cusip>
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          <isin value="US5260571048"/>
          <ticker value="LEN"/>
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        <balance>-640000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-73459200.00000000</valUSD>
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        <payoffProfile>Short</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>Frontier Communications Parent</name>
        <lei>N/A</lei>
        <title>Frontier Communications Parent Inc</title>
        <cusip>35909D109</cusip>
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          <isin value="US35909D1090"/>
          <ticker value="FYBR"/>
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        <balance>10500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>376530.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INNOCOLL</name>
        <lei>N/A</lei>
        <title>INNOCOLL</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BYCVRV8"/>
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        <balance>640000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.64000000</valUSD>
        <pctVal>0.000000149687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GRACELL BIOTECHNOLOGIES INC</name>
        <lei>N/A</lei>
        <title>GRACELL BIOTECHNOLOGIES INC</title>
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          <other otherDesc="INTERNAL" value="384CVR015"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LENSAR Inc</name>
        <lei>N/A</lei>
        <title>LENSAR Inc</title>
        <cusip>52634L108</cusip>
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          <isin value="US52634L1089"/>
          <ticker value="LNSR"/>
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        <balance>3500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49420.00000000</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>Nordstrom Inc</name>
        <lei>549300S3IZB5P35KNV16</lei>
        <title>Nordstrom Inc</title>
        <cusip>655664100</cusip>
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          <isin value="US6556641008"/>
          <ticker value="JWN"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>611250.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chimerix Inc</name>
        <lei>5299002IR2GXUBEPKS66</lei>
        <title>Chimerix Inc</title>
        <cusip>16934W106</cusip>
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          <isin value="US16934W1062"/>
          <ticker value="CMRX"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25530.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>State Street Bank and Trust Company</name>
        <lei>571474TGEMMWANRLN572</lei>
        <title>USD/GBP FORWARD</title>
        <cusip>000000000</cusip>
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          <ticker value="N/A"/>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797NN3</cusip>
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          <isin value="US912797NN35"/>
          <other otherDesc="SEDOL" value="BTG00Q2"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Rocket Internet SE</name>
        <lei>3912003IMZTQTU1V0F73</lei>
        <title>Rocket Internet SE</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A12UKK6"/>
          <ticker value="RKET"/>
          <other otherDesc="SEDOL" value="BR17150"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pharol SGPS SA</name>
        <lei>549300JNP3LA8FWLU630</lei>
        <title>Pharol SGPS SA</title>
        <cusip>000000000</cusip>
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          <isin value="PTPTC0AM0009"/>
          <ticker value="PHR"/>
          <other otherDesc="SEDOL" value="5817186"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>McGrath RentCorp</name>
        <lei>254900EUH6IPWFQ83445</lei>
        <title>McGrath RentCorp</title>
        <cusip>580589109</cusip>
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          <isin value="US5805891091"/>
          <ticker value="MGRC"/>
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        <balance>18500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2060900.00000000</valUSD>
        <pctVal>0.482017740153</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>QIAGEN NV</name>
        <lei>54930036WK3GMCN17Z57</lei>
        <title>QIAGEN NV</title>
        <cusip>000000000</cusip>
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          <isin value="NL0015002CX3"/>
          <ticker value="QGEN"/>
          <other otherDesc="SEDOL" value="BS2CPH1"/>
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        <balance>11666.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>468389.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Aquis Exchange PLC</name>
        <lei>213800IXJSF5E1SIW150</lei>
        <title>Aquis Exchange PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BD5JNK30"/>
          <ticker value="AQX"/>
          <other otherDesc="SEDOL" value="BD5JNK3"/>
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        <balance>5000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
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        <pctVal>0.010649855579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</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>AllianceBernstein Holding LP</name>
        <lei>N/A</lei>
        <title>AllianceBernstein Holding LP</title>
        <cusip>01881G106</cusip>
        <identifiers>
          <isin value="US01881G1067"/>
          <ticker value="AB"/>
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        <balance>120000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4597200.00000000</valUSD>
        <pctVal>1.075225365147</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>IMAX China Holding Inc</name>
        <lei>254900UPBAZQ2AIEQ396</lei>
        <title>IMAX China Holding Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG476341030"/>
          <ticker value="1970"/>
          <other otherDesc="SEDOL" value="BYVYK42"/>
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        <balance>170000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.78145000"/>
        <valUSD>171497.60000000</valUSD>
        <pctVal>0.040111060989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Myers Industries Inc</name>
        <lei>549300I2H9XMVTCW4Q51</lei>
        <title>Myers Industries Inc</title>
        <cusip>628464109</cusip>
        <identifiers>
          <isin value="US6284641098"/>
          <ticker value="MYE"/>
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        <balance>70000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>835100.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EW Scripps Co/The</name>
