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        <name>APPLE INC.</name>
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        <name>THE BANCORP, INC.</name>
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        <name>ACADIAN ASSET MANAGEMENT INC.</name>
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        <name>BROADCOM INC.</name>
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        <name>BUILDERS FIRSTSOURCE, INC.</name>
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        <name>THE CIGNA GROUP</name>
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        <name>CNB FINANCIAL CORPORATION</name>
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        <name>CNO FINANCIAL GROUP, INC.</name>
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        <name>CHATHAM LODGING TRUST</name>
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        <name>COMMVAULT SYSTEMS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CONSENSUS CLOUD SOLUTIONS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CONSTELLATION BRANDS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>COREBRIDGE FINANCIAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CORVEL CORPORATION</name>
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        <name>CTO REALTY GROWTH, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CUMMINS INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>D.R. HORTON, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DAVE INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DEERE &amp; COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>DELTA AIR LINES, INC.</name>
        <lei>Q2CCMS6R0AS67HJMBN42</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>DELUXE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Deutsche Post AG</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>DEVON ENERGY CORPORATION</name>
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        <name>DIAMONDROCK HOSPITALITY COMPANY</name>
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        <name>DIODES INCORPORATED</name>
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        <name>DIVERSIFIED HEALTHCARE TRUST</name>
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        <name>DOLLAR GENERAL CORPORATION</name>
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        <name>DROPBOX, INC.</name>
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        <name>DUKE ENERGY CORPORATION</name>
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        <name>EOG RESOURCES, INC.</name>
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        <name>Edgewell Personal Care Company</name>
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        <name>EDISON INTERNATIONAL</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>EDISON INTERNATIONAL</title>
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        <fairValLevel>1</fairValLevel>
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        <name>EMCOR GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ENERGY SERVICES OF AMERICA CORPORATION</name>
        <lei>984500A00BECD43F7B49</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ENNIS, INC.</name>
        <lei>N/A</lei>
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          <isin value="US2933891028"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ENOVA INTERNATIONAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Eversource Energy</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EVOLUTION PETROLEUM CORPORATION</name>
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          <isin value="US30049A1079"/>
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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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      <invstOrSec>
        <name>EXELIXIS, INC.</name>
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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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        <name>EXPEDIA GROUP, INC.</name>
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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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        <name>EXTREME NETWORKS, INC.</name>
        <lei>549300WRECW11X94UB57</lei>
        <title>EXTREME NETWORKS INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>EXXON MOBIL CORPORATION</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>EXXON MOBIL CORP</title>
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          <isin value="US30231G1022"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>META PLATFORMS, INC.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>META PLATFORMS INC</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>FEDEX CORPORATION</name>
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        <title>FEDEX CORP</title>
        <cusip>31428X106</cusip>
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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>FERGUSON ENTERPRISES INC.</name>
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        <title>FERGUSON ENTERPRISES INC</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FIDELITY NATIONAL FINANCIAL, INC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>First BanCorp.</name>
        <lei>N/A</lei>
        <title>FIRST BANCORP PUERTO RICO</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FIRST FINANCIAL BANCORP.</name>
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        <name>1ST SOURCE CORPORATION</name>
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        <name>FIRSTENERGY CORP.</name>
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        <title>FIRSTENERGY CORP</title>
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        <name>FORD MOTOR COMPANY</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>FORD MOTOR CO</title>
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        <name>FORESTAR GROUP INC.</name>
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        <title>FORESTAR GROUP INC</title>
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        <name>FORTUNE BRANDS INNOVATIONS, INC.</name>
