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      <regPhone>800-235-8396</regPhone>
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      <repPdEnd>2025-02-28</repPdEnd>
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        <name>GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND</name>
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        <name>Xerox Holdings Corp</name>
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        <name>DIAMONDROCK HOSPITALITY COMPANY</name>
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        <name>Spdr S&amp;P Emerging Markets Small Cap Etf</name>
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        <name>iShares MSCI Intl Quality Factor ETF</name>
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        <name>PERDOCEO EDUCATION CORPORATION</name>
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        <name>iShares JPMorgan USD Emerging Markets Bond ETF</name>
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        <name>ELEVANCE HEALTH, INC.</name>
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        <name>AMERIPRISE FINANCIAL, INC.</name>
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        <name>CONSOLIDATED EDISON, INC.</name>
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        <name>ENHABIT, INC.</name>
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        <name>CNO FINANCIAL GROUP, INC.</name>
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        <name>COMMVAULT SYSTEMS, INC.</name>
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        <name>JELD-WEN HOLDING, INC.</name>
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        <name>TENET HEALTHCARE CORPORATION</name>
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        <name>THE CIGNA GROUP</name>
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        <name>Vanguard Mortgage-Backed Secs Idx Fund</name>
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        <name>VISHAY INTERTECHNOLOGY, INC.</name>
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        <name>iShares 0-5 Year TIPS Bond ETF</name>
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        <name>MURPHY OIL CORPORATION</name>
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        <name>QORVO, INC.</name>
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        <name>Altria Group, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>MOVADO GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BUILDERS FIRSTSOURCE, INC.</name>
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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>

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        <name>THE KROGER CO.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Invesco FTSE RAFI Developed Mkts ex-US ETF</name>
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        <name>ARDMORE SHIPPING CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CINTAS CORPORATION</name>
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        <name>MASTERBRAND, INC.</name>
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        <name>INTERNATIONAL BANCSHARES CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ALLISON TRANSMISSION HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>TEGNA INC.</name>
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        <title>TEGNA INC COM</title>
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        <fairValLevel>1</fairValLevel>
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        <name>ACADIA PHARMACEUTICALS INC.</name>
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        <name>CORCEPT THERAPEUTICS INCORPORATED</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CORE &amp; MAIN, INC.</name>
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        <name>TRANE TECHNOLOGIES PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>FTSE 100 INDEX FUTURE DEC24</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>ICE FUTURES EUROPE - FINANCIAL PRODUCTS DIVISION</counterpartyName>
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        <name>Caleres Inc.</name>
        <lei>JFU6RQQJ8Z1CPOLBXQ18</lei>
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        <name>Teekay Tankers Ltd.</name>
        <lei>549300DE8ZAIYS2T6Q22</lei>
        <title>TEEKAY TANKERS LTD</title>
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        <name>POTLATCHDELTIC CORPORATION</name>
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        <name>BOOKING HOLDINGS INC.</name>
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        <name>Pathward Financial, Inc.</name>
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        <title>PATHWARD FINANCIAL INC</title>
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        <name>PHINIA INC.</name>
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        <title>PHINIA INC</title>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>ASX SPI 200 INDEX FUTURE DEC24</name>
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        <title>ASX SPI 200 INDEX FUTURE DEC24</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>KLA CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>JOHNSON &amp; JOHNSON</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>QUALCOMM INCORPORATED</name>
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        <name>KB HOME</name>
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        <name>COREBRIDGE FINANCIAL, INC.</name>
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        <name>BREAD FINANCIAL HOLDINGS, INC.</name>
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        <name>METALLUS INC.</name>
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        <name>CUMMINS INC.</name>
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        <name>EXTREME NETWORKS, INC.</name>
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        <name>AMERICAN EXPRESS COMPANY</name>
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        <name>iShares Core S&amp;P Small-Cap ETF</name>
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        <name>iShares Trust - iShares 20+ Year Treasury Bond ETF</name>
