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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Amdocs Ltd</name>
        <lei>549300HQV672RJ7RQV66</lei>
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          <isin value="GB0022569080"/>
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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>Amkor Technology Inc</name>
        <lei>529900VHLRTKPWZJBM84</lei>
        <title>Amkor Technology Inc</title>
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          <isin value="US0316521006"/>
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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>Western Digital Corp</name>
        <lei>549300QQXOOYEF89IC56</lei>
        <title>Western Digital Corp</title>
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          <isin value="US9581021055"/>
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        <balance>21105.00000000</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>IDACORP Inc</name>
        <lei>N134NUJDWN8UEFA8B673</lei>
        <title>IDACORP Inc</title>
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          <isin value="US4511071064"/>
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        <balance>146431.00000000</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>Service Corp International/US</name>
        <lei>549300RKVM2ME20JHZ15</lei>
        <title>Service Corp International/US</title>
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          <isin value="US8175651046"/>
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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>Hyatt Hotels Corp</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>Hyatt Hotels Corp</title>
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          <isin value="US4485791028"/>
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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>MKS Inc</name>
        <lei>549300KEQATBHAGVF505</lei>
        <title>MKS Inc</title>
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          <isin value="US55306N1046"/>
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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>RPM International Inc</name>
        <lei>549300TJCKW4BRXPJ474</lei>
        <title>RPM International Inc</title>
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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>Reliance Inc</name>
        <lei>549300E287ZOFT3C5Z56</lei>
        <title>Reliance Inc</title>
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          <isin value="US7595091023"/>
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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>Quest Diagnostics Inc</name>
        <lei>8MCWUBXQ0WE04KMXBX50</lei>
        <title>Quest Diagnostics Inc</title>
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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>Packaging Corp of America</name>
        <lei>549300XZP8MFZFY8TJ84</lei>
        <title>Packaging Corp of America</title>
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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>Avery Dennison Corp</name>
        <lei>549300PW7VPFCYKLIV37</lei>
        <title>Avery Dennison Corp</title>
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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>DT Midstream Inc</name>
        <lei>N/A</lei>
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        <cusip>23345M107</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Equity LifeStyle Properties Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Acushnet Holdings Corp</name>
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        <name>Hamilton Lane Inc</name>
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        <title>Hamilton Lane Inc</title>
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        <name>Terreno Realty Corp</name>
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        <name>Essential Properties Realty Trust Inc</name>
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        <name>Littelfuse Inc</name>
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        <name>Verisk Analytics Inc</name>
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        <title>Verisk Analytics Inc</title>
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        <name>Hubbell Inc</name>
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        <title>Hubbell Inc</title>
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        <name>Lincoln Electric Holdings Inc</name>
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        <name>Targa Resources Corp</name>
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        <title>Targa Resources Corp</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Brunswick Corp/DE</name>
        <lei>YM4O38W15AX4YLLQKU27</lei>
        <title>Brunswick Corp/DE</title>
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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>Nordson Corp</name>
        <lei>14OS6Q5N55N95WM84M53</lei>
        <title>Nordson Corp</title>
        <cusip>655663102</cusip>
        <identifiers>
          <isin value="US6556631025"/>
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        <balance>63704.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18304070.32000000</valUSD>
        <pctVal>1.191290487294</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>LCI Industries</name>
        <lei>549300E1B98YNJ1WIQ04</lei>
        <title>LCI Industries</title>
        <cusip>50189K103</cusip>
        <identifiers>
          <isin value="US50189K1034"/>
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        <balance>108562.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11835429.24000000</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Regency Centers Corp</name>
        <lei>529900053A7X7FJ97S58</lei>
        <title>Regency Centers Corp</title>
        <cusip>758849103</cusip>
        <identifiers>
          <isin value="US7588491032"/>
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        <balance>171934.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13299094.90000000</valUSD>