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        <title>FORTUNE BRANDS INNOVATION</title>
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        <name>FOX CORPORATION</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>FOX CORP CLASS A</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FRONTDOOR, INC.</name>
        <lei>5493008RB0JZJI3QGZ06</lei>
        <title>FRONTDOOR INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FRONTVIEW REIT, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>G-III APPAREL GROUP, LTD.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GARRETT MOTION INC.</name>
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        <name>GE VERNOVA INC.</name>
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        <name>GENERAL MOTORS COMPANY</name>
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        <name>GENIE ENERGY LTD.</name>
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        <name>GODADDY INC.</name>
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        <name>HP INC.</name>
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        <name>HARMONY BIOSCIENCES HOLDINGS, INC.</name>
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        <name>Hawkins, Inc.</name>
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        <name>HOPE BANCORP, INC.</name>
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        <name>HOST HOTELS &amp; RESORTS, INC.</name>
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        <name>HUB GROUP, INC.</name>
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        <name>IES HOLDINGS, INC.</name>
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        <name>CRESCENT ENERGY COMPANY</name>
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        <name>ILLINOIS TOOL WORKS INC.</name>
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        <name>INDUSTRIAL LOGISTICS PROPERTIES TRUST</name>
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        <name>INGEVITY CORPORATION</name>
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        <name>INGREDION INCORPORATED</name>
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        <name>INSIGHT ENTERPRISES, INC.</name>
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        <name>INSTALLED BUILDING PRODUCTS, INC.</name>
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        <name>INNOVIVA, INC.</name>
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        <name>INTEGRA LIFESCIENCES HOLDINGS CORPORATION</name>
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        <name>INTERPARFUMS INC</name>
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        <name>InterDigital, Inc.</name>
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        <name>INTERNATIONAL BANCSHARES CORPORATION</name>
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        <name>INVENTRUST PROPERTIES CORP.</name>
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        <name>Invesco DB Commodity Index Tracking Fund</name>
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        <name>Invesco RAFI Emerging Markets ETF</name>
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        <name>IRadimed Corp</name>
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        <name>iShares MSCI Canada ETF</name>
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        <name>iShares Core S&amp;P 500 ETF</name>
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        <name>iShares Trust - iShares Russell 1000 Value ETF</name>
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        <name>iShares Core S&amp;P Small-Cap ETF</name>
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        <name>iShares MSCI Europe Financials ETF</name>
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        <name>iShares Core MSCI Emerging Markets ETF</name>
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        <name>iShares Core Universal USD Bond ETF</name>
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        <name>JABIL INC.</name>
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        <name>JPMorgan BetaBuilders Canada ETF</name>
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        <name>JACKSON FINANCIAL INC.</name>
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        <name>JOHNSON &amp; JOHNSON</name>
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        <name>ZIFF DAVIS, INC.</name>
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        <name>KB HOME</name>
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        <name>Kontoor Brands, Inc.</name>
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        <name>THE KRAFT HEINZ COMPANY</name>
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        <name>THE KROGER CO.</name>
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        <name>KULICKE AND SOFFA INDUSTRIES, INC.</name>
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        <name>LAS VEGAS SANDS CORP.</name>
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        <name>Live Oak Bancshares, Inc.</name>
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        <name>LOCKHEED MARTIN CORPORATION</name>
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        <name>LOWE'S COMPANIES, INC.</name>
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        <name>MGE ENERGY, INC.</name>
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        <name>MYR GROUP INC.</name>
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        <name>Matson Inc</name>
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        <name>MERCK &amp; CO., INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pathward Financial, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MICROSOFT CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MICRON TECHNOLOGY, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MILLERKNOLL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MOELIS &amp; COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MOHAWK INDUSTRIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MOLSON COORS BEVERAGE COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MONARCH CASINO &amp; RESORT, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MONSTER BEVERAGE CORPORATION</name>