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        <name>ADAPTHEALTH CORP.</name>
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        <name>APPLIED MATERIALS, INC.</name>
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        <name>WisdomTree Emerging Markets SmallCap Dividend Fund</name>
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        <name>FAIR ISAAC CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Matson 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>Schwab Fundamental Intl Equity ETF</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WINNEBAGO INDUSTRIES, INC.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LyondellBasell Industries N.V.</name>
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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>OTIS WORLDWIDE CORPORATION</name>
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        <title>OTIS WORLDWIDE CORP</title>
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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>COMCAST CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HOPE BANCORP, INC.</name>
        <lei>549300UTF4QGMBHIZ219</lei>
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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>EXPEDIA GROUP, INC.</name>
        <lei>N/A</lei>
        <title>EXPEDIA GROUP INC</title>
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        <balance>22674.00000000</balance>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PACCAR INC</name>
        <lei>KDTEY8BWE486IKZ3CC07</lei>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EURO STOXX 50 FUTURE DEC24</name>
        <lei>N/A</lei>
        <title>EURO STOXX 50 FUTURE DEC24</title>
        <cusip>N/A</cusip>
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          <isin value="N/A"/>
          <ticker value="FESXZ24"/>
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        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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      <invstOrSec>
        <name>UNIVERSAL HEALTH SERVICES, INC.</name>
        <lei>549300YGMGQDO0NMJD09</lei>
        <title>UNIVERSAL HEALTH SERVICES</title>
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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>LENNOX INTERNATIONAL INC.</name>
        <lei>S7DWAC87RDMPBF77GJ92</lei>
        <title>LENNOX INTERNATIONAL 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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        <name>INVESCO GOVERNMENT &amp; AGENCY PORTFOLIO</name>
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        <title>INVESCO GVT &amp; AGNCY-INST</title>
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        <assetCat>STIV</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MERCK &amp; CO., INC.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK CO INC</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>COMMUNITY TRUST BANCORP, INC.</name>
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      <invstOrSec>
        <name>T. ROWE PRICE GROUP, INC.</name>
        <lei>549300SIV6FPS9Y7IH33</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Signet Jewelers Limited</name>
        <lei>549300N3XPGE91WV7M22</lei>
        <title>SIGNET JEWELERS LTD</title>
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        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>Veracyte Inc</name>
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        <title>VERACYTE INC</title>
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        <invCountry>US</invCountry>

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        <name>INNOVATIVE INDUSTRIAL PROPERTIES, INC.</name>
        <lei>5493008BQ0545EZXRR30</lei>
        <title>INNOVATIVE INDUSTRIAL PROPERTIES INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>THE ANDERSONS, INC</name>
        <lei>L38MWB8MVRFV7HVJPU11</lei>
        <title>THE ANDERSONS INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <isCashCollateral>N</isCashCollateral>
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        <name>MURPHY USA INC.</name>
        <lei>549300Y081F8XIKQIO72</lei>
        <title>MURPHY USA INC</title>
        <cusip>626755102</cusip>
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        <balance>4434.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CF INDUSTRIES HOLDINGS, INC.</name>
        <lei>529900CG8YAQFZ2JMV97</lei>
        <title>CF INDUSTRIES HOLDINGS INC</title>
        <cusip>125269100</cusip>
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        <balance>13950.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1250757.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CONSOL ENERGY INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Collegium Pharmaceutical, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ARGAN, 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>The Bank of N.T. Butterfield &amp; Son Limited</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SCORPIO TANKERS INC.</name>
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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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        <name>BEL FUSE INC.</name>
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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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        <name>HEWLETT PACKARD ENTERPRISE COMPANY</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ADDUS HOMECARE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>W. R. BERKLEY CORPORATION</name>
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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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        <name>ESSENT GROUP LTD</name>
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        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ASGN INCORPORATED</name>
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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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        <name>SANMINA CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ALPHABET INC.</name>