        <pctVal>0.865549845855</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>Crane Co</name>
        <lei>5493000CQRQOTHUODL75</lei>
        <title>Crane Co</title>
        <cusip>224408104</cusip>
        <identifiers>
          <isin value="US2244081046"/>
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        <balance>135680.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24829440.00000000</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>Watsco Inc</name>
        <lei>549300F1Y3LN5BX5WN75</lei>
        <title>Watsco Inc</title>
        <cusip>942622200</cusip>
        <identifiers>
          <isin value="US9426222009"/>
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        <balance>31346.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11507116.60000000</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>Expand Energy Corp</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Expand Energy Corp</title>
        <cusip>165167735</cusip>
        <identifiers>
          <isin value="US1651677353"/>
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        <balance>102713.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9550254.74000000</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>Assured Guaranty Ltd</name>
        <lei>549300BBOQUJEPH87M14</lei>
        <title>Assured Guaranty Ltd</title>
        <cusip>G0585R106</cusip>
        <identifiers>
          <isin value="BMG0585R1060"/>
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        <balance>235509.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17477122.89000000</valUSD>
        <pctVal>1.137469965977</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Principal Funds, Inc - Government Money Market Fund - Class R-6</name>
        <lei>N/A</lei>
        <title>Principal Funds, Inc - Government Money Market Fund - Class R-6</title>
        <cusip>74257B639</cusip>
        <identifiers>
          <isin value="US74257B6395"/>
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        <balance>14911363.57000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14911363.57000000</valUSD>
        <pctVal>0.970481715978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ingredion Inc</name>
        <lei>PKSTQ48QDN0XSVS7YK88</lei>
        <title>Ingredion Inc</title>
        <cusip>457187102</cusip>
        <identifiers>
          <isin value="US4571871023"/>
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        <balance>228600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23189184.00000000</valUSD>
        <pctVal>1.509230123375</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>Magnolia Oil &amp; Gas Corp</name>
        <lei>N/A</lei>
        <title>Magnolia Oil &amp; Gas Corp</title>
        <cusip>559663109</cusip>
        <identifiers>
          <isin value="US5596631094"/>
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        <balance>276087.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7553740.32000000</valUSD>
        <pctVal>0.491622837401</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>Omnicom Group Inc</name>
        <lei>HKUPACFHSSASQK8HLS17</lei>
        <title>Omnicom Group Inc</title>
        <cusip>681919106</cusip>
        <identifiers>
          <isin value="US6819191064"/>
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        <balance>99042.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7201343.82000000</valUSD>
        <pctVal>0.468687687411</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>Timken Co/The</name>
        <lei>B0I35MLPFXZSE70ASS73</lei>
        <title>Timken Co/The</title>
        <cusip>887389104</cusip>
        <identifiers>
          <isin value="US8873891043"/>
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        <balance>195372.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25003708.56000000</valUSD>
        <pctVal>1.627325487384</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>ServisFirst Bancshares Inc</name>
        <lei>N/A</lei>
        <title>ServisFirst Bancshares Inc</title>
        <cusip>81768T108</cusip>
        <identifiers>
          <isin value="US81768T1088"/>
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        <balance>311454.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24290297.46000000</valUSD>
        <pctVal>1.580894292459</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>Camden Property Trust</name>
        <lei>5493002MYX22OHYJBD89</lei>
        <title>Camden Property Trust</title>
        <cusip>133131102</cusip>
        <identifiers>
          <isin value="US1331311027"/>
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        <balance>114336.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12183644.16000000</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>Dick's Sporting Goods Inc</name>
        <lei>529900SSBV5I4LWSK313</lei>
        <title>Dick's Sporting Goods Inc</title>
        <cusip>253393102</cusip>
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          <isin value="US2533931026"/>
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        <balance>132095.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30060859.15000000</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>NRG Energy Inc</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy Inc</title>
        <cusip>629377508</cusip>
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          <isin value="US6293775085"/>
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        <balance>83594.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11208283.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CH Robinson Worldwide Inc</name>
        <lei>529900WNWN5L0OVDHA79</lei>
        <title>CH Robinson Worldwide Inc</title>
        <cusip>12541W209</cusip>
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          <isin value="US12541W2098"/>
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        <balance>89066.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15911640.90000000</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>Owens Corning</name>
        <lei>JO5M6676RDJIZ2U8X907</lei>
        <title>Owens Corning</title>
        <cusip>690742101</cusip>
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          <isin value="US6907421019"/>
