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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Agree Realty Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Albertsons Cos., Inc.</name>
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        <name>U-Haul Holding Co.</name>
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        <name>American Homes 4 Rent</name>
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        <name>American States Water Co.</name>
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        <name>AMERISAFE, Inc.</name>
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        <name>Antero Midstream Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Arbutus Biopharma Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ARMOUR Residential REIT, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Armstrong World Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ArriVent Biopharma, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Arrow Electronics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Atlanta Braves Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Atlanta Braves Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Aurinia Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AvePoint, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Avista Corp.</name>
        <lei>Q0IK63NITJD6RJ47SW96</lei>
        <title>Avista Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Avnet, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BJ's Wholesale Club Holdings, Inc.</name>
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        <name>Badger Meter, Inc.</name>
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        <name>Balchem Corp.</name>
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        <name>BlackRock Funds III</name>
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        <name>BlackRock Funds III</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Barrett Business Services, Inc.</name>
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        <name>Bentley Systems, Inc.</name>
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        <name>BioMarin Pharmaceutical, Inc.</name>
        <lei>NSLL8ITTRR0J5HEMR848</lei>
        <title>BioMarin Pharmaceutical, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Blackbaud, Inc.</name>
        <lei>54930056X3HKFMNG3754</lei>
        <title>Blackbaud, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Brady Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Brink's Co. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Broadstone Net Lease, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Brookdale Senior Living, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CCC Intelligent Solutions Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CSG Systems International, Inc.</name>
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        <name>CNX Resources Corp.</name>
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        <name>Campbell's Co. (The)</name>
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        <name>Cantaloupe, Inc.</name>
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        <name>CareTrust REIT, Inc.</name>
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        <name>Sila Realty Trust, Inc.</name>
        <lei>549300HXH142HWKKSW59</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Casella Waste Systems, Inc.</name>
        <lei>8EU0XUFVJ48U37IIDH51</lei>
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      <invstOrSec>
        <name>Chemed Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Chesapeake Utilities Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Choice Hotels International, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Contra Chinook Therape</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Churchill Downs, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cinemark Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cirrus Logic, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Clean Harbors, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Clear Secure, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Clearwater Analytics Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Clearway Energy, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Coca-Cola Consolidated, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Collegium Pharmaceutical, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GPGI, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Conagra Brands, Inc.</name>
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        <name>CoreCivic, Inc.</name>
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        <name>COPT Defense Properties</name>
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        <name>Crown Holdings, Inc.</name>
        <lei>NYLWZIOY8PUNIT4JOE22</lei>
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        <name>Curbline Properties Corp.</name>
        <lei>529900PGR41LH0I81I15</lei>
        <title>Curbline Properties Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>DT Midstream, Inc.</name>
        <lei>N/A</lei>
        <title>DT Midstream, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Daily Journal Corp.</name>
        <lei>2549004ASTNVLR8YWZ33</lei>
        <title>Daily Journal Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>DaVita, Inc.</name>
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        <name>Encompass Health Corp.</name>
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        <name>Equity LifeStyle Properties, Inc.</name>
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        <name>Halozyme Therapeutics, Inc.</name>
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        <name>Horace Mann Educators Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>IMAX Corp.</name>
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        <name>InterDigital, Inc.</name>
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        <name>InvenTrust Properties Corp.</name>
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        <name>Ionis Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>iRadimed Corp.</name>
        <lei>549300YVHWP0YJ1YW816</lei>
        <title>iRadimed Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>I3 Verticals, Inc.</name>
        <lei>549300944CYWVP06CJ97</lei>
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        <name>Madison Square Garden Sports Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Marten Transport Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Match Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>McEwen, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>McGrath RentCorp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Mercury Systems, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Merit Medical Systems, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Mirum Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Mission Produce, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Molina Healthcare, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Molson Coors Beverage Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Monarch Casino &amp; Resort, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Mueller Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Murphy USA, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>N-able, Inc.</name>
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        <name>National Beverage Corp.</name>
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        <name>National HealthCare Corp.</name>
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        <name>National Fuel Gas Co.</name>
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        <name>National Health Investors, Inc.</name>
