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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>439916.88</valUSD>
        <pctVal>0.0713551237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="438275.240000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PROTO LABS INC</name>
        <lei>529900QHG5MGWT2WQQ09</lei>
        <title>PROTO LABS INC</title>
        <cusip>743713109</cusip>
        <identifiers>
          <isin value="US7437131094"/>
          <ticker value="PRLB"/>
        </identifiers>
        <balance>14072</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>802385.44</valUSD>
        <pctVal>0.1301480232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUPERNUS PHARMS. INC</name>
        <lei>549300GRM36VBKISYJ58</lei>
        <title>SUPERNUS PHARMS. INC</title>
        <cusip>868459108</cusip>
        <identifiers>
          <isin value="US8684591089"/>
          <ticker value="SUPN"/>
        </identifiers>
        <balance>45025</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2327342.25</valUSD>
        <pctVal>0.3774981176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FARMERS NATL. BANC CORP</name>
        <lei>N/A</lei>
        <title>FARMERS NATL. BANC CORP</title>
        <cusip>309627107</cusip>
        <identifiers>
          <isin value="US3096271073"/>
          <ticker value="FMNB"/>
        </identifiers>
        <balance>42804</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>563300.64</valUSD>
        <pctVal>0.0913681394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>1ST SOURCE CORP</name>
        <lei>N/A</lei>
        <title>1ST SOURCE CORP</title>
        <cusip>336901103</cusip>
        <identifiers>
          <isin value="US3369011032"/>
          <ticker value="SRCE"/>
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        <balance>9378</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>649051.38</valUSD>
        <pctVal>0.1052770275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KORN FERRY</name>
        <lei>549300FOD20OM0GT5G40</lei>
        <title>KORN FERRY</title>
        <cusip>500643200</cusip>
        <identifiers>
          <isin value="US5006432000"/>
          <ticker value="KFY"/>
        </identifiers>
        <balance>41794</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2630932.3</valUSD>
        <pctVal>0.4267408417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REX AMERICAN RES. CORP</name>
        <lei>N/A</lei>
        <title>REX AMERICAN RES. CORP</title>
        <cusip>761624105</cusip>
        <identifiers>
          <isin value="US7616241052"/>
          <ticker value="REX"/>
        </identifiers>
        <balance>37333</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1701264.81</valUSD>
        <pctVal>0.2759474947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRST MERCHANTS CORP</name>
        <lei>TZTBT0OTGQ2FEK6XMX94</lei>
        <title>FIRST MERCHANTS CORP</title>
        <cusip>320817109</cusip>
        <identifiers>
          <isin value="US3208171096"/>
          <ticker value="FRME"/>
        </identifiers>
        <balance>29975</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1160931.75</valUSD>
        <pctVal>0.1883047284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CATHAY GEN. BANCORP</name>
        <lei>549300K1SLJ8C97H5L68</lei>
        <title>CATHAY GEN. BANCORP</title>
        <cusip>149150104</cusip>
        <identifiers>
          <isin value="US1491501045"/>
          <ticker value="CATY"/>
        </identifiers>
        <balance>89522</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4463566.92</valUSD>
        <pctVal>0.7239967005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BENCHMARK ELECTNCS. INC</name>
        <lei>549300W18RHYZOZKOP53</lei>
        <title>BENCHMARK ELECTNCS. INC</title>
        <cusip>08160H101</cusip>
        <identifiers>
          <isin value="US08160H1014"/>
          <ticker value="BHE"/>
        </identifiers>
        <balance>4834</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>270994.04</valUSD>
        <pctVal>0.0439556064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GROUP 1 AUTOMOTIVE INC</name>
        <lei>549300US8QAZJLWYAF63</lei>
        <title>GROUP 1 AUTOMOTIVE INC</title>
        <cusip>398905109</cusip>
        <identifiers>
          <isin value="US3989051095"/>
          <ticker value="GPI"/>
        </identifiers>
        <balance>1405</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>464535.15</valUSD>
        <pctVal>0.0753482410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SONIC AUTOMOTIVE INC</name>
        <lei>549300NTLRGJ2JCBZU03</lei>
        <title>SONIC AUTOMOTIVE INC</title>
        <cusip>83545G102</cusip>
        <identifiers>
          <isin value="US83545G1022"/>
          <ticker value="SAH"/>
        </identifiers>
        <balance>53873</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3694071.61</valUSD>
        <pctVal>0.5991835017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMB FINL. CORP</name>
        <lei>549300MGEH3N3CUCV828</lei>
        <title>UMB FINL. CORP</title>
        <cusip>902788108</cusip>
        <identifiers>
          <isin value="US9027881088"/>
          <ticker value="UMBF"/>
        </identifiers>
        <balance>21907</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2470890.53</valUSD>
        <pctVal>0.4007818462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL HEALTHCARE CORP</name>
        <lei>254900PTS11LS1JS2752</lei>
        <title>NATIONAL HEALTHCARE CORP</title>
        <cusip>635906100</cusip>
        <identifiers>
          <isin value="US6359061008"/>
          <ticker value="NHC"/>
        </identifiers>
        <balance>5606</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>895278.2</valUSD>
        <pctVal>0.1452153568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CVB FINL. CORP</name>
        <lei>N/A</lei>
        <title>CVB FINL. CORP</title>
        <cusip>126600105</cusip>
        <identifiers>
          <isin value="US1266001056"/>
          <ticker value="CVBF"/>
        </identifiers>
        <balance>94945</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1840983.55</valUSD>
        <pctVal>0.2986100667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONMED CORP</name>
        <lei>Z6C0YCECH9DCU5ZIQW84</lei>
        <title>CONMED CORP</title>
        <cusip>207410101</cusip>
        <identifiers>
          <isin value="US2074101013"/>
          <ticker value="CNMD"/>
        </identifiers>
        <balance>14544</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>514275.84</valUSD>
        <pctVal>0.0834162494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GETTY REALTY CORP</name>
        <lei>2549000P1W5SFJWCNP90</lei>
        <title>GETTY REALTY CORP</title>
        <cusip>374297109</cusip>
        <identifiers>
          <isin value="US3742971092"/>
          <ticker value="GTY"/>
        </identifiers>
        <balance>44992</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1430745.6</valUSD>
        <pctVal>0.2320689064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HANCOCK WHITNEY CORP</name>
        <lei>549300GRNBWY8HIICT41</lei>
        <title>HANCOCK WHITNEY CORP</title>
        <cusip>410120109</cusip>
        <identifiers>
          <isin value="US4101201097"/>
          <ticker value="HWC"/>
        </identifiers>
        <balance>63623</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4045786.57</valUSD>
        <pctVal>0.6562321525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENNIS INC</name>
        <lei>N/A</lei>
        <title>ENNIS INC</title>
        <cusip>293389102</cusip>
        <identifiers>
          <isin value="US2933891028"/>
          <ticker value="EBF"/>
        </identifiers>
        <balance>37292</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>798794.64</valUSD>
        <pctVal>0.1295655905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENPRO INC</name>
        <lei>549300Y5CFT2LKCFDN54</lei>
        <title>ENPRO INC</title>
        <cusip>29355X107</cusip>
        <identifiers>
          <isin value="US29355X1072"/>
          <ticker value="NPO"/>
        </identifiers>
        <balance>4720</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1183068</valUSD>
        <pctVal>0.1918952586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN WOODMARK CORP</name>
        <lei>5299007PFSDWMA74RB56</lei>
        <title>AMERICAN WOODMARK CORP</title>
        <cusip>030506109</cusip>
        <identifiers>
          <isin value="US0305061097"/>
          <ticker value="AMWD"/>
        </identifiers>
        <balance>3251</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>129487.33</valUSD>
        <pctVal>0.0210030232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SENECA FOODS CORP</name>
        <lei>N/A</lei>
        <title>SENECA FOODS CORP</title>
        <cusip>817070501</cusip>
        <identifiers>
          <isin value="US8170705011"/>
          <ticker value="SENEA"/>
        </identifiers>
        <balance>5886</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>889492.32</valUSD>
        <pctVal>0.1442768791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SKYWEST INC</name>
        <lei>529900UYS2KGS6Z42P09</lei>
        <title>SKYWEST INC</title>
        <cusip>830879102</cusip>
        <identifiers>
          <isin value="US8308791024"/>
          <ticker value="SKYW"/>
        </identifiers>
        <balance>14645</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1344850.35</valUSD>
        <pctVal>0.2181365785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOUTHWEST GAS HLDGS. INC</name>
        <lei>254900LKF9EV0CUKNE09</lei>
        <title>SOUTHWEST GAS HLDGS. INC</title>
        <cusip>844895102</cusip>
        <identifiers>
          <isin value="US8448951025"/>
          <ticker value="SWX"/>
        </identifiers>
        <balance>15405</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1338694.5</valUSD>
        <pctVal>0.2171380912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STANDARD MOTOR PRODS. INC</name>
        <lei>THGK1EO5B5HK0JHQVZ90</lei>
        <title>STANDARD MOTOR PRODS. INC</title>
        <cusip>853666105</cusip>
        <identifiers>
          <isin value="US8536661056"/>
          <ticker value="SMP"/>
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        <balance>62538</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2172570.12</valUSD>
        <pctVal>0.3523938650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STANDEX INTL. CORP</name>
        <lei>RCX52GR0JW2LRRMH9Z54</lei>
        <title>STANDEX INTL. CORP</title>
        <cusip>854231107</cusip>
        <identifiers>
          <isin value="US8542311076"/>
          <ticker value="SXI"/>
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        <balance>18113</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4616279.18</valUSD>
        <pctVal>0.7487668393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRAY MEDIA INC</name>
        <lei>529900TM5726KDN7UU35</lei>
        <title>GRAY MEDIA INC</title>
        <cusip>389375106</cusip>
        <identifiers>
          <isin value="US3893751061"/>
          <ticker value="GTN"/>
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        <balance>215323</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>934501.82</valUSD>
        <pctVal>0.1515774820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STEPAN CO</name>
        <lei>IZU1EW9GB3WC7CYCSR17</lei>
        <title>STEPAN CO</title>
        <cusip>858586100</cusip>
        <identifiers>
          <isin value="US8585861003"/>
          <ticker value="SCL"/>
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        <balance>9956</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>497600.88</valUSD>
        <pctVal>0.0807115479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TANGER INC</name>
        <lei>UKEW8YSXE4Y581KYOL30</lei>
        <title>TANGER INC</title>
        <cusip>875465106</cusip>
        <identifiers>
          <isin value="US8754651060"/>
          <ticker value="SKT"/>
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        <balance>36595</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1243498.1</valUSD>
        <pctVal>0.2016971040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TEREX CORP</name>
        <lei>YAWJZJYEQ7M1SYMOS462</lei>
        <title>TEREX CORP</title>
        <cusip>880779103</cusip>
        <identifiers>
          <isin value="US8807791038"/>
          <ticker value="TEX"/>
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        <balance>25691</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1518338.1</valUSD>
        <pctVal>0.2462765305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST FINANCIAL CORP</name>
        <lei>N/A</lei>
        <title>FIRST FINANCIAL CORP</title>
        <cusip>320218100</cusip>
        <identifiers>
          <isin value="US3202181000"/>
          <ticker value="THFF"/>
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        <balance>15977</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1009746.4</valUSD>
        <pctVal>0.1637822564</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WINNEBAGO INDS. INC</name>
        <lei>549300B7OYKYJLTE3G11</lei>
        <title>WINNEBAGO INDS. INC</title>
        <cusip>974637100</cusip>
        <identifiers>
          <isin value="US9746371007"/>
          <ticker value="WGO"/>
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        <balance>15227</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>471884.73</valUSD>
        <pctVal>0.0765403530</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BJ S RESTAURANTS INC</name>
        <lei>5299000EOW66I1OJNQ23</lei>
        <title>BJ S RESTAURANTS INC</title>
        <cusip>09180C106</cusip>
        <identifiers>
          <isin value="US09180C1062"/>
          <ticker value="BJRI"/>
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        <balance>3150</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>110565</valUSD>
        <pctVal>0.0179337952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUNSTONE HOTEL INVSTRS. I</name>
        <lei>529900ZQ2V52V96ATF67</lei>
        <title>SUNSTONE HOTEL INVSTRS. I</title>
        <cusip>867892101</cusip>
        <identifiers>
          <isin value="US8678921011"/>
          <ticker value="SHO"/>
        </identifiers>
        <balance>260061</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2343149.61</valUSD>
        <pctVal>0.3800620931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VISTEON CORP</name>
        <lei>549300MOVLYHRW4GGW78</lei>
        <title>VISTEON CORP</title>
        <cusip>92839U206</cusip>
        <identifiers>
          <isin value="US92839U2069"/>
          <ticker value="VC"/>
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        <balance>5914</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>538824.54</valUSD>
        <pctVal>0.0873980823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST BANCORP/PUERTO RICO</name>
        <lei>N/A</lei>
        <title>FIRST BANCORP/PUERTO RICO</title>
        <cusip>318672706</cusip>
        <identifiers>
          <isin value="PR3186727065"/>
          <ticker value="FBP"/>
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        <balance>306473</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6546263.28</valUSD>
        <pctVal>1.0618129178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DELUXE CORP</name>
        <lei>KWGNKB8TX9LE5TV29231</lei>
        <title>DELUXE CORP</title>
        <cusip>248019101</cusip>
        <identifiers>
          <isin value="US2480191012"/>
          <ticker value="DLX"/>
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        <balance>34435</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>948339.9</valUSD>
        <pctVal>0.1538220376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DIGI INTL. INC</name>
        <lei>529900KG656HGROI4N27</lei>
        <title>DIGI INTL. INC</title>
        <cusip>253798102</cusip>
        <identifiers>
          <isin value="US2537981027"/>
          <ticker value="DGII"/>
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        <balance>62663</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3020356.6</valUSD>
        <pctVal>0.4899059994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLACK HILLS CORP</name>
        <lei>3MGELCRSTNSAMJ962671</lei>
        <title>BLACK HILLS CORP</title>
        <cusip>092113109</cusip>
        <identifiers>
          <isin value="US0921131092"/>
          <ticker value="BKH"/>
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        <balance>57031</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3958521.71</valUSD>
        <pctVal>0.6420776720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HB FULLER CO</name>
        <lei>JSMX3Z5FOYM8V0Q52357</lei>
        <title>HB FULLER CO</title>
        <cusip>359694106</cusip>
        <identifiers>
          <isin value="US3596941068"/>
          <ticker value="FUL"/>
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        <balance>18595</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1146939.6</valUSD>
        <pctVal>0.1860351824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GRANITE CONSTRUCTION INC</name>
        <lei>549300OM4BWMCIXVCZ39</lei>
        <title>GRANITE CONSTRUCTION INC</title>
        <cusip>387328107</cusip>
        <identifiers>
          <isin value="US3873281071"/>
          <ticker value="GVA"/>
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        <balance>2841</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>340579.08</valUSD>
        <pctVal>0.0552423957</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HARLEY-DAVIDSON INC</name>
        <lei>ZDNAWZWXIKMWI51R2A08</lei>
        <title>HARLEY-DAVIDSON INC</title>
        <cusip>412822108</cusip>
        <identifiers>
          <isin value="US4128221086"/>
          <ticker value="HOG"/>
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        <balance>22731</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>459620.82</valUSD>
        <pctVal>0.0745511299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HAWAIIAN ELEC. INDS. INC</name>
        <lei>JJ8FWOCWCV22X7GUPJ23</lei>
        <title>HAWAIIAN ELEC. INDS. INC</title>
        <cusip>419870100</cusip>
        <identifiers>
          <isin value="US4198701009"/>
          <ticker value="HE"/>
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        <balance>48075</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>713433</valUSD>
        <pctVal>0.1157198150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HIGHWOODS PROPS. INC</name>
        <lei>ZIIGTYKL9T0X3HLTDX53</lei>
        <title>HIGHWOODS PROPS. INC</title>
        <cusip>431284108</cusip>
        <identifiers>
          <isin value="US4312841087"/>
          <ticker value="HIW"/>
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        <balance>14324</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>306676.84</valUSD>
        <pctVal>0.0497434057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HUNTINGTON BANCSHARES INC</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>HUNTINGTON BANCSHARES INC</title>
        <cusip>446150104</cusip>
        <identifiers>
          <isin value="US4461501045"/>
          <ticker value="HBAN"/>
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        <balance>334825</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5240011.25</valUSD>
        <pctVal>0.8499370399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ICU MEDICAL INC</name>
        <lei>5493003NRW7LS2QZRH60</lei>
        <title>ICU MEDICAL INC</title>
        <cusip>44930G107</cusip>
        <identifiers>
          <isin value="US44930G1076"/>
          <ticker value="ICUI"/>
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        <balance>11838</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1528877.7</valUSD>
        <pctVal>0.2479860681</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ITRON INC</name>
        <lei>24F6LSZD18II6ICG6S41</lei>
        <title>ITRON INC</title>
        <cusip>465741106</cusip>
        <identifiers>
          <isin value="US4657411066"/>
          <ticker value="ITRI"/>
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        <balance>7837</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>702430.31</valUSD>
        <pctVal>0.1139351635</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RAYONIER INC</name>
        <lei>HGV8VDVNL0W6SF2U9C50</lei>
        <title>RAYONIER INC</title>
        <cusip>754907103</cusip>
        <identifiers>
          <isin value="US7549071030"/>
          <ticker value="RYN"/>
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        <balance>25334</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>522387.08</valUSD>
        <pctVal>0.0847319037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KB HOME</name>
        <lei>549300LGUCWQURMWLG09</lei>
        <title>KB HOME</title>
        <cusip>48666K109</cusip>
        <identifiers>
          <isin value="US48666K1097"/>
          <ticker value="KBH"/>
        </identifiers>
        <balance>87666</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4536715.5</valUSD>
        <pctVal>0.7358615009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRST BANCORP/SOUTHERN PI</name>
        <lei>N/A</lei>
        <title>FIRST BANCORP/SOUTHERN PI</title>
        <cusip>318910106</cusip>
        <identifiers>
          <isin value="US3189101062"/>
          <ticker value="FBNC"/>
        </identifiers>
        <balance>22610</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1274073.5</valUSD>
        <pctVal>0.2066564760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MYRIAD GENETICS INC</name>
        <lei>52990044IHUOUMETT163</lei>
        <title>MYRIAD GENETICS INC</title>
        <cusip>62855J104</cusip>
        <identifiers>
          <isin value="US62855J1043"/>
          <ticker value="MYGN"/>
        </identifiers>
        <balance>114420</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>514890</valUSD>
        <pctVal>0.0835158670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW JERSEY RESOURCES CORP</name>
        <lei>549300QKBSQBIX4DQ583</lei>
        <title>NEW JERSEY RESOURCES CORP</title>
        <cusip>646025106</cusip>
        <identifiers>
          <isin value="US6460251068"/>
          <ticker value="NJR"/>
        </identifiers>
        <balance>68780</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3777397.6</valUSD>
        <pctVal>0.6126990920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NPK INTERNATIONAL INC</name>
        <lei>54930073OHWDQW4DJN26</lei>
        <title>NPK INTERNATIONAL INC</title>
        <cusip>651718504</cusip>
        <identifiers>
          <isin value="US6517185046"/>
          <ticker value="NPKI"/>
        </identifiers>
        <balance>186558</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2703225.42</valUSD>
        <pctVal>0.4384668853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMMUNITY FINANCIAL</name>