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        <name>MORGAN STANLEY</name>
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        <title>MORGAN STANLEY</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>THE MOSAIC COMPANY</name>
        <lei>2YD5STGSJNMUB7H76907</lei>
        <title>THE MOSAIC CO</title>
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        <fairValLevel>1</fairValLevel>
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        <name>MUELLER INDUSTRIES, INC.</name>
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        <name>MURPHY OIL CORPORATION</name>
        <lei>QBKYQD0ODE7DC7PDIN91</lei>
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        <name>NRG ENERGY, INC.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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        <name>NAPCO SECURITY TECHNOLOGIES, INC.</name>
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        <name>NATIONAL FUEL GAS COMPANY</name>
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        <name>NATIONAL HEALTH INVESTORS, INC.</name>
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        <name>NETAPP, INC.</name>
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        <name>NETSCOUT SYSTEMS, INC.</name>
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        <name>ADAMAS TRUST, INC.</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>ADAMAS TRUST INC</title>
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        <name>THE NEW YORK TIMES COMPANY</name>
        <lei>529900J1WEMMIW7BOH57</lei>
        <title>NEW YORK TIMES CO THE</title>
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        <name>NEWMARK GROUP, INC.</name>
        <lei>N/A</lei>
        <title>NEWMARK GROUP INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
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        <lei>549300VSP3RIX7FGDZ51</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NORTHEAST COMMUNITY BANCORP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>NORTHERN TRUST CORPORATION</name>
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        <name>DNOW INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NVIDIA CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>O-I GLASS, INC.</name>
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        <name>OFG BANCORP</name>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>OLD SECOND BANCORP, INC.</name>
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        <name>ONESPAN INC.</name>
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        <name>OSHKOSH CORPORATION</name>
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        <name>OUTFRONT MEDIA INC.</name>
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        <name>OWENS CORNING</name>
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        <name>PC CONNECTION, INC.</name>
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        <name>PG&amp;E CORPORATION</name>
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        <name>PJT PARTNERS INC.</name>
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        <name>THE PNC FINANCIAL SERVICES GROUP, INC.</name>
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        <name>PARKER-HANNIFIN CORPORATION</name>
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        <name>PERDOCEO EDUCATION CORPORATION</name>
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        <title>PERDOCEO EDUCATION CORP</title>
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      <invstOrSec>
        <name>Philip Morris International Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PHILLIPS EDISON &amp; COMPANY, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PHINIA INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Popular, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <fairValLevel>1</fairValLevel>
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        <name>THE PROGRESSIVE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Progyny Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PRUDENTIAL FINANCIAL, INC.</name>
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        <name>PULTEGROUP, INC.</name>
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        <name>QUALCOMM INCORPORATED</name>
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        <name>Qualys Inc</name>
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        <name>RPC, INC.</name>
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        <name>RAMBUS INC.</name>
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        <name>RANGE RESOURCES CORPORATION</name>
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        <name>RANGER ENERGY SERVICES, INC.</name>
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        <name>REGIONAL MANAGEMENT CORP.</name>
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        <title>REGIONAL MANAGEMENT CORP</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>RELIANCE, INC.</name>
        <lei>549300E287ZOFT3C5Z56</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>RESIDEO TECHNOLOGIES, INC.</name>
        <lei>5493006TKFPYISY2DS54</lei>
        <title>RESIDEO TECHNOLOGIES INC</title>
        <cusip>76118Y104</cusip>
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        <issuerCat>CORP</issuerCat>
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        <name>RILEY EXPLORATION PERMIAN, INC.</name>
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        <name>ROSS STORES, INC.</name>
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        <name>Rush Street Interactive Inc</name>
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        <name>RYERSON HOLDING CORPORATION</name>
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        <name>SM ENERGY COMPANY</name>
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        <name>SPDR Gold Shares</name>
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        <name>State Street SPDR S&amp;P Emerging Mkts Small Cap ETF</name>
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        <name>SPDR Series Trust - SPDR S&amp;P Biotech ETF</name>
