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      <invstOrSec>
        <name>Carter's, Inc.</name>
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        <title>Carter's, Inc.</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Middlesex Water Co.</name>
        <lei>N/A</lei>
        <title>Middlesex Water Co.</title>
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          <isin value="US5966801087"/>
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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>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jackson Financial Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Preferred Bank</name>
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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>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cushman &amp; Wakefield Ltd.</name>
        <lei>N/A</lei>
        <title>Cushman &amp; Wakefield Ltd.</title>
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          <isin value="BMG2717C1064"/>
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        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Q2 Holdings, Inc.</name>
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        <title>Q2 Holdings, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NBT Bancorp Inc.</name>
        <lei>N/A</lei>
        <title>NBT Bancorp Inc.</title>
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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>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Seacoast Banking Corp. of Florida</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Cavco Industries, Inc.</name>
        <lei>N/A</lei>
        <title>Cavco Industries, Inc.</title>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Pediatrix Medical Group, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Bread Financial Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CarMax, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Balchem Corp.</name>
        <lei>549300VR70OPMHUI3557</lei>
        <title>Balchem Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>BancFirst Corp.</name>
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        <title>BancFirst Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Inspire Medical Systems, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Innovex International, Inc.</name>
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        <title>Innovex International, Inc.</title>
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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>John B. Sanfilippo &amp; Son, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Astec Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Healthcare Services Group, Inc.</name>
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        <title>Healthcare Services Group, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Metallus Inc.</name>
        <lei>549300QZTZWHDE9HJL14</lei>
        <title>Metallus Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>OSI Systems, Inc.</name>
        <lei>DDX3MPX1Y8YD30050X33</lei>
        <title>OSI Systems, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Franklin Electric Co., Inc.</name>
        <lei>RR6AURIKMXUE4Q24G284</lei>
        <title>Franklin Electric Co., Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Fortrea Holdings Inc.</name>
        <lei>5493000FIVFABOVCDU97</lei>
        <title>Fortrea Holdings Inc.</title>
        <cusip>34965K107</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Central Pacific Financial Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Corcept Therapeutics Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WaFd, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ligand Pharmaceuticals Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sezzle Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Grocery Outlet Holding Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Sprinklr, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Amphastar Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Digi International Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Photronics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Bank of Hawaii Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Walker &amp; Dunlop, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>LXP Industrial Trust</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Employers Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AZZ Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>World Acceptance Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Donnelley Financial Solutions, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Energizer Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Primoris Services Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Progress Software Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Dana Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Hanmi Financial Corp.</name>
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        <title>Hanmi Financial Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Ultra Clean Holdings, Inc.</name>
        <lei>5493007L6LS7QX18PE75</lei>
        <title>Ultra Clean Holdings, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Kohl's Corp.</name>
        <lei>549300JF6LPRTRJ0FH50</lei>
        <title>Kohl's Corp.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Yelp Inc.</name>
        <lei>5299007OU2DOSXPQBO35</lei>
        <title>Yelp Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ameris Bancorp</name>
        <lei>PBJHNT51T5V6G5UQFV42</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Simply Good Foods Co. (The)</name>
        <lei>N/A</lei>
        <title>Simply Good Foods Co. (The)</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Perrigo Co. PLC</name>
        <lei>549300IFOQS6R1QLY196</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Waystar Holding Corp.</name>
        <lei>529900QJLKXDYU36MH89</lei>
        <title>Waystar Holding Corp.</title>
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          <isin value="US9467841055"/>
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        <balance>18539.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WSFS Financial Corp.</name>
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        <title>WSFS Financial Corp.</title>
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          <isin value="US9293281021"/>
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        <balance>8565.00000000</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>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BJ's Restaurants, Inc.</name>
        <lei>5299000EOW66I1OJNQ23</lei>
        <title>BJ's Restaurants, Inc.</title>
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          <isin value="US09180C1062"/>
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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>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vir Biotechnology, Inc.</name>
        <lei>N/A</lei>
        <title>Vir Biotechnology, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Corsair Gaming, Inc.</name>
        <lei>549300Y7YT18L8G0H525</lei>
        <title>Corsair Gaming, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sylvamo Corp.</name>
        <lei>5493001AOYU1ZOWOC971</lei>
        <title>Sylvamo Corp.</title>
        <cusip>871332102</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Acadia Pharmaceuticals Inc.</name>
        <lei>529900O3044NO0PEA039</lei>
        <title>Acadia Pharmaceuticals Inc.</title>
        <cusip>004225108</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Upbound Group, Inc.</name>
        <lei>529900QUHE15UQNCCJ63</lei>
        <title>Upbound Group, Inc.</title>
        <cusip>76009N100</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Northern Oil and Gas, Inc.</name>
        <lei>OKFF0PIZDDMNH4UCYE51</lei>
        <title>Northern Oil and Gas, Inc.</title>
        <cusip>665531307</cusip>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LiveRamp Holdings, Inc.</name>
        <lei>254900GXS75LG1X7RF88</lei>
        <title>LiveRamp Holdings, Inc.</title>
        <cusip>53815P108</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Matthews International Corp.</name>
        <lei>549300ZVC5O0ATML6U61</lei>