        <lei>5299008N6YHE6GCP1E80</lei>
        <title>COMMUNITY FINANCIAL</title>
        <cusip>203607106</cusip>
        <identifiers>
          <isin value="US2036071064"/>
          <ticker value="CBU"/>
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        <balance>52162</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3059301.3</valUSD>
        <pctVal>0.4962228833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WORLD ACCEPTANCE CORP</name>
        <lei>529900M7JQUDCH7Q9153</lei>
        <title>WORLD ACCEPTANCE CORP</title>
        <cusip>981419104</cusip>
        <identifiers>
          <isin value="US9814191048"/>
          <ticker value="WRLD"/>
        </identifiers>
        <balance>9775</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1320016</valUSD>
        <pctVal>0.2141084128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTHRIM BANCORP INC</name>
        <lei>5493006X7RLLTZ3SG075</lei>
        <title>NORTHRIM BANCORP INC</title>
        <cusip>666762109</cusip>
        <identifiers>
          <isin value="US6667621097"/>
          <ticker value="NRIM"/>
        </identifiers>
        <balance>30827</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>705321.76</valUSD>
        <pctVal>0.1144041607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCANSOURCE INC</name>
        <lei>7FHBAN017QDY4K2KP156</lei>
        <title>SCANSOURCE INC</title>
        <cusip>806037107</cusip>
        <identifiers>
          <isin value="US8060371072"/>
          <ticker value="SCSC"/>
        </identifiers>
        <balance>3409</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>123746.7</valUSD>
        <pctVal>0.0200718851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MATIV INC</name>
        <lei>549300Z1FU4IDULG1R21</lei>
        <title>MATIV INC</title>
        <cusip>808541106</cusip>
        <identifiers>
          <isin value="US8085411069"/>
          <ticker value="MATV"/>
        </identifiers>
        <balance>50971</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>443447.7</valUSD>
        <pctVal>0.0719278275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHOE CARNIVAL INC</name>
        <lei>N/A</lei>
        <title>SHOE CARNIVAL INC</title>
        <cusip>824889109</cusip>
        <identifiers>
          <isin value="US8248891090"/>
          <ticker value="SCVL"/>
        </identifiers>
        <balance>73915</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1152334.85</valUSD>
        <pctVal>0.1869102994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COPT DEFENSE PROPERTIES</name>
        <lei>YY1J47X6LF9TYY8JY420</lei>
        <title>COPT DEFENSE PROPERTIES</title>
        <cusip>22002T108</cusip>
        <identifiers>
          <isin value="US22002T1088"/>
          <ticker value="CDP"/>
        </identifiers>
        <balance>22077</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>675556.2</valUSD>
        <pctVal>0.1095761458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STEWART INFO. SERVS. CORP</name>
        <lei>529900TV1XI0PLKENU10</lei>
        <title>STEWART INFO. SERVS. CORP</title>
        <cusip>860372101</cusip>
        <identifiers>
          <isin value="US8603721015"/>
          <ticker value="STC"/>
        </identifiers>
        <balance>17217</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1060222.86</valUSD>
        <pctVal>0.1719696078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMMUNITY TST. BANCORP IN</name>
        <lei>N/A</lei>
        <title>COMMUNITY TST. BANCORP IN</title>
        <cusip>204149108</cusip>
        <identifiers>
          <isin value="US2041491083"/>
          <ticker value="CTBI"/>
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        <balance>63067</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3829428.24</valUSD>
        <pctVal>0.6211385334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMERGENT BIOSOLUTIONS INC</name>
        <lei>549300YW6TUOX8BE5103</lei>
        <title>EMERGENT BIOSOLUTIONS INC</title>
        <cusip>29089Q105</cusip>
        <identifiers>
          <isin value="US29089Q1058"/>
          <ticker value="EBS"/>
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        <balance>146094</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1212580.2</valUSD>
        <pctVal>0.1966821781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HERITAGE FINANCIAL CORP/W</name>
        <lei>N/A</lei>
        <title>HERITAGE FINANCIAL CORP/W</title>
        <cusip>42722X106</cusip>
        <identifiers>
          <isin value="US42722X1063"/>
          <ticker value="HFWA"/>
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        <balance>31348</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>815048</valUSD>
        <pctVal>0.1322019079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HEALTHSTREAM INC</name>
        <lei>529900OJ88H8635JNH64</lei>
        <title>HEALTHSTREAM INC</title>
        <cusip>42222N103</cusip>
        <identifiers>
          <isin value="US42222N1037"/>
          <ticker value="HSTM"/>
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        <balance>4102</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>84952.42</valUSD>
        <pctVal>0.0137793995</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTRAL PACIFIC FINL. COR</name>
        <lei>549300W3YEAOZ4KGG849</lei>
        <title>CENTRAL PACIFIC FINL. COR</title>
        <cusip>154760409</cusip>
        <identifiers>
          <isin value="US1547604090"/>
          <ticker value="CPF"/>
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        <balance>34519</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1103227.24</valUSD>
        <pctVal>0.1789449774</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCHANTS BANCORP/IN</name>
        <lei>54930008Y0GPVLF81889</lei>
        <title>MERCHANTS BANCORP/IN</title>
        <cusip>58844R108</cusip>
        <identifiers>
          <isin value="US58844R1086"/>
          <ticker value="MBIN"/>
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        <balance>34539</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1482068.49</valUSD>
        <pctVal>0.2403935498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITI GRP. INC</name>
        <lei>549300V3NU625PJUVA84</lei>
        <title>UNITI GRP. INC</title>
        <cusip>912932100</cusip>
        <identifiers>
          <isin value="US9129321009"/>
          <ticker value="UNIT"/>
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        <balance>328210</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3078609.8</valUSD>
        <pctVal>0.4993547486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LXP INDL. TRUST</name>
        <lei>549300S4MH2ICXDBFV43</lei>
        <title>LXP INDL. TRUST</title>
        <cusip>529043408</cusip>
        <identifiers>
          <isin value="US5290434084"/>
          <ticker value="LXP"/>
        </identifiers>
        <balance>24570</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1136608.2</valUSD>
        <pctVal>0.1843594151</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDIVIOR PHARMS. INC</name>
        <lei>N/A</lei>
        <title>INDIVIOR PHARMS. INC</title>
        <cusip>45579U109</cusip>
        <identifiers>
          <isin value="US45579U1097"/>
          <ticker value="INDV"/>
        </identifiers>
        <balance>16803</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>512155.44</valUSD>
        <pctVal>0.0830723176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NABORS INDS. LTD</name>
        <lei>N/A</lei>
        <title>NABORS INDS. LTD</title>
        <cusip>G6359F137</cusip>
        <identifiers>
          <isin value="BMG6359F1370"/>
          <ticker value="NBR"/>
        </identifiers>
        <balance>10456</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>899843.36</valUSD>
        <pctVal>0.1459558320</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>GIBRALTAR INDS. INC</name>
        <lei>549300AE5O3GN0YBLM57</lei>
        <title>GIBRALTAR INDS. INC</title>
        <cusip>374689107</cusip>
        <identifiers>
          <isin value="US3746891072"/>
          <ticker value="ROCK"/>
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        <balance>9775</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>389729.25</valUSD>
        <pctVal>0.0632146210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIGNET JEWELERS LTD</name>
        <lei>549300N3XPGE91WV7M22</lei>
        <title>SIGNET JEWELERS LTD</title>
        <cusip>G81276100</cusip>
        <identifiers>
          <isin value="BMG812761002"/>
          <ticker value="SIG"/>
        </identifiers>
        <balance>19201</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1625172.64</valUSD>
        <pctVal>0.2636052400</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>KEMPER CORP</name>
        <lei>549300FNI1JKTRY2PV09</lei>
        <title>KEMPER CORP</title>
        <cusip>488401100</cusip>
        <identifiers>
          <isin value="US4884011002"/>
          <ticker value="KMPR"/>
        </identifiers>
        <balance>23058</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>704652.48</valUSD>
        <pctVal>0.1142956025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SANMINA CORP</name>
        <lei>X5K24XLM8QYRXF00EB42</lei>
        <title>SANMINA CORP</title>
        <cusip>801056102</cusip>
        <identifiers>
          <isin value="US8010561020"/>
          <ticker value="SANM"/>
        </identifiers>
        <balance>52147</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6760337.08</valUSD>
        <pctVal>1.0965359830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POWER SOLS. INTL. INC</name>
        <lei>549300JWGWDXC70SNH31</lei>
        <title>POWER SOLS. INTL. INC</title>
        <cusip>73933G202</cusip>
        <identifiers>
          <isin value="US73933G2021"/>
          <ticker value="PSIX"/>
        </identifiers>
        <balance>8608</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>524055.04</valUSD>
        <pctVal>0.0850024491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="524055.040000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>DIAMONDROCK HOSPITALITY C</name>
        <lei>529900KKD4BPVBUAQ734</lei>
        <title>DIAMONDROCK HOSPITALITY C</title>
        <cusip>252784301</cusip>
        <identifiers>
          <isin value="US2527843013"/>
          <ticker value="DRH"/>
        </identifiers>
        <balance>239110</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2240460.7</valUSD>
        <pctVal>0.3634058105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ADAPTHEALTH CORP</name>
        <lei>N/A</lei>
        <title>ADAPTHEALTH CORP</title>
        <cusip>00653Q102</cusip>
        <identifiers>
          <isin value="US00653Q1022"/>
          <ticker value="AHCO"/>
        </identifiers>
        <balance>135045</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1607035.5</valUSD>
        <pctVal>0.2606633709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SILA REALTY TRUST INC COM</name>
        <lei>549300HXH142HWKKSW59</lei>
        <title>SILA REALTY TRUST INC COM</title>
        <cusip>146280508</cusip>
        <identifiers>
          <isin value="US1462805086"/>
          <ticker value="SILA"/>
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        <balance>23323</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>552288.64</valUSD>
        <pctVal>0.0895819779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEEKAY TANKERS LTD</name>
        <lei>549300DE8ZAIYS2T6Q22</lei>
        <title>TEEKAY TANKERS LTD</title>
        <cusip>G8726X106</cusip>
        <identifiers>
          <isin value="BMG8726X1065"/>
          <ticker value="TNK"/>
        </identifiers>
        <balance>43481</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3188026.92</valUSD>
        <pctVal>0.5171023561</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>PERIMETER SOLS. INC</name>
        <lei>N/A</lei>
        <title>PERIMETER SOLS. INC</title>
        <cusip>71385M107</cusip>
        <identifiers>
          <isin value="US71385M1071"/>
          <ticker value="PRM"/>
        </identifiers>
        <balance>98140</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2396578.8</valUSD>
        <pctVal>0.3887283813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UFP INDS INC COM</name>
        <lei>5493007KB485C9OV5572</lei>
        <title>UFP INDS INC COM</title>
        <cusip>90278Q108</cusip>
        <identifiers>
          <isin value="US90278Q1085"/>
          <ticker value="UFPI"/>
        </identifiers>
        <balance>41492</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3822243.04</valUSD>
        <pctVal>0.6199730841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZOOMINFO TECHS. INC</name>
        <lei>2549008GSAHW4UWFEM58</lei>
        <title>ZOOMINFO TECHS. INC</title>
        <cusip>98980F104</cusip>
        <identifiers>
          <isin value="US98980F1049"/>
          <ticker value="GTM"/>
        </identifiers>
        <balance>54617</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>326609.66</valUSD>
        <pctVal>0.0529765366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANGI INC</name>
        <lei>5493003ENY577E6SZL06</lei>
        <title>ANGI INC</title>
        <cusip>00183L201</cusip>
        <identifiers>
          <isin value="US00183L2016"/>
          <ticker value="ANGI"/>
        </identifiers>
        <balance>142099</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>973378.15</valUSD>
        <pctVal>0.1578832762</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXXEN INTL. LTD</name>
        <lei>213800ZNSR7AIJZ2J557</lei>
        <title>NEXXEN INTL. LTD</title>
        <cusip>M8T80P204</cusip>
        <identifiers>
          <isin value="IL0012165630"/>
          <ticker value="NEXN"/>
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        <balance>62942</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>410381.84</valUSD>
        <pctVal>0.0665644995</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="171919.360000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>CUSHMAN &amp; WAKEFIELD LTD</name>
        <lei>N/A</lei>
        <title>CUSHMAN &amp; WAKEFIELD LTD</title>
        <cusip>G2717C106</cusip>
        <identifiers>
          <isin value="BMG2717C1064"/>
          <ticker value="CWK"/>
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        <balance>231401</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2836976.26</valUSD>
        <pctVal>0.4601614557</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RADIAN GRP. INC</name>
        <lei>54930005OUP720S5U385</lei>
        <title>RADIAN GRP. INC</title>
        <cusip>750236101</cusip>
        <identifiers>
          <isin value="US7502361014"/>
          <ticker value="RDN"/>
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        <balance>154522</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5111587.76</valUSD>
        <pctVal>0.8291065730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BREAD FINL. HLDGS. INC</name>
        <lei>549300G8S4PO686J7H97</lei>
        <title>BREAD FINL. HLDGS. INC</title>
        <cusip>018581108</cusip>
        <identifiers>
          <isin value="US0185811082"/>
          <ticker value="BFH"/>
        </identifiers>
        <balance>11671</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>874041.19</valUSD>
        <pctVal>0.1417706845</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WSFS FINL. CORP</name>
        <lei>549300SU7VQHD6QRG886</lei>
        <title>WSFS FINL. CORP</title>
        <cusip>929328102</cusip>
        <identifiers>
          <isin value="US9293281021"/>
          <ticker value="WSFS"/>
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        <balance>10357</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>677969.22</valUSD>
        <pctVal>0.1099675410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ETHAN ALLEN INTERIORS INC</name>
        <lei>N/A</lei>
        <title>ETHAN ALLEN INTERIORS INC</title>
        <cusip>297602104</cusip>
        <identifiers>
          <isin value="US2976021046"/>
          <ticker value="ETD"/>
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        <balance>80538</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1792775.88</valUSD>
        <pctVal>0.2907907163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CERAGON NETWORKS LTD</name>
        <lei>529900WC6JZN5WQLZ645</lei>
        <title>CERAGON NETWORKS LTD</title>
        <cusip>M22013102</cusip>
        <identifiers>
          <isin value="IL0010851660"/>
          <ticker value="CRNT"/>
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        <balance>236671</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>511209.36</valUSD>
        <pctVal>0.0829188621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TTM TECHS. INC</name>
        <lei>549300SC4BDOIS008048</lei>
        <title>TTM TECHS. INC</title>
        <cusip>87305R109</cusip>
        <identifiers>
          <isin value="US87305R1095"/>
          <ticker value="TTMI"/>
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        <balance>30196</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2941694.32</valUSD>
        <pctVal>0.4771468692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GLACIER BANCORP INC</name>
        <lei>549300SMJAUKZB5D7V74</lei>
        <title>GLACIER BANCORP INC</title>
        <cusip>37637Q105</cusip>
        <identifiers>
          <isin value="US37637Q1058"/>
          <ticker value="GBCI"/>
        </identifiers>
        <balance>39321</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1756469.07</valUSD>
        <pctVal>0.2849017017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FLUOR CORP</name>
        <lei>CQ7WZ4NOFWT7FAE6Q943</lei>
        <title>FLUOR CORP</title>
        <cusip>343412102</cusip>
        <identifiers>
          <isin value="US3434121022"/>
          <ticker value="FLR"/>
        </identifiers>
        <balance>55646</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2595885.9</valUSD>
        <pctVal>0.4210562674</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HEALTHCARE SERVS. GRP. IN</name>
        <lei>529900GVZ1D2FBYMS719</lei>
        <title>HEALTHCARE SERVS. GRP. IN</title>
        <cusip>421906108</cusip>
        <identifiers>
          <isin value="US4219061086"/>
          <ticker value="HCSG"/>
        </identifiers>
        <balance>10005</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>185592.75</valUSD>
        <pctVal>0.0301033996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BEL FUSE INC</name>
        <lei>2549009L4XYDBRRY6X39</lei>
        <title>BEL FUSE INC</title>
        <cusip>077347300</cusip>
        <identifiers>
          <isin value="US0773473006"/>
          <ticker value="BELFB"/>
        </identifiers>
        <balance>1424</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>281923.52</valUSD>
        <pctVal>0.0457283831</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KENNAMETAL INC</name>
        <lei>549300GZDSG25XUV0Y08</lei>
        <title>KENNAMETAL INC</title>
        <cusip>489170100</cusip>
        <identifiers>
          <isin value="US4891701009"/>
          <ticker value="KMT"/>
        </identifiers>
        <balance>26377</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>953001.01</valUSD>
        <pctVal>0.1545780760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEGGETT &amp; PLATT INC</name>
        <lei>DKOVQUCDW4ZLYCUD4T55</lei>
        <title>LEGGETT &amp; PLATT INC</title>
        <cusip>524660107</cusip>
        <identifiers>
          <isin value="US5246601075"/>
          <ticker value="LEG"/>
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        <balance>55122</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>544605.36</valUSD>
        <pctVal>0.0883357393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OMNICELL INC</name>
        <lei>5493008RH0GTKHHPZI77</lei>
        <title>OMNICELL INC</title>
        <cusip>68213N109</cusip>
        <identifiers>
          <isin value="US68213N1090"/>
          <ticker value="OMCL"/>
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        <balance>12978</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>433205.64</valUSD>
        <pctVal>0.0702665513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MERITAGE HOMES CORP</name>
        <lei>52990044W9UMFJO2FB97</lei>
        <title>MERITAGE HOMES CORP</title>
        <cusip>59001A102</cusip>
        <identifiers>
          <isin value="US59001A1025"/>
          <ticker value="MTH"/>
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        <balance>35731</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2209605.04</valUSD>
        <pctVal>0.3584009800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CLEARWAY ENERGY INC</name>
        <lei>549300LHAZ9HA9G3XC48</lei>
        <title>CLEARWAY ENERGY INC</title>
        <cusip>18539C204</cusip>
        <identifiers>
          <isin value="US18539C2044"/>
          <ticker value="CWEN"/>
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        <balance>18424</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>723878.96</valUSD>
        <pctVal>0.1174141641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAMDEN NATL. CORP</name>
        <lei>549300ZVEDL2L8UW4F28</lei>
        <title>CAMDEN NATL. CORP</title>
        <cusip>133034108</cusip>
        <identifiers>
          <isin value="US1330341082"/>
          <ticker value="CAC"/>
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        <balance>14031</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>665770.95</valUSD>
        <pctVal>0.1079889648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>M/I HOMES INC</name>
        <lei>5299005M71FH9CCSFB69</lei>
        <title>M/I HOMES INC</title>
        <cusip>55305B101</cusip>
        <identifiers>
          <isin value="US55305B1017"/>
          <ticker value="MHO"/>
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        <balance>23906</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2927289.7</valUSD>
        <pctVal>0.4748104200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST FINL. BANCORP</name>
        <lei>549300D3F5B3EZMY7P77</lei>
        <title>FIRST FINL. BANCORP</title>
        <cusip>320209109</cusip>
        <identifiers>
          <isin value="US3202091092"/>
          <ticker value="FFBC"/>
        </identifiers>
        <balance>95936</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2674695.68</valUSD>
        <pctVal>0.4338393222</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;T BANCORP INC</name>
        <lei>N/A</lei>
        <title>S&amp;T BANCORP INC</title>
        <cusip>783859101</cusip>
        <identifiers>
          <isin value="US7838591011"/>
          <ticker value="STBA"/>
        </identifiers>
        <balance>15039</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>629081.37</valUSD>
        <pctVal>0.1020378644</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MERCURY GEN. CORP</name>
        <lei>5493001Q9EXPCEL4W527</lei>
        <title>MERCURY GEN. CORP</title>