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        <title>ALPHABET INC CLASS C</title>
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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>ACADIA REALTY TRUST</name>
        <lei>254900C5XLB1YYJQSH07</lei>
        <title>ACADIA REALTY TRUST</title>
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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>DICK'S SPORTING GOODS, INC.</name>
        <lei>529900SSBV5I4LWSK313</lei>
        <title>DICK S SPORTING GOODS INC</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>BERRY CORPORATION (BRY)</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>CORVEL CORPORATION</name>
        <lei>N/A</lei>
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        <name>CHORD ENERGY CORPORATION</name>
        <lei>529900FA4V2YNIKZ0M71</lei>
        <title>CHORD ENERGY CORP</title>
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        <name>HCA HEALTHCARE, INC.</name>
        <lei>529900PH4ZGUH2MNEU89</lei>
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        <name>THE ALLSTATE CORPORATION</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>ALLSTATE CORP THE</title>
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        <name>APPLE INC.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC</title>
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        <name>DEVON ENERGY CORPORATION</name>
        <lei>54930042348RKR3ZPN35</lei>
        <title>DEVON ENERGY CORP</title>
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        <assetCat>EC</assetCat>
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        <name>iShares 7-10 Year Treasury Bond ETF</name>
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        <title>ISHARES 7 10 YEAR TREASURY BOND ETF</title>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>HUB GROUP, INC.</name>
        <lei>N/A</lei>
        <title>HUB GROUP INC CL A</title>
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      </invstOrSec>
      <invstOrSec>
        <name>CAL-MAINE FOODS, INC.</name>
        <lei>549300NHE5WMIEIEMF53</lei>
        <title>CAL MAINE FOODS INC</title>
        <cusip>128030202</cusip>
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          <isin value="US1280302027"/>
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        <balance>3437.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>335485.57000000</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>TRI POINTE HOMES, INC.</name>
        <lei>N/A</lei>
        <title>TRI POINTE HOMES INC</title>
        <cusip>87265H109</cusip>
        <identifiers>
          <isin value="US87265H1095"/>
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        <balance>9298.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>404741.94000000</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>PROG Holdings, Inc</name>
        <lei>549300DHYTLBOVRXIG52</lei>
        <title>PROG HOLDINGS INC</title>
        <cusip>74319R101</cusip>
        <identifiers>
          <isin value="US74319R1014"/>
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        <balance>6281.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>305633.46000000</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>RALPH LAUREN CORPORATION</name>
        <lei>HO1QNWM0IXBZ0QSMMO20</lei>
        <title>RALPH LAUREN CORP</title>
        <cusip>751212101</cusip>
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          <isin value="US7512121010"/>
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        <balance>18232.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4218884.80000000</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>TARGET CORPORATION</name>
        <lei>8WDDFXB5T1Z6J0XC1L66</lei>
        <title>TARGET CORP</title>
        <cusip>87612E106</cusip>
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          <isin value="US87612E1064"/>
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        <balance>36242.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4795179.02000000</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>ZIFF DAVIS, INC.</name>
        <lei>5493008OJYGLHD7MXA18</lei>
        <title>ZIFF DAVIS INC</title>
        <cusip>48123V102</cusip>
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          <isin value="US48123V1026"/>
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        <balance>8097.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>476508.45000000</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>Live Oak Bancshares, Inc.</name>
        <lei>N/A</lei>
        <title>LIVE OAK BANCSHARES INC</title>
        <cusip>53803X105</cusip>
        <identifiers>
          <isin value="US53803X1054"/>
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        <balance>7831.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>371189.40000000</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>WALMART INC.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>WALMART INC</title>
        <cusip>931142103</cusip>
        <identifiers>
          <isin value="US9311421039"/>
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        <balance>89907.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8316397.50000000</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>BROADSTONE NET LEASE, INC.</name>
        <lei>549300U8D7PT70B49V21</lei>
        <title>BROADSTONE NET LEASE INC</title>
        <cusip>11135E203</cusip>
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          <isin value="US11135E2037"/>
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        <balance>18745.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>328224.95000000</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>PENNYMAC FINANCIAL SERVICES, INC.</name>
        <lei>549300W1D516HBDEU871</lei>
        <title>PENNYMAC FINANCIAL SERVICES</title>
        <cusip>70932M107</cusip>
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          <isin value="US70932M1071"/>