        <title>Matthews International Corp., Class A</title>
        <cusip>577128101</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Heritage Financial Corp.</name>
        <lei>N/A</lei>
        <title>Heritage Financial Corp.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Medical Properties Trust, Inc.</name>
        <lei>254900U6E39J1MQCCY14</lei>
        <title>Medical Properties Trust, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>American Eagle Outfitters, Inc.</name>
        <lei>5299001Z9HXK01DHW793</lei>
        <title>American Eagle Outfitters, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Beacon Financial Corp.</name>
        <lei>549300AS2OC6UMMBNO37</lei>
        <title>Beacon Financial Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Asbury Automotive Group, Inc.</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>Asbury Automotive Group, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Rogers Corp.</name>
        <lei>PW0CN80KNFR7RUOOKJ84</lei>
        <title>Rogers Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>HCI Group, Inc.</name>
        <lei>549300CZF7EZJH0MPH74</lei>
        <title>HCI Group, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Neogen Corp.</name>
        <lei>549300HJT9FC36N4UW43</lei>
        <title>Neogen Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>LKQ Corp.</name>
        <lei>DS830JTTZQN6GK0I2E41</lei>
        <title>LKQ Corp.</title>
        <cusip>501889208</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>Dime Commercial Bancshares, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pitney Bowes Inc.</name>
        <lei>549300N2O26NW4ST6W55</lei>
        <title>Pitney Bowes Inc.</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>G-III Apparel Group, Ltd.</name>
        <lei>529900O5KABM3R3SFM87</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tootsie Roll Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Allegiant Travel Co.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cohu, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>EZCORP, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DXC Technology Co.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Patrick Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Lindsay Corp.</name>
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        <title>Lindsay Corp.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JetBlue Airways Corp.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Brinker International, Inc.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SiriusPoint Ltd.</name>
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        <title>SiriusPoint Ltd.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Powell Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Vishay Intertechnology, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Innospec Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>LGI Homes, Inc.</name>
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        <title>LGI Homes, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>La-Z-Boy Inc.</name>
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        <title>La-Z-Boy Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>TransMedics Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MaxLinear, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Forward Air Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NMI Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SkyWest, Inc.</name>
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        <title>SkyWest, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Trustmark Corp.</name>
        <lei>5493000HPQ4D2RZ79739</lei>
        <title>Trustmark Corp.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Amentum Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Under Armour, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MGE Energy, Inc.</name>
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        <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>U.S. Physical Therapy, 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>Millerknoll, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>First Commonwealth Financial Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Curbline Properties Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Boise Cascade Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Artivion, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Edgewell Personal Care Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Safehold Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Frontdoor, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Four Corners Property Trust, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PC Connection, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Qorvo, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Versant Media Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Insperity, Inc.</name>
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        <name>ServisFirst Bancshares, Inc.</name>
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        <name>Artisan Partners Asset Management Inc.</name>
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        <name>Shake Shack Inc.</name>
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        <name>World Kinect Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>California Resources Corp.</name>
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        <title>California Resources Corp.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Willscot Holdings Corp.</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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      <invstOrSec>
        <name>Piper Sandler Cos.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cable One, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Banner Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>H.B. Fuller Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Koppers Holdings Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Select Medical Holdings Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cal-Maine Foods, Inc.</name>
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        <title>Cal-Maine Foods, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Kennametal Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>John Wiley &amp; Sons, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Park National Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Gentherm Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Zurn Elkay Water Solutions Corp.</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>Urban Outfitters, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MarineMax, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Arcus Biosciences, Inc.</name>
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        <name>Schrodinger, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Caesars Entertainment, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Essential Properties Realty Trust, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Radian Group Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Prestige Consumer Healthcare Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Interparfums, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Newell Brands Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BGC Group, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Liquidity Services, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Korn Ferry</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Pebblebrook Hotel Trust</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UFP Technologies, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Gates Industrial Corp. PLC</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>OmniAb, Inc.</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>ANI Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Apple Hospitality REIT, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Dream Finders Homes, Inc.</name>
        <lei>N/A</lei>
        <title>Dream Finders Homes, Inc., Class A</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Simmons First National Corp.</name>
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        <title>Simmons First National Corp., Class A</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Standard Motor Products, Inc.</name>