        <cusip>589400100</cusip>
        <identifiers>
          <isin value="US5894001008"/>
          <ticker value="MCY"/>
        </identifiers>
        <balance>9504</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>837777.6</valUSD>
        <pctVal>0.1358886803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NBT BANCORP INC</name>
        <lei>N/A</lei>
        <title>NBT BANCORP INC</title>
        <cusip>628778102</cusip>
        <identifiers>
          <isin value="US6287781024"/>
          <ticker value="NBTB"/>
        </identifiers>
        <balance>96582</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4112461.56</valUSD>
        <pctVal>0.6670469276</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MYERS INDS. INC</name>
        <lei>549300I2H9XMVTCW4Q51</lei>
        <title>MYERS INDS. INC</title>
        <cusip>628464109</cusip>
        <identifiers>
          <isin value="US6284641098"/>
          <ticker value="MYE"/>
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        <balance>48929</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1036316.22</valUSD>
        <pctVal>0.1680919178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL HEALTH INVSTRS.</name>
        <lei>549300ZPKZIG6DKDEC02</lei>
        <title>NATIONAL HEALTH INVSTRS.</title>
        <cusip>63633D104</cusip>
        <identifiers>
          <isin value="US63633D1046"/>
          <ticker value="NHI"/>
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        <balance>49695</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4018337.7</valUSD>
        <pctVal>0.6517799080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SYNAPTICS INC</name>
        <lei>549300AJ3LI4FWNRQX29</lei>
        <title>SYNAPTICS INC</title>
        <cusip>87157D109</cusip>
        <identifiers>
          <isin value="US87157D1090"/>
          <ticker value="SYNA"/>
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        <balance>35310</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2473112.4</valUSD>
        <pctVal>0.4011422366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TETRA TECHS. INC</name>
        <lei>549300T5W131705EK832</lei>
        <title>TETRA TECHS. INC</title>
        <cusip>88162F105</cusip>
        <identifiers>
          <isin value="US88162F1057"/>
          <ticker value="TTI"/>
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        <balance>145843</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1242582.36</valUSD>
        <pctVal>0.2015485698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARCUS CORP/THE</name>
        <lei>549300NL0OKPNEMP6B79</lei>
        <title>MARCUS CORP/THE</title>
        <cusip>566330106</cusip>
        <identifiers>
          <isin value="US5663301068"/>
          <ticker value="MCS"/>
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        <balance>38624</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>663174.08</valUSD>
        <pctVal>0.1075677489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>USANA HEALTH SCIENCES INC</name>
        <lei>549300YTURXE814MAH96</lei>
        <title>USANA HEALTH SCIENCES INC</title>
        <cusip>90328M107</cusip>
        <identifiers>
          <isin value="US90328M1071"/>
          <ticker value="USNA"/>
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        <balance>10462</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>182771.14</valUSD>
        <pctVal>0.0296457306</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WILLIS LEASE FIN. CORP</name>
        <lei>54930023EP1OE5MKWF89</lei>
        <title>WILLIS LEASE FIN. CORP</title>
        <cusip>970646105</cusip>
        <identifiers>
          <isin value="US9706461053"/>
          <ticker value="WLFC"/>
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        <balance>3451</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>587567.26</valUSD>
        <pctVal>0.0953042186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TRINITY INDS. INC</name>
        <lei>R1JB4KXN77XFCXOQKV49</lei>
        <title>TRINITY INDS. INC</title>
        <cusip>896522109</cusip>
        <identifiers>
          <isin value="US8965221091"/>
          <ticker value="TRN"/>
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        <balance>21144</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>680413.92</valUSD>
        <pctVal>0.1103640747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VEECO INSTRUMENTS INC</name>
        <lei>5493004201F72ADDZW04</lei>
        <title>VEECO INSTRUMENTS INC</title>
        <cusip>922417100</cusip>
        <identifiers>
          <isin value="US9224171002"/>
          <ticker value="VECO"/>
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        <balance>110951</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3756800.86</valUSD>
        <pctVal>0.6093582724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WESTAMERICA BANCORP</name>
        <lei>984500CF4F8115C11D96</lei>
        <title>WESTAMERICA BANCORP</title>
        <cusip>957090103</cusip>
        <identifiers>
          <isin value="US9570901036"/>
          <ticker value="WABC"/>
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        <balance>30459</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1588436.85</valUSD>
        <pctVal>0.2576466443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NI US GOV T PORTFOLIO</name>
        <lei>549300Y178DO5JBR1S04</lei>
        <title>NI US GOV T PORTFOLIO</title>
        <cusip>665278404</cusip>
        <identifiers>
          <isin value="US6652784041"/>
          <ticker value="BNGXX"/>
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        <balance>19151220.65</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19151220.65</valUSD>
        <pctVal>3.1063543595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 0.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 0.00%</title>
        <cusip>912797SP3</cusip>
        <identifiers>
          <isin value="US912797SP38"/>
          <ticker value="B"/>
        </identifiers>
        <balance>1952000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1944889.84</valUSD>
        <pctVal>0.3154638100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-07</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERFACE INC</name>
        <lei>549300VXZWQOIDFPU355</lei>
        <title>INTERFACE INC</title>
        <cusip>458665304</cusip>
        <identifiers>
          <isin value="US4586653044"/>
          <ticker value="TILE"/>
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        <balance>27719</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>690757.48</valUSD>
        <pctVal>0.1120418144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PATHWARD FINL INC COM</name>
        <lei>5493004X52BH1NBLW813</lei>
        <title>PATHWARD FINL INC COM</title>
        <cusip>59100U108</cusip>
        <identifiers>
          <isin value="US59100U1088"/>
          <ticker value="CASH"/>
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        <balance>15458</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1379317.34</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PRESTIGE CONSUMER HEALTHC</name>
        <lei>N/A</lei>
        <title>PRESTIGE CONSUMER HEALTHC</title>
        <cusip>74112D101</cusip>
        <identifiers>
          <isin value="US74112D1019"/>
          <ticker value="PBH"/>
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        <balance>48247</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2859599.69</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RUSH ENTS. INC</name>
        <lei>529900V3XHTN7A6DFT17</lei>
        <title>RUSH ENTS. INC</title>
        <cusip>781846209</cusip>
        <identifiers>
          <isin value="US7818462092"/>
          <ticker value="RUSHA"/>
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        <balance>49747</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3288774.17</valUSD>
        <pctVal>0.5334436988</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ZUMIEZ INC</name>
        <lei>549300J0PDF58P6HZD25</lei>
        <title>ZUMIEZ INC</title>
        <cusip>989817101</cusip>
        <identifiers>
          <isin value="US9898171015"/>
          <ticker value="ZUMZ"/>
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        <balance>23116</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>512250.56</valUSD>
        <pctVal>0.0830877462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ONE LIBERTY PROPS. INC</name>
        <lei>549300QII1CQZGZBZR14</lei>
        <title>ONE LIBERTY PROPS. INC</title>
        <cusip>682406103</cusip>
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          <isin value="US6824061039"/>
          <ticker value="OLP"/>
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        <balance>67059</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1439086.14</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>SIERRA BANCORP</name>
        <lei>N/A</lei>
        <title>SIERRA BANCORP</title>
        <cusip>82620P102</cusip>
        <identifiers>
          <isin value="US82620P1021"/>
          <ticker value="BSRR"/>
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        <balance>52912</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1794775.04</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>PDL BIOPHARMA INC</name>
        <lei>FE4K0NQFI4D86DSOL165</lei>
        <title>PDL BIOPHARMA INC</title>
        <cusip>69329Y104</cusip>
        <identifiers>
          <isin value="US69329Y1047"/>
          <ticker value="PDLI"/>
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        <balance>1029654</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>308896.2</valUSD>
        <pctVal>0.0501033890</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INNOSPEC INC</name>
        <lei>213800SQBACNY5IWJO68</lei>
        <title>INNOSPEC INC</title>
        <cusip>45768S105</cusip>
        <identifiers>
          <isin value="US45768S1050"/>
          <ticker value="IOSP"/>
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        <balance>23995</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1752114.9</valUSD>
        <pctVal>0.2841954493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENTERPRISE FINL. SERVS. C</name>
        <lei>5493001XTU5DLD632129</lei>
        <title>ENTERPRISE FINL. SERVS. C</title>
        <cusip>293712105</cusip>
        <identifiers>
          <isin value="US2937121059"/>
          <ticker value="EFSC"/>
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        <balance>21371</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1156384.81</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>COEUR MINING INC</name>
        <lei>5493003AVK173D48DR70</lei>
        <title>COEUR MINING INC</title>
        <cusip>192108504</cusip>
        <identifiers>
          <isin value="US1921085049"/>
          <ticker value="CDE"/>
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        <balance>240383</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4511988.91</valUSD>
        <pctVal>0.7318508139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANNER CORP</name>
        <lei>N/A</lei>
        <title>BANNER CORP</title>
        <cusip>06652V208</cusip>
        <identifiers>
          <isin value="US06652V2088"/>
          <ticker value="BANR"/>
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        <balance>28369</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1721430.92</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>PREFERRED BANK/LOS ANGELE</name>
        <lei>5493007K6HGI9G0ECX16</lei>
        <title>PREFERRED BANK/LOS ANGELE</title>
        <cusip>740367404</cusip>
        <identifiers>
          <isin value="US7403674044"/>
          <ticker value="PFBC"/>
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        <balance>16375</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1485048.75</valUSD>
        <pctVal>0.2408769521</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AH REALTY TRUST INC</name>
        <lei>549300WQRSIV6XZT9313</lei>
        <title>AH REALTY TRUST INC</title>
        <cusip>04208T108</cusip>
        <identifiers>
          <isin value="US04208T1088"/>
          <ticker value="AHRT"/>
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        <balance>75583</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>415706.5</valUSD>
        <pctVal>0.0674281667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STAGWELL INC</name>
        <lei>549300KIYTU6J3NYJ009</lei>
        <title>STAGWELL INC</title>
        <cusip>85256A109</cusip>
        <identifiers>
          <isin value="US85256A1097"/>
          <ticker value="STGW"/>
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        <balance>111064</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>698592.56</valUSD>
        <pctVal>0.1133126752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GREAT LAKES DREDGE &amp; DOCK</name>
        <lei>549300H65E3MZ1CX0P05</lei>
        <title>GREAT LAKES DREDGE &amp; DOCK</title>
        <cusip>390607109</cusip>
        <identifiers>
          <isin value="US3906071093"/>
          <ticker value="GLDD"/>
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        <balance>61033</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1037561</valUSD>
        <pctVal>0.1682938229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IDT CORP</name>
        <lei>549300JNTN7ZMJDFCL56</lei>
        <title>IDT CORP</title>
        <cusip>448947507</cusip>
        <identifiers>
          <isin value="US4489475073"/>
          <ticker value="IDT"/>
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        <balance>4775</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>234452.5</valUSD>
        <pctVal>0.0380285183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICAN ASSETS TST. INC</name>
        <lei>N/A</lei>
        <title>AMERICAN ASSETS TST. INC</title>
        <cusip>024013104</cusip>
        <identifiers>
          <isin value="US0240131047"/>
          <ticker value="AAT"/>
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        <balance>72335</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1331687.35</valUSD>
        <pctVal>0.2160015218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INDEPENDENT BANK CORP/MI</name>
        <lei>N/A</lei>
        <title>INDEPENDENT BANK CORP/MI</title>
        <cusip>453838609</cusip>
        <identifiers>
          <isin value="US4538386099"/>
          <ticker value="IBCP"/>
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        <balance>18281</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>608757.3</valUSD>
        <pctVal>0.0987412723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WHITESTONE REIT</name>
        <lei>N/A</lei>
        <title>WHITESTONE REIT</title>
        <cusip>966084204</cusip>
        <identifiers>
          <isin value="US9660842041"/>
          <ticker value="WSR"/>
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        <balance>46718</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>754495.7</valUSD>
        <pctVal>0.1223802414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN PUBLIC EDUCATION</name>
        <lei>254900GZNX6TJQGM4S17</lei>
        <title>AMERICAN PUBLIC EDUCATION</title>
        <cusip>02913V103</cusip>
        <identifiers>
          <isin value="US02913V1035"/>
          <ticker value="APEI"/>
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        <balance>23288</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1324621.44</valUSD>
        <pctVal>0.2148554215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ECHOSTAR CORP</name>
        <lei>549300EE20907QZ9GT38</lei>
        <title>ECHOSTAR CORP</title>
        <cusip>278768106</cusip>
        <identifiers>
          <isin value="US2787681061"/>
          <ticker value="SATS"/>
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        <balance>20354</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2382842.78</valUSD>
        <pctVal>0.3865003800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIVERAMP HLDGS. INC</name>
        <lei>254900GXS75LG1X7RF88</lei>
        <title>LIVERAMP HLDGS. INC</title>
        <cusip>53815P108</cusip>
        <identifiers>
          <isin value="US53815P1084"/>
          <ticker value="RAMP"/>
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        <balance>21040</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>557980.8</valUSD>
        <pctVal>0.0905052541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INNOVEX INTL. INC</name>
        <lei>5299007REICYIJNMW197</lei>
        <title>INNOVEX INTL. INC</title>
        <cusip>457651107</cusip>
        <identifiers>
          <isin value="US4576511079"/>
          <ticker value="INVX"/>
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        <balance>32631</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>795870.09</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>HACKETT GRP. INC/THE</name>
        <lei>5K016KLIRB6156644289</lei>
        <title>HACKETT GRP. INC/THE</title>
        <cusip>404609109</cusip>
        <identifiers>
          <isin value="US4046091090"/>
          <ticker value="HCKT"/>
        </identifiers>
        <balance>3744</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48709.44</valUSD>
        <pctVal>0.0079007382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="48709.440000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>HANMI FINL. CORP</name>
        <lei>549300MSZ7RCG7EA6587</lei>
        <title>HANMI FINL. CORP</title>
        <cusip>410495204</cusip>
        <identifiers>
          <isin value="US4104952043"/>
          <ticker value="HAFC"/>
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        <balance>24918</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>656838.48</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>SCORPIO TANKERS INC</name>
        <lei>549300NVJUH16NXG8K87</lei>
        <title>SCORPIO TANKERS INC</title>
        <cusip>Y7542C130</cusip>
        <identifiers>
          <isin value="MHY7542C1306"/>
          <ticker value="STNG"/>
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        <balance>39303</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2934361.98</valUSD>
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        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>HELIOS TECHS. INC</name>
        <lei>5493000BCJSMIDRNTI78</lei>
        <title>HELIOS TECHS. INC</title>
        <cusip>42328H109</cusip>
        <identifiers>
          <isin value="US42328H1095"/>
          <ticker value="HLIO"/>
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        <balance>18876</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1221465.96</valUSD>
        <pctVal>0.1981234606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EPR PROPERTIES</name>
        <lei>549300YSSXFHMPOWZ492</lei>
        <title>EPR PROPERTIES</title>
        <cusip>26884U109</cusip>
        <identifiers>
          <isin value="US26884U1097"/>
          <ticker value="EPR"/>
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        <balance>10712</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>535171.52</valUSD>
        <pctVal>0.0868055574</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PRIMORIS SERVS. CORP</name>
        <lei>549300UF3OLBJ8D5K349</lei>
        <title>PRIMORIS SERVS. CORP</title>
        <cusip>74164F103</cusip>
        <identifiers>
          <isin value="US74164F1030"/>
          <ticker value="PRIM"/>
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        <balance>9467</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1354159.68</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>SABRA HEALTH CARE REIT IN</name>
        <lei>549300E3BC7GU7TAZ621</lei>
        <title>SABRA HEALTH CARE REIT IN</title>
        <cusip>78573L106</cusip>
        <identifiers>
          <isin value="US78573L1061"/>
          <ticker value="SBRA"/>
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        <balance>115755</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2225968.65</valUSD>
        <pctVal>0.3610551801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CASTLE BIOSCIENCES INC</name>
        <lei>2549007M2Q4HLR1XD252</lei>
        <title>CASTLE BIOSCIENCES INC</title>
        <cusip>14843C105</cusip>
        <identifiers>
          <isin value="US14843C1053"/>
          <ticker value="CSTL"/>
        </identifiers>
        <balance>7550</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>185352.5</valUSD>
        <pctVal>0.0300644307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SFL CORP LTD</name>
        <lei>549300RLYYPSB0C7RH77</lei>
        <title>SFL CORP LTD</title>
        <cusip>G7738W106</cusip>
        <identifiers>
          <isin value="BMG7738W1064"/>
          <ticker value="SFL"/>
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        <balance>61950</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>668440.5</valUSD>
        <pctVal>0.1084219695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LIGAND PHARMS. INC</name>
        <lei>5493008K7TB0IKP37H79</lei>
        <title>LIGAND PHARMS. INC</title>
        <cusip>53220K504</cusip>
        <identifiers>
          <isin value="US53220K5048"/>
          <ticker value="LGND"/>
        </identifiers>
        <balance>12899</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2575285.35</valUSD>
        <pctVal>0.4177148298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUNCOKE ENERGY INC</name>
        <lei>1KF1J2NXQE2PI0QOB943</lei>
        <title>SUNCOKE ENERGY INC</title>
        <cusip>86722A103</cusip>
        <identifiers>
          <isin value="US86722A1034"/>
          <ticker value="SXC"/>
        </identifiers>
        <balance>66991</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>436111.41</valUSD>
        <pctVal>0.0707378712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PACIRA BIOSCIENCES INC</name>
        <lei>549300P56LERYBDHCF69</lei>
        <title>PACIRA BIOSCIENCES INC</title>
        <cusip>695127100</cusip>
        <identifiers>
          <isin value="US6951271005"/>
          <ticker value="PCRX"/>
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        <balance>42768</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>966556.8</valUSD>
        <pctVal>0.1567768439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BOISE CASCADE CO</name>
        <lei>549300Z8B8LSRHC7XA55</lei>
        <title>BOISE CASCADE CO</title>
        <cusip>09739D100</cusip>
        <identifiers>
          <isin value="US09739D1000"/>
          <ticker value="BCC"/>
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        <balance>11989</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>909365.65</valUSD>
        <pctVal>0.1475003606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APPLE HOSPITALITY REIT IN</name>
        <lei>549300EVZAR0FBZO4F16</lei>
        <title>APPLE HOSPITALITY REIT IN</title>
        <cusip>03784Y200</cusip>
        <identifiers>
          <isin value="US03784Y2000"/>