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        <balance>3342.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>358028.46000000</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>SELECT MEDICAL HOLDINGS CORPORATION</name>
        <lei>N/A</lei>
        <title>SELECT MEDICAL HOLDINGS CORP</title>
        <cusip>81619Q105</cusip>
        <identifiers>
          <isin value="US81619Q1058"/>
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        <balance>5946.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>125520.06000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CENTENE CORPORATION</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>CENTENE CORP</title>
        <cusip>15135B101</cusip>
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          <isin value="US15135B1017"/>
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        <balance>61183.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3670980.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RESIDEO TECHNOLOGIES, INC.</name>
        <lei>5493006TKFPYISY2DS54</lei>
        <title>RESIDEO TECHNOLOGIES INC</title>
        <cusip>76118Y104</cusip>
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          <isin value="US76118Y1047"/>
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        <balance>13912.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>378128.16000000</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>ALPHA METALLURGICAL RESOURCES, INC.</name>
        <lei>N/A</lei>
        <title>ALPHA METALLURGICAL RESOURCES</title>
        <cusip>020764106</cusip>
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          <isin value="US0207641061"/>
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        <balance>1513.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>371547.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GENERAL MOTORS COMPANY</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GENERAL MOTORS CO</title>
        <cusip>37045V100</cusip>
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          <isin value="US37045V1008"/>
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        <balance>160001.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COMMERCIAL METALS COMPANY</name>
        <lei>549300OQS2LO07ZJ7N73</lei>
        <title>COMMERCIAL METALS COMPANY</title>
        <cusip>201723103</cusip>
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          <isin value="US2017231034"/>
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        <balance>2710.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DELUXE CORPORATION</name>
        <lei>KWGNKB8TX9LE5TV29231</lei>
        <title>DELUXE CORP</title>
        <cusip>248019101</cusip>
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        <balance>16088.00000000</balance>
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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>MOTOROLA SOLUTIONS, INC.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>MOTOROLA SOLUTIONS INC</title>
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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>1ST SOURCE CORPORATION</name>
        <lei>N/A</lei>
        <title>FIRST SOURCE</title>
        <cusip>336901103</cusip>
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        <balance>6326.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>EAST WEST BANCORP, INC.</name>
        <lei>N/A</lei>
        <title>EAST WEST BANCORP INC</title>
        <cusip>27579R104</cusip>
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        <balance>26841.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2943920.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CARDINAL HEALTH, INC.</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>CARDINAL HEALTH INC</title>
        <cusip>14149Y108</cusip>
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        <balance>63558.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VALERO ENERGY CORPORATION</name>
        <lei>549300XTO5VR8SKV1V74</lei>
        <title>VALERO ENERGY CORP</title>
        <cusip>91913Y100</cusip>
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        <balance>4555.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iShares Core MSCI EAFE ETF</name>
        <lei>N/A</lei>
        <title>ISHARES CORE MSCI EAFE ETF</title>
        <cusip>46432F842</cusip>
        <identifiers>
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        <balance>32626.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>RF</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>SolarWinds Corp</name>
        <lei>N/A</lei>
        <title>SOLARWINDS CORP</title>
        <cusip>83417Q204</cusip>
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          <isin value="US83417Q2049"/>
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        <balance>19710.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>263128.50000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>MASCO CORPORATION</name>
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      <invstOrSec>
        <name>NVR, Inc.</name>
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      <invstOrSec>
        <name>EMCOR GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vanguard FTSE All World ex US Index Fund Investor Shares</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>THE HARTFORD FINANCIAL SERVICES GROUP, INC.</name>
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        <name>CONCENTRA GROUP HOLDINGS PARENT, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Ingles Markets, Incorporated</name>
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        <name>YELP INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>VERITEX HOLDINGS, INC.</name>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>UNIVERSAL INSURANCE HOLDINGS, INC.</name>
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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>Philip Morris International Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTERNATIONAL 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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        <name>RYERSON HOLDING CORPORATION</name>
        <lei>549300JMA41B3ZHOVE45</lei>
