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      </invstOrSec>
      <invstOrSec>
        <name>AMEREN CORPORATION</name>
        <lei>XRZQ5S7HYJFPHJ78L959</lei>
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          <isin value="US0236081024"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN ELECTRIC POWER COMPANY, INC.</name>
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        <cusip>N/A</cusip>
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          <isin value="US0255371017"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN FINANCIAL GROUP, INC.</name>
        <lei>549300AFOM7IVKIU1G39</lei>
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        <cusip>N/A</cusip>
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          <isin value="US0259321042"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN HOMES 4 RENT</name>
        <lei>549300ZJUO7A58PNUW40</lei>
        <title>AMERICAN HOMES 4 RENT- A REIT</title>
        <cusip>02665T306</cusip>
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          <isin value="US02665T3068"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN STATES WATER COMPANY</name>
        <lei>529900L26LIS2V8PWM23</lei>
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          <isin value="US0298991011"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN TOWER CORPORATION</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>AMERICAN TOWER CORP REIT</title>
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          <isin value="US03027X1000"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN WATER WORKS COMPANY, INC.</name>
        <lei>549300DXHIJQMD5WFW18</lei>
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          <isin value="US0304201033"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMERISAFE, INC</name>
        <lei>2549002B4EXPBLGMNN22</lei>
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          <isin value="US03071H1005"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ANI PHARMACEUTICALS, INC.</name>
        <lei>5493000T6CXTND40YH31</lei>
        <title>ANI PHARMACEUTICALS INC COMMON STOCK</title>
        <cusip>00182C103</cusip>
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          <isin value="US00182C1036"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ANTERO MIDSTREAM CORPORATION</name>
        <lei>N/A</lei>
        <title>ANTERO MIDSTREAM CORP COMMON STOCK</title>
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          <isin value="US03676B1026"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>APTARGROUP, INC.</name>
        <lei>VNPEQDQFAA7IY1T2PX43</lei>
        <title>APTARGROUP INC COMMON STOCK</title>
        <cusip>N/A</cusip>
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          <isin value="US0383361039"/>
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        <balance>5607.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ARCHER-DANIELS-MIDLAND COMPANY.</name>
        <lei>549300LO13MQ9HYSTR83</lei>
        <title>ARCHER-DANIELS-MIDLAND CO COMMON STOCK</title>
        <cusip>N/A</cusip>
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          <isin value="US0394831020"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ASSURED GUARANTY LTD.</name>
        <lei>549300BBOQUJEPH87M14</lei>
        <title>ASSURED GUARANTY LTD COMMON STOCK</title>
        <cusip>G0585R106</cusip>
        <identifiers>
          <isin value="BMG0585R1060"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>AT&amp;T INC.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC COMMON STOCK</title>
        <cusip>00206R102</cusip>
        <identifiers>
          <isin value="US00206R1023"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ATMOS ENERGY CORPORATION</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
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        <cusip>N/A</cusip>
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        <balance>4665.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>AUTOZONE, INC.</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
        <title>AUTOZONE INC COMMON STOCK</title>
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        <balance>190.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>AVISTA CORPORATION</name>
        <lei>Q0IK63NITJD6RJ47SW96</lei>
        <title>AVISTA CORP COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BALCHEM CORPORATION</name>
        <lei>549300VR70OPMHUI3557</lei>
        <title>BALCHEM CORP COMMON STOCK</title>
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        <balance>4824.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BIOMARIN PHARMACEUTICAL INC.</name>
        <lei>NSLL8ITTRR0J5HEMR848</lei>
        <title>BIOMARIN PHARMACEUTICAL INC COMMON STOCK</title>
        <cusip>09061G101</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BJ'S WHOLESALE CLUB HOLDINGS, INC.</name>
        <lei>549300UCIWH1C93V0J03</lei>
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        <cusip>05550J101</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BLACK HILLS CORPORATION</name>
        <lei>3MGELCRSTNSAMJ962671</lei>
        <title>BLACK HILLS CORP COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>THE BOSTON BEER COMPANY, INC.</name>
        <lei>529900Q02MQ0DCQNRM58</lei>
        <title>BOSTON BEER COMPANY INC-A COMMON STOCK</title>
        <cusip>100557107</cusip>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BOX, INC.</name>
        <lei>549300KQUCPD8687YS68</lei>
        <title>BOX INC - CLASS A COMMON STOCK</title>
        <cusip>10316T104</cusip>
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          <isin value="US10316T1043"/>