        <lei>549300U1OW41QPKYW028</lei>
        <title>EW Scripps Co/The</title>
        <cusip>811054402</cusip>
        <identifiers>
          <isin value="US8110544025"/>
          <ticker value="SSP"/>
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        <balance>35000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>103600.00000000</valUSD>
        <pctVal>0.024230694298</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>Newmont Corp</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>Newmont Corp</title>
        <cusip>651639106</cusip>
        <identifiers>
          <isin value="US6516391066"/>
          <ticker value="NEM"/>
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        <balance>30500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1472540.00000000</valUSD>
        <pctVal>0.344407978594</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>Surmodics Inc</name>
        <lei>549300H76KXCAAGUS878</lei>
        <title>Surmodics Inc</title>
        <cusip>868873100</cusip>
        <identifiers>
          <isin value="US8688731004"/>
          <ticker value="SRDX"/>
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        <balance>98000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2991940.00000000</valUSD>
        <pctVal>0.699775902505</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>iRobot Corp</name>
        <lei>5493009PRNKOUKBAT390</lei>
        <title>iRobot Corp</title>
        <cusip>462726100</cusip>
        <identifiers>
          <isin value="US4627261005"/>
          <ticker value="IRBT"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13500.00000000</valUSD>
        <pctVal>0.003157474643</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>Ampco-Pittsburgh Corp</name>
        <lei>N/A</lei>
        <title>Ampco-Pittsburgh Corp</title>
        <cusip>032037103</cusip>
        <identifiers>
          <isin value="US0320371034"/>
          <ticker value="AP"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>434000.00000000</valUSD>
        <pctVal>0.101506962602</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>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797PQ4</cusip>
        <identifiers>
          <isin value="US912797PQ48"/>
          <other otherDesc="SEDOL" value="BTJX0M4"/>
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        <balance>3200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3145615.01000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-28</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797NM5</cusip>
        <identifiers>
          <isin value="US912797NM51"/>
          <other otherDesc="SEDOL" value="BTPH097"/>
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        <balance>12375000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12301018.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-22</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Severn Trent PLC</name>
        <lei>213800RPBXRETY4A4C59</lei>
        <title>Severn Trent PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1FH8J72"/>
          <ticker value="SVT"/>
          <other otherDesc="SEDOL" value="B1FH8J7"/>
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        <balance>57000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
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        <pctVal>0.435864575447</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>
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      </invstOrSec>
      <invstOrSec>
        <name>OPIANT PHARMACEUTICALS INC</name>
        <lei>N/A</lei>
        <title>OPIANT PHARMACEUTICALS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="683CVR013"/>
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        <balance>3000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1500.00000000</valUSD>
        <pctVal>0.000350830515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AIX Inc</name>
        <lei>254900NUPTYHZ8HHTK43</lei>
        <title>AIX Inc</title>
        <cusip>30712A103</cusip>
        <identifiers>
          <isin value="US30712A1034"/>
          <ticker value="AIFU"/>
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        <balance>12000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2522.40000000</valUSD>
        <pctVal>0.000589956595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Rockwell Automation Inc</name>
        <lei>VH3R4HHBHH12O0EXZJ88</lei>
        <title>Rockwell Automation Inc</title>
        <cusip>773903109</cusip>
        <identifiers>
          <isin value="US7739031091"/>
          <ticker value="ROK"/>
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        <balance>1800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>465084.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kellanova</name>
        <lei>LONOZNOJYIBXOHXWDB86</lei>
        <title>Kellanova</title>
        <cusip>487836108</cusip>
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          <isin value="US4878361082"/>
          <ticker value="K"/>
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        <balance>200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16498.00000000</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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      <invstOrSec>
        <name>NII Holdings Escrow</name>
        <lei>N/A</lei>
        <title>NII Holdings Escrow</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="629ESC013"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140000.00000000</valUSD>
        <pctVal>0.032744181484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sanyo Special Steel Co Ltd</name>
        <lei>353800W8GAQF6S13HA33</lei>
        <title>Sanyo Special Steel Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3342000001"/>
          <ticker value="5481"/>
          <other otherDesc="SEDOL" value="6777063"/>
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        <balance>20000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Juniper Networks Inc</name>
        <lei>AUHIXNGG7U2U7JEHM527</lei>
        <title>Juniper Networks Inc</title>
        <cusip>48203R104</cusip>
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          <isin value="US48203R1041"/>
          <ticker value="JNPR"/>
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        <balance>119000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4306610.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Just Eat Takeaway.com NV</name>
        <lei>724500FVZIBSSQ7SHI95</lei>
        <title>Just Eat Takeaway.com NV</title>