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        <name>THE ST. JOE COMPANY</name>
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        <name>SALESFORCE, INC.</name>
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        <name>SALLY BEAUTY HOLDINGS, INC.</name>
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        <name>SANDISK CORPORATION</name>
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        <name>SANMINA CORPORATION</name>
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        <name>SANOFI SA</name>
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        <name>SCANSOURCE, INC.</name>
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        <name>THE CHARLES SCHWAB CORPORATION</name>
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        <name>Schwab Fundamental EM Equity ETF</name>
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        <name>Schwab Fundamental Intl Small Equity ETF</name>
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        <name>Real Estate Select Sector SPDR Fund</name>
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        <name>SELECT MEDICAL HOLDINGS CORPORATION</name>
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        <name>SELECTIVE INSURANCE GROUP, INC.</name>
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      <invstOrSec>
        <name>SIMMONS FIRST NATIONAL CORPORATION</name>
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        <name>SKYWARD SPECIALTY INSURANCE GROUP, INC.</name>
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        <name>SPROUTS FARMERS MARKET, INC.</name>
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        <name>STATE STREET CORPORATION</name>
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        <name>STEEL DYNAMICS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>STERLING INFRASTRUCTURE, INC.</name>
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        <name>SUNCOKE ENERGY, INC.</name>
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        <name>SUNSTONE HOTEL INVESTORS, INC.</name>
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        <name>SYSCO CORPORATION</name>
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        <name>THE TJX COMPANIES, INC.</name>
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        <name>TPG RE FINANCE TRUST, INC.</name>
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        <name>Tactile Systems Technology Inc</name>
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        <name>TAPESTRY, INC.</name>
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        <name>TAYLOR MORRISON HOME CORPORATION</name>
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        <name>TENET HEALTHCARE CORPORATION</name>
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        <name>TEREX CORPORATION</name>
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        <name>3M COMPANY</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
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        <name>TOLL BROTHERS, INC.</name>
        <lei>529900JB6IS9MSZGVR44</lei>
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        <name>The Travelers Companies, Inc.</name>
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        <name>Versant Media Group, Inc.</name>
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        <name>VERTIV HOLDINGS CO</name>
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        <name>VictoryShares Core Intermediate Bond ETF</name>
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        <name>VictoryShares Short-Term Bond ETF</name>
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          <isin value="US92647N5352"/>
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        <name>VictoryShares Emerging Markets Value Momentum ETF</name>
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        <name>VictoryShares International Free Cash Flow Gr ETF</name>
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        <name>VictoryShares International Free Cash Flow ETF</name>
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        <name>VictoryShares Core Plus Bd ETF</name>
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        <name>VISHAY INTERTECHNOLOGY, INC.</name>
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        <name>THE VITA COCO COMPANY, INC.</name>
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        <name>WALMART INC.</name>
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        <name>CLIMB GLOBAL SOLUTIONS, INC.</name>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <name>WESTAMERICA BANCORPORATION</name>
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        <name>Winmark Corporation</name>
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        <name>WINNEBAGO INDUSTRIES, INC.</name>
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        <name>WORLD ACCEPTANCE CORPORATION</name>
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        <name>YELP INC.</name>
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        <name>AXIS CAPITAL HOLDINGS LIMITED</name>
        <lei>635400VD2NQBYAHMEM55</lei>
        <title>AXIS CAPITAL HOLDINGS LTD</title>
        <cusip>G0692U109</cusip>
        <identifiers>
          <isin value="BMG0692U1099"/>
          <other otherDesc="Internal" value="G0692U109"/>
        </identifiers>
        <balance>3889.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>369182.77000000</valUSD>
        <pctVal>0.012065112636</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>The Bank of N.T. Butterfield &amp; Son Limited</name>
        <lei>549300V8RVM0EMTDPF28</lei>
        <title>BANK OF NT BUTTERFIELD SON LTD THE</title>
        <cusip>G0772R208</cusip>
        <identifiers>
          <isin value="BMG0772R2087"/>
          <other otherDesc="Internal" value="G0772R208"/>
        </identifiers>
        <balance>9413.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>531457.98000000</valUSD>
        <pctVal>0.017368363074</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>ACCENTURE PUBLIC LIMITED COMPANY</name>
        <lei>5493000EWHDSR3MZWH98</lei>
        <title>ACCENTURE PLC</title>