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        <balance>23699.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>558111.45000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BRISTOL-MYERS SQUIBB COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CACI INTERNATIONAL INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CAL-MAINE FOODS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CALIFORNIA WATER SERVICE GROUP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CASELLA WASTE SYSTEMS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CASEY'S GENERAL STORES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CBOE GLOBAL MARKETS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CENCORA, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CENTERPOINT ENERGY, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CENTERSPACE</name>
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        <title>CENTERSPACE REIT</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CF INDUSTRIES HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>THE CHEFS' WAREHOUSE, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CHEMED CORPORATION</name>
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        <name>CHESAPEAKE UTILITIES CORPORATION</name>
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        <name>Chubb Limited</name>
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        <name>CHURCH &amp; DWIGHT CO., INC.</name>
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        <name>CLEARWAY ENERGY, INC.</name>
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        <name>THE CLOROX COMPANY</name>
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        <name>CME GROUP INC.</name>
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        <name>CMS ENERGY CORPORATION</name>
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        <name>CNX RESOURCES CORPORATION</name>
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        <title>CNX RESOURCES CORP COMMON STOCK</title>
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        <name>THE COCA-COLA COMPANY</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>COCA-COLA CO/THE COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>COCA-COLA CONSOLIDATED, INC.</name>
        <lei>57VG5X0E00X0QJU7CQ58</lei>
        <title>COCA-COLA CONSOLIDATED INC COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
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      <invstOrSec>
        <name>COLGATE-PALMOLIVE COMPANY</name>
        <lei>YMEGZFW4SBUSS5BQXF88</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Collegium Pharmaceutical, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CONSOLIDATED EDISON, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>COPT DEFENSE PROPERTIES</name>
        <lei>YY1J47X6LF9TYY8JY420</lei>
        <title>COPT DEFENSE PROPERTIES REIT</title>
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          <isin value="US22002T1088"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CROWN HOLDINGS, INC.</name>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSG SYSTEMS INTERNATIONAL, INC.</name>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CUBESMART</name>
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          <isin value="US2296631094"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DOLLAR GENERAL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Dorian LPG Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>DTE ENERGY COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>DUKE ENERGY CORPORATION</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>DYCOM INDUSTRIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ELECTRONIC ARTS INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ELME COMMUNITIES</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>EMPLOYERS HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ENACT HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ENCOMPASS HEALTH CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Energizer Holdings, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>THE ENSIGN GROUP, INC.</name>
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        <name>ENTERGY CORPORATION</name>
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        <name>EPR PROPERTIES</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>EQUITY LIFESTYLE PROPERTIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ESSENT GROUP LTD</name>
        <lei>254900QUO860OUT6ZF83</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ESSENTIAL PROPERTIES REALTY TRUST, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Essential Utilities, Inc.</name>
        <lei>549300ILTEOF3E3QY357</lei>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Evergy, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Eversource Energy</name>
        <lei>SJ7XXD41SQU3ZNWUJ746</lei>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EXELIXIS, INC.</name>
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          <isin value="US30161Q1040"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EXELON CORPORATION</name>
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          <isin value="US30161N1019"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EZCORP, INC.</name>
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          <isin value="US3023011063"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>F&amp;G ANNUITIES &amp; LIFE, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FIDELITY NATIONAL FINANCIAL, INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FIRSTCASH HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FIRSTENERGY CORP.</name>
        <lei>549300SVYJS666PQJH88</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FLOWERS FOODS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FOUR CORNERS PROPERTY TRUST, INC.</name>