        <cusip>000000000</cusip>
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          <isin value="NL0012015705"/>
          <ticker value="TKWY"/>
          <other otherDesc="SEDOL" value="BYQ7HZ6"/>
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        <balance>18000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>377200.69000000</valUSD>
        <pctVal>0.088222341781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sampo Oyj</name>
        <lei>743700UF3RL386WIDA22</lei>
        <title>Sampo Oyj</title>
        <cusip>000000000</cusip>
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          <isin value="FI4000552500"/>
          <ticker value="SAMPO"/>
          <other otherDesc="SEDOL" value="BRBSCR2"/>
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        <balance>2500.00000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.89965000"/>
        <valUSD>23885.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Despegar.com Corp</name>
        <lei>N/A</lei>
        <title>Despegar.com Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="VGG273581030"/>
          <ticker value="DESP"/>
          <other otherDesc="SEDOL" value="BDFS4G3"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>187900.00000000</valUSD>
        <pctVal>0.043947369292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AR</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>Yamada Holdings Co Ltd</name>
        <lei>353800MDZ4K1DQKLO464</lei>
        <title>Yamada Holdings Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3939000000"/>
          <ticker value="9831"/>
          <other otherDesc="SEDOL" value="6985026"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>CHINOOK THERAPEUTICS INC CVR</name>
        <lei>N/A</lei>
        <title>CHINOOK THERAPEUTICS INC CVR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="KDNY"/>
          <other otherDesc="INTERNAL" value="169CVR016"/>
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        <balance>195960.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97980.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CNH Industrial NV</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH Industrial NV</title>
        <cusip>000000000</cusip>
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          <isin value="NL0010545661"/>
          <ticker value="CNH"/>
          <other otherDesc="SEDOL" value="BDX85Z1"/>
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        <balance>250000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3070000.00000000</valUSD>
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        <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>
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      <invstOrSec>
        <name>Lennar Corp</name>
        <lei>529900G61XVRLX5TJX09</lei>
        <title>Lennar Corp</title>
        <cusip>526057302</cusip>
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          <isin value="US5260573028"/>
          <ticker value="LEN/B"/>
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        <balance>808800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>88215816.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797PF8</cusip>
        <identifiers>
          <isin value="US912797PF82"/>
          <other otherDesc="SEDOL" value="BTWN742"/>
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        <balance>14000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13815573.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-24</maturityDt>
          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Spirit AeroSystems Holdings In</name>
        <lei>N/A</lei>
        <title>Spirit AeroSystems Holdings Inc</title>
        <cusip>848574109</cusip>
        <identifiers>
          <isin value="US8485741099"/>
          <ticker value="SPR"/>
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        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1033800.00000000</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>AZEK Co Inc/The</name>
        <lei>5493002LDDDU1RX46815</lei>
        <title>AZEK Co Inc/The</title>
        <cusip>05478C105</cusip>
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          <isin value="US05478C1053"/>
          <ticker value="AZEK"/>
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        <balance>2000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97780.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Logility Supply Chain Solution</name>
        <lei>N/A</lei>
        <title>Logility Supply Chain Solutions Inc</title>
        <cusip>029683109</cusip>
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          <isin value="US0296831094"/>
          <ticker value="LGTY"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>713000.00000000</valUSD>
        <pctVal>0.166761438560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Paycor HCM Inc</name>
        <lei>N/A</lei>
        <title>Paycor HCM Inc</title>
        <cusip>70435P102</cusip>
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          <isin value="US70435P1021"/>
          <ticker value="PYCR"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>224400.00000000</valUSD>
        <pctVal>0.052484245179</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>Vulcan Materials Co</name>
        <lei>549300Q8LSNHAVWBNI21</lei>
        <title>Vulcan Materials Co</title>
        <cusip>929160109</cusip>
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          <isin value="US9291601097"/>
          <ticker value="VMC"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2333000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797PW1</cusip>
        <identifiers>
          <isin value="US912797PW16"/>
          <other otherDesc="SEDOL" value="BR4XWB8"/>
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        <balance>6800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6673842.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-11</maturityDt>
          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sunrise Communications AG</name>
        <lei>529900N9U6KXXOUJT875</lei>
        <title>Sunrise Communications AG</title>
        <cusip>000000000</cusip>
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          <isin value="CH1386220409"/>
          <ticker value="SUNN"/>
          <other otherDesc="SEDOL" value="BM9WB18"/>
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        <balance>32500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797NB9</cusip>
        <identifiers>
          <isin value="US912797NB96"/>
          <other otherDesc="SEDOL" value="BSVLV59"/>