        <title>RYERSON HOLDING CORP</title>
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        <balance>7818.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>DAVITA INC.</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DAVITA 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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        <name>AUTONATION, INC.</name>
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        <title>AUTONATION INC</title>
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        <name>KITE REALTY GROUP TRUST</name>
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        <title>KITE REALTY GROUP TRUST</title>
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        <assetCat>EC</assetCat>
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        <name>VictoryShares Core Plus Int Bd ETF</name>
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        <name>INTERACTIVE BROKERS GROUP, INC.</name>
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        <name>AMKOR TECHNOLOGY, INC.</name>
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        <name>ABBVIE INC.</name>
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        <title>ABBVIE INC</title>
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        <name>GREIF, INC.</name>
        <lei>54930070FVGKR0Z1FI24</lei>
        <title>GREIF INC CL A</title>
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        <name>CATERPILLAR INC.</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>CATERPILLAR INC</title>
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        <assetCat>EC</assetCat>
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        <name>EASTERLY GOVERNMENT PROPERTIES, INC.</name>
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        <title>EASTERLY GOVERNMENT PROPERTIES INC</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

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        <name>TAYLOR MORRISON HOME CORPORATION</name>
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        <title>TAYLOR MORRISON HOME 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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        <name>UNITED RENTALS, INC.</name>
        <lei>5323X5O7RN0NKFCDRY08</lei>
        <title>UNITED RENTALS INC</title>
        <cusip>911363109</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>EMPIRE STATE REALTY TRUST, INC.</name>
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        <name>SWISS MARKET INDEX FUTURE DEC24</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CLEAR SECURE, INC.</name>
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        <name>GENCO SHIPPING &amp; TRADING LIMITED</name>
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        <name>iShares MSCI Intl Momentum Factor ETF</name>
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        <name>PHILLIPS 66</name>
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        <name>OVINTIV INC.</name>
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        <name>Xtrackers USD High Yld Corporate Bd ETF</name>
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        <name>REGIONS FINANCIAL CORPORATION</name>
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        <name>JOHN WILEY &amp; SONS, INC.</name>
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        <name>Vanguard Total Bond Market Index Fund</name>
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        <name>GODADDY INC.</name>
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        <name>SPDR Gold Shares</name>
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        <name>FERGUSON ENTERPRISES INC.</name>
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        <name>LEIDOS HOLDINGS, INC.</name>
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        <name>ARISTA NETWORKS, INC.</name>
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        <name>SIGA TECHNOLOGIES, INC.</name>
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        <name>SYNCHRONY FINANCIAL</name>
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        <name>MOELIS &amp; COMPANY</name>
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        <name>Spire Inc.</name>
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        <name>SPARTANNASH COMPANY</name>
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        <name>JOHN B. SANFILIPPO &amp; SON, INC.</name>
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        <name>RELIANCE, INC.</name>
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        <name>O'Reilly Automotive, Inc.</name>
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        <name>RUSSELL 2000 MINI INDEX FUTURE DEC24</name>
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        <name>THE PROCTER &amp; GAMBLE COMPANY</name>
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        <name>VictoryShares WestEnd Economic Cycle Bond ETF</name>
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        <name>KULICKE AND SOFFA INDUSTRIES, INC.</name>
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        <name>COLGATE-PALMOLIVE COMPANY</name>
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        <name>ASBURY AUTOMOTIVE GROUP, INC.</name>
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        <name>BUILD-A-BEAR WORKSHOP, INC.</name>
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        <name>MOLINA HEALTHCARE, INC.</name>
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        <name>SABRA HEALTH CARE REIT, INC.</name>
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        <name>SELECTIVE INSURANCE GROUP, INC.</name>
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        <name>iShares Core MSCI Emerging Markets ETF</name>
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        <name>MICROSOFT CORPORATION</name>
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        <name>Sun Country Airlines Holdings Inc</name>
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        <name>PRESTIGE CONSUMER HEALTHCARE INC.</name>