        <lei>549300SVTPZPBDVNER42</lei>
        <title>FOUR CORNERS PROPERTY TRUST REIT</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FRANKLIN BSP REALTY TRUST, INC.</name>
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        <title>FRANKLIN BSP REALTY TRUST IN REIT</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FRESH DEL MONTE PRODUCE INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FTI CONSULTING, INC.</name>
        <lei>549300K17GM8EQD0FQ48</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Gaming and Leisure Properties, Inc.</name>
        <lei>5493006GWRDBCZYWTM57</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GENPACT LIMITED</name>
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        <title>GENPACT LTD COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GETTY REALTY CORP.</name>
        <lei>2549000P1W5SFJWCNP90</lei>
        <title>GETTY REALTY CORP REIT</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GILEAD SCIENCES, INC.</name>
        <lei>549300WTZWR07K8MNV44</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GLOBAL NET LEASE, INC.</name>
        <lei>549300NUYANCT5SU8Z65</lei>
        <title>GLOBAL NET LEASE INC REIT</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GRAND CANYON EDUCATION, INC.</name>
        <lei>529900XFER799IYOSW74</lei>
        <title>GRAND CANYON EDUCATION INC COMMON STOCK</title>
        <cusip>38526M106</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GRAPHIC PACKAGING HOLDING COMPANY</name>
        <lei>N/A</lei>
        <title>GRAPHIC PACKAGING HOLDING CO COMMON STOCK</title>
        <cusip>388689101</cusip>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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        <name>GUIDEWIRE SOFTWARE, INC.</name>
        <lei>549300WXSG0J8IXZCK32</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>H &amp; R BLOCK, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>H2O AMERICA</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HA SUSTAINABLE INFRASTRUCTURE CAPITAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HALOZYME THERAPEUTICS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>THE HANOVER INSURANCE GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HARMONY BIOSCIENCES HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HCA HEALTHCARE, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HCI GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HEALTHCARE REALTY TRUST INCORPORATED</name>
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        <title>HEALTHCARE REALTY TRUST INC REIT</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HEALTHSTREAM, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>THE HERSHEY COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HOLOGIC, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
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        <name>HORACE MANN EDUCATORS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HORMEL FOODS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>IDACORP, INC.</name>
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        <name>INGREDION INCORPORATED</name>
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        <name>INNOVIVA, INC.</name>
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        <name>InterDigital, Inc.</name>
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        <name>INTERNATIONAL SEAWAYS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
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        <name>J &amp; J SNACK FOODS CORP.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>JACK HENRY &amp; ASSOCIATES, INC.</name>
        <lei>529900X1QS8C54W0JB21</lei>
        <title>JACK HENRY &amp; ASSOCIATES INC COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>JOHN B. SANFILIPPO &amp; SON, INC.</name>
        <lei>5299007IBEYVXKYDUX28</lei>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>JOHNSON &amp; JOHNSON</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KENVUE INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KEURIG DR PEPPER INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KIMBERLY-CLARK CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>THE KRAFT HEINZ COMPANY</name>
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        <cusip>500754106</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>THE KROGER CO.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>L3HARRIS TECHNOLOGIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LANTHEUS HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LIQUIDITY SERVICES, INC.</name>
        <lei>5299002AZ4ULSAXN0G81</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LOCKHEED MARTIN CORPORATION</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LTC PROPERTIES, INC.</name>
        <lei>549300NRZP8IJG2KY677</lei>
        <title>LTC PROPERTIES INC REIT</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MADISON SQUARE GARDEN SPORTS CORP.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Maplebear Inc</name>
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        <title>MAPLEBEAR INC COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MARKETAXESS HOLDINGS INC.</name>
        <lei>5493002U1CA1XJOVID83</lei>
        <title>MARKETAXESS HOLDINGS INC COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MARSH &amp; MCLENNAN COMPANIES, INC.</name>
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        <title>MARSH COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>THE MARZETTI COMPANY</name>
        <lei>529900X4O13HED1ZAS58</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MAXIMUS, INC.</name>