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        <balance>15755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15738289.77000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-10</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southwest Gas Holdings Inc</name>
        <lei>254900LKF9EV0CUKNE09</lei>
        <title>Southwest Gas Holdings Inc</title>
        <cusip>844895102</cusip>
        <identifiers>
          <isin value="US8448951025"/>
          <ticker value="SWX"/>
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        <balance>26000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1866800.00000000</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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      <invstOrSec>
        <name>Liberty Latin America Ltd</name>
        <lei>213800YWQHEAX7CAVO83</lei>
        <title>Liberty Latin America Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="BMG9001E1286"/>
          <ticker value="LILAK"/>
          <other otherDesc="SEDOL" value="BD9Q3Q6"/>
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        <balance>2081.00000000</balance>
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        <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>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Air Transport Services Group I</name>
        <lei>5493000F3MSFGIXTQE27</lei>
        <title>Air Transport Services Group Inc</title>
        <cusip>00922R105</cusip>
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          <isin value="US00922R1059"/>
          <ticker value="ATSG"/>
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        <curCd>USD</curCd>
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        <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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      <invstOrSec>
        <name>Venture Global Inc</name>
        <lei>2549007XC91CAB3E0N98</lei>
        <title>Venture Global Inc</title>
        <cusip>92333F101</cusip>
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          <ticker value="VG"/>
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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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      <invstOrSec>
        <name>Global Blue Group Holding AG</name>
        <lei>N/A</lei>
        <title>Global Blue Group Holding AG</title>
        <cusip>000000000</cusip>
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          <isin value="CH0562152865"/>
          <ticker value="GB"/>
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        <balance>6500.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MONEYLION INC</name>
        <lei>N/A</lei>
        <title>MONEYLION INC</title>
        <cusip>60938K304</cusip>
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          <isin value="US60938K3041"/>
          <ticker value="ML"/>
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        <balance>2500.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Checkpoint Therapeutics Inc</name>
        <lei>549300NTOG3NRUKVKI74</lei>
        <title>Checkpoint Therapeutics Inc</title>
        <cusip>162828206</cusip>
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          <isin value="US1628282063"/>
          <ticker value="CKPT"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12120.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Fox Corp</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp</title>
        <cusip>35137L204</cusip>
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          <isin value="US35137L2043"/>
          <ticker value="FOX"/>
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        <balance>127000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6694170.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VOXX International Corp</name>
        <lei>EC1QKSEOVR96PYJPNS25</lei>
        <title>VOXX International Corp</title>
        <cusip>91829F104</cusip>
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          <isin value="US91829F1049"/>
          <ticker value="VOXX"/>
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        <balance>517500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3881250.00000000</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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      </invstOrSec>
      <invstOrSec>
        <name>Myrexis Inc</name>
        <lei>N/A</lei>
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        <cusip>62856H107</cusip>
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          <isin value="US62856H1077"/>
          <ticker value="MYRX"/>
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        <curCd>USD</curCd>
        <valUSD>3031.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Capri Holdings Ltd</name>
        <lei>549300LPG8W0H1OX3A26</lei>
        <title>Capri Holdings Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="VGG1890L1076"/>
          <ticker value="CPRI"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ALBIREO PHARMA INC</name>
        <lei>N/A</lei>
        <title>ALBIREO PHARMA INC</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="013CVR022"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22500.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Brookfield Asset Management Lt</name>
        <lei>549300CZ84WPNJZKY093</lei>
        <title>Brookfield Asset Management Ltd</title>
        <cusip>113004105</cusip>
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          <isin value="CA1130041058"/>
          <ticker value="BAM"/>
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        <balance>1000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48450.00000000</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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      <invstOrSec>
        <name>ChampionX Corp</name>
        <lei>549300EP2909K6DYYP38</lei>
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          <isin value="US15872M1045"/>
          <ticker value="CHX"/>
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        <balance>36500.00000000</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>Illumina Inc</name>
        <lei>SQ95QG8SR5Q56LSNF682</lei>
        <title>Illumina Inc</title>
        <cusip>452327109</cusip>
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          <isin value="US4523271090"/>
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        <balance>300.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23802.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bang &amp; Olufsen A/S</name>
        <lei>52990018KGR3ILFDNJ20</lei>
        <title>Bang &amp; Olufsen A/S</title>