        <lei>THGK1EO5B5HK0JHQVZ90</lei>
        <title>Standard Motor Products, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Dorman Products, Inc.</name>
        <lei>2549000O0BBUX740XR59</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Helix Energy Solutions Group, Inc.</name>
        <lei>416AP2JOUTCWEGSOZW41</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Green Brick Partners, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Teleflex Inc.</name>
        <lei>UUL85LWXB4NGSWWXIQ25</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Warrior Met Coal, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Franklin BSP Realty Trust, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SL Green Realty Corp.</name>
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        <title>SL Green Realty Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Lincoln National Corp.</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>Lincoln National Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Ethan Allen Interiors Inc.</name>
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        <title>Ethan Allen Interiors Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Steven Madden, Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Ellington Financial Inc.</name>
        <lei>60GS1D1R1YY5G1W7IT74</lei>
        <title>Ellington Financial Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>StoneX Group Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Century Communities, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>QuinStreet, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>People Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Harmonic Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Comstock Resources, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Virtu Financial, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Community Financial System, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Privia Health Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CoreCivic, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>M/I Homes, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Shutterstock, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Buckle, Inc. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>FormFactor, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>QuidelOrtho Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Century Aluminum Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Highwoods Properties, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Peabody Energy Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>N-able, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Pathward Financial, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Lakeland Financial Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Westamerica Bancorporation</name>
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        <fairValLevel>1</fairValLevel>
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        <name>DiamondRock Hospitality Co.</name>
        <lei>529900KKD4BPVBUAQ734</lei>
        <title>DiamondRock Hospitality Co.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>BankUnited, Inc.</name>
        <lei>96OVUWEW5D4YX6PFXD91</lei>
        <title>BankUnited, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Cactus, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Group 1 Automotive, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>JBG SMITH Properties</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Veracyte, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Stepan Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Vital Farms, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SM Energy Co.</name>
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        <title>SM Energy Co.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hayward Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Krystal Biotech, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Bancorp, Inc. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MDU Resources Group, Inc.</name>
        <lei>549300MA0UV6AI6SNV27</lei>
        <title>MDU Resources Group, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Ryman Hospitality Properties, Inc.</name>
        <lei>529900GCCWW9SRMPJR11</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Axcelis Technologies, Inc.</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>Merchants Bancorp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Northwest Natural Holding Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Viavi Solutions Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Par Pacific Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Payoneer Global Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PennyMac Mortgage Investment Trust</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Horace Mann Educators Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Virtus Investment Partners, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TrustCo Bank Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HNI Corp.</name>
        <lei>549300SKRADLC4O5HV93</lei>
        <title>HNI Corp.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sunrun Inc.</name>
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        <title>Sunrun Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cathay General Bancorp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>National Bank Holdings Corp.</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Boot Barn Holdings, Inc.</name>
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        <title>Boot Barn Holdings, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ManpowerGroup Inc.</name>
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        <title>ManpowerGroup Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Shenandoah Telecommunications Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Schneider National, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>HA Sustainable Infrastructure Capital, Inc.</name>
        <lei>254900ZZRL7MWL1X8E92</lei>
        <title>HA Sustainable Infrastructure Capital, Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal Signal Corp.</name>
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        <title>Federal Signal Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Easterly Government Properties, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>RadNet, Inc.</name>
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        <title>RadNet, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Dauch Corp.</name>
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        <title>Dauch Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>United Natural Foods, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Blackstone Mortgage Trust, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Western Union Co. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Phillips Edison &amp; Co., Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Avanos Medical, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Encore Capital Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Astrana Health, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>National Vision Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>American States Water Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CVB Financial Corp.</name>
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        <title>CVB Financial Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Adient PLC</name>
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        <title>Adient PLC</title>
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        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Proto Labs, Inc.</name>
        <lei>529900QHG5MGWT2WQQ09</lei>
        <title>Proto Labs, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>O-I Glass, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Reynolds Consumer Products Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Sonic Automotive, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Getty Realty Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Southside Bancshares, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Enerpac Tool Group Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>LegalZoom.com, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Insteel Industries Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ESCO Technologies Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Magnolia Oil &amp; Gas Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Strategic Education, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BioLife Solutions, Inc.</name>
