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      <regLei>SNQR0U5FDV8EZZX4W051</regLei>
      <regStreet1>150 NORTH RIVERSIDE PLAZA</regStreet1>
      <regCity>CHICAGO</regCity>
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      <regZipOrPostalCode>60606</regZipOrPostalCode>
      <regPhone>312-364-8000</regPhone>
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      <repPdEnd>2026-12-31</repPdEnd>
      <repPdDate>2026-06-30</repPdDate>
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      <totLiabs>23551.19</totLiabs>
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      <assetsInvested>0.00000000</assetsInvested>
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      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
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        <fairValLevel>1</fairValLevel>
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        <name>Allison Transmission Holdings Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>American Financial Group Inc/OH</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Ameris Bancorp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Atmus Filtration Technologies Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Diodes Inc</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Eagle Materials Inc</name>
        <lei>529900KRXRGXL61SG039</lei>
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          <isin value="US26969P1084"/>
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        <balance>213.00000000</balance>
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        <curCd>USD</curCd>
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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>East West Bancorp Inc</name>
        <lei>254900O4X656YXFOYB11</lei>
        <title>East West Bancorp Inc</title>
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          <isin value="US27579R1041"/>
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        <balance>448.00000000</balance>
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        <curCd>USD</curCd>
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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>Eastern Bankshares Inc</name>
        <lei>549300J245MBQU3DO403</lei>
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          <isin value="US27627N1054"/>
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        <curCd>USD</curCd>
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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>Element Solutions Inc</name>
        <lei>549300FLGN6P5CU20J91</lei>
        <title>Element Solutions Inc</title>
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          <isin value="US28618M1062"/>
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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>Encompass Health Corp</name>
        <lei>549300FVRPM9DRQZRG64</lei>
        <title>Encompass Health Corp</title>
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          <isin value="US29261A1007"/>
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        <curCd>USD</curCd>
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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>Euronet Worldwide Inc</name>
        <lei>YG3575C4DSHJPA5KET68</lei>
        <title>Euronet Worldwide Inc</title>
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          <isin value="US2987361092"/>
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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>Four Corners Property Trust Inc</name>
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          <isin value="US35086T1097"/>
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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>Globus Medical Inc</name>
        <lei>5299003M2P4CIK0RF205</lei>
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          <isin value="US3795772082"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Haemonetics Corp</name>
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        <curCd>USD</curCd>
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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>Healthpeak Properties Inc</name>
        <lei>254900M6MTMZM0I22L81</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Helios Technologies Inc</name>
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        <title>Helios Technologies 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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        <name>Host Hotels &amp; Resorts Inc</name>
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        <title>Host Hotels &amp; Resorts Inc</title>
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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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        <name>JB Hunt Transport Services Inc</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>IDACORP Inc</name>
        <lei>N134NUJDWN8UEFA8B673</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Ingredion Inc</name>
        <lei>PKSTQ48QDN0XSVS7YK88</lei>
        <title>Ingredion Inc</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Integer Holdings Corp</name>
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        <title>Integer Holdings Corp</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Jabil Inc</name>
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        <title>Jabil Inc</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Jefferies Financial Group Inc</name>
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        <title>Jefferies Financial Group Inc</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Kirby Corp</name>
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        <title>Kirby Corp</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Kite Realty Group Trust</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Knight-Swift Transportation Holdings Inc</name>
        <lei>2549007VHKP3K6E1XF67</lei>
        <title>Knight-Swift Transportation Holdings Inc</title>
        <cusip>499049104</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Labcorp Holdings Inc</name>
        <lei>N/A</lei>
        <title>Labcorp Holdings Inc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Lantheus Holdings Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Laureate Education Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Matador Resources Co</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Matson Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Maximus Inc</name>
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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>McGrath RentCorp</name>
        <lei>254900EUH6IPWFQ83445</lei>
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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>Modine Manufacturing Co</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Molson Coors Beverage Co</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NiSource Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PBF Energy Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PPL Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Permian Resources Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Regency Centers Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Royal Gold Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Rush Enterprises Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Selective Insurance Group Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SkyWest Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SOUTHSTATE BANK CORP</name>