        <cusip>000000000</cusip>
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          <isin value="DK0010218429"/>
          <ticker value="BO"/>
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        <balance>10000.00000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.89965000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>DK</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cross Country Healthcare Inc</name>
        <lei>54930037L0NBIPZ5S663</lei>
        <title>Cross Country Healthcare Inc</title>
        <cusip>227483104</cusip>
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          <isin value="US2274831047"/>
          <ticker value="CCRN"/>
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        <balance>18000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>268020.00000000</valUSD>
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        <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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      <invstOrSec>
        <name>SolarWinds Corp</name>
        <lei>N/A</lei>
        <title>SolarWinds Corp</title>
        <cusip>83417Q204</cusip>
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          <isin value="US83417Q2049"/>
          <ticker value="SWI"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>368600.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Manchester United Plc</name>
        <lei>529900GWGZPE83MJOV59</lei>
        <title>Manchester United Plc</title>
        <cusip>000000000</cusip>
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          <isin value="KYG5784H1065"/>
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          <other otherDesc="SEDOL" value="B8Q8MV8"/>
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        <balance>54000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Telefonica Deutschland Holding</name>
        <lei>391200ECRPJ3SWQJUM30</lei>
        <title>Telefonica Deutschland Holding AG</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A1J5RX9"/>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Johnson Controls International</name>
        <lei>549300XQ6S1GYKGBL205</lei>
        <title>Johnson Controls International plc</title>
        <cusip>000000000</cusip>
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          <isin value="IE00BY7QL619"/>
          <ticker value="JCI"/>
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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>Liberty Latin America Ltd</name>
        <lei>213800YWQHEAX7CAVO83</lei>
        <title>Liberty Latin America Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="BMG9001E1021"/>
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          <other otherDesc="SEDOL" value="BD9Q3P5"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CNFinance Holdings Ltd</name>
        <lei>N/A</lei>
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        <cusip>18979T105</cusip>
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          <isin value="US18979T1051"/>
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        <invCountry>CN</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Playa Hotels &amp; Resorts NV</name>
        <lei>529900BUP3KWPCJNLS49</lei>
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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>EPIZYME INCCONTINGENT</name>
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        <balance>28000.00000000</balance>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Primo Brands Corp</name>
        <lei>254900J0WS4AXV2LAX55</lei>
        <title>Primo Brands Corp</title>
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        <name>Resolute Forest Products Inc</name>
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        <name>Dun &amp; Bradstreet Holdings Inc</name>
        <lei>254900LNALVKD1ZX7U27</lei>
        <title>Dun &amp; Bradstreet Holdings Inc</title>
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        <name>Iveco Group NV</name>
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        <name>Velan Inc</name>
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        <title>Velan Inc</title>
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        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
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        <name>Alerion Cleanpower SpA</name>
        <lei>81560090173FFC67B069</lei>
        <title>Alerion Cleanpower SpA</title>
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        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>722818.77000000</valUSD>
        <pctVal>0.169057921323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Enstar Group Ltd</name>
        <lei>213800AMAL5QFXVUCN04</lei>
        <title>Enstar Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG3075P1014"/>
          <ticker value="ESGR"/>
          <other otherDesc="SEDOL" value="B1Q76J2"/>
        </identifiers>
        <balance>7300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2426374.00000000</valUSD>
        <pctVal>0.567497361466</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>Valmet Oyj</name>
        <lei>213800D9O7FUQDH83V62</lei>
        <title>Valmet Oyj</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI4000074984"/>
          <ticker value="VALMT"/>
          <other otherDesc="SEDOL" value="BH6XZT5"/>
        </identifiers>
        <balance>12500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>337230.44000000</valUSD>
        <pctVal>0.078873819496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ONEOK Inc</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK Inc</title>
        <cusip>682680103</cusip>
        <identifiers>
          <isin value="US6826801036"/>
          <ticker value="OKE"/>
        </identifiers>
        <balance>26000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2579720.00000000</valUSD>
        <pctVal>0.603362998994</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>Olam Group Ltd</name>
        <lei>9845006F83F5EEC2A704</lei>
        <title>Olam Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SGXE65760014"/>
          <ticker value="OLG"/>
          <other otherDesc="SEDOL" value="BNM1NQ8"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34355000"/>
        <valUSD>8797.59000000</valUSD>
        <pctVal>0.002057642025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-05-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Gabelli Investor Funds Inc</ncom:nameOfApplicant>
      <ncom:signature>John C. Ball</ncom:signature>
      <ncom:signerName>John C. Ball</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