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        <name>Oxford Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>WD-40 Co.</name>
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        <name>Werner Enterprises, Inc.</name>
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        <name>OUTFRONT Media Inc.</name>
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        <name>Veeco Instruments Inc.</name>
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        <name>Sensient Technologies Corp.</name>
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        <name>Terreno Realty Corp.</name>
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        <name>Apollo Commercial Real Estate Finance, Inc.</name>
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        <name>Dorian LPG Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Chesapeake Utilities Corp.</name>
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        <title>Chesapeake Utilities Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Tompkins Financial Corp.</name>
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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>Trupanion, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Robert Half Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Core Laboratories Inc.</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>Albany International Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>OmniAb, Inc.</name>
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        <fairValLevel>3</fairValLevel>
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        <name>FMC Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MasterBrand, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Academy Sports and Outdoors, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Sarepta Therapeutics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Sally Beauty Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>OPENLANE, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PROG Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>United Community Banks, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Eagle Bancorp, Inc.</name>
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        <name>First BanCorp.</name>
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        <name>RXO, Inc.</name>
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        <name>AMN Healthcare Services, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Core Natural Resources, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Hub Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Quanex Building Products Corp.</name>
        <lei>5493000TL30VL5WOAW87</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hilltop Holdings Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>XPEL, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Genworth Financial, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Power Integrations, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tennant Co.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Invesco Private Prime Fund</name>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WisdomTree, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Pacira Biosciences, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Clearway Energy, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>EnPro Inc.</name>
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        <title>EnPro Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>SolarEdge Technologies, Inc.</name>
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        <title>SolarEdge Technologies, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>National HealthCare Corp.</name>
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        <title>National HealthCare Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>PTC Therapeutics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ADT Inc.</name>
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        <title>ADT Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Heartland Express, Inc.</name>
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        <title>Heartland Express, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Kodiak Gas Services, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Arcosa, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>First Bancorp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>American Assets Trust, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Teradata Corp.</name>
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        <title>Teradata Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Mercury General Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Advance Auto Parts, Inc.</name>
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        <title>Advance Auto Parts, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Semtech Corp.</name>
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        <title>Semtech Corp.</title>
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        <name>Perdoceo Education Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hawkins, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Penguin Solutions, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alamo Group Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NCR Atleos Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>REX American Resources Corp.</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Assured Guaranty Ltd.</name>
        <lei>549300BBOQUJEPH87M14</lei>
        <title>Assured Guaranty Ltd.</title>
        <cusip>G0585R106</cusip>
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          <isin value="BMG0585R1060"/>
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        <balance>6851.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>St. Joe Co. (The)</name>
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        <title>St. Joe Co. (The)</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Customers Bancorp, Inc.</name>
        <lei>549300WLBCHYKZ53FN68</lei>
        <title>Customers Bancorp, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ABM Industries Inc.</name>
        <lei>QF02R89VEIOROM77J447</lei>
        <title>ABM Industries Inc.</title>
        <cusip>000957100</cusip>
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          <isin value="US0009571003"/>
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        <balance>10315.00000000</balance>
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        <valUSD>402903.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Certara, Inc.</name>
        <lei>N/A</lei>
        <title>Certara, Inc.</title>
        <cusip>15687V109</cusip>
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          <isin value="US15687V1098"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>Stewart Information Services Corp.</name>
        <lei>529900TV1XI0PLKENU10</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>EVERTEC, Inc.</name>
        <lei>N/A</lei>
        <title>EVERTEC, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>PR</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>CONMED Corp.</name>
        <lei>Z6C0YCECH9DCU5ZIQW84</lei>
        <title>CONMED Corp.</title>
        <cusip>207410101</cusip>
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        <balance>5694.00000000</balance>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Armstrong World Industries, Inc.</name>
        <lei>KXMRXXOJ88Q45Y45MG74</lei>
        <title>Armstrong World Industries, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Kontoor Brands, Inc.</name>
        <lei>549300M0CPXV65RFF271</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Marriott Vacations Worldwide Corp.</name>
        <lei>549300WA6BT5H4F7IO94</lei>
        <title>Marriott Vacations Worldwide Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>PJT Partners Inc.</name>
        <lei>549300W3WBEQUBKYTN87</lei>
        <title>PJT Partners Inc., Class A</title>