        <cusip>G1151C101</cusip>
        <identifiers>
          <isin value="IE00B4BNMY34"/>
          <other otherDesc="Internal" value="G1151C101"/>
        </identifiers>
        <balance>1625.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>303988.75000000</valUSD>
        <pctVal>0.009934533263</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CIMPRESS PUBLIC LIMITED COMPANY</name>
        <lei>549300X1IFD75XISOR81</lei>
        <title>CIMPRESS PLC</title>
        <cusip>G2143T103</cusip>
        <identifiers>
          <isin value="IE00BKYC3F77"/>
          <other otherDesc="Internal" value="G2143T103"/>
        </identifiers>
        <balance>1984.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>195543.04000000</valUSD>
        <pctVal>0.006390462921</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CRH PUBLIC LIMITED COMPANY</name>
        <lei>549300MIDJNNTH068E74</lei>
        <title>CRH PLC</title>
        <cusip>G25508105</cusip>
        <identifiers>
          <isin value="IE0001827041"/>
          <other otherDesc="Internal" value="G25508105"/>
        </identifiers>
        <balance>17067.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1856718.93000000</valUSD>
        <pctVal>0.060678679626</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cushman &amp; Wakefield Ltd.</name>
        <lei>N/A</lei>
        <title>CUSHMAN WAKEFIELD LTD</title>
        <cusip>G2717C106</cusip>
        <identifiers>
          <isin value="BMG2717C1064"/>
          <other otherDesc="Internal" value="G2717C106"/>
        </identifiers>
        <balance>16320.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>203020.80000000</valUSD>
        <pctVal>0.006634840568</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>DOLE PUBLIC LIMITED COMPANY</name>
        <lei>635400JUG5XJXOPPJJ47</lei>
        <title>DOLE PLC</title>
        <cusip>G27907107</cusip>
        <identifiers>
          <isin value="IE0003LFZ4U7"/>
          <other otherDesc="Internal" value="G27907107"/>
        </identifiers>
        <balance>14562.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>203722.38000000</valUSD>
        <pctVal>0.006657768620</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Essent Group Ltd.</name>
        <lei>254900QUO860OUT6ZF83</lei>
        <title>ESSENT GROUP LTD</title>
        <cusip>G3198U102</cusip>
        <identifiers>
          <isin value="BMG3198U1027"/>
          <other otherDesc="Internal" value="G3198U102"/>
        </identifiers>
        <balance>3547.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>205335.83000000</valUSD>
        <pctVal>0.006710497126</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>APTIV PLC</name>
        <lei>N/A</lei>
        <title>APTIV HOLDINGS LTD</title>
        <cusip>G3265R107</cusip>
        <identifiers>
          <isin value="JE00BTDN8H13"/>
          <other otherDesc="Internal" value="G3265R107"/>
        </identifiers>
        <balance>21930.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1489924.20000000</valUSD>
        <pctVal>0.048691609558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HAMILTON INSURANCE GROUP, LTD.</name>
        <lei>549300W92BN1FIEXG871</lei>
        <title>HAMILTON INSURANCE GROUP LTD</title>
        <cusip>G42706104</cusip>
        <identifiers>
          <isin value="BMG427061046"/>
          <other otherDesc="Internal" value="G42706104"/>
        </identifiers>
        <balance>8159.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>241587.99000000</valUSD>
        <pctVal>0.007895239290</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>MEDTRONIC PUBLIC LIMITED COMPANY</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>MEDTRONIC PLC</title>
        <cusip>G5960L103</cusip>
        <identifiers>
          <isin value="IE00BTN1Y115"/>
          <other otherDesc="Internal" value="G5960L103"/>
        </identifiers>
        <balance>7658.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>565236.98000000</valUSD>
        <pctVal>0.018472280897</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nu Holdings Ltd.</name>
        <lei>5493002DG1RHWK9W2X27</lei>
        <title>NU HOLDINGS LTD CAYMAN ISLANDS</title>
        <cusip>G6683N103</cusip>
        <identifiers>
          <isin value="KYG6683N1034"/>
          <other otherDesc="Internal" value="G6683N103"/>
        </identifiers>
        <balance>72911.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>957321.43000000</valUSD>
        <pctVal>0.031285834065</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pangaea Logistics Solutions Ltd</name>
        <lei>N/A</lei>
        <title>PANGAEA LOGISTICS SOLUTIONS LTD</title>
        <cusip>G6891L105</cusip>
        <identifiers>
          <isin value="BMG6891L1054"/>
          <other otherDesc="Internal" value="G6891L105"/>
        </identifiers>
        <balance>25495.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>192997.15000000</valUSD>
        <pctVal>0.006307261720</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>ROYALTY PHARMA PLC</name>
        <lei>549300FGFN7VOK8BZR03</lei>
        <title>ROYALTY PHARMA PLC</title>
        <cusip>G7709Q104</cusip>
        <identifiers>
          <isin value="GB00BMVP7Y09"/>
          <other otherDesc="Internal" value="G7709Q104"/>
        </identifiers>
        <balance>76107.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4243726.32000000</valUSD>
        <pctVal>0.138687501717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Signet Jewelers Limited</name>
        <lei>549300N3XPGE91WV7M22</lei>
        <title>SIGNET JEWELERS LTD</title>
        <cusip>G81276100</cusip>
        <identifiers>
          <isin value="BMG812761002"/>
          <other otherDesc="Internal" value="G81276100"/>
        </identifiers>
        <balance>5383.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>470420.37000000</valUSD>
        <pctVal>0.015373617654</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>TECHNIPFMC PLC</name>
        <lei>549300D5I93QWCJTCK36</lei>
        <title>TECHNIPFMC PLC</title>
        <cusip>G87110105</cusip>
        <identifiers>
          <isin value="GB00BDSFG982"/>
          <other otherDesc="Internal" value="G87110105"/>
        </identifiers>