          <ticker value="APLE"/>
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        <balance>105614</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1215617.14</valUSD>
        <pctVal>0.1971747739</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1215617.140000000000"/>
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      <invstOrSec>
        <name>TELADOC HEALTH INC</name>
        <lei>549300I2PVFBC9MFAC61</lei>
        <title>TELADOC HEALTH INC</title>
        <cusip>87918A105</cusip>
        <identifiers>
          <isin value="US87918A1051"/>
          <ticker value="TDOC"/>
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        <balance>128299</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>699229.55</valUSD>
        <pctVal>0.1134159958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RED ROCK RESORTS INC</name>
        <lei>N/A</lei>
        <title>RED ROCK RESORTS INC</title>
        <cusip>75700L108</cusip>
        <identifiers>
          <isin value="US75700L1089"/>
          <ticker value="RRR"/>
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        <balance>18285</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>975687.6</valUSD>
        <pctVal>0.1582578722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FIRST HAWAIIAN INC</name>
        <lei>5493002DJSH46F5OLV06</lei>
        <title>FIRST HAWAIIAN INC</title>
        <cusip>32051X108</cusip>
        <identifiers>
          <isin value="US32051X1081"/>
          <ticker value="FHB"/>
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        <balance>8275</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>203896</valUSD>
        <pctVal>0.0330722120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SANDRIDGE ENERGY INC COM</name>
        <lei>W1MKPVGS6I5155L7VV67</lei>
        <title>SANDRIDGE ENERGY INC COM</title>
        <cusip>80007P869</cusip>
        <identifiers>
          <isin value="US80007P8692"/>
          <ticker value="SD"/>
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        <balance>49485</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>807100.35</valUSD>
        <pctVal>0.1309127881</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TABOOLA.COM LTD</name>
        <lei>984500F5945AFAFFCB30</lei>
        <title>TABOOLA.COM LTD</title>
        <cusip>M8744T106</cusip>
        <identifiers>
          <isin value="IL0011754137"/>
          <ticker value="TBLA"/>
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        <balance>152058</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>471379.8</valUSD>
        <pctVal>0.0764584526</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RESERVOIR MEDIA INC</name>
        <lei>549300PHPDQ9M9QSNU18</lei>
        <title>RESERVOIR MEDIA INC</title>
        <cusip>76119X105</cusip>
        <identifiers>
          <isin value="US76119X1054"/>
          <ticker value="RSVR"/>
        </identifiers>
        <balance>8794</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>86093.26</valUSD>
        <pctVal>0.0139644453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VICTORIA S SECRET &amp; CO</name>
        <lei>5493006T3O70U3UWVF17</lei>
        <title>VICTORIA S SECRET &amp; CO</title>
        <cusip>926400102</cusip>
        <identifiers>
          <isin value="US9264001028"/>
          <ticker value="VSCO"/>
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        <balance>35176</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1630759.36</valUSD>
        <pctVal>0.2645114137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRST MID BANCSHARES INC</name>
        <lei>N/A</lei>
        <title>FIRST MID BANCSHARES INC</title>
        <cusip>320866106</cusip>
        <identifiers>
          <isin value="US3208661062"/>
          <ticker value="FMBH"/>
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        <balance>16199</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>667236.81</valUSD>
        <pctVal>0.1082267293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONSTELLIUM SE</name>
        <lei>724500KRJEMC79KAAU28</lei>
        <title>CONSTELLIUM SE</title>
        <cusip>F21107101</cusip>
        <identifiers>
          <isin value="FR0013467479"/>
          <ticker value="CSTM"/>
        </identifiers>
        <balance>39156</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>962454.48</valUSD>
        <pctVal>0.1561114419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HECLA MINING CO</name>
        <lei>5493009Y6HOBZD1QD537</lei>
        <title>HECLA MINING CO</title>
        <cusip>422704106</cusip>
        <identifiers>
          <isin value="US4227041062"/>
          <ticker value="HL"/>
        </identifiers>
        <balance>414299</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7718390.37</valUSD>
        <pctVal>1.2519335458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LCI INDUSTRIES</name>
        <lei>549300E1B98YNJ1WIQ04</lei>
        <title>LCI INDUSTRIES</title>
        <cusip>50189K103</cusip>
        <identifiers>
          <isin value="US50189K1034"/>
          <ticker value="LCII"/>
        </identifiers>
        <balance>6458</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>794204.84</valUSD>
        <pctVal>0.1288211186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUN COUNTRY AIRLINES HLDG</name>
        <lei>549300MOHOJN9GH0NJ48</lei>
        <title>SUN COUNTRY AIRLINES HLDG</title>
        <cusip>866683105</cusip>
        <identifiers>
          <isin value="US8666831057"/>
          <ticker value="SNCY"/>
        </identifiers>
        <balance>126933</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2096933.16</valUSD>
        <pctVal>0.3401254459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>URBAN OUTFITTERS INC</name>
        <lei>549300N3DUFR5U6NRN38</lei>
        <title>URBAN OUTFITTERS INC</title>
        <cusip>917047102</cusip>
        <identifiers>
          <isin value="US9170471026"/>
          <ticker value="URBN"/>
        </identifiers>
        <balance>12573</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>796499.55</valUSD>
        <pctVal>0.1291933237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WORTHINGTON INDS. INC</name>
        <lei>1WRCIANKYOIK6KYE5E82</lei>
        <title>WORTHINGTON INDS. INC</title>
        <cusip>981811102</cusip>
        <identifiers>
          <isin value="US9818111026"/>
          <ticker value="WOR"/>
        </identifiers>
        <balance>10003</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>521556.42</valUSD>
        <pctVal>0.0845971695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MISTER CAR WASH INC</name>
        <lei>N/A</lei>
        <title>MISTER CAR WASH INC</title>
        <cusip>60646V105</cusip>
        <identifiers>
          <isin value="US60646V1052"/>
          <ticker value="MCW"/>
        </identifiers>
        <balance>70113</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>488687.61</valUSD>
        <pctVal>0.0792658032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MASTERBRAND INC</name>
        <lei>549300E0Y4BR5Z9RDZ64</lei>
        <title>MASTERBRAND INC</title>
        <cusip>57638P104</cusip>
        <identifiers>
          <isin value="US57638P1049"/>
          <ticker value="MBC"/>
        </identifiers>
        <balance>42525</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>353382.75</valUSD>
        <pctVal>0.0573191686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXTPOWER INC</name>
        <lei>N/A</lei>
        <title>NEXTPOWER INC</title>
        <cusip>65290E101</cusip>
        <identifiers>
          <isin value="US65290E1010"/>
          <ticker value="NXT"/>
        </identifiers>
        <balance>29693</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3579491.15</valUSD>
        <pctVal>0.5805983933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XENIA HOTELS &amp; RESORTS IN</name>
        <lei>54930075IWIPHF5IQL62</lei>
        <title>XENIA HOTELS &amp; RESORTS IN</title>
        <cusip>984017103</cusip>
        <identifiers>
          <isin value="US9840171030"/>
          <ticker value="XHR"/>
        </identifiers>
        <balance>43659</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>647462.97</valUSD>
        <pctVal>0.1050193853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SMARTFINANCIAL INC</name>
        <lei>N/A</lei>
        <title>SMARTFINANCIAL INC</title>
        <cusip>83190L208</cusip>
        <identifiers>
          <isin value="US83190L2088"/>
          <ticker value="SMBK"/>
        </identifiers>
        <balance>18379</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>718251.32</valUSD>
        <pctVal>0.1165013531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTEGER HLDGS. CORP</name>
        <lei>549300SUD2ED5XG6X569</lei>
        <title>INTEGER HLDGS. CORP</title>
        <cusip>45826H109</cusip>
        <identifiers>
          <isin value="US45826H1095"/>
          <ticker value="ITGR"/>
        </identifiers>
        <balance>5765</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>507320</valUSD>
        <pctVal>0.0822880025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BIONTECH SE ADR</name>
        <lei>894500UZJ5LG1F8J1U58</lei>
        <title>BIONTECH SE ADR</title>
        <cusip>09075V102</cusip>
        <identifiers>
          <isin value="US09075V1026"/>
          <ticker value="BNTX"/>
        </identifiers>
        <balance>9581</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>851559.28</valUSD>
        <pctVal>0.1381240878</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PHILLIPS EDISON INC</name>
        <lei>549300JPN4YHYPXTJQ85</lei>
        <title>PHILLIPS EDISON INC</title>
        <cusip>71844V201</cusip>
        <identifiers>
          <isin value="US71844V2016"/>
          <ticker value="PECO"/>
        </identifiers>
        <balance>55725</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2085229.5</valUSD>
        <pctVal>0.3382270961</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITY BANCORP INC</name>
        <lei>549300Q90ZRNUR65PL93</lei>
        <title>UNITY BANCORP INC</title>
        <cusip>913290102</cusip>
        <identifiers>
          <isin value="US9132901029"/>
          <ticker value="UNTY"/>
        </identifiers>
        <balance>13305</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>689598.15</valUSD>
        <pctVal>0.1118537695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENERSYS</name>
        <lei>7ZS3DE5PN30BYUJFWP05</lei>
        <title>ENERSYS</title>
        <cusip>29275Y102</cusip>
        <identifiers>
          <isin value="US29275Y1029"/>
          <ticker value="ENS"/>
        </identifiers>
        <balance>38885</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6755102.2</valUSD>
        <pctVal>1.0956868782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALLIENT INC</name>
        <lei>549300I2LHAWYGNBPM97</lei>
        <title>ALLIENT INC</title>
        <cusip>019330109</cusip>
        <identifiers>
          <isin value="US0193301092"/>
          <ticker value="ALNT"/>
        </identifiers>
        <balance>25603</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1512881.27</valUSD>
        <pctVal>0.2453914251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERIS BANCORP</name>
        <lei>PBJHNT51T5V6G5UQFV42</lei>
        <title>AMERIS BANCORP</title>
        <cusip>03076K108</cusip>
        <identifiers>
          <isin value="US03076K1088"/>
          <ticker value="ABCB"/>
        </identifiers>
        <balance>40189</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3134340.11</valUSD>
        <pctVal>0.5083942816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAR PACIFIC HLDGS. INC</name>
        <lei>549300BTNS7MHSHRLR55</lei>
        <title>PAR PACIFIC HLDGS. INC</title>
        <cusip>69888T207</cusip>
        <identifiers>
          <isin value="US69888T2078"/>
          <ticker value="PARR"/>
        </identifiers>
        <balance>17822</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1116370.08</valUSD>
        <pctVal>0.1810767642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPIRE INC</name>
        <lei>549300NXSY15DRY2R511</lei>
        <title>SPIRE INC</title>
        <cusip>84857L101</cusip>
        <identifiers>
          <isin value="US84857L1017"/>
          <ticker value="SR"/>
        </identifiers>
        <balance>52975</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4796356.5</valUSD>
        <pctVal>0.7779756286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BROADSTONE NET LEASE INC</name>
        <lei>549300U8D7PT70B49V21</lei>
        <title>BROADSTONE NET LEASE INC</title>
        <cusip>11135E203</cusip>
        <identifiers>
          <isin value="US11135E2037"/>
          <ticker value="BNL"/>
        </identifiers>
        <balance>89889</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1642272.03</valUSD>
        <pctVal>0.2663787846</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVEANNA HEALTHCARE HLDGS.</name>
        <lei>N/A</lei>
        <title>AVEANNA HEALTHCARE HLDGS.</title>
        <cusip>05356F105</cusip>
        <identifiers>
          <isin value="US05356F1057"/>
          <ticker value="AVAH"/>
        </identifiers>
        <balance>71134</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>458102.96</valUSD>
        <pctVal>0.0743049309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VALARIS LTD</name>
        <lei>5299008BQ9IREYWBTS30</lei>
        <title>VALARIS LTD</title>
        <cusip>G9460G101</cusip>
        <identifiers>
          <isin value="BMG9460G1015"/>
          <ticker value="VAL"/>
        </identifiers>
        <balance>59859</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5868576.36</valUSD>
        <pctVal>0.9518911663</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>N-ABLE INC</name>
        <lei>N/A</lei>
        <title>N-ABLE INC</title>
        <cusip>62878D100</cusip>
        <identifiers>
          <isin value="US62878D1000"/>
          <ticker value="NABL"/>
        </identifiers>
        <balance>142948</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>667567.16</valUSD>
        <pctVal>0.1082803126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CORECIVIC INC</name>
        <lei>529900JFA3K6PTLT8B15</lei>
        <title>CORECIVIC INC</title>
        <cusip>21871N101</cusip>
        <identifiers>
          <isin value="US21871N1019"/>
          <ticker value="CXW"/>
        </identifiers>
        <balance>25577</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>483661.07</valUSD>
        <pctVal>0.0784504915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHOALS TECHS. GRP. INC</name>
        <lei>N/A</lei>
        <title>SHOALS TECHS. GRP. INC</title>
        <cusip>82489W107</cusip>
        <identifiers>
          <isin value="US82489W1071"/>
          <ticker value="SHLS"/>
        </identifiers>
        <balance>253327</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1666891.66</valUSD>
        <pctVal>0.2703721225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HIGHPEAK ENERGY INC</name>
        <lei>549300J4RNCV140DUY76</lei>
        <title>HIGHPEAK ENERGY INC</title>
        <cusip>43114Q105</cusip>
        <identifiers>
          <isin value="US43114Q1058"/>
          <ticker value="HPK"/>
        </identifiers>
        <balance>115294</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>795528.6</valUSD>
        <pctVal>0.1290358343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="795528.600000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADVANSIX INC</name>
        <lei>5493009TPRODMCAZLF67</lei>
        <title>ADVANSIX INC</title>
        <cusip>00773T101</cusip>
        <identifiers>
          <isin value="US00773T1016"/>
          <ticker value="ASIX"/>
        </identifiers>
        <balance>1848</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>45091.2</valUSD>
        <pctVal>0.0073138547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JAKKS PACIFIC INC</name>
        <lei>549300UEF3348JRXQ295</lei>
        <title>JAKKS PACIFIC INC</title>
        <cusip>47012E403</cusip>
        <identifiers>
          <isin value="US47012E4035"/>
          <ticker value="JAKK"/>
        </identifiers>
        <balance>24487</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>487781.04</valUSD>
        <pctVal>0.0791187563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MISSION PRODUCE INC</name>
        <lei>54930016JOKVFT59L825</lei>
        <title>MISSION PRODUCE INC</title>
        <cusip>60510V108</cusip>
        <identifiers>
          <isin value="US60510V1089"/>
          <ticker value="AVO"/>
        </identifiers>
        <balance>9608</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>132206.08</valUSD>
        <pctVal>0.0214440082</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MONTE ROSA THERAPEUTICS I</name>
        <lei>N/A</lei>
        <title>MONTE ROSA THERAPEUTICS I</title>
        <cusip>61225M102</cusip>
        <identifiers>
          <isin value="US61225M1027"/>
          <ticker value="GLUE"/>
        </identifiers>
        <balance>271646</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4468576.7</valUSD>
        <pctVal>0.7248092937</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ECOVYST INC</name>
        <lei>N/A</lei>
        <title>ECOVYST INC</title>
        <cusip>27923Q109</cusip>
        <identifiers>
          <isin value="US27923Q1094"/>
          <ticker value="ECVT"/>
        </identifiers>
        <balance>15855</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>203895.3</valUSD>
        <pctVal>0.0330720984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GREEN BRICK PARTNERS INC</name>
        <lei>549300R7SCIV7FQI6T56</lei>
        <title>GREEN BRICK PARTNERS INC</title>
        <cusip>392709101</cusip>
        <identifiers>
          <isin value="US3927091013"/>
          <ticker value="GRBK"/>
        </identifiers>
        <balance>18222</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1174407.9</valUSD>
        <pctVal>0.1904905785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AXCELIS TECHS. INC</name>
        <lei>529900HF9B6NL1QG9F05</lei>
        <title>AXCELIS TECHS. INC</title>
        <cusip>054540208</cusip>
        <identifiers>
          <isin value="US0545402085"/>
          <ticker value="ACLS"/>
        </identifiers>
        <balance>49543</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4611462.44</valUSD>
        <pctVal>0.7479855575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMALGAMATED FINL. CORP</name>
        <lei>N/A</lei>
        <title>AMALGAMATED FINL. CORP</title>
        <cusip>022671101</cusip>
        <identifiers>
          <isin value="US0226711010"/>
          <ticker value="AMAL"/>
        </identifiers>
        <balance>22913</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>890628.31</valUSD>
        <pctVal>0.1444611382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INNOVAGE HOLDING CORP COM</name>
        <lei>N/A</lei>
        <title>INNOVAGE HOLDING CORP COM</title>
        <cusip>45784A104</cusip>
        <identifiers>
          <isin value="US45784A1043"/>
          <ticker value="INNV"/>
        </identifiers>
        <balance>95755</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>767955.1</valUSD>
        <pctVal>0.1245633746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HAYWARD HLDGS. INC</name>
        <lei>N/A</lei>
        <title>HAYWARD HLDGS. INC</title>
        <cusip>421298100</cusip>
        <identifiers>
          <isin value="US4212981009"/>
          <ticker value="HAYW"/>
        </identifiers>
        <balance>38405</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>513858.9</valUSD>
        <pctVal>0.0833486211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DOUBLEVERIFY HLDGS. INC</name>
        <lei>N/A</lei>
        <title>DOUBLEVERIFY HLDGS. INC</title>
        <cusip>25862V105</cusip>
        <identifiers>
          <isin value="US25862V1052"/>
          <ticker value="DV"/>
        </identifiers>
        <balance>54677</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>519431.5</valUSD>
        <pctVal>0.0842525045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOWMAN CONSULTING GRP. LT</name>
        <lei>N/A</lei>
        <title>BOWMAN CONSULTING GRP. LT</title>
        <cusip>103002101</cusip>
        <identifiers>
          <isin value="US1030021018"/>
          <ticker value="BWMN"/>
        </identifiers>
        <balance>17533</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>498638.52</valUSD>
        <pctVal>0.0808798545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIVANOVA PLC</name>
        <lei>2138001K2FX6SHK2B339</lei>
        <title>LIVANOVA PLC</title>
        <cusip>G5509L101</cusip>
        <identifiers>
          <isin value="GB00BYMT0J19"/>
          <ticker value="LIVN"/>
        </identifiers>
        <balance>13956</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>887043.36</valUSD>
        <pctVal>0.1438796544</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>PORCH GRP. INC</name>
        <lei>549300NXEI7CVW8IXQ90</lei>
        <title>PORCH GRP. INC</title>
        <cusip>733245104</cusip>
        <identifiers>
          <isin value="US7332451043"/>
          <ticker value="PRCH"/>
        </identifiers>
        <balance>91731</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>657711.27</valUSD>
        <pctVal>0.1066816736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SELECT MEDICAL HLDGS. COR</name>
        <lei>N/A</lei>
        <title>SELECT MEDICAL HLDGS. COR</title>
        <cusip>81619Q105</cusip>
        <identifiers>
          <isin value="US81619Q1058"/>
          <ticker value="SEM"/>
        </identifiers>
        <balance>106494</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1734787.26</valUSD>
        <pctVal>0.2813848823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DYNEX CAP. INC</name>
        <lei>5CIJ4S9HAEBWILA19B65</lei>
        <title>DYNEX CAP. INC</title>
        <cusip>26817Q886</cusip>
        <identifiers>
          <isin value="US26817Q8868"/>
          <ticker value="DX"/>
        </identifiers>
        <balance>100848</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1286820.48</valUSD>
        <pctVal>0.2087240537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>USA TODAY CO INC</name>
        <lei>549300JQ2PU0RI3ZBA32</lei>
        <title>USA TODAY CO INC</title>
        <cusip>36472T109</cusip>
        <identifiers>
          <isin value="US36472T1097"/>
          <ticker value="TDAY"/>
        </identifiers>
        <balance>145341</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1024654.05</valUSD>
        <pctVal>0.1662002978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTHWEST NATURAL HLDG. C</name>
        <lei>254900PSJL6ZEC8FR782</lei>
        <title>NORTHWEST NATURAL HLDG. C</title>
        <cusip>66765N105</cusip>
        <identifiers>
          <isin value="US66765N1054"/>
          <ticker value="NWN"/>
        </identifiers>
        <balance>32280</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1717941.6</valUSD>