        <cusip>69343T107</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>AdaptHealth Corp.</name>
        <lei>N/A</lei>
        <title>AdaptHealth Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>ADMA Biologics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GEO Group, Inc. (The)</name>
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        <title>GEO Group, Inc. (The)</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Otter Tail Corp.</name>
        <lei>549300HHVBQRQUVKKD91</lei>
        <title>Otter Tail Corp.</title>
        <cusip>689648103</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>Element Solutions Inc.</name>
        <lei>549300FLGN6P5CU20J91</lei>
        <title>Element Solutions Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Ziff Davis, Inc.</name>
        <lei>5493008OJYGLHD7MXA18</lei>
        <title>Ziff Davis, Inc.</title>
        <cusip>48123V102</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Installed Building Products, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Concentra Group Holdings Parent, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>H2O America</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Enova International, Inc.</name>
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        <title>Enova International, Inc.</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Noble Corp. PLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSW Industrials, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Omnicell, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cinemark Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Rush Enterprises, Inc.</name>
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        <title>Rush Enterprises, Inc., Class A</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Cheesecake Factory Inc. (The)</name>
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        <title>Cheesecake Factory Inc. (The)</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ACI Worldwide, Inc.</name>
        <lei>5493003BPVMZUJ6F5C02</lei>
        <title>ACI Worldwide, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Red Rock Resorts, Inc.</name>
        <lei>N/A</lei>
        <title>Red Rock Resorts, Inc., Class A</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>eXp World Holdings, Inc.</name>
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        <title>eXp World Holdings, Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Northwest Bancshares, Inc.</name>
        <lei>N/A</lei>
        <title>Northwest Bancshares, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Leggett &amp; Platt, Inc.</name>
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        <title>Leggett &amp; Platt, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>DoubleVerify Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Acadia Realty Trust</name>
        <lei>254900C5XLB1YYJQSH07</lei>
        <title>Acadia Realty Trust</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Itron, Inc.</name>
        <lei>24F6LSZD18II6ICG6S41</lei>
        <title>Itron, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Embecta Corp.</name>
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        <title>Embecta Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Catalyst Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>DNOW Inc.</name>
        <lei>549300AVH5SOCFVVDW91</lei>
        <title>DNOW Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Atlantic Union Bankshares Corp.</name>
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        <title>Atlantic Union Bankshares Corp., Class B</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Acushnet Holdings Corp.</name>
        <lei>529900W5FI106H543E43</lei>
        <title>Acushnet Holdings Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Stride, Inc.</name>
        <lei>254900BRWS3AFONWU277</lei>
        <title>Stride, Inc.</title>
        <cusip>86333M108</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>ArcBest Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ACM Research, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Global Net Lease, Inc.</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>Azenta, Inc.</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>Tidewater Inc.</name>
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        <name>CorVel Corp.</name>
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        <name>ePlus inc.</name>
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      <invstOrSec>
        <name>Harmony Biosciences Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Harmony Biosciences Holdings, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Banc of California, Inc.</name>
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        <title>Banc of California, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AAR Corp.</name>
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        <title>AAR Corp.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Clear Secure, Inc.</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Standex International Corp.</name>
        <lei>RCX52GR0JW2LRRMH9Z54</lei>
        <title>Standex International Corp.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>First Financial Bancorp.</name>
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        <title>First Financial Bancorp.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Stellar Bancorp, Inc.</name>
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        <title>Stellar Bancorp, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Acadian Asset Management Inc.</name>
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        <title>Acadian Asset Management Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mueller Water Products, Inc.</name>
        <lei>549300F7ZU4P1F8V8L60</lei>
        <title>Mueller Water Products, Inc., Class A</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Central Garden &amp; Pet Co.</name>
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        <title>Central Garden &amp; Pet Co., Class A</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Brady Corp.</name>
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        <title>Brady Corp., Class A</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Callaway Golf Co.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Iridium Communications Inc.</name>
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        <title>Iridium Communications Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Liberty Energy Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ProAssurance Corp.</name>
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        <title>ProAssurance Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>NCR Voyix Corp.</name>
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        <title>NCR Voyix Corp.</title>
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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>Resideo Technologies, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Agilysys, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Moelis &amp; Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Arlo Technologies, Inc.</name>
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        <title>Arlo Technologies, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Acadia Healthcare Co., Inc.</name>
        <lei>5493005CW985Y9D0NC11</lei>
        <title>Acadia Healthcare Co., Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Organon &amp; Co.</name>
        <lei>549300AMCKY57OK2CO56</lei>
        <title>Organon &amp; Co.</title>
        <cusip>68622V106</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>Enphase Energy, Inc.</name>
        <lei>5493008U7KIGMI59Z314</lei>
        <title>Enphase Energy, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Addus HomeCare 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>Unitil Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Covista Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Triumph Financial, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Alpha Metallurgical Resources, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Apogee Enterprises, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Bristow Group Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CTS Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Gibraltar Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Victoria's Secret &amp; Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Whitestone REIT</name>