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        <name>VictoryShares Core Intermediate Bond ETF</name>
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        <name>TERRENO REALTY CORPORATION</name>
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        <name>NVIDIA CORPORATION</name>
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      <invstOrSec>
        <name>VICI PROPERTIES INC.</name>
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      <invstOrSec>
        <name>Schwab Fundamental Intl Small Equity ETF</name>
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        <name>STERLING INFRASTRUCTURE, INC.</name>
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        <name>REGENERON PHARMACEUTICALS, INC.</name>
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        <name>TD SYNNEX CORPORATION</name>
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        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
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        <name>iShares Inc - iShares MSCI Canada ETF</name>
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        <name>NUCOR CORPORATION</name>
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        <name>ONE GAS, INC.</name>
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        <name>DTE ENERGY COMPANY</name>
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        <name>COCA-COLA CONSOLIDATED, INC.</name>
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        <name>JPMORGAN CHASE &amp; CO.</name>
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      <invstOrSec>
        <name>Vanguard Short-Term Corporate Bond Idx Fd</name>
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        <title>VANGUARD SHORT TERM CORPORATE BOND ETF</title>
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        <name>PEABODY ENERGY CORPORATION</name>
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        <name>ELI LILLY AND COMPANY</name>
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        <name>RYMAN HOSPITALITY PROPERTIES, INC.</name>
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        <name>HANCOCK WHITNEY CORPORATION</name>
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        <name>LADDER CAPITAL CORP</name>
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        <name>JACKSON FINANCIAL INC.</name>
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        <name>Hawkins, Inc.</name>
        <lei>549300VL3IJ23OWX1Y34</lei>
        <title>HAWKINS INC</title>
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        <name>LIBERTY ENERGY INC.</name>
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        <name>TEXTRON INC.</name>
        <lei>3PPKBHUG1HD6BO7RNR87</lei>
        <title>TEXTRON INC</title>
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        <name>iShares Core US Aggregate Bond ETF</name>
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        <name>DECKERS OUTDOOR CORPORATION</name>
        <lei>5493008LG4W3I6K8J118</lei>
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          <isin value="US2435371073"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NISOURCE INC.</name>
        <lei>549300D8GOWWH0SJB189</lei>
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          <isin value="US65473P1057"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OPTION CARE HEALTH, INC.</name>
        <lei>549300DI3Q5ACSYJRI17</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>META PLATFORMS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>NRG ENERGY, INC.</name>
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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>CARLISLE COMPANIES INCORPORATED</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vanguard Tax Managed Fund FTSE Developed Markets ETF</name>
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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>THE PROGRESSIVE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HANG SENG INDEX FUTURE DEC24</name>
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        <cusip>N/A</cusip>
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        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>HONG KONG FUTURES EXCHANGE LTD.</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>HANG SENG IDX FUT Dec 2024</indexName>
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      <invstOrSec>
        <name>BLUELINX HOLDINGS INC.</name>
        <lei>549300YSX7GU28F5I540</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>VISA INC.</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
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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>VERIZON COMMUNICATIONS INC.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
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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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      <invstOrSec>
        <name>COMFORT SYSTEMS USA, INC.</name>
        <lei>5299009DT1ZA5HTU6R38</lei>
        <title>COMFORT SYSTEMS USA 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>Owens &amp; Minor, Inc.</name>
        <lei>549300LMT5KQQXCEZ733</lei>
        <title>OWENS MINOR INC HOLDING CO</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>The Bank of New York Mellon Corporation</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>APOLLO COMMERCIAL REAL ESTATE FINANCE, INC.</name>
        <lei>549300E0AN7M2AQHSY29</lei>
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        <cusip>03762U105</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CATALYST PHARMACEUTICALS, INC.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HSBC US GOVERNMENT MONEY MARKET FUND</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="24418104.60000000" isCashCollateral="Y"/>
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    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-12-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios III</ncom:nameOfApplicant>
      <ncom:signature>Carol Trevino</ncom:signature>
      <ncom:signerName>Carol Trevino</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