        <pctVal>0.2786524930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELLINGTON FINL INC COM</name>
        <lei>60GS1D1R1YY5G1W7IT74</lei>
        <title>ELLINGTON FINL INC COM</title>
        <cusip>28852N109</cusip>
        <identifiers>
          <isin value="US28852N1090"/>
          <ticker value="EFC"/>
        </identifiers>
        <balance>91634</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1085862.9</valUSD>
        <pctVal>0.1761284575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1085862.900000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HBT FINL. INC</name>
        <lei>549300NTXD4Q6UK5BY66</lei>
        <title>HBT FINL. INC</title>
        <cusip>404111106</cusip>
        <identifiers>
          <isin value="US4041111067"/>
          <ticker value="HBT"/>
        </identifiers>
        <balance>24741</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>661079.52</valUSD>
        <pctVal>0.1072280084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PERDOCEO EDUCATION CORP</name>
        <lei>529900X5PCA184O9LY90</lei>
        <title>PERDOCEO EDUCATION CORP</title>
        <cusip>71363P106</cusip>
        <identifiers>
          <isin value="US71363P1066"/>
          <ticker value="PRDO"/>
        </identifiers>
        <balance>8901</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>331206.21</valUSD>
        <pctVal>0.0537221033</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>METROCITY BANKSHARES INC</name>
        <lei>549300TC6QB7YG0P6F52</lei>
        <title>METROCITY BANKSHARES INC</title>
        <cusip>59165J105</cusip>
        <identifiers>
          <isin value="US59165J1051"/>
          <ticker value="MCBS"/>
        </identifiers>
        <balance>20313</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>582373.71</valUSD>
        <pctVal>0.0944618177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOVNANIAN ENTS. INC</name>
        <lei>549300805N4EF0ROBT53</lei>
        <title>HOVNANIAN ENTS. INC</title>
        <cusip>442487401</cusip>
        <identifiers>
          <isin value="US4424874018"/>
          <ticker value="HOV"/>
        </identifiers>
        <balance>8145</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>903361.95</valUSD>
        <pctVal>0.1465265522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FASTLY INC</name>
        <lei>549300E2FZC83FJ3H565</lei>
        <title>FASTLY INC</title>
        <cusip>31188V100</cusip>
        <identifiers>
          <isin value="US31188V1008"/>
          <ticker value="FSLY"/>
        </identifiers>
        <balance>59892</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1740461.52</valUSD>
        <pctVal>0.2823052551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="620721.600000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANDWIDTH INC</name>
        <lei>549300QC70JB7MUGXM66</lei>
        <title>BANDWIDTH INC</title>
        <cusip>05988J103</cusip>
        <identifiers>
          <isin value="US05988J1034"/>
          <ticker value="BAND"/>
        </identifiers>
        <balance>5670</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>101039.4</valUSD>
        <pctVal>0.0163887298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK FIRST CORP</name>
        <lei>N/A</lei>
        <title>BANK FIRST CORP</title>
        <cusip>06211J100</cusip>
        <identifiers>
          <isin value="US06211J1007"/>
          <ticker value="BFC"/>
        </identifiers>
        <balance>5447</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>735671.82</valUSD>
        <pctVal>0.1193269822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEWMARK GRP. INC</name>
        <lei>N/A</lei>
        <title>NEWMARK GRP. INC</title>
        <cusip>65158N102</cusip>
        <identifiers>
          <isin value="US65158N1028"/>
          <ticker value="NMRK"/>
        </identifiers>
        <balance>108954</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1633220.46</valUSD>
        <pctVal>0.2649106075</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRAIL INC</name>
        <lei>2549009XSNESW3VE8024</lei>
        <title>GRAIL INC</title>
        <cusip>384747101</cusip>
        <identifiers>
          <isin value="US3847471014"/>
          <ticker value="GRAL"/>
        </identifiers>
        <balance>43966</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2272162.88</valUSD>
        <pctVal>0.3685479478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WAYSTAR HLDG. CORP</name>
        <lei>N/A</lei>
        <title>WAYSTAR HLDG. CORP</title>
        <cusip>946784105</cusip>
        <identifiers>
          <isin value="US9467841055"/>
          <ticker value="WAY"/>
        </identifiers>
        <balance>19166</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>462092.26</valUSD>
        <pctVal>0.0749520008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONCENTRA GRP. HLDGS. PAR</name>
        <lei>N/A</lei>
        <title>CONCENTRA GRP. HLDGS. PAR</title>
        <cusip>20603L102</cusip>
        <identifiers>
          <isin value="US20603L1026"/>
          <ticker value="CON"/>
        </identifiers>
        <balance>28631</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>614134.95</valUSD>
        <pctVal>0.0996135345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOVAVAX INC</name>
        <lei>529900J4GJHPEPQ23205</lei>
        <title>NOVAVAX INC</title>
        <cusip>670002401</cusip>
        <identifiers>
          <isin value="US6700024010"/>
          <ticker value="NVAX"/>
        </identifiers>
        <balance>115704</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>941830.56</valUSD>
        <pctVal>0.1527662137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="788179.920000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PCB BANCORP</name>
        <lei>549300E5CI0LZ8Q25890</lei>
        <title>PCB BANCORP</title>
        <cusip>69320M109</cusip>
        <identifiers>
          <isin value="US69320M1099"/>
          <ticker value="PCB"/>
        </identifiers>
        <balance>29821</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>670674.29</valUSD>
        <pctVal>0.1087842933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INMODE LTD</name>
        <lei>984500DD95A35E9BD358</lei>
        <title>INMODE LTD</title>
        <cusip>M5425M103</cusip>
        <identifiers>
          <isin value="IL0011595993"/>
          <ticker value="INMD"/>
        </identifiers>
        <balance>11465</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>156841.2</valUSD>
        <pctVal>0.0254398586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BLACK DIAMOND THERAPEUTIC</name>
        <lei>N/A</lei>
        <title>BLACK DIAMOND THERAPEUTIC</title>
        <cusip>09203E105</cusip>
        <identifiers>
          <isin value="US09203E1055"/>
          <ticker value="BDTX"/>
        </identifiers>
        <balance>270315</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>575770.95</valUSD>
        <pctVal>0.0933908409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THERMON GRP. HLDGS. INC</name>
        <lei>529900ZNZBBLDE77MZ38</lei>
        <title>THERMON GRP. HLDGS. INC</title>
        <cusip>88362T103</cusip>
        <identifiers>
          <isin value="US88362T1034"/>
          <ticker value="THR"/>
        </identifiers>
        <balance>20140</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1015056</valUSD>
        <pctVal>0.1646434809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REGIONAL MGT. CORP</name>
        <lei>549300S5O87W87JW4146</lei>
        <title>REGIONAL MGT. CORP</title>
        <cusip>75902K106</cusip>
        <identifiers>
          <isin value="US75902K1060"/>
          <ticker value="RM"/>
        </identifiers>
        <balance>18030</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>581467.5</valUSD>
        <pctVal>0.0943148291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUMA BIOTECH. INC</name>
        <lei>N/A</lei>
        <title>PUMA BIOTECH. INC</title>
        <cusip>74587V107</cusip>
        <identifiers>
          <isin value="US74587V1070"/>
          <ticker value="PBYI"/>
        </identifiers>
        <balance>267945</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1712168.55</valUSD>
        <pctVal>0.2777160964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LADDER CAP. CORP</name>
        <lei>549300Q6LLV2QCV67C06</lei>
        <title>LADDER CAP. CORP</title>
        <cusip>505743104</cusip>
        <identifiers>
          <isin value="US5057431042"/>
          <ticker value="LADR"/>
        </identifiers>
        <balance>106039</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1036001.03</valUSD>
        <pctVal>0.1680407936</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LANDS END INC</name>
        <lei>54930016WOL7P2P67Q43</lei>
        <title>LANDS END INC</title>
        <cusip>51509F105</cusip>
        <identifiers>
          <isin value="US51509F1057"/>
          <ticker value="LE"/>
        </identifiers>
        <balance>21326</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>239704.24</valUSD>
        <pctVal>0.0388803578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="239704.240000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THERAVANCE BIOPHARMA INC</name>
        <lei>5493007VTSXP4Z6MIW52</lei>
        <title>THERAVANCE BIOPHARMA INC</title>
        <cusip>G8807B106</cusip>
        <identifiers>
          <isin value="KYG8807B1068"/>
          <ticker value="TBPH"/>
        </identifiers>
        <balance>9060</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>147043.8</valUSD>
        <pctVal>0.0238507068</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>STAR BULK CARRIERS CORP</name>
        <lei>549300SO3FMK7H6DDY54</lei>
        <title>STAR BULK CARRIERS CORP</title>
        <cusip>Y8162K204</cusip>
        <identifiers>
          <isin value="MHY8162K2046"/>
          <ticker value="SBLK"/>
        </identifiers>
        <balance>6684</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>153531.48</valUSD>
        <pctVal>0.0249030175</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="153531.480000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TACTILE SYS. TECH. INC</name>
        <lei>54930069VDTITHOTKJ98</lei>
        <title>TACTILE SYS. TECH. INC</title>
        <cusip>87357P100</cusip>
        <identifiers>
          <isin value="US87357P1003"/>
          <ticker value="TCMD"/>
        </identifiers>
        <balance>20216</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>528244.08</valUSD>
        <pctVal>0.0856819171</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NT BUTTERFIELD &amp;</name>
        <lei>549300V8RVM0EMTDPF28</lei>
        <title>BANK OF NT BUTTERFIELD &amp;</title>
        <cusip>G0772R208</cusip>
        <identifiers>
          <isin value="BMG0772R2087"/>
          <ticker value="NTB"/>
        </identifiers>
        <balance>40549</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2128011.52</valUSD>
        <pctVal>0.3451663987</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>CERTARA INC</name>
        <lei>N/A</lei>
        <title>CERTARA INC</title>
        <cusip>15687V109</cusip>
        <identifiers>
          <isin value="US15687V1098"/>
          <ticker value="CERT"/>
        </identifiers>
        <balance>53480</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>304836</valUSD>
        <pctVal>0.0494448189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RILEY EXPLORATION PERMIAN</name>
        <lei>5493008CUBI02XP43Q95</lei>
        <title>RILEY EXPLORATION PERMIAN</title>
        <cusip>76665T102</cusip>
        <identifiers>
          <isin value="US76665T1025"/>
          <ticker value="REPX"/>
        </identifiers>
        <balance>35329</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1287742.05</valUSD>
        <pctVal>0.2088735337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXPRO GRP. HLDGS. NV</name>
        <lei>724500LJYA8QIT73H017</lei>
        <title>EXPRO GRP. HLDGS. NV</title>
        <cusip>N3144W105</cusip>
        <identifiers>
          <isin value="NL0010556684"/>
          <ticker value="XPRO"/>
        </identifiers>
        <balance>180169</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3136742.29</valUSD>
        <pctVal>0.5087839185</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>PTC THERAPEUTICS INC</name>
        <lei>549300UJLWOIWFDGB318</lei>
        <title>PTC THERAPEUTICS INC</title>
        <cusip>69366J200</cusip>
        <identifiers>
          <isin value="US69366J2006"/>
          <ticker value="PTCT"/>
        </identifiers>
        <balance>7935</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>540611.55</valUSD>
        <pctVal>0.0876879378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRAHAM HLDGS. CO</name>
        <lei>529900BOSCEEEMAFQJ29</lei>
        <title>GRAHAM HLDGS. CO</title>
        <cusip>384637104</cusip>
        <identifiers>
          <isin value="US3846371041"/>
          <ticker value="GHC"/>
        </identifiers>
        <balance>553</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>584664.78</valUSD>
        <pctVal>0.0948334324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRST BANK/HAMILTON NJ</name>
        <lei>549300YS4CB1171BRJ08</lei>
        <title>FIRST BANK/HAMILTON NJ</title>
        <cusip>31931U102</cusip>
        <identifiers>
          <isin value="US31931U1025"/>
          <ticker value="FRBA"/>
        </identifiers>
        <balance>37656</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>602496</valUSD>
        <pctVal>0.0977256808</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STRATA CRITICAL MEDICAL</name>
        <lei>N/A</lei>
        <title>STRATA CRITICAL MEDICAL</title>
        <cusip>092667104</cusip>
        <identifiers>
          <isin value="US0926671043"/>
          <ticker value="SRTA"/>
        </identifiers>
        <balance>107997</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>451427.46</valUSD>
        <pctVal>0.0732221556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="446783.480000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BORR DRILLING LTD</name>
        <lei>213800J2JPCTXLHQ5R78</lei>
        <title>BORR DRILLING LTD</title>
        <cusip>G1466R173</cusip>
        <identifiers>
          <isin value="BMG1466R1732"/>
          <ticker value="BORR"/>
        </identifiers>
        <balance>153731</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>887027.87</valUSD>
        <pctVal>0.1438771419</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>USCB FINL. HLDGS. INC</name>
        <lei>N/A</lei>
        <title>USCB FINL. HLDGS. INC</title>
        <cusip>90355N101</cusip>
        <identifiers>
          <isin value="US90355N1019"/>
          <ticker value="USCB"/>
        </identifiers>
        <balance>30805</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>571124.7</valUSD>
        <pctVal>0.0926372127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PHINIA INC</name>
        <lei>254900HG6MORZE1FFM18</lei>
        <title>PHINIA INC</title>
        <cusip>71880K101</cusip>
        <identifiers>
          <isin value="US71880K1016"/>
          <ticker value="PHIN"/>
        </identifiers>
        <balance>13179</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>901970.76</valUSD>
        <pctVal>0.1463008992</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIEBOLD NIXDORF INC</name>
        <lei>549300XZK6EWDBAZSY16</lei>
        <title>DIEBOLD NIXDORF INC</title>
        <cusip>253651202</cusip>
        <identifiers>
          <isin value="US2536512021"/>
          <ticker value="DBD"/>
        </identifiers>
        <balance>39677</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2993232.88</valUSD>
        <pctVal>0.4855064946</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASTRAZENECA PLC</name>
        <lei>N/A</lei>
        <title>ASTRAZENECA PLC</title>
        <cusip>451CVR021</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="NT_ID" value="1AZKKKU"/>
        </identifiers>
        <balance>28202</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="RIGHT"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN EAGLE OUTFITTERS</name>
        <lei>5299001Z9HXK01DHW793</lei>
        <title>AMERICAN EAGLE OUTFITTERS</title>
        <cusip>02553E106</cusip>
        <identifiers>
          <isin value="US02553E1064"/>
          <ticker value="AEO"/>
        </identifiers>
        <balance>74998</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1252466.6</valUSD>
        <pctVal>0.2031518071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASTEC INDS. INC</name>
        <lei>5493002DO2QKHLKB2A48</lei>
        <title>ASTEC INDS. INC</title>
        <cusip>046224101</cusip>
        <identifiers>
          <isin value="US0462241011"/>
          <ticker value="ASTE"/>
        </identifiers>
        <balance>13764</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>741053.76</valUSD>
        <pctVal>0.1201999403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VERIS RESIDENTIAL INC</name>
        <lei>254900KTVBRYJCQU2J23</lei>
        <title>VERIS RESIDENTIAL INC</title>
        <cusip>554489104</cusip>
        <identifiers>
          <isin value="US5544891048"/>
          <ticker value="VRE"/>
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        <balance>41805</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>788860.35</valUSD>
        <pctVal>0.1279542350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMMERCIAL METALS CO</name>
        <lei>549300OQS2LO07ZJ7N73</lei>
        <title>COMMERCIAL METALS CO</title>
        <cusip>201723103</cusip>
        <identifiers>
          <isin value="US2017231034"/>
          <ticker value="CMC"/>
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        <balance>129352</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7946093.36</valUSD>
        <pctVal>1.2888672843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MDU RES. GRP. INC</name>
        <lei>549300MA0UV6AI6SNV27</lei>
        <title>MDU RES. GRP. INC</title>
        <cusip>552690109</cusip>
        <identifiers>
          <isin value="US5526901096"/>
          <ticker value="MDU"/>
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        <balance>31152</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>645469.44</valUSD>
        <pctVal>0.1046960319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="229992.000000000000"/>
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      <invstOrSec>
        <name>ARTIVION INC</name>
        <lei>549300YTKV8DMSMG6K81</lei>
        <title>ARTIVION INC</title>
        <cusip>228903100</cusip>
        <identifiers>
          <isin value="US2289031005"/>
          <ticker value="AORT"/>
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        <balance>14538</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>532381.56</valUSD>
        <pctVal>0.0863530221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTEGRA LIFESCIENCES HLDG</name>
        <lei>WB7IJCYY8YFTENS4O147</lei>
        <title>INTEGRA LIFESCIENCES HLDG</title>
        <cusip>457985208</cusip>
        <identifiers>
          <isin value="US4579852082"/>
          <ticker value="IART"/>
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        <balance>72338</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>681423.96</valUSD>
        <pctVal>0.1105279046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="367182.180000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>PC CONNECTION INC</name>
        <lei>5299005WPRNIXDV2KM73</lei>
        <title>PC CONNECTION INC</title>
        <cusip>69318J100</cusip>
        <identifiers>
          <isin value="US69318J1007"/>
          <ticker value="CNXN"/>
        </identifiers>
        <balance>72221</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4222039.66</valUSD>
        <pctVal>0.6848206464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAUCH CORPORATION</name>
        <lei>254900SMQY98VFKNCC32</lei>
        <title>DAUCH CORPORATION</title>
        <cusip>024061103</cusip>
        <identifiers>
          <isin value="US0240611030"/>
          <ticker value="DCH"/>
        </identifiers>
        <balance>478679</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2838566.47</valUSD>
        <pctVal>0.4604193900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMMUNITY HEALTH SYS. INC</name>
        <lei>549300BQWM4WENQ3YW73</lei>
        <title>COMMUNITY HEALTH SYS. INC</title>
        <cusip>203668108</cusip>
        <identifiers>
          <isin value="US2036681086"/>
          <ticker value="CYH"/>
        </identifiers>
        <balance>186842</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>549315.48</valUSD>
        <pctVal>0.0890997272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRUSTMARK CORP</name>
        <lei>5493000HPQ4D2RZ79739</lei>
        <title>TRUSTMARK CORP</title>
        <cusip>898402102</cusip>
        <identifiers>
          <isin value="US8984021027"/>
          <ticker value="TRMK"/>
        </identifiers>
        <balance>29617</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1248060.38</valUSD>
        <pctVal>0.2024371121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GATX CORP</name>
        <lei>549300IHYHCQP2PIR591</lei>
        <title>GATX CORP</title>
        <cusip>361448103</cusip>
        <identifiers>
          <isin value="US3614481030"/>
          <ticker value="GATX"/>
        </identifiers>
        <balance>32184</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5495096.16</valUSD>
        <pctVal>0.8913121636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MERCANTILE BANK CORP</name>
        <lei>P16VZZCKTJ5IONL6XE37</lei>
        <title>MERCANTILE BANK CORP</title>
        <cusip>587376104</cusip>
        <identifiers>
          <isin value="US5873761044"/>
          <ticker value="MBWM"/>
        </identifiers>
        <balance>13072</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>660136</valUSD>
        <pctVal>0.1070749682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DAILY JOURNAL CORP</name>
        <lei>2549004ASTNVLR8YWZ33</lei>
        <title>DAILY JOURNAL CORP</title>
        <cusip>233912104</cusip>
        <identifiers>
          <isin value="US2339121046"/>
          <ticker value="DJCO"/>
        </identifiers>
        <balance>1375</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>663217.5</valUSD>
        <pctVal>0.1075747917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="136019.880000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DHT HLDGS. INC</name>
        <lei>549300SMD6IVZYT74K40</lei>
        <title>DHT HLDGS. INC</title>
        <cusip>Y2065G121</cusip>
        <identifiers>
          <isin value="MHY2065G1219"/>
          <ticker value="DHT"/>
        </identifiers>
        <balance>321421</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5872361.67</valUSD>
        <pctVal>0.9525051488</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>HERITAGE INS. HLDGS. INC</name>
        <lei>9845008CCYDD87F66B45</lei>
        <title>HERITAGE INS. HLDGS. INC</title>