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        <name>STAG Industrial Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>StandardAero Inc</name>
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        <name>Fixed Income Clearing Corp.</name>
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        <name>Taylor Morrison Home Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Timken Co/The</name>
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        <title>Timken Co/The</title>
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        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trekor Metals Ltd</name>
        <lei>549300XKUO1JSLU7KX54</lei>
        <title>Trekor Metals Ltd</title>
        <cusip>89472Y107</cusip>
        <identifiers>
          <isin value="CA89472Y1079"/>
        </identifiers>
        <balance>2737.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18830.56000000</valUSD>
        <pctVal>0.434606321863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trex Co Inc</name>
        <lei>N/A</lei>
        <title>Trex Co Inc</title>
        <cusip>89531P105</cusip>
        <identifiers>
          <isin value="US89531P1057"/>
        </identifiers>
        <balance>952.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47638.08000000</valUSD>
        <pctVal>1.099479289486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMB Financial Corp</name>
        <lei>549300MGEH3N3CUCV828</lei>
        <title>UMB Financial Corp</title>
        <cusip>902788108</cusip>
        <identifiers>
          <isin value="US9027881088"/>
        </identifiers>
        <balance>354.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50537.04000000</valUSD>
        <pctVal>1.166386823984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Valvoline Inc</name>
        <lei>549300CMHPBEY6VPOT75</lei>
        <title>Valvoline Inc</title>
        <cusip>92047W101</cusip>
        <identifiers>
          <isin value="US92047W1018"/>
        </identifiers>
        <balance>1648.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>65161.92000000</valUSD>
        <pctVal>1.503926722134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vishay Intertechnology Inc</name>
        <lei>5493009O8F3QQJTCQR75</lei>
        <title>Vishay Intertechnology Inc</title>
        <cusip>928298108</cusip>
        <identifiers>
          <isin value="US9282981086"/>
        </identifiers>
        <balance>1152.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61954.56000000</valUSD>
        <pctVal>1.429901364816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WaterBridge Infrastructure LLC</name>
        <lei>N/A</lei>
        <title>WaterBridge Infrastructure LLC</title>
        <cusip>940923105</cusip>
        <identifiers>
          <isin value="US9409231050"/>
        </identifiers>
        <balance>1475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50548.25000000</valUSD>
        <pctVal>1.166645548997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WEX Inc</name>
        <lei>T9M5IGROL1TL1G5OV478</lei>
        <title>WEX Inc</title>
        <cusip>96208T104</cusip>
        <identifiers>
          <isin value="US96208T1043"/>
        </identifiers>
        <balance>302.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42609.18000000</valUSD>
        <pctVal>0.983413079452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>John Wiley &amp; Sons Inc</name>
        <lei>5493003XM719UN7E8P64</lei>
        <title>John Wiley &amp; Sons Inc</title>
        <cusip>968223206</cusip>
        <identifiers>
          <isin value="US9682232064"/>
        </identifiers>
        <balance>916.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44435.16000000</valUSD>
        <pctVal>1.025556406660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Winnebago Industries Inc</name>
        <lei>549300B7OYKYJLTE3G11</lei>
        <title>Winnebago Industries Inc</title>
        <cusip>974637100</cusip>
        <identifiers>
          <isin value="US9746371007"/>
        </identifiers>
        <balance>461.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14401.64000000</valUSD>
        <pctVal>0.332387554549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wyndham Hotels &amp; Resorts Inc</name>
        <lei>549300FE3MQ4RVXXC673</lei>
        <title>Wyndham Hotels &amp; Resorts Inc</title>
        <cusip>98311A105</cusip>
        <identifiers>
          <isin value="US98311A1051"/>
        </identifiers>
        <balance>618.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52041.78000000</valUSD>
        <pctVal>1.201115983221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Allegion plc</name>
        <lei>984500560CAC2E6FB757</lei>
        <title>Allegion plc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BFRT3W74"/>
        </identifiers>
        <balance>337.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47345.13000000</valUSD>
        <pctVal>1.092718050203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Essent Group Ltd</name>
        <lei>254900QUO860OUT6ZF83</lei>
        <title>Essent Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG3198U1027"/>
        </identifiers>
        <balance>717.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>46088.76000000</valUSD>
        <pctVal>1.063721230958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Everest Group Ltd</name>
        <lei>549300N24XF2VV0B3570</lei>
        <title>Everest Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG3223R1088"/>
        </identifiers>
        <balance>145.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51798.35000000</valUSD>
        <pctVal>1.195497657641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICON PLC</name>
        <lei>6354008SRQGEMC4XFI67</lei>
        <title>ICON PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE0005711209"/>
        </identifiers>
        <balance>271.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47075.41000000</valUSD>
        <pctVal>1.086492955616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tecnoglass Inc</name>
        <lei>529900YRWTPOC2E6IO67</lei>
        <title>Tecnoglass Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG872641009"/>
        </identifiers>
        <balance>959.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44890.79000000</valUSD>
        <pctVal>1.036072274400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tower Semiconductor Ltd</name>
        <lei>54930086ZSNXZOUX0C54</lei>
        <title>Tower Semiconductor Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010823792"/>
        </identifiers>
        <balance>283.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>73761.12000000</valUSD>
        <pctVal>1.702394886807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXPRO GROUP HOLDINGS NV</name>
        <lei>724500LJYA8QIT73H017</lei>
        <title>Expro Group Holdings NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0010556684"/>
        </identifiers>
        <balance>3480.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51399.60000000</valUSD>
        <pctVal>1.186294571231</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flex Ltd</name>
        <lei>549300EAQH74YHD07T53</lei>
        <title>Flex Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG9999000020"/>
        </identifiers>
        <balance>611.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>99024.77000000</valUSD>
        <pctVal>2.285475899976</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-15</ncom:dateSigned>
      <ncom:nameOfApplicant>WILLIAM BLAIR FUNDS</ncom:nameOfApplicant>
      <ncom:signature>John Raczek</ncom:signature>
      <ncom:signerName>John Raczek</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