        <lei>549300DQCDS8HJ7QF202</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MCCORMICK &amp; COMPANY, INCORPORATED</name>
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        <name>MCDONALD'S CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MCKESSON CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MDU RESOURCES GROUP, INC.</name>
        <lei>N/A</lei>
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        <cusip>552690109</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MGE ENERGY, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MIDDLESEX WATER COMPANY</name>
        <lei>N/A</lei>
        <title>MIDDLESEX WATER CO COMMON STOCK</title>
        <cusip>596680108</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MOLSON COORS BEVERAGE COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
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        <name>Mondelez International, Inc.</name>
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        <name>MONSTER BEVERAGE CORPORATION</name>
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        <name>MURPHY USA INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>NATIONAL BEVERAGE CORP.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>NATIONAL FUEL GAS COMPANY</name>
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        <name>NATIONAL STORAGE AFFILIATES TRUST</name>
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        <name>NEW JERSEY RESOURCES CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>THE NEW YORK TIMES COMPANY</name>
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        <name>NewMarket Corporation</name>
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        <name>NEXTERA ENERGY, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
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        <name>NMI HOLDINGS, INC.</name>
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        <name>NNN REIT, INC.</name>
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        <name>Northrop Grumman Corporation</name>
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        <name>NORTHWEST NATURAL HOLDING COMPANY</name>
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        <name>O'Reilly Automotive, Inc.</name>
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        <name>OGE ENERGY CORP.</name>
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        <name>OLD REPUBLIC INTERNATIONAL CORPORATION</name>
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        <name>OMEGA HEALTHCARE INVESTORS, INC.</name>
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        <name>ONE GAS, INC.</name>
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        <name>OPTION CARE HEALTH, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ORMAT TECHNOLOGIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PACIRA BIOSCIENCES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PALOMAR HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PENUMBRA, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Pepsico, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Philip Morris International Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PILGRIM'S PRIDE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PINNACLE WEST CAPITAL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PLANET FITNESS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PORTLAND GENERAL ELECTRIC COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Post Holdings, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PPL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PRESTIGE CONSUMER HEALTHCARE INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PRICESMART, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
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        <name>THE PROCTER &amp; GAMBLE COMPANY</name>
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        <name>PROGRESS SOFTWARE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
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        <name>Progyny Inc</name>
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        <name>Protagonist Therapeutics Inc</name>
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        <name>QUEST DIAGNOSTICS INCORPORATED</name>
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        <name>RAYONIER INC.</name>
        <lei>HGV8VDVNL0W6SF2U9C50</lei>
        <title>RAYONIER INC REIT</title>
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        <name>RB Global Inc</name>
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        <title>RB GLOBAL INC COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>RENAISSANCERE HOLDINGS LTD.</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RENAISSANCERE HOLDINGS LTD COMMON STOCK</title>
        <cusip>G7496G103</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>REPUBLIC SERVICES, INC.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>REPUBLIC SERVICES INC COMMON STOCK</title>
        <cusip>760759100</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>REYNOLDS CONSUMER PRODUCTS INC.</name>
        <lei>894500ZQLNYY77S80A06</lei>
        <title>REYNOLDS CONSUMER PRODUCTS I COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
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        <name>RLI CORP.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ROLLINS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ROYAL GOLD, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>RYAN SPECIALTY HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SABRA HEALTH CARE REIT, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SAFETY INSURANCE GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SAUL CENTERS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SCIENCE APPLICATIONS INTERNATIONAL CORPORATION</name>