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        <name>DXP Enterprises, Inc.</name>
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        <name>Universal Health Realty Income Trust</name>
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        <name>Tripadvisor, Inc.</name>
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        <name>Glaukos Corp.</name>
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        <name>Adeia Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Patterson-UTI Energy, Inc.</name>
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        <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>NeoGenomics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Fulton Financial Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Crescent Energy Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Avista Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Kulicke and Soffa Industries, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>J &amp; J Snack Foods Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Hope Bancorp, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Talos Energy Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Invesco Private Government Fund</name>
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        <name>Verra Mobility Corp.</name>
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        <name>JBT Marel Corp.</name>
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        <name>International Seaways, Inc.</name>
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        <name>Grid Dynamics Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Everus Construction Group, Inc.</name>
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        <title>Everus Construction Group, Inc.</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Enact Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Meritage Homes Corp.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMERISAFE, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Upwork Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Eastman Chemical Co.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>OFG Bancorp</name>
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        <invCountry>PR</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Minerals Technologies Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Griffon Corp.</name>
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        <title>Griffon Corp.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MYR Group Inc.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Oceaneering International, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Chefs' Warehouse, Inc. (The)</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Badger Meter, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Millrose Properties, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Diodes Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>FB Financial Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Kadant Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Quaker Chemical Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ICU Medical, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Ralliant Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PDF Solutions, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Adamas Trust, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Fox Factory Holding Corp.</name>
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        <title>Fox Factory Holding Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Provident Financial Services, Inc.</name>
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        <title>Provident Financial Services, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Knowles Corp.</name>
        <lei>5493003EO323TDZQU148</lei>
        <title>Knowles Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Papa John's International, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Viasat, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>First Interstate BancSystem, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Protagonist Therapeutics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Amneal Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Worthington Steel, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Centerspace</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Alpha and Omega Semiconductor Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Granite Construction Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Victory Capital Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Insight Enterprises, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PriceSmart, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Mirion Technologies, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Plexus Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Greenbrier Cos., Inc. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cytek Biosciences, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PHINIA Inc.</name>
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        <name>CVR Energy, Inc.</name>
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        <name>Calix, Inc.</name>
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        <name>Materion Corp.</name>
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        <name>California Water Service Group</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kaiser Aluminum Corp.</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Marcus &amp; Millichap, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Uniti Group Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Tanger Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>LCI Industries</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>City Holding Co.</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Extreme Networks, Inc.</name>
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        <title>Extreme Networks, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>RPC, Inc.</name>
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        <title>RPC, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Axos Financial, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Pursuit Attractions and Hospitality, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Scholastic Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>National Beverage Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Alkermes PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Trinity Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Urban Edge Properties</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HealthStream, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Sunstone Hotel Investors, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Universal Corp.</name>
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        <title>Universal Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Winnebago Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Alarm.com Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Interface, Inc.</name>
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        <title>Interface, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Mohawk Industries, Inc.</name>
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        <title>Mohawk Industries, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Renasant Corp.</name>
        <lei>549300OVE6OZHW2UUH81</lei>
        <title>Renasant Corp.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Innovative Industrial Properties, Inc.</name>
        <lei>5493008BQ0545EZXRR30</lei>
        <title>Innovative Industrial Properties, Inc.</title>
        <cusip>45781V101</cusip>
        <identifiers>
          <isin value="US45781V1017"/>
        </identifiers>
        <balance>4240.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>245877.60000000</valUSD>
        <pctVal>0.103430412061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="243426.00000000"/>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco Exchange-Traded Fund Trust II</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