        <cusip>42727J102</cusip>
        <identifiers>
          <isin value="US42727J1025"/>
          <ticker value="HRTG"/>
        </identifiers>
        <balance>33486</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>879007.5</valUSD>
        <pctVal>0.1425762268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VAREX IMAGING CORP</name>
        <lei>549300CWYWPVCT8E9W67</lei>
        <title>VAREX IMAGING CORP</title>
        <cusip>92214X106</cusip>
        <identifiers>
          <isin value="US92214X1063"/>
          <ticker value="VREX"/>
        </identifiers>
        <balance>48977</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>519645.97</valUSD>
        <pctVal>0.0842872919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONCENTRIX CORP</name>
        <lei>5493000EAJN1KMPVA737</lei>
        <title>CONCENTRIX CORP</title>
        <cusip>20602D101</cusip>
        <identifiers>
          <isin value="US20602D1019"/>
          <ticker value="CNXC"/>
        </identifiers>
        <balance>10672</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>291985.92</valUSD>
        <pctVal>0.0473605183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="291985.920000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CBL &amp; ASSOC. PROPS. INC</name>
        <lei>529900EIVFBRS4PUBZ13</lei>
        <title>CBL &amp; ASSOC. PROPS. INC</title>
        <cusip>124830878</cusip>
        <identifiers>
          <isin value="US1248308785"/>
          <ticker value="CBL"/>
        </identifiers>
        <balance>16187</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>622066.41</valUSD>
        <pctVal>0.1009000283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOWARD HUGHES HLDGS. INC</name>
        <lei>254900TY494BHXIU6M60</lei>
        <title>HOWARD HUGHES HLDGS. INC</title>
        <cusip>44267T102</cusip>
        <identifiers>
          <isin value="US44267T1025"/>
          <ticker value="HHH"/>
        </identifiers>
        <balance>7411</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>468819.86</valUSD>
        <pctVal>0.0760432268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="50608.000000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONTRA CHINOOK THERAPE</name>
        <lei>549300X0O3003W5QYQ48</lei>
        <title>CONTRA CHINOOK THERAPE</title>
        <cusip>169CVR016</cusip>
        <identifiers>
          <isin value="US169CVR0169"/>
        </identifiers>
        <balance>89437</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PACS GRP. INC</name>
        <lei>N/A</lei>
        <title>PACS GRP. INC</title>
        <cusip>69380Q107</cusip>
        <identifiers>
          <isin value="US69380Q1076"/>
          <ticker value="PACS"/>
        </identifiers>
        <balance>15316</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>491949.92</valUSD>
        <pctVal>0.0797949544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUDSON TECHS. INC</name>
        <lei>N/A</lei>
        <title>HUDSON TECHS. INC</title>
        <cusip>444144109</cusip>
        <identifiers>
          <isin value="US4441441098"/>
          <ticker value="HDSN"/>
        </identifiers>
        <balance>92577</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>544352.76</valUSD>
        <pctVal>0.0882947672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XENCOR INC</name>
        <lei>549300V5IF65437JKG30</lei>
        <title>XENCOR INC</title>
        <cusip>98401F105</cusip>
        <identifiers>
          <isin value="US98401F1057"/>
          <ticker value="XNCR"/>
        </identifiers>
        <balance>45021</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>542953.26</valUSD>
        <pctVal>0.0880677664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITIL CORP</name>
        <lei>N/A</lei>
        <title>UNITIL CORP</title>
        <cusip>913259107</cusip>
        <identifiers>
          <isin value="US9132591077"/>
          <ticker value="UTL"/>
        </identifiers>
        <balance>39312</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2053658.88</valUSD>
        <pctVal>0.3331062981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KITE REALTY GRP. TRUST</name>
        <lei>N/A</lei>
        <title>KITE REALTY GRP. TRUST</title>
        <cusip>49803T300</cusip>
        <identifiers>
          <isin value="US49803T3005"/>
          <ticker value="KRG"/>
        </identifiers>
        <balance>27061</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>664347.55</valUSD>
        <pctVal>0.1077580874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXA RES. SA</name>
        <lei>549300QRMRHM7GAU7L47</lei>
        <title>NEXA RES. SA</title>
        <cusip>L67359106</cusip>
        <identifiers>
          <isin value="LU1701428291"/>
          <ticker value="NEXA"/>
        </identifiers>
        <balance>66861</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>708057.99</valUSD>
        <pctVal>0.1148479809</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>METROPOLITAN BANK HLDG. C</name>
        <lei>N/A</lei>
        <title>METROPOLITAN BANK HLDG. C</title>
        <cusip>591774104</cusip>
        <identifiers>
          <isin value="US5917741044"/>
          <ticker value="MCB"/>
        </identifiers>
        <balance>10329</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>860302.41</valUSD>
        <pctVal>0.1395422355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY ENERGY INC</name>
        <lei>N/A</lei>
        <title>LIBERTY ENERGY INC</title>
        <cusip>53115L104</cusip>
        <identifiers>
          <isin value="US53115L1044"/>
          <ticker value="LBRT"/>
        </identifiers>
        <balance>44465</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1280592</valUSD>
        <pctVal>0.2077137857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INVENTRUST PROPS. CORP</name>
        <lei>5493006BQYSOBYVUFA03</lei>
        <title>INVENTRUST PROPS. CORP</title>
        <cusip>46124J201</cusip>
        <identifiers>
          <isin value="US46124J2015"/>
          <ticker value="IVT"/>
        </identifiers>
        <balance>19220</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>585441.2</valUSD>
        <pctVal>0.0949593688</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QUIDELORTHO CORP</name>
        <lei>549300YU8CMO9HF53113</lei>
        <title>QUIDELORTHO CORP</title>
        <cusip>219798105</cusip>
        <identifiers>
          <isin value="US2197981051"/>
          <ticker value="QDEL"/>
        </identifiers>
        <balance>19097</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>313763.71</valUSD>
        <pctVal>0.0508929058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HIPPO HLDGS. INC</name>
        <lei>N/A</lei>
        <title>HIPPO HLDGS. INC</title>
        <cusip>433539202</cusip>
        <identifiers>
          <isin value="US4335392027"/>
          <ticker value="HIPO"/>
        </identifiers>
        <balance>19912</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>518906.72</valUSD>
        <pctVal>0.0841673845</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OMNIAB INC EARNOUT $15.00</name>
        <lei>N/A</lei>
        <title>OMNIAB INC EARNOUT $15.00</title>
        <cusip>68218J301</cusip>
        <identifiers>
          <isin value="US68218J3014"/>
          <ticker value="2200964D"/>
        </identifiers>
        <balance>6939</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WORTHINGTON STEEL INC</name>
        <lei>2549009ZUUWL3QLK6G24</lei>
        <title>WORTHINGTON STEEL INC</title>
        <cusip>982104101</cusip>
        <identifiers>
          <isin value="US9821041012"/>
          <ticker value="WS"/>
        </identifiers>
        <balance>22286</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>676380.1</valUSD>
        <pctVal>0.1097097836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAFE BULKERS INC</name>
        <lei>549300V6ZM2HJJYQQO85</lei>
        <title>SAFE BULKERS INC</title>
        <cusip>Y7388L103</cusip>
        <identifiers>
          <isin value="MHY7388L1039"/>
          <ticker value="SB"/>
        </identifiers>
        <balance>72275</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>457500.75</valUSD>
        <pctVal>0.0742072516</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>WILLDAN GRP. INC</name>
        <lei>529900YQO0LF5VAEKN05</lei>
        <title>WILLDAN GRP. INC</title>
        <cusip>96924N100</cusip>
        <identifiers>
          <isin value="US96924N1000"/>
          <ticker value="WLDN"/>
        </identifiers>
        <balance>12954</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>991758.24</valUSD>
        <pctVal>0.1608645521</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FS BANCORP INC</name>
        <lei>N/A</lei>
        <title>FS BANCORP INC</title>
        <cusip>30263Y104</cusip>
        <identifiers>
          <isin value="US30263Y1047"/>
          <ticker value="FSBW"/>
        </identifiers>
        <balance>14594</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>563182.46</valUSD>
        <pctVal>0.0913489705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ESSENT GRP. LTD</name>
        <lei>254900QUO860OUT6ZF83</lei>
        <title>ESSENT GRP. LTD</title>
        <cusip>G3198U102</cusip>
        <identifiers>
          <isin value="BMG3198U1027"/>
          <ticker value="ESNT"/>
        </identifiers>
        <balance>50667</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2960979.48</valUSD>
        <pctVal>0.4802749488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STOCK YARDS BANCORP INC</name>
        <lei>549300YERP9H5TDIQW16</lei>
        <title>STOCK YARDS BANCORP INC</title>
        <cusip>861025104</cusip>
        <identifiers>
          <isin value="US8610251048"/>
          <ticker value="SYBT"/>
        </identifiers>
        <balance>9070</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>601250.3</valUSD>
        <pctVal>0.0975236265</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTRUS ENERGY CORP</name>
        <lei>549300G6VDK9G8276661</lei>
        <title>CENTRUS ENERGY CORP</title>
        <cusip>15643U104</cusip>
        <identifiers>
          <isin value="US15643U1043"/>
          <ticker value="LEU"/>
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        <balance>5063</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>878886.17</valUSD>
        <pctVal>0.1425565469</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="878886.170000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>NICOLET BANKSHARES INC</name>
        <lei>N/A</lei>
        <title>NICOLET BANKSHARES INC</title>
        <cusip>65406E102</cusip>
        <identifiers>
          <isin value="US65406E1029"/>
          <ticker value="NIC"/>
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        <balance>5093</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>756921.66</valUSD>
        <pctVal>0.1227737355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CARS.COM INC</name>
        <lei>5493002G6J07LNGX4M98</lei>
        <title>CARS.COM INC</title>
        <cusip>14575E105</cusip>
        <identifiers>
          <isin value="US14575E1055"/>
          <ticker value="CARS"/>
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        <balance>101055</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>820566.6</valUSD>
        <pctVal>0.1330970324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="679936.320000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST BUSINESS FINL. SERV</name>
        <lei>549300BXKLW2T50TKU95</lei>
        <title>FIRST BUSINESS FINL. SERV</title>
        <cusip>319390100</cusip>
        <identifiers>
          <isin value="US3193901002"/>
          <ticker value="FBIZ"/>
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        <balance>13457</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>725736.01</valUSD>
        <pctVal>0.1177153801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEOGENOMICS INC</name>
        <lei>549300KN62PPGHBVXB46</lei>
        <title>NEOGENOMICS INC</title>
        <cusip>64049M209</cusip>
        <identifiers>
          <isin value="US64049M2098"/>
          <ticker value="NEO"/>
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        <balance>108194</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>802799.48</valUSD>
        <pctVal>0.1302151811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DNOW INC</name>
        <lei>549300AVH5SOCFVVDW91</lei>
        <title>DNOW INC</title>
        <cusip>67011P100</cusip>
        <identifiers>
          <isin value="US67011P1003"/>
          <ticker value="DNOW"/>
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        <balance>38750</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>461512.5</valUSD>
        <pctVal>0.0748579630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KIMBALL ELECTNCS. INC</name>
        <lei>549300COBYN2GZCBIU87</lei>
        <title>KIMBALL ELECTNCS. INC</title>
        <cusip>49428J109</cusip>
        <identifiers>
          <isin value="US49428J1097"/>
          <ticker value="KE"/>
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        <balance>19616</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>464703.04</valUSD>
        <pctVal>0.0753754730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SURGERY PARTNERS INC</name>
        <lei>549300LC82HG33S19I03</lei>
        <title>SURGERY PARTNERS INC</title>
        <cusip>86881A100</cusip>
        <identifiers>
          <isin value="US86881A1007"/>
          <ticker value="SGRY"/>
        </identifiers>
        <balance>32524</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>387686.08</valUSD>
        <pctVal>0.0628832160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="23959.200000000000"/>
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      <invstOrSec>
        <name>DXC TECH. CO</name>
        <lei>549300DOVZ3EDJB7O259</lei>
        <title>DXC TECH. CO</title>
        <cusip>23355L106</cusip>
        <identifiers>
          <isin value="US23355L1061"/>
          <ticker value="DXC"/>
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        <balance>37642</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>473159.94</valUSD>
        <pctVal>0.0767471938</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRIGHTHOUSE FINL. INC</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>BRIGHTHOUSE FINL. INC</title>
        <cusip>10922N103</cusip>
        <identifiers>
          <isin value="US10922N1037"/>
          <ticker value="BHF"/>
        </identifiers>
        <balance>9512</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>569578.56</valUSD>
        <pctVal>0.0923864267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NATIONAL VISION HLDGS. IN</name>
        <lei>549300JHURCBLI5ROA42</lei>
        <title>NATIONAL VISION HLDGS. IN</title>
        <cusip>63845R107</cusip>
        <identifiers>
          <isin value="US63845R1077"/>
          <ticker value="EYE"/>
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        <balance>23397</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>605982.3</valUSD>
        <pctVal>0.0982911635</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CNX RES. CORP</name>
        <lei>549300JK3KH8PWM3B226</lei>
        <title>CNX RES. CORP</title>
        <cusip>12653C108</cusip>
        <identifiers>
          <isin value="US12653C1080"/>
          <ticker value="CNX"/>
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        <balance>140068</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5399621.4</valUSD>
        <pctVal>0.8758260260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ABCELLERA BIOLOGICS INC</name>
        <lei>9845000861BC95FF9F73</lei>
        <title>ABCELLERA BIOLOGICS INC</title>
        <cusip>00288U106</cusip>
        <identifiers>
          <isin value="CA00288U1066"/>
          <ticker value="ABCL"/>
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        <balance>123712</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>431754.88</valUSD>
        <pctVal>0.0700312360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="431754.880000000000"/>
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      <invstOrSec>
        <name>ENACT HLDGS. INC</name>
        <lei>9845003CA5664B741N19</lei>
        <title>ENACT HLDGS. INC</title>
        <cusip>29249E109</cusip>
        <identifiers>
          <isin value="US29249E1091"/>
          <ticker value="ACT"/>
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        <balance>5816</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>237350.96</valUSD>
        <pctVal>0.0384986525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GIGACLOUD TECH. INC</name>
        <lei>N/A</lei>
        <title>GIGACLOUD TECH. INC</title>
        <cusip>G38644103</cusip>
        <identifiers>
          <isin value="KYG386441037"/>
          <ticker value="GCT"/>
        </identifiers>
        <balance>83579</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3792815.02</valUSD>
        <pctVal>0.6151998187</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>
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      </invstOrSec>
      <invstOrSec>
        <name>OMNIAB INC EARNOUT $12.50</name>
        <lei>N/A</lei>
        <title>OMNIAB INC EARNOUT $12.50</title>
        <cusip>68218J202</cusip>
        <identifiers>
          <isin value="US68218J2024"/>
          <ticker value="2200963D"/>
        </identifiers>
        <balance>6939</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0</valUSD>
        <pctVal>0.0000000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>F&amp;G ANNUITIES &amp; LIFE INC</name>
        <lei>N/A</lei>
        <title>F&amp;G ANNUITIES &amp; LIFE INC</title>
        <cusip>30190A104</cusip>
        <identifiers>
          <isin value="US30190A1043"/>
          <ticker value="FG"/>
        </identifiers>
        <balance>31166</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>789123.12</valUSD>
        <pctVal>0.1279968566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CLEARFIELD INC</name>
        <lei>529900M4S2OQ1ADPR537</lei>
        <title>CLEARFIELD INC</title>
        <cusip>18482P103</cusip>
        <identifiers>
          <isin value="US18482P1030"/>
          <ticker value="CLFD"/>
        </identifiers>
        <balance>17543</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>464363.21</valUSD>
        <pctVal>0.0753203521</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DORIAN LPG LTD</name>
        <lei>549300WP1W2WGMC7F395</lei>
        <title>DORIAN LPG LTD</title>
        <cusip>Y2106R110</cusip>
        <identifiers>
          <isin value="MHY2106R1100"/>
          <ticker value="LPG"/>
        </identifiers>
        <balance>18867</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>645251.4</valUSD>
        <pctVal>0.1046606656</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>AMPHASTAR PHARMS. INC</name>
        <lei>54930055TH0ZLSAQMJ38</lei>
        <title>AMPHASTAR PHARMS. INC</title>
        <cusip>03209R103</cusip>
        <identifiers>
          <isin value="US03209R1032"/>
          <ticker value="AMPH"/>
        </identifiers>
        <balance>3829</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>75010.11</valUSD>
        <pctVal>0.0121667431</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQUITY BANCSHARES INC</name>
        <lei>549300BPQ2EJNU4WF694</lei>
        <title>EQUITY BANCSHARES INC</title>
        <cusip>29460X109</cusip>
        <identifiers>
          <isin value="US29460X1090"/>
          <ticker value="EQBK"/>
        </identifiers>
        <balance>14224</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>631687.84</valUSD>
        <pctVal>0.1024606374</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTHEAST COMMUNITY BANCO</name>
        <lei>5493007BRYL8596Q9L26</lei>
        <title>NORTHEAST COMMUNITY BANCO</title>
        <cusip>664121100</cusip>
        <identifiers>
          <isin value="US6641211007"/>
          <ticker value="NECB"/>
        </identifiers>
        <balance>23938</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>569724.4</valUSD>
        <pctVal>0.0924100822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NOBLE CORP PLC</name>
        <lei>549300I3HBUNXO0OG954</lei>
        <title>NOBLE CORP PLC</title>
        <cusip>G65431127</cusip>
        <identifiers>
          <isin value="GB00BMXNWH07"/>
          <ticker value="NE"/>
        </identifiers>
        <balance>52528</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2577548.96</valUSD>
        <pctVal>0.4180819904</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>ARCBEST CORP</name>
        <lei>5493006S3KBNE8ZS3J23</lei>
        <title>ARCBEST CORP</title>
        <cusip>03937C105</cusip>
        <identifiers>
          <isin value="US03937C1053"/>
          <ticker value="ARCB"/>
        </identifiers>
        <balance>51386</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5054326.96</valUSD>
        <pctVal>0.8198187924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CARETRUST REIT INC</name>
        <lei>5493001NVXE2B9GPLU96</lei>
        <title>CARETRUST REIT INC</title>
        <cusip>14174T107</cusip>
        <identifiers>
          <isin value="US14174T1079"/>
          <ticker value="CTRE"/>
        </identifiers>
        <balance>92130</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3376564.5</valUSD>
        <pctVal>0.5476834112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK7 CORP COM</name>
        <lei>N/A</lei>
        <title>BANK7 CORP COM</title>
        <cusip>06652N107</cusip>
        <identifiers>
          <isin value="US06652N1072"/>
          <ticker value="BSVN"/>
        </identifiers>
        <balance>13967</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>557003.96</valUSD>
        <pctVal>0.0903468093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PROG HLDGS. INC</name>
        <lei>549300DHYTLBOVRXIG52</lei>
        <title>PROG HLDGS. INC</title>
        <cusip>74319R101</cusip>
        <identifiers>
          <isin value="US74319R1014"/>
          <ticker value="PRG"/>
        </identifiers>
        <balance>20552</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>589636.88</valUSD>
        <pctVal>0.0956399138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEFINITIVE HEALTHCARE COR</name>
        <lei>N/A</lei>
        <title>DEFINITIVE HEALTHCARE COR</title>
        <cusip>24477E103</cusip>
        <identifiers>
          <isin value="US24477E1038"/>
          <ticker value="DH"/>
        </identifiers>
        <balance>138958</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>170918.34</valUSD>
        <pctVal>0.0277231901</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIFE TIME GRP. HLDGS. INC</name>
        <lei>N/A</lei>
        <title>LIFE TIME GRP. HLDGS. INC</title>
        <cusip>53190C102</cusip>
        <identifiers>
          <isin value="US53190C1027"/>
          <ticker value="LTH"/>
        </identifiers>
        <balance>21107</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>568622.58</valUSD>