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        <balance>113380.00000000</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>
        <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>MSA Safety Inc</name>
        <lei>529900DVA3258XK11O39</lei>
        <title>MSA Safety Inc</title>
        <cusip>553498106</cusip>
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          <isin value="US5534981064"/>
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        <balance>102550.00000000</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>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Leidos Holdings Inc</name>
        <lei>549300IUTGTP6EJP8124</lei>
        <title>Leidos Holdings Inc</title>
        <cusip>525327102</cusip>
        <identifiers>
          <isin value="US5253271028"/>
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        <balance>170755.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21822489.00000000</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>Snap-on Inc</name>
        <lei>HHWAT5TDOYZMM26KKQ73</lei>
        <title>Snap-on Inc</title>
        <cusip>833034101</cusip>
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          <isin value="US8330341012"/>
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        <balance>61583.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22860225.43000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STERIS PLC</name>
        <lei>549300F1857N5E6G6T48</lei>
        <title>STERIS PLC</title>
        <cusip>G8473T100</cusip>
        <identifiers>
          <isin value="IE00BFY8C754"/>
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        <balance>142830.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30384225.90000000</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>Warner Music Group Corp</name>
        <lei>N/A</lei>
        <title>Warner Music Group Corp</title>
        <cusip>934550203</cusip>
        <identifiers>
          <isin value="US9345502036"/>
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        <balance>309671.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9767023.34000000</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>nVent Electric PLC</name>
        <lei>N/A</lei>
        <title>nVent Electric PLC</title>
        <cusip>G6700G107</cusip>
        <identifiers>
          <isin value="IE00BDVJJQ56"/>
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        <balance>248422.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41483989.78000000</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>Alliant Energy Corp</name>
        <lei>5493009ML300G373MZ12</lei>
        <title>Alliant Energy Corp</title>
        <cusip>018802108</cusip>
        <identifiers>
          <isin value="US0188021085"/>
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        <balance>257698.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18453753.78000000</valUSD>
        <pctVal>1.201032390537</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>East West Bancorp Inc</name>
        <lei>254900O4X656YXFOYB11</lei>
        <title>East West Bancorp Inc</title>
        <cusip>27579R104</cusip>
        <identifiers>
          <isin value="US27579R1041"/>
        </identifiers>
        <balance>338362.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41462879.48000000</valUSD>
        <pctVal>2.698543713876</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>Hanover Insurance Group Inc/The</name>
        <lei>JJYR6MFKFF6CF8DBZ078</lei>
        <title>Hanover Insurance Group Inc/The</title>
        <cusip>410867105</cusip>
        <identifiers>
          <isin value="US4108671052"/>
        </identifiers>
        <balance>66703.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12420098.60000000</valUSD>
        <pctVal>0.808341808940</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>Wintrust Financial Corp</name>
        <lei>Q774KI4AW80FHFW33O61</lei>
        <title>Wintrust Financial Corp</title>
        <cusip>97650W108</cusip>
        <identifiers>
          <isin value="US97650W1080"/>
        </identifiers>
        <balance>238138.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35775471.74000000</valUSD>
        <pctVal>2.328388080752</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>TD SYNNEX Corp</name>
        <lei>5493004HI6PFLF46NS53</lei>
        <title>TD SYNNEX Corp</title>
        <cusip>87162W100</cusip>
        <identifiers>
          <isin value="US87162W1009"/>
        </identifiers>
        <balance>97142.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25381261.76000000</valUSD>
        <pctVal>1.651897920059</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>Fidelity National Financial Inc</name>
        <lei>549300CAZYIH39SYQ287</lei>
        <title>Fidelity National Financial Inc</title>
        <cusip>31620R303</cusip>
        <identifiers>
          <isin value="US31620R3030"/>
        </identifiers>
        <balance>240821.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11402874.35000000</valUSD>
        <pctVal>0.742137431920</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>Concentra Group Holdings Parent Inc</name>
        <lei>N/A</lei>
        <title>Concentra Group Holdings Parent Inc</title>
        <cusip>20603L102</cusip>
        <identifiers>
          <isin value="US20603L1026"/>
        </identifiers>
        <balance>867242.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21568308.54000000</valUSD>
        <pctVal>1.403738094399</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>Comfort Systems USA Inc</name>
        <lei>5299009DT1ZA5HTU6R38</lei>
        <title>Comfort Systems USA Inc</title>
        <cusip>199908104</cusip>
        <identifiers>
          <isin value="US1999081045"/>
        </identifiers>
        <balance>14863.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27172685.23000000</valUSD>
        <pctVal>1.768489787399</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>Raymond James Financial Inc</name>
        <lei>RGUZHJ05YTITL6D76949</lei>
        <title>Raymond James Financial Inc</title>
        <cusip>754730109</cusip>
        <identifiers>
          <isin value="US7547301090"/>
        </identifiers>