        <lei>549300ZPKZIG6DKDEC02</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>National Presto Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NNN REIT, Inc.</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>NNN REIT, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>nCino, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NetScout Systems, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NETSTREIT Corp.</name>
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        <title>NETSTREIT Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Viper Energy, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>New Jersey Resources Corp.</name>
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        <title>New Jersey Resources Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>New York Times Co. (The)</name>
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        <title>New York Times Co. (The), Class A</title>
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          <isin value="US6501111073"/>
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        <fairValLevel>1</fairValLevel>
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        <name>NewMarket Corp.</name>
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        <title>NewMarket Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Northwestern Energy Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Nuvalent, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>OGE Energy Corp.</name>
        <lei>CE5OG6JPOZMDSA0LAQ19</lei>
        <title>OGE Energy Corp.</title>
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          <isin value="US6708371033"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Old Republic International Corp.</name>
        <lei>549300IV6O2YY2A1KH37</lei>
        <title>Old Republic International Corp.</title>
        <cusip>680223104</cusip>
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        <balance>79450.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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        <name>Ollie's Bargain Outlet Holdings, Inc.</name>
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        <title>Ollie's Bargain Outlet Holdings, Inc.</title>
        <cusip>681116109</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>Omega Healthcare Investors, Inc.</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
        <title>Omega Healthcare Investors, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>ONE Gas, Inc.</name>
        <lei>549300HXDWI0LATTX840</lei>
        <title>ONE Gas, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>OPKO Health, Inc.</name>
        <lei>529900A4S2D4OGOJLL02</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Option Care Health, Inc.</name>
        <lei>549300DI3Q5ACSYJRI17</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Orchid Island Capital, Inc.</name>
        <lei>549300KBIHGT19K9DY89</lei>
        <title>Orchid Island Capital, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>PC Connection, Inc.</name>
        <lei>5299005WPRNIXDV2KM73</lei>
        <title>PC Connection, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>TXNM Energy, Inc.</name>
        <lei>5493003JOBJGLZSDDQ28</lei>
        <title>TXNM Energy, Inc.</title>
        <cusip>69349H107</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>Pacira BioSciences, Inc.</name>
        <lei>N/A</lei>
        <title>Pacira BioSciences, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Palomar Holdings, Inc.</name>
        <lei>549300DOI1MUW11BLX74</lei>
        <title>Palomar Holdings, Inc.</title>
        <cusip>69753M105</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>Palvella Therapeutics, Inc.</name>
        <lei>254900AJDH8PAOOI5T33</lei>
        <title>Palvella Therapeutics, Inc.</title>
        <cusip>697947109</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Par Pacific Holdings, Inc.</name>
        <lei>549300BTNS7MHSHRLR55</lei>
        <title>Par Pacific Holdings, Inc.</title>
        <cusip>69888T207</cusip>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Perdoceo Education Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Pilgrim's Pride Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Pinnacle West Capital Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Planet Fitness, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Portland General Electric Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Primo Brands Corp.</name>
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        <name>ProAssurance Corp.</name>
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        <name>Privia Health Group, Inc.</name>
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        <name>Progress Software Corp.</name>
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        <name>Progyny, Inc.</name>
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        <name>RLI Corp.</name>
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        <name>RBC Bearings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Reynolds Consumer Products, Inc.</name>
        <lei>894500ZQLNYY77S80A06</lei>
        <title>Reynolds Consumer Products, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Royal Gold, Inc.</name>
        <lei>5493001NGRU6SFL04184</lei>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Supernus Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TD SYNNEX Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TKO Group Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Tarsus Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Teleflex, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Tetra Tech, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Texas Roadhouse, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Tootsie Roll Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>UL Solutions, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>UniFirst Corp.</name>
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        <title>UniFirst Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Array Digital Infrastructure, Inc.</name>
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        <title>Array Digital Infrastructure, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Valvoline, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Vaxcyte, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Verra Mobility Corp.</name>
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        <name>Versant Media Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Vertex, Inc.</name>
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        <name>Viavi Solutions, Inc.</name>
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        <name>Viridian Therapeutics, Inc.</name>
        <lei>549300C775BNYF550E70</lei>
        <title>Viridian Therapeutics, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Visteon Corp.</name>
        <lei>549300MOVLYHRW4GGW78</lei>
        <title>Visteon Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Vital Farms, Inc.</name>
        <lei>549300S6NYY7ER3XOT61</lei>
        <title>Vital Farms, Inc.</title>
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        <name>Zurn Elkay Water Solutions Corp.</name>
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        <balance>3234.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>194363.40000000</valUSD>
        <pctVal>0.068492850491</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>Liberty Global Ltd.</name>
        <lei>213800HRMKKTYH7SKA24</lei>
        <title>Liberty Global Ltd., Class A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG611881019"/>
          <other otherDesc="Inhouse Asset ID" value="SBS71B311"/>
        </identifiers>
        <balance>76766.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>888950.28000000</valUSD>
        <pctVal>0.313262366385</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>Liberty Global Ltd.</name>
        <lei>213800HRMKKTYH7SKA24</lei>
        <title>Liberty Global Ltd., Class C</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG611881274"/>
          <other otherDesc="Inhouse Asset ID" value="SBS71BR56"/>