        <balance>23350.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1597607.00000000</valUSD>
        <pctVal>0.052210747547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Teekay Tankers Ltd.</name>
        <lei>549300DE8ZAIYS2T6Q22</lei>
        <title>TEEKAY TANKERS LTD</title>
        <cusip>G8726X106</cusip>
        <identifiers>
          <isin value="BMG8726X1065"/>
          <other otherDesc="Internal" value="G8726X106"/>
        </identifiers>
        <balance>4884.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>343589.40000000</valUSD>
        <pctVal>0.011228706073</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>VERSIGENT PLC</name>
        <lei>254900V7AVDC2J9DHM24</lei>
        <title>VERSIGENT LTD</title>
        <cusip>G9600F104</cusip>
        <identifiers>
          <isin value="JE00BWK75100"/>
          <other otherDesc="Internal" value="G9600F104"/>
        </identifiers>
        <balance>7805.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>344356.60000000</valUSD>
        <pctVal>0.011253778625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND</name>
        <lei>N/A</lei>
        <title>GLDMN SCHS FIN SQ GV-FST</title>
        <cusip>38141W273</cusip>
        <identifiers>
          <isin value="US38141W2733"/>
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        <balance>26391030.79000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26391030.78999999</valUSD>
        <pctVal>0.862474592378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="26391030.78999999" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC US GOVERNMENT MONEY MARKET FUND</name>
        <lei>N/A</lei>
        <title>HSBC US GOVT MMKT-I</title>
        <cusip>40428X107</cusip>
        <identifiers>
          <isin value="US40428X1072"/>
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        <balance>26391030.79000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26391030.78999999</valUSD>
        <pctVal>0.862474592378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="26391030.78999999" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INVESCO GOVERNMENT &amp; AGENCY PORTFOLIO</name>
        <lei>N/A</lei>
        <title>INVESCO GVT &amp; AGNCY-INST</title>
        <cusip>825252885</cusip>
        <identifiers>
          <isin value="US8252528851"/>
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        <balance>26391030.79000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26391030.78999999</valUSD>
        <pctVal>0.862474592378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="26391030.78999999" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MILLICOM INTERNATIONAL CELLULAR S.A.</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>MILLICOM INTERNATIONAL CELLULAR SA</title>
        <cusip>L6388F110</cusip>
        <identifiers>
          <isin value="LU0038705702"/>
          <other otherDesc="Internal" value="L6388F110"/>
        </identifiers>
        <balance>49346.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4212174.56000000</valUSD>
        <pctVal>0.137656371423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MSILF Government Portfolio</name>
        <lei>N/A</lei>
        <title>MSILF GOVERNMENT-INST</title>
        <cusip>61747C707</cusip>
        <identifiers>
          <isin value="US61747C7074"/>
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        <balance>26391030.79000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26391030.78999999</valUSD>
        <pctVal>0.862474592378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="26391030.78999999" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LyondellBasell Industries N.V.</name>
        <lei>BN6WCCZ8OVP3ITUUVN49</lei>
        <title>LYONDELLBASELL INDUSTRIES NV</title>
        <cusip>N53745100</cusip>
        <identifiers>
          <isin value="NL0009434992"/>
          <other otherDesc="Internal" value="N53745100"/>
        </identifiers>
        <balance>6059.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>403832.35000000</valUSD>
        <pctVal>0.013197481531</pctVal>
        <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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COSTAMARE INC.</name>
        <lei>5299003L6NPTZ25LN818</lei>
        <title>COSTAMARE INC</title>
        <cusip>Y1771G102</cusip>
        <identifiers>
          <isin value="MHY1771G1026"/>
          <other otherDesc="Internal" value="Y1771G102"/>
        </identifiers>
        <balance>10624.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>163397.12000000</valUSD>
        <pctVal>0.005339915124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FLEX LTD.</name>
        <lei>549300EAQH74YHD07T53</lei>
        <title>FLEX LTD</title>
        <cusip>Y2573F102</cusip>
        <identifiers>
          <isin value="SG9999000020"/>
          <other otherDesc="Internal" value="Y2573F102"/>
        </identifiers>
        <balance>33235.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5011173.30000000</valUSD>
        <pctVal>0.163768125756</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>
      <invstOrSec>
        <name>SAFE BULKERS, INC.</name>
        <lei>549300V6ZM2HJJYQQO85</lei>
        <title>SAFE BULKERS INC</title>
        <cusip>Y7388L103</cusip>
        <identifiers>
          <isin value="MHY7388L1039"/>
          <other otherDesc="Internal" value="Y7388L103"/>
        </identifiers>
        <balance>35370.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>221062.50000000</valUSD>
        <pctVal>0.007224454061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCORPIO TANKERS INC.</name>
        <lei>549300NVJUH16NXG8K87</lei>
        <title>SCORPIO TANKERS INC</title>
        <cusip>Y7542C130</cusip>
        <identifiers>
          <isin value="MHY7542C1306"/>
          <other otherDesc="Internal" value="Y7542C130"/>
        </identifiers>
        <balance>4029.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>300200.79000000</valUSD>
        <pctVal>0.009810740476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios III</ncom:nameOfApplicant>
      <ncom:signature>Carol D. Trevino</ncom:signature>
      <ncom:signerName>Carol D. Trevino</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