        <pctVal>0.0922313654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMBECTA CORP</name>
        <lei>549300RPG8GXVDHNXZ62</lei>
        <title>EMBECTA CORP</title>
        <cusip>29082K105</cusip>
        <identifiers>
          <isin value="US29082K1051"/>
          <ticker value="EMBC"/>
        </identifiers>
        <balance>7802</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>68969.68</valUSD>
        <pctVal>0.0111869771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FLOTEK INDS. INC</name>
        <lei>549300TF60OEK4FPPC44</lei>
        <title>FLOTEK INDS. INC</title>
        <cusip>343389409</cusip>
        <identifiers>
          <isin value="US3433894090"/>
          <ticker value="FTK"/>
        </identifiers>
        <balance>53396</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>906130.12</valUSD>
        <pctVal>0.1469755532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="25455.000000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATLANTICUS HLDGS. CORP</name>
        <lei>N/A</lei>
        <title>ATLANTICUS HLDGS. CORP</title>
        <cusip>04914Y102</cusip>
        <identifiers>
          <isin value="US04914Y1029"/>
          <ticker value="ATLC"/>
        </identifiers>
        <balance>11136</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>584305.92</valUSD>
        <pctVal>0.0947752248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOX INC</name>
        <lei>549300KQUCPD8687YS68</lei>
        <title>BOX INC</title>
        <cusip>10316T104</cusip>
        <identifiers>
          <isin value="US10316T1043"/>
          <ticker value="BOX"/>
        </identifiers>
        <balance>15601</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>368807.64</valUSD>
        <pctVal>0.0598211070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VILLAGE FARMS INTL. INC</name>
        <lei>529900TR69X5FFZ6K955</lei>
        <title>VILLAGE FARMS INTL. INC</title>
        <cusip>92707Y108</cusip>
        <identifiers>
          <isin value="CA92707Y1088"/>
          <ticker value="VFF"/>
        </identifiers>
        <balance>375264</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1065749.76</valUSD>
        <pctVal>0.1728660785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="455536.000000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACADEMY SPORTS &amp; OUTDOORS</name>
        <lei>529900HST589BD301M91</lei>
        <title>ACADEMY SPORTS &amp; OUTDOORS</title>
        <cusip>00402L107</cusip>
        <identifiers>
          <isin value="US00402L1070"/>
          <ticker value="ASO"/>
        </identifiers>
        <balance>13343</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>753212.35</valUSD>
        <pctVal>0.1221720803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA RES. CORP</name>
        <lei>5493003Q8F0T4F4YMR48</lei>
        <title>CALIFORNIA RES. CORP</title>
        <cusip>13057Q305</cusip>
        <identifiers>
          <isin value="US13057Q3056"/>
          <ticker value="CRC"/>
        </identifiers>
        <balance>69097</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4782894.34</valUSD>
        <pctVal>0.7757920477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AZENTA INC</name>
        <lei>35ZN6X1ANPH25YN32Y17</lei>
        <title>AZENTA INC</title>
        <cusip>114340102</cusip>
        <identifiers>
          <isin value="US1143401024"/>
          <ticker value="AZTA"/>
        </identifiers>
        <balance>17037</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>359991.81</valUSD>
        <pctVal>0.0583911673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SM ENERGY CO</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM ENERGY CO</title>
        <cusip>78454L100</cusip>
        <identifiers>
          <isin value="US78454L1008"/>
          <ticker value="SM"/>
        </identifiers>
        <balance>102397</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3192738.46</valUSD>
        <pctVal>0.5178665744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZIFF DAVIS INC</name>
        <lei>5493008OJYGLHD7MXA18</lei>
        <title>ZIFF DAVIS INC</title>
        <cusip>48123V102</cusip>
        <identifiers>
          <isin value="US48123V1026"/>
          <ticker value="ZD"/>
        </identifiers>
        <balance>30663</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1286619.48</valUSD>
        <pctVal>0.2086914513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAYLOR MORRISON HOME CORP</name>
        <lei>5299009UDLLGLKOOJE30</lei>
        <title>TAYLOR MORRISON HOME CORP</title>
        <cusip>87724P106</cusip>
        <identifiers>
          <isin value="US87724P1066"/>
          <ticker value="TMHC"/>
        </identifiers>
        <balance>135470</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7889772.8</valUSD>
        <pctVal>1.2797320119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CORSAIR GAMING INC</name>
        <lei>549300Y7YT18L8G0H525</lei>
        <title>CORSAIR GAMING INC</title>
        <cusip>22041X102</cusip>
        <identifiers>
          <isin value="US22041X1028"/>
          <ticker value="CRSR"/>
        </identifiers>
        <balance>83136</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>461404.8</valUSD>
        <pctVal>0.0748404939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAR HARBOR BANKSHARES</name>
        <lei>N/A</lei>
        <title>BAR HARBOR BANKSHARES</title>
        <cusip>066849100</cusip>
        <identifiers>
          <isin value="US0668491006"/>
          <ticker value="BHB"/>
        </identifiers>
        <balance>18911</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>613661.95</valUSD>
        <pctVal>0.0995368133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QCR HLDGS. INC</name>
        <lei>549300MWKWM7KWJVQO33</lei>
        <title>QCR HLDGS. INC</title>
        <cusip>74727A104</cusip>
        <identifiers>
          <isin value="US74727A1043"/>
          <ticker value="QCRH"/>
        </identifiers>
        <balance>15300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1307385</valUSD>
        <pctVal>0.2120596472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIFIRST CORP/MA</name>
        <lei>5493003XBTNWBC8UK019</lei>
        <title>UNIFIRST CORP/MA</title>
        <cusip>904708104</cusip>
        <identifiers>
          <isin value="US9047081040"/>
          <ticker value="UNF"/>
        </identifiers>
        <balance>21848</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5496738.32</valUSD>
        <pctVal>0.8915785242</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACADIA REALTY TRUST</name>
        <lei>254900C5XLB1YYJQSH07</lei>
        <title>ACADIA REALTY TRUST</title>
        <cusip>004239109</cusip>
        <identifiers>
          <isin value="US0042391096"/>
          <ticker value="AKR"/>
        </identifiers>
        <balance>28141</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>538055.92</valUSD>
        <pctVal>0.0872734111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEXAS CAP. BANCSHARES INC</name>
        <lei>549300466Q2SXRX0YM48</lei>
        <title>TEXAS CAP. BANCSHARES INC</title>
        <cusip>88224Q107</cusip>
        <identifiers>
          <isin value="US88224Q1076"/>
          <ticker value="TCBI"/>
        </identifiers>
        <balance>25649</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2433577.12</valUSD>
        <pctVal>0.3947295598</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANDERSONS INC/THE</name>
        <lei>L38MWB8MVRFV7HVJPU11</lei>
        <title>ANDERSONS INC/THE</title>
        <cusip>034164103</cusip>
        <identifiers>
          <isin value="US0341641035"/>
          <ticker value="ANDE"/>
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        <balance>122723</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8809056.94</valUSD>
        <pctVal>1.4288411652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NELNET INC</name>
        <lei>549300T6B0Q52I6OM558</lei>
        <title>NELNET INC</title>
        <cusip>64031N108</cusip>
        <identifiers>
          <isin value="US64031N1081"/>
          <ticker value="NNI"/>
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        <balance>35869</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4625666.24</valUSD>
        <pctVal>0.7502894334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EPLUS INC</name>
        <lei>529900FFY8AAFJ21NE91</lei>
        <title>EPLUS INC</title>
        <cusip>294268107</cusip>
        <identifiers>
          <isin value="US2942681071"/>
          <ticker value="PLUS"/>
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        <balance>7976</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>600194</valUSD>
        <pctVal>0.0973522932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>G-III APPAREL GRP. LTD</name>
        <lei>529900O5KABM3R3SFM87</lei>
        <title>G-III APPAREL GRP. LTD</title>
        <cusip>36237H101</cusip>
        <identifiers>
          <isin value="US36237H1014"/>
          <ticker value="GIII"/>
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        <balance>6195</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>171601.5</valUSD>
        <pctVal>0.0278339996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HNI CORP</name>
        <lei>549300SKRADLC4O5HV93</lei>
        <title>HNI CORP</title>
        <cusip>404251100</cusip>
        <identifiers>
          <isin value="US4042511000"/>
          <ticker value="HNI"/>
        </identifiers>
        <balance>2876</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>96029.64</valUSD>
        <pctVal>0.0155761398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MILLER INDS. INC/TN</name>
        <lei>549300F1O74SPUJ7UU94</lei>
        <title>MILLER INDS. INC/TN</title>
        <cusip>600551204</cusip>
        <identifiers>
          <isin value="US6005512040"/>
          <ticker value="MLR"/>
        </identifiers>
        <balance>1554</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>70784.7</valUSD>
        <pctVal>0.0114813758</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GENWORTH FINL. INC</name>
        <lei>549300EMCG286BDNKJ33</lei>
        <title>GENWORTH FINL. INC</title>
        <cusip>37247D106</cusip>
        <identifiers>
          <isin value="US37247D1063"/>
          <ticker value="GNW"/>
        </identifiers>
        <balance>294070</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2387848.4</valUSD>
        <pctVal>0.3873122984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PREFORMED LINE PRODS. CO</name>
        <lei>549300EYH53XDJID2098</lei>
        <title>PREFORMED LINE PRODS. CO</title>
        <cusip>740444104</cusip>
        <identifiers>
          <isin value="US7404441047"/>
          <ticker value="PLPC"/>
        </identifiers>
        <balance>5217</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1412502.75</valUSD>
        <pctVal>0.2291098910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PURSUIT ATTRACTIONS</name>
        <lei>549300PXU4ZW7LPO5Y40</lei>
        <title>PURSUIT ATTRACTIONS</title>
        <cusip>92552R406</cusip>
        <identifiers>
          <isin value="US92552R4065"/>
          <ticker value="PRSU"/>
        </identifiers>
        <balance>15917</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>583039.71</valUSD>
        <pctVal>0.0945698438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INSTEEL INDS. INC</name>
        <lei>52990026LKY4MOX3L174</lei>
        <title>INSTEEL INDS. INC</title>
        <cusip>45774W108</cusip>
        <identifiers>
          <isin value="US45774W1080"/>
          <ticker value="IIIN"/>
        </identifiers>
        <balance>2635</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>88562.35</valUSD>
        <pctVal>0.0143649351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORTHWESTERN ENERGY</name>
        <lei>254900N1WG46G1VMDM34</lei>
        <title>NORTHWESTERN ENERGY</title>
        <cusip>668074305</cusip>
        <identifiers>
          <isin value="US6680743050"/>
          <ticker value="NWE"/>
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        <balance>60363</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3980336.22</valUSD>
        <pctVal>0.6456160156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TRICO BANCSHARES</name>
        <lei>N/A</lei>
        <title>TRICO BANCSHARES</title>
        <cusip>896095106</cusip>
        <identifiers>
          <isin value="US8960951064"/>
          <ticker value="TCBK"/>
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        <balance>57890</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2752090.6</valUSD>
        <pctVal>0.4463928848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHSIDE BANCSHARES INC</name>
        <lei>549300TC83207VQA2K65</lei>
        <title>SOUTHSIDE BANCSHARES INC</title>
        <cusip>84470P109</cusip>
        <identifiers>
          <isin value="US84470P1093"/>
          <ticker value="SBSI"/>
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        <balance>19175</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>596150.75</valUSD>
        <pctVal>0.0966964725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVEST FINL. CORP</name>
        <lei>4WII2HCR8UEWNU03U507</lei>
        <title>UNIVEST FINL. CORP</title>
        <cusip>915271100</cusip>
        <identifiers>
          <isin value="US9152711001"/>
          <ticker value="UVSP"/>
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        <balance>31208</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1069186.08</valUSD>
        <pctVal>0.1734234544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GREENBRIER COS INC/THE</name>
        <lei>5493001GAGGFR30BP390</lei>
        <title>GREENBRIER COS INC/THE</title>
        <cusip>393657101</cusip>
        <identifiers>
          <isin value="US3936571013"/>
          <ticker value="GBX"/>
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        <balance>11105</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>584678.25</valUSD>
        <pctVal>0.0948356172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COLONY BANKCORP INC CDT-C</name>
        <lei>N/A</lei>
        <title>COLONY BANKCORP INC CDT-C</title>
        <cusip>19623P101</cusip>
        <identifiers>
          <isin value="US19623P1012"/>
          <ticker value="CBAN"/>
        </identifiers>
        <balance>34709</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>693138.73</valUSD>
        <pctVal>0.1124280564</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLD.COM INC</name>
        <lei>XP6XYFDZQGKLUMOFGT37</lei>
        <title>GOLD.COM INC</title>
        <cusip>00181T107</cusip>
        <identifiers>
          <isin value="US00181T1079"/>
          <ticker value="GOLD"/>
        </identifiers>
        <balance>16766</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>671981.28</valUSD>
        <pctVal>0.1089962889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTHERN OIL AND GAS INC</name>
        <lei>OKFF0PIZDDMNH4UCYE51</lei>
        <title>NORTHERN OIL AND GAS INC</title>
        <cusip>665531307</cusip>
        <identifiers>
          <isin value="US6655313079"/>
          <ticker value="NOG"/>
        </identifiers>
        <balance>47770</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1396317.1</valUSD>
        <pctVal>0.2264845563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOODRX HLDGS. INC</name>
        <lei>529900ATKYECI45EHV09</lei>
        <title>GOODRX HLDGS. INC</title>
        <cusip>38246G108</cusip>
        <identifiers>
          <isin value="US38246G1085"/>
          <ticker value="GDRX"/>
        </identifiers>
        <balance>215231</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>421852.76</valUSD>
        <pctVal>0.0684250985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>URBAN EDGE PROPERTIES</name>
        <lei>N/A</lei>
        <title>URBAN EDGE PROPERTIES</title>
        <cusip>91704F104</cusip>
        <identifiers>
          <isin value="US91704F1049"/>
          <ticker value="UE"/>
        </identifiers>
        <balance>91078</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1819738.44</valUSD>
        <pctVal>0.2951640806</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MARAVAI LIFESCIENCES HLDG</name>
        <lei>N/A</lei>
        <title>MARAVAI LIFESCIENCES HLDG</title>
        <cusip>56600D107</cusip>
        <identifiers>
          <isin value="US56600D1072"/>
          <ticker value="MRVI"/>
        </identifiers>
        <balance>160713</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>454817.79</valUSD>
        <pctVal>0.0737720718</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IBOTTA INC</name>
        <lei>54930026OZD4IQ7YR615</lei>
        <title>IBOTTA INC</title>
        <cusip>451051106</cusip>
        <identifiers>
          <isin value="US4510511060"/>
          <ticker value="IBTA"/>
        </identifiers>
        <balance>22964</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>688231.08</valUSD>
        <pctVal>0.1116320288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="688231.080000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NURIX THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>NURIX THERAPEUTICS INC</title>
        <cusip>67080M103</cusip>
        <identifiers>
          <isin value="US67080M1036"/>
          <ticker value="NRIX"/>
        </identifiers>
        <balance>11395</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>176622.5</valUSD>
        <pctVal>0.0286484127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIGHTSTAR LOTTERY PLC</name>
        <lei>549300UQ6KHRCZDRGZ76</lei>
        <title>BRIGHTSTAR LOTTERY PLC</title>
        <cusip>G4863A108</cusip>
        <identifiers>
          <isin value="GB00BVG7F061"/>
          <ticker value="BRSL"/>
        </identifiers>
        <balance>99651</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1269553.74</valUSD>
        <pctVal>0.2059233647</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>CRACKER BARREL OLD COUNTR</name>
        <lei>8P4PHQIUWPIECBFBW745</lei>
        <title>CRACKER BARREL OLD COUNTR</title>
        <cusip>22410J106</cusip>
        <identifiers>
          <isin value="US22410J1060"/>
          <ticker value="CBRL"/>
        </identifiers>
        <balance>13689</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>384797.79</valUSD>
        <pctVal>0.0624147314</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="384797.790000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CNO FINL. GRP. INC</name>
        <lei>11XPYHB76MPM4Y4P2897</lei>
        <title>CNO FINL. GRP. INC</title>
        <cusip>12621E103</cusip>
        <identifiers>
          <isin value="US12621E1038"/>
          <ticker value="CNO"/>
        </identifiers>
        <balance>179864</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7385215.84</valUSD>
        <pctVal>1.1978921783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VISHAY PRECISION GRP. INC</name>
        <lei>N/A</lei>
        <title>VISHAY PRECISION GRP. INC</title>
        <cusip>92835K103</cusip>
        <identifiers>
          <isin value="US92835K1034"/>
          <ticker value="VPG"/>
        </identifiers>
        <balance>20642</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>896275.64</valUSD>
        <pctVal>0.1453771429</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOPPERS HLDGS. INC</name>
        <lei>N/A</lei>
        <title>KOPPERS HLDGS. INC</title>
        <cusip>50060P106</cusip>
        <identifiers>
          <isin value="US50060P1066"/>
          <ticker value="KOP"/>
        </identifiers>
        <balance>20118</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>778164.24</valUSD>
        <pctVal>0.1262193112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TURTLE BEACH CORP</name>
        <lei>549300SZRV8U8PXSYI20</lei>
        <title>TURTLE BEACH CORP</title>
        <cusip>900450206</cusip>
        <identifiers>
          <isin value="US9004502061"/>
          <ticker value="TBCH"/>
        </identifiers>
        <balance>40003</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>405630.42</valUSD>
        <pctVal>0.0657938127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ESSENTIAL PROPS. REALTY T</name>
        <lei>2549009LXQLVYCGLZO50</lei>
        <title>ESSENTIAL PROPS. REALTY T</title>
        <cusip>29670E107</cusip>
        <identifiers>
          <isin value="US29670E1073"/>
          <ticker value="EPRT"/>
        </identifiers>
        <balance>127794</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3879825.84</valUSD>
        <pctVal>0.6293130935</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVANOS MEDICAL INC</name>
        <lei>549300YCXWOM7NEWMQ58</lei>
        <title>AVANOS MEDICAL INC</title>
        <cusip>05350V106</cusip>
        <identifiers>
          <isin value="US05350V1061"/>
          <ticker value="AVNS"/>
        </identifiers>
        <balance>12973</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>181751.73</valUSD>
        <pctVal>0.0294803809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRID DYNAMICS HLDGS. INC</name>
        <lei>9845007E77EEC65AZE29</lei>
        <title>GRID DYNAMICS HLDGS. INC</title>
        <cusip>39813G109</cusip>
        <identifiers>
          <isin value="US39813G1094"/>
          <ticker value="GDYN"/>
        </identifiers>
        <balance>10368</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>59097.6</valUSD>
        <pctVal>0.0095857121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDEN ENTERTAINMENT INC</name>
        <lei>549300P8YYCKQVJ0Y638</lei>
        <title>GOLDEN ENTERTAINMENT INC</title>
        <cusip>381013101</cusip>
        <identifiers>
          <isin value="US3810131017"/>
          <ticker value="GDEN"/>
        </identifiers>
        <balance>18470</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>492964.3</valUSD>
        <pctVal>0.0799594882</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACM RESEARCH INC</name>
        <lei>549300MCTENUWL2GJL61</lei>
        <title>ACM RESEARCH INC</title>
        <cusip>00108J109</cusip>
        <identifiers>
          <isin value="US00108J1097"/>
          <ticker value="ACMR"/>
        </identifiers>
        <balance>48727</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1917407.45</valUSD>
        <pctVal>0.3110061285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAGSEGURO DIGITAL LTD</name>
        <lei>391200VY4YW47I4HGH62</lei>
        <title>PAGSEGURO DIGITAL LTD</title>
        <cusip>G68707101</cusip>
        <identifiers>
          <isin value="KYG687071012"/>
          <ticker value="PAGS"/>
        </identifiers>
        <balance>214596</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2150251.92</valUSD>
        <pctVal>0.3487738222</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>ACNB CORP</name>
        <lei>N/A</lei>
        <title>ACNB CORP</title>
        <cusip>000868109</cusip>
        <identifiers>
          <isin value="US0008681092"/>
          <ticker value="ACNB"/>
        </identifiers>