        </identifiers>
        <balance>62392.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>707525.28000000</valUSD>
        <pctVal>0.249328954022</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>RenaissanceRe Holdings Ltd.</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RenaissanceRe Holdings Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG7496G1033"/>
          <other otherDesc="Inhouse Asset ID" value="G7496G103"/>
        </identifiers>
        <balance>11994.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3681798.18000000</valUSD>
        <pctVal>1.297450303320</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>Roivant Sciences Ltd.</name>
        <lei>549300DL466NY5J6U724</lei>
        <title>Roivant Sciences Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG762791017"/>
          <other otherDesc="Inhouse Asset ID" value="SBMW4NZ91"/>
        </identifiers>
        <balance>72042.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2055358.26000000</valUSD>
        <pctVal>0.724299667579</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>Theravance Biopharma, Inc.</name>
        <lei>5493007VTSXP4Z6MIW52</lei>
        <title>Theravance Biopharma, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8807B1068"/>
          <other otherDesc="Inhouse Asset ID" value="SBMNDK095"/>
        </identifiers>
        <balance>17734.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>296867.16000000</valUSD>
        <pctVal>0.104614747456</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>White Mountains Insurance Group Ltd.</name>
        <lei>549300N3FL068JERBG02</lei>
        <title>White Mountains Insurance Group Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG9618E1075"/>
          <other otherDesc="Inhouse Asset ID" value="G9618E107"/>
        </identifiers>
        <balance>1181.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2635980.19000000</valUSD>
        <pctVal>0.928908411014</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/A</name>
        <lei>N/A</lei>
        <title>MarketAxess Holdings, Inc.</title>
        <cusip>57060D108</cusip>
        <identifiers>
          <isin value="US57060D1081"/>
          <other otherDesc="Inhouse Asset ID" value="57060D108"/>
        </identifiers>
        <balance>48.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-374.45000000</valUSD>
        <pctVal>-0.00013195461</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Bank of America N.A.</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>MarketAxess Holdings, Inc.</issueTitle>
                <identifiers>
                  <cusip value="57060D108"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="OBFR01" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2028-02-15</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>7545.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-374.45000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SiriusPoint Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG8192H1060"/>
          <other otherDesc="Inhouse Asset ID" value="SBMCQX444"/>
        </identifiers>
        <balance>14604.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9421.18000000</valUSD>
        <pctVal>0.003319984488</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Goldman Sachs</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>SiriusPoint Ltd.</issueTitle>
                <identifiers>
                  <isin value="BMG8192H1060"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="FEDL01" floatingRtSpread="0.20000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-08-18</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>341880.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>9421.18000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SiriusPoint Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG8192H1060"/>
          <other otherDesc="Inhouse Asset ID" value="SBMCQX444"/>
        </identifiers>
        <balance>13506.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2296.02000000</valUSD>
        <pctVal>0.000809107859</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>JPMorgan Chase Bank N.A.</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>SiriusPoint Ltd.</issueTitle>
                <identifiers>
                  <isin value="BMG8192H1060"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="OBFR01" floatingRtSpread="0.40000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2027-02-09</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>316175.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>2296.02000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Employers Holdings, Inc.</title>
        <cusip>292218104</cusip>
        <identifiers>
          <isin value="US2922181043"/>
          <other otherDesc="Inhouse Asset ID" value="292218104"/>
        </identifiers>
        <balance>644.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-36.11999999</valUSD>
        <pctVal>-0.00001272853</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>JPMorgan Chase Bank N.A.</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Employers Holdings, Inc.</issueTitle>
                <identifiers>
                  <cusip value="292218104"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="OBFR01" floatingRtSpread="0.40000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2027-02-09</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>27125.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-36.12000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Axis Capital Holdings Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG0692U1099"/>
          <other otherDesc="Inhouse Asset ID" value="G0692U109"/>
        </identifiers>
        <balance>104.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>140.66000000</valUSD>
        <pctVal>0.000049567996</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Bank of America N.A.</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Axis Capital Holdings Ltd.</issueTitle>
                <identifiers>
                  <isin value="BMG0692U1099"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="OBFR01" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2028-02-15</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>10443.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>140.66000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Genco Shipping &amp; Trading Ltd.</name>
        <lei>5493003MBZ5GU8QHXZ58</lei>
        <title>Genco Shipping &amp; Trading Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MHY2685T1313"/>
          <other otherDesc="Inhouse Asset ID" value="SBD087587"/>
        </identifiers>
        <balance>15052.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>364860.48000000</valUSD>
        <pctVal>0.128575309482</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>International Seaways, Inc.</name>
        <lei>549300YUFDGFRNGBWF46</lei>
        <title>International Seaways, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MHY410531021"/>
          <other otherDesc="Inhouse Asset ID" value="SBYX60M49"/>
        </identifiers>
        <balance>13983.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1159889.85000000</valUSD>
        <pctVal>0.408740339401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      
      
      
      <explntrNote note="Monthly returns presented in B.5.a have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
      
      <explntrNote note="IBORs are undergoing a change as regulators and industry groups have recommended that firms consider adoption of alternative, overnight risk-free rates (RFRs). Floating rate swap terms reflected as Libors may be using the RFR to calculate the actual rate." noteItem="C.11.f.i.2"/>
      
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>iShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort</ncom:signature>
      <ncom:signerName>Chuck Pulsfort</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