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        <title>SCIENCE APPLICATIONS INTE COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SELECTIVE INSURANCE GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SENSIENT TECHNOLOGIES CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SERVICE CORPORATION INTERNATIONAL</name>
        <lei>549300RKVM2ME20JHZ15</lei>
        <title>SERVICE CORP INTERNATIONAL COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>THE SIMPLY GOOD FOODS COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SIRIUSPOINT LTD.</name>
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        <name>SITE CENTERS CORP.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>THE SOUTHERN COMPANY</name>
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        <name>SOUTHWEST GAS HOLDINGS, INC.</name>
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        <name>Spire Inc.</name>
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        <name>SPROUTS FARMERS MARKET, INC.</name>
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        <name>STARWOOD PROPERTY TRUST, INC.</name>
        <lei>BUGSFQZERKRBFWIG5267</lei>
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        <name>N/A</name>
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        <title>STIT GOVT &amp; AGENCY INST CLASS INSTITUTIONAL</title>
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        <name>STRATEGIC EDUCATION, INC.</name>
        <lei>2549002UYIM8Q5EC8H36</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>STRIDE, INC.</name>
        <lei>254900BRWS3AFONWU277</lei>
        <title>STRIDE INC COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>STURM, RUGER &amp; COMPANY, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
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        <name>SUPERNUS PHARMACEUTICALS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SYSCO CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>T-MOBILE US, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>TETRA TECH, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>TG THERAPEUTICS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>THE CIGNA GROUP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>TOOTSIE ROLL INDUSTRIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>TYSON FOODS, INCORPORATED</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>UGI CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>UNITED THERAPEUTICS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>UNITIL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>UNIVERSAL CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>UNIVERSAL HEALTH REALTY INCOME TRUST</name>
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        <title>UNIVERSAL HEALTH RLTY INCOME REIT</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>VERIS RESIDENTIAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>VERISK ANALYTICS, INC.</name>
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        <name>VERIZON COMMUNICATIONS INC.</name>
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        <name>VERRA MOBILITY CORPORATION</name>
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        <name>VICI PROPERTIES INC.</name>
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        <name>WASTE MANAGEMENT, INC.</name>
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        <title>WASTE MANAGEMENT INC COMMON STOCK</title>
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        <fairValLevel>1</fairValLevel>
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        <name>WD-40 COMPANY</name>
        <lei>549300UZHTN0CNKBOB19</lei>
        <title>WD-40 CO COMMON STOCK</title>
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        <fairValLevel>1</fairValLevel>
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        <name>WEC ENERGY GROUP INC.</name>
        <lei>549300IGLYTZUK3PVP70</lei>
        <title>WEC ENERGY GROUP INC COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>THE WENDY'S COMPANY</name>
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        <title>WENDY'S CO/THE COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>WHITESTONE REIT</name>
        <lei>N/A</lei>
        <title>WHITESTONE REIT REIT</title>
        <cusip>966084204</cusip>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>W.P. CAREY INC.</name>
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        <identifiers>
          <isin value="US92936U1097"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>W. R. BERKLEY CORPORATION</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>WR BERKLEY CORP COMMON STOCK</title>
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          <isin value="US0844231029"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Xcel Energy Inc.</name>
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        <valUSD>890618.24000000</valUSD>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ZIMMER BIOMET HOLDINGS, INC.</name>
        <lei>2P2YLDVPES3BXQ1FRB91</lei>
        <title>ZIMMER BIOMET HOLDINGS INC COMMON STOCK</title>
        <cusip>98956P102</cusip>
        <identifiers>
          <isin value="US98956P1021"/>
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        <balance>7347.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>723238.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-02-28</ncom:dateSigned>
      <ncom:nameOfApplicant>EXCHANGE TRADED CONCEPTS TRUST</ncom:nameOfApplicant>
      <ncom:signature>Dennis Lowenfels</ncom:signature>
      <ncom:signerName>Dennis Lowenfels</ncom:signerName>
      <ncom:title>CCO</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