        <balance>13604</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>651223.48</valUSD>
        <pctVal>0.1056293452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FARMLAND PARTNERS INC</name>
        <lei>549300LB188CHPZ4IL37</lei>
        <title>FARMLAND PARTNERS INC</title>
        <cusip>31154R109</cusip>
        <identifiers>
          <isin value="US31154R1095"/>
          <ticker value="FPI"/>
        </identifiers>
        <balance>26195</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>294169.85</valUSD>
        <pctVal>0.0477147547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STRATEGIC EDUCATION INC</name>
        <lei>2549002UYIM8Q5EC8H36</lei>
        <title>STRATEGIC EDUCATION INC</title>
        <cusip>86272C103</cusip>
        <identifiers>
          <isin value="US86272C1036"/>
          <ticker value="STRA"/>
        </identifiers>
        <balance>6359</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>527542.64</valUSD>
        <pctVal>0.0855681426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TIDEWATER INC</name>
        <lei>2549000JA5GRUPLMUH98</lei>
        <title>TIDEWATER INC</title>
        <cusip>88642R109</cusip>
        <identifiers>
          <isin value="US88642R1095"/>
          <ticker value="TDW"/>
        </identifiers>
        <balance>18867</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1576337.85</valUSD>
        <pctVal>0.2556841698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMNEAL PHARMS. INC</name>
        <lei>549300VV176ZO5WQHZ61</lei>
        <title>AMNEAL PHARMS. INC</title>
        <cusip>03168L105</cusip>
        <identifiers>
          <isin value="US03168L1052"/>
          <ticker value="AMRX"/>
        </identifiers>
        <balance>100542</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1249737.06</valUSD>
        <pctVal>0.2027090719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BUSINESS FIRST BANCSHARES</name>
        <lei>549300ILTC50KHDX4A08</lei>
        <title>BUSINESS FIRST BANCSHARES</title>
        <cusip>12326C105</cusip>
        <identifiers>
          <isin value="US12326C1053"/>
          <ticker value="BFST"/>
        </identifiers>
        <balance>23226</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>628031.04</valUSD>
        <pctVal>0.1018674994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ONESPAN INC</name>
        <lei>984500E502E6DC354D26</lei>
        <title>ONESPAN INC</title>
        <cusip>68287N100</cusip>
        <identifiers>
          <isin value="US68287N1000"/>
          <ticker value="OSPN"/>
        </identifiers>
        <balance>39514</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>416082.42</valUSD>
        <pctVal>0.0674891414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CRYOPORT INC</name>
        <lei>9845004D8538BT8JF626</lei>
        <title>CRYOPORT INC</title>
        <cusip>229050307</cusip>
        <identifiers>
          <isin value="US2290503075"/>
          <ticker value="CYRX"/>
        </identifiers>
        <balance>58986</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>488404.08</valUSD>
        <pctVal>0.0792198143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASTRANA HEALTH INC</name>
        <lei>5493008O4R82Q4STJ936</lei>
        <title>ASTRANA HEALTH INC</title>
        <cusip>03763A207</cusip>
        <identifiers>
          <isin value="US03763A2078"/>
          <ticker value="ASTH"/>
        </identifiers>
        <balance>22230</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>545079.6</valUSD>
        <pctVal>0.0884126617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONCRETE PUMPING HLDGS. I</name>
        <lei>N/A</lei>
        <title>CONCRETE PUMPING HLDGS. I</title>
        <cusip>206704108</cusip>
        <identifiers>
          <isin value="US2067041085"/>
          <ticker value="BBCP"/>
        </identifiers>
        <balance>97951</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>699370.14</valUSD>
        <pctVal>0.1134387997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="14280.000000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KEROS THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>KEROS THERAPEUTICS INC</title>
        <cusip>492327101</cusip>
        <identifiers>
          <isin value="US4923271013"/>
          <ticker value="KROS"/>
        </identifiers>
        <balance>37581</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>414894.24</valUSD>
        <pctVal>0.0672964170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="342979.680000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVIENT CORP</name>
        <lei>SM8L9RZYIB34LNTWO040</lei>
        <title>AVIENT CORP</title>
        <cusip>05368V106</cusip>
        <identifiers>
          <isin value="US05368V1061"/>
          <ticker value="AVNT"/>
        </identifiers>
        <balance>16094</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>584212.2</valUSD>
        <pctVal>0.0947600233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHOICEONE FINL. SERVS. IN</name>
        <lei>N/A</lei>
        <title>CHOICEONE FINL. SERVS. IN</title>
        <cusip>170386106</cusip>
        <identifiers>
          <isin value="US1703861062"/>
          <ticker value="COFS"/>
        </identifiers>
        <balance>20053</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>563890.36</valUSD>
        <pctVal>0.0914637928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASGN INC</name>
        <lei>LZBNYYCBUKY537072438</lei>
        <title>ASGN INC</title>
        <cusip>00191U102</cusip>
        <identifiers>
          <isin value="US00191U1025"/>
          <ticker value="ASGN"/>
        </identifiers>
        <balance>22387</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>866600.77</valUSD>
        <pctVal>0.1405638382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>I3 VERTICALS INC</name>
        <lei>549300944CYWVP06CJ97</lei>
        <title>I3 VERTICALS INC</title>
        <cusip>46571Y107</cusip>
        <identifiers>
          <isin value="US46571Y1073"/>
          <ticker value="IIIV"/>
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        <balance>37499</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>838477.64</valUSD>
        <pctVal>0.1360022277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MAGNOLIA OIL &amp; GAS CORP</name>
        <lei>N/A</lei>
        <title>MAGNOLIA OIL &amp; GAS CORP</title>
        <cusip>559663109</cusip>
        <identifiers>
          <isin value="US5596631094"/>
          <ticker value="MGY"/>
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        <balance>27915</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>881276.55</valUSD>
        <pctVal>0.1429442699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AXOS FINL. INC</name>
        <lei>529900D8M56422GK9O25</lei>
        <title>AXOS FINL. INC</title>
        <cusip>05465C100</cusip>
        <identifiers>
          <isin value="US05465C1009"/>
          <ticker value="AX"/>
        </identifiers>
        <balance>73666</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6268239.94</valUSD>
        <pctVal>1.0167171493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STONEX GRP. INC</name>
        <lei>549300JUF07L8VF02M60</lei>
        <title>STONEX GRP. INC</title>
        <cusip>861896108</cusip>
        <identifiers>
          <isin value="US8618961085"/>
          <ticker value="SNEX"/>
        </identifiers>
        <balance>8989.5</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>725003.18</valUSD>
        <pctVal>0.1175965141</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RELAY THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>RELAY THERAPEUTICS INC</title>
        <cusip>75943R102</cusip>
        <identifiers>
          <isin value="US75943R1023"/>
          <ticker value="RLAY"/>
        </identifiers>
        <balance>396435</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3944528.25</valUSD>
        <pctVal>0.6398079135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OTTER TAIL CORP</name>
        <lei>N/A</lei>
        <title>OTTER TAIL CORP</title>
        <cusip>689648103</cusip>
        <identifiers>
          <isin value="US6896481032"/>
          <ticker value="OTTR"/>
        </identifiers>
        <balance>31940</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2803373.8</valUSD>
        <pctVal>0.4547110904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOHL S CORP</name>
        <lei>549300JF6LPRTRJ0FH50</lei>
        <title>KOHL S CORP</title>
        <cusip>500255104</cusip>
        <identifiers>
          <isin value="US5002551043"/>
          <ticker value="KSS"/>
        </identifiers>
        <balance>61055</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>787609.5</valUSD>
        <pctVal>0.1277513454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LA-Z-BOY INC</name>
        <lei>549300WNO1WMN9ZG2519</lei>
        <title>LA-Z-BOY INC</title>
        <cusip>505336107</cusip>
        <identifiers>
          <isin value="US5053361078"/>
          <ticker value="LZB"/>
        </identifiers>
        <balance>5798</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>186347.72</valUSD>
        <pctVal>0.0302258568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HARMONIC INC</name>
        <lei>549300LRGRD8XC9BTL66</lei>
        <title>HARMONIC INC</title>
        <cusip>413160102</cusip>
        <identifiers>
          <isin value="US4131601027"/>
          <ticker value="HLIT"/>
        </identifiers>
        <balance>60275</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>541269.5</valUSD>
        <pctVal>0.0877946582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASBURY AUTOMOTIVE GRP. IN</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>ASBURY AUTOMOTIVE GRP. IN</title>
        <cusip>043436104</cusip>
        <identifiers>
          <isin value="US0434361046"/>
          <ticker value="ABG"/>
        </identifiers>
        <balance>2790</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>545193.9</valUSD>
        <pctVal>0.0884312013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PHOTRONICS INC</name>
        <lei>549300OK5JVNIBNY6F63</lei>
        <title>PHOTRONICS INC</title>
        <cusip>719405102</cusip>
        <identifiers>
          <isin value="US7194051022"/>
          <ticker value="PLAB"/>
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        <balance>198551</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8023445.91</valUSD>
        <pctVal>1.3014139744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHORE BANCSHARES INC</name>
        <lei>N/A</lei>
        <title>SHORE BANCSHARES INC</title>
        <cusip>825107105</cusip>
        <identifiers>
          <isin value="US8251071051"/>
          <ticker value="SHBI"/>
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        <balance>41878</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>782281.04</valUSD>
        <pctVal>0.1268870618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIODES INC</name>
        <lei>549300XP2X1ARVH3BX23</lei>
        <title>DIODES INC</title>
        <cusip>254543101</cusip>
        <identifiers>
          <isin value="US2545431015"/>
          <ticker value="DIOD"/>
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        <balance>33638</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2296129.88</valUSD>
        <pctVal>0.3724354282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RLJ LODGING TRUST</name>
        <lei>549300RX5I8Z6I6LDZ74</lei>
        <title>RLJ LODGING TRUST</title>
        <cusip>74965L101</cusip>
        <identifiers>
          <isin value="US74965L1017"/>
          <ticker value="RLJ"/>
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        <balance>87371</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>648292.82</valUSD>
        <pctVal>0.1051539881</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="648292.820000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>PVH CORP</name>
        <lei>123WALMHY1GZXG2YDL90</lei>
        <title>PVH CORP</title>
        <cusip>693656100</cusip>
        <identifiers>
          <isin value="US6936561009"/>
          <ticker value="PVH"/>
        </identifiers>
        <balance>19075</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1330672</valUSD>
        <pctVal>0.2158368307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MATSON INC</name>
        <lei>549300OI5H3Y0I9I4I12</lei>
        <title>MATSON INC</title>
        <cusip>57686G105</cusip>
        <identifiers>
          <isin value="US57686G1058"/>
          <ticker value="MATX"/>
        </identifiers>
        <balance>31341</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5138043.54</valUSD>
        <pctVal>0.8333977370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CUSTOMERS BANCORP INC</name>
        <lei>549300WLBCHYKZ53FN68</lei>
        <title>CUSTOMERS BANCORP INC</title>
        <cusip>23204G100</cusip>
        <identifiers>
          <isin value="US23204G1004"/>
          <ticker value="CUBI"/>
        </identifiers>
        <balance>39291</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2727188.31</valUSD>
        <pctVal>0.4423536991</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HELIX ENERGY SOLS. GRP. I</name>
        <lei>416AP2JOUTCWEGSOZW41</lei>
        <title>HELIX ENERGY SOLS. GRP. I</title>
        <cusip>42330P107</cusip>
        <identifiers>
          <isin value="US42330P1075"/>
          <ticker value="HLX"/>
        </identifiers>
        <balance>69369</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>686059.41</valUSD>
        <pctVal>0.1112797810</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARTESIAN RES. CORP</name>
        <lei>N/A</lei>
        <title>ARTESIAN RES. CORP</title>
        <cusip>043113208</cusip>
        <identifiers>
          <isin value="US0431132085"/>
          <ticker value="ARTNA"/>
        </identifiers>
        <balance>15717</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>500586.45</valUSD>
        <pctVal>0.0811958115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="3185.000000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PORTLAND GEN. ELEC. CO</name>
        <lei>GJOUP9M7C39GLSK9R870</lei>
        <title>PORTLAND GEN. ELEC. CO</title>
        <cusip>736508847</cusip>
        <identifiers>
          <isin value="US7365088472"/>
          <ticker value="POR"/>
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        <balance>82841</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4371519.57</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOUTHERN MISSOURI BANCORP</name>
        <lei>N/A</lei>
        <title>SOUTHERN MISSOURI BANCORP</title>
        <cusip>843380106</cusip>
        <identifiers>
          <isin value="US8433801060"/>
          <ticker value="SMBC"/>
        </identifiers>
        <balance>10898</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>696818.12</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROCKY BRANDS INC</name>
        <lei>5299004HQ6GCTW838N96</lei>
        <title>ROCKY BRANDS INC</title>
        <cusip>774515100</cusip>
        <identifiers>
          <isin value="US7745151008"/>
          <ticker value="RCKY"/>
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        <balance>36192</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1401354.24</valUSD>
        <pctVal>0.2273015873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KAISER ALUMINUM CORP</name>
        <lei>N/A</lei>
        <title>KAISER ALUMINUM CORP</title>
        <cusip>483007704</cusip>
        <identifiers>
          <isin value="US4830077040"/>
          <ticker value="KALU"/>
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        <balance>2154</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>259578.54</valUSD>
        <pctVal>0.0421039966</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HERCULES CAP. INC</name>
        <lei>549300UJ5OC256GR2B73</lei>
        <title>HERCULES CAP. INC</title>
        <cusip>427096508</cusip>
        <identifiers>
          <isin value="US4270965084"/>
          <ticker value="HTGC"/>
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        <balance>62437</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>922194.49</valUSD>
        <pctVal>0.1495812161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="263570.650000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DOUGLAS EMMETT INC</name>
        <lei>N/A</lei>
        <title>DOUGLAS EMMETT INC</title>
        <cusip>25960P109</cusip>
        <identifiers>
          <isin value="US25960P1093"/>
          <ticker value="DEI"/>
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        <balance>48948</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>461090.16</valUSD>
        <pctVal>0.0747894588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SALLY BEAUTY HLDGS. INC</name>
        <lei>529900VXW6E8ONDIQ271</lei>
        <title>SALLY BEAUTY HLDGS. INC</title>
        <cusip>79546E104</cusip>
        <identifiers>
          <isin value="US79546E1047"/>
          <ticker value="SBH"/>
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        <balance>14212</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>196836.2</valUSD>
        <pctVal>0.0319271027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIRTUS INV. PARTNERS INC</name>
        <lei>549300HWF93HB8BDM648</lei>
        <title>VIRTUS INV. PARTNERS INC</title>
        <cusip>92828Q109</cusip>
        <identifiers>
          <isin value="US92828Q1094"/>
          <ticker value="VRTS"/>
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        <balance>3059</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>410976.65</valUSD>
        <pctVal>0.0666609785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OPENLANE INC</name>
        <lei>5493004HKD20LBSG7D03</lei>
        <title>OPENLANE INC</title>
        <cusip>48238T109</cusip>
        <identifiers>
          <isin value="US48238T1097"/>
          <ticker value="OPLN"/>
        </identifiers>
        <balance>24024</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>700299.6</valUSD>
        <pctVal>0.1135895594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADDUS HOMECARE CORP</name>
        <lei>52990090ZT33AKPDBX62</lei>
        <title>ADDUS HOMECARE CORP</title>
        <cusip>006739106</cusip>
        <identifiers>
          <isin value="US0067391062"/>
          <ticker value="ADUS"/>
        </identifiers>
        <balance>2169</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>203126.85</valUSD>
        <pctVal>0.0329474548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OFG BANCORP</name>
        <lei>549300Q4QEXJ37LEXQ06</lei>
        <title>OFG BANCORP</title>
        <cusip>67103X102</cusip>
        <identifiers>
          <isin value="PR67103X1020"/>
          <ticker value="OFG"/>
        </identifiers>
        <balance>56701</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2294122.46</valUSD>
        <pctVal>0.3721098219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPLOYERS HLDGS. INC</name>
        <lei>N/A</lei>
        <title>EMPLOYERS HLDGS. INC</title>
        <cusip>292218104</cusip>
        <identifiers>
          <isin value="US2922181043"/>
          <ticker value="EIG"/>
        </identifiers>
        <balance>113394</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4665029.16</valUSD>
        <pctVal>0.7566741532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITEK SYS. INC</name>
        <lei>549300ABZAQ3R25XG118</lei>
        <title>MITEK SYS. INC</title>
        <cusip>606710200</cusip>
        <identifiers>
          <isin value="US6067102003"/>
          <ticker value="MITK"/>
        </identifiers>
        <balance>66800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>901800</valUSD>
        <pctVal>0.1462732017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NABORS INDS. LTD</name>
        <lei>N/A</lei>
        <title>NABORS INDS. LTD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="NBRWF"/>
          <other otherDesc="NT_ID" value="8AXDNEU"/>
        </identifiers>
        <balance>6861</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2662.07</valUSD>
        <pctVal>0.0004317914</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>N/A</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>NABORS INDS. LTD</issuerName>
                <issueTitle>NABORS INDS. LTD</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1</shareNo>
            <exercisePrice>166.666700000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-06-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>2662.07</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Northern Institutional Liquid Asset Portfolio</name>
        <lei>549300Y178DO5JBR1S04</lei>
        <title>Northern Institutional Liquid Asset Portfolio</title>
        <cusip>665279105</cusip>
        <identifiers>
          <isin value="US6652791053"/>
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        <balance>12620765.25</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12620765.25</valUSD>
        <pctVal>2.0471055016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="12620765.250000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CME</name>
        <lei>N/A</lei>
        <title>FUT. CME EMINIRUS2K JUN26</title>
        <cusip>02052FAB5</cusip>
        <identifiers>
          <isin value="US02052FAB58"/>
          <ticker value="RTYM6"/>
          <other otherDesc="NT_ID" value="9N1MF2U"/>
        </identifiers>
        <balance>139</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>17459790</valUSD>
        <pctVal>2.8320019791</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Chicago Mercantile Exchange</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Russell 2000 Index</indexName>
                <indexIdentifier>RTY</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2026-06-18</expDate>
            <notionalAmt>17459790</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-14576.3</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IMM</name>
        <lei>N/A</lei>
        <title>FUT. EMINI S&amp;P JUN26</title>
        <cusip>02052FAB5</cusip>
        <identifiers>
          <isin value="US02052FAB58"/>
          <ticker value="ESM6"/>
          <other otherDesc="NT_ID" value="9M2UNHU"/>
        </identifiers>
        <balance>12</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3942450</valUSD>
        <pctVal>0.6394708185</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>International Monetary Market</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Standard and Poor's 500 Index</indexName>
                <indexIdentifier>SPX</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2026-06-18</expDate>
            <notionalAmt>3942450</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-73453.38</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Northern Funds</ncom:nameOfApplicant>
      <ncom:signature>Randal E. Rein </ncom:signature>
      <ncom:signerName>Randal E. Rein </ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