        <balance>143045.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20514083.45000000</valUSD>
        <pctVal>1.335125578208</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>Domino's Pizza Inc</name>
        <lei>25490005ZWM1IF9UXU57</lei>
        <title>Domino's Pizza Inc</title>
        <cusip>25754A201</cusip>
        <identifiers>
          <isin value="US25754A2015"/>
        </identifiers>
        <balance>24870.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7724124.60000000</valUSD>
        <pctVal>0.502712019665</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>Equitable Holdings Inc</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc</title>
        <cusip>29452E101</cusip>
        <identifiers>
          <isin value="US29452E1010"/>
        </identifiers>
        <balance>588336.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24327693.60000000</valUSD>
        <pctVal>1.583328159083</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>Bio-Techne Corp</name>
        <lei>54930073RLKQ51TILZ35</lei>
        <title>Bio-Techne Corp</title>
        <cusip>09073M104</cusip>
        <identifiers>
          <isin value="US09073M1045"/>
        </identifiers>
        <balance>262088.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13544707.84000000</valUSD>
        <pctVal>0.881535162446</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>Williams-Sonoma Inc</name>
        <lei>549300IARG6YWVTZ1I92</lei>
        <title>Williams-Sonoma Inc</title>
        <cusip>969904101</cusip>
        <identifiers>
          <isin value="US9699041011"/>
        </identifiers>
        <balance>147518.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30030239.26000000</valUSD>
        <pctVal>1.954469018977</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>Federal Agricultural Mortgage Corp</name>
        <lei>549300MS654K78GYF580</lei>
        <title>Federal Agricultural Mortgage Corp</title>
        <cusip>313148306</cusip>
        <identifiers>
          <isin value="US3131483063"/>
        </identifiers>
        <balance>146646.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26072192.34000000</valUSD>
        <pctVal>1.696866007099</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>EastGroup Properties Inc</name>
        <lei>31TIGQQZC4P6JMHKSW85</lei>
        <title>EastGroup Properties Inc</title>
        <cusip>277276101</cusip>
        <identifiers>
          <isin value="US2772761019"/>
        </identifiers>
        <balance>95901.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19363370.91000000</valUSD>
        <pctVal>1.260233334103</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>Cullen/Frost Bankers Inc</name>
        <lei>529900V2E9G9AY665O34</lei>
        <title>Cullen/Frost Bankers Inc</title>
        <cusip>229899109</cusip>
        <identifiers>
          <isin value="US2298991090"/>
        </identifiers>
        <balance>215406.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29191821.12000000</valUSD>
        <pctVal>1.899901945256</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>Huntington Ingalls Industries Inc</name>
        <lei>5TZLZ6WJTBVJ0QWBG121</lei>
        <title>Huntington Ingalls Industries Inc</title>
        <cusip>446413106</cusip>
        <identifiers>
          <isin value="US4464131063"/>
        </identifiers>
        <balance>42742.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13171802.14000000</valUSD>
        <pctVal>0.857265204710</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>Permian Resources Corp</name>
        <lei>529900NXUJPOKU7OJ511</lei>
        <title>Permian Resources Corp</title>
        <cusip>71424F105</cusip>
        <identifiers>
          <isin value="US71424F1057"/>
        </identifiers>
        <balance>1047517.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20143751.91000000</valUSD>
        <pctVal>1.311023155466</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>NiSource Inc</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource Inc</title>
        <cusip>65473P105</cusip>
        <identifiers>
          <isin value="US65473P1057"/>
        </identifiers>
        <balance>498498.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23040577.56000000</valUSD>
        <pctVal>1.499558316218</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>Four Corners Property Trust Inc</name>
        <lei>549300SVTPZPBDVNER42</lei>
        <title>Four Corners Property Trust Inc</title>
        <cusip>35086T109</cusip>
        <identifiers>
          <isin value="US35086T1097"/>
        </identifiers>
        <balance>420977.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10482327.30000000</valUSD>
        <pctVal>0.682225132382</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>Nexstar Media Group Inc</name>
        <lei>52990083ZRR5UT591988</lei>
        <title>Nexstar Media Group Inc</title>
        <cusip>65336K103</cusip>
        <identifiers>
          <isin value="US65336K1034"/>
        </identifiers>
        <balance>94456.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16853784.08000000</valUSD>
        <pctVal>1.096900978766</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>Marzetti Company/The</name>
        <lei>529900X4O13HED1ZAS58</lei>
        <title>Marzetti Company/The</title>
        <cusip>513847103</cusip>
        <identifiers>
          <isin value="US5138471033"/>
        </identifiers>
        <balance>80568.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9018781.92000000</valUSD>
        <pctVal>0.586972674408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="It is a policy to obtain additional collateral from, or return excess collateral to, the borrower by the end of the next business day following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than that required under the lending contract." noteItem="C.12.a"/>
      <explntrNote note="Returns shown 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>2026-06-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Principal Funds, Inc</ncom:nameOfApplicant>
      <ncom:signature>Megan Hoffmann</ncom:signature>
      <ncom:signerName>/s/ Megan Hoffmann</ncom:signerName>
      <ncom:title>Vice President and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
