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        <name>BRIGHT HORIZONS FAMILY SOLUTIONS LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DIODES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HILLMAN SOLUTIONS CORP</name>
        <lei>529900AR9S8LH1TRSG05</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>LOUISIANA PACIFIC CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BOWHEAD SPECIALTY HOLDINGS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>TELEFLEX INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PORTLAND GENERAL ELECTRIC COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PROSPERITY BANCSHARES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HORIZON BANCORP INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BOWMAN CONSULTING GROUP LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>COMMERCIAL METALS COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FOX FACTORY HOLDING CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>WESBANCO INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ADT INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AMN HEALTHCARE SERVICES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ARDMORE SHIPPING CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CYTEK BIOSCIENCES INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CRANE NXT COMPANY</name>
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        <name>LENDINGTREE INC</name>
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        <name>NATIONAL BANK HOLDINGS CORP</name>
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        <name>TUTOR PERINI CORP</name>
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        <name>OFG BANCORP</name>
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        <name>VTEX</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HANOVER INSURANCE GROUP INC (THE)</name>
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        <title>HANOVER INSURANC</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TETRA TECHNOLOGIES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MATRIX SERVICE COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALGOMA STEEL GROUP INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KBR INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ATLAS ENERGY SOLUTIONS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RED VIOLET INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FRONTIER GROUP HOLDINGS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>POST HOLDINGS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>AVEANNA HEALTHCARE HOLDINGS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>TERADATA CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ONTERRIS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>EZCORP INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>RESERVOIR MEDIA INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ORTHOFIX MEDICAL INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>LEGACY EDUCATION INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ASCENT INDUSTRIES COMPANY</name>
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        <title>SYNALLOY CORP</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>POOL CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ALLIENT INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>INNOVIVA INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PRIORITY TECHNOLOGY HOLDINGS INC</name>
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        <title>PRIORITY TECHNOL</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>NORTHPOINTE BANCSHARES INC</name>
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        <title>NORTHPOINTE BANC</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GXO LOGISTICS INC</name>
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        <title>GXO LOGISTIC</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FERROGLOBE PLC</name>
        <lei>2138005GCFJACFTZUD90</lei>
        <title>FERROGLOBE PLC</title>
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        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CARGURUS INC</name>
        <lei>54930027BKQN6B7X7G78</lei>
        <title>CARGURUS INC</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>NCR VOYIX CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>TREKOR METALS LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ACADEMY SPORTS AND OUTDOORS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>WARRIOR MET COAL INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>LEGALZOOM.COM INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>REGAL REXNORD CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>AERSALE CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ESQUIRE FINANCIAL HOLDINGS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CONSENSUS CLOUD SOLUTIONS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>RGC RESOURCES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MANPOWERGROUP INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>NATIONAL VISION HOLDINGS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>TIMKEN COMPANY (THE)</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>AMERICAN INTEGRITY INSURANCE GROUP INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CENTRAL PACIFIC FINANCIAL CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>LAZARD INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SITEONE LANDSCAPE SUPPLY INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CARDINAL INFRASTRUCTURE GROUP INC</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>NATIONAL ENERGY SERVICES REUNITED CORP</name>
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        <name>SPIRE INC (US)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CUSTOM TRUCK ONE SOURCE INC</name>
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        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HALOZYME THERAPEUTICS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>UMH PROPERTIES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GETTY REALTY CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ICF INTERNATIONAL INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SLIDE INSURANCE HOLDINGS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MANITOWOC COMPANY INC (THE)</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>AMERICAN WELL CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HEARTLAND EXPRESS INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CHIME FINANCIAL INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>KALTURA INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>EXPRO LTD</name>
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        <name>NPK INTERNATIONAL INC</name>
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        <name>ABM INDUSTRIES INC</name>
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        <name>ICON PLC</name>
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        <name>CLARUS CORP</name>
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        <name>HOLLEY INC</name>
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        <name>PARK DENTAL PARTNERS INC</name>
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        <name>PTC THERAPEUTICS INC</name>
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        <name>FLUOR CORP</name>
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        <name>THYSSENKRUPP AG</name>
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        <fairValLevel>1</fairValLevel>
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        <name>RADIANT LOGISTICS INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>INTEGER HOLDINGS CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ROOT INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ALCOA CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>OCEANFIRST FINANCIAL CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CAPSTONE COPPER CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>8X8 INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>LEGACY HOUSING CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FIRST WATCH RESTAURANT GROUP INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BKV CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MAMMOTH ENERGY SERVICES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>V2X INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SELECT WATER SOLUTIONS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PEOPLE INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HERC HOLDINGS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CECO ENVIRONMENTAL CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PERELLA WEINBERG PARTNERS</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CTO REALTY GROWTH INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>DHT HOLDINGS INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>STONERIDGE INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MOTORCAR PARTS OF AMERICA INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HALLADOR ENERGY COMPANY</name>
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        <name>PAR TECHNOLOGY CORP</name>
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        <title>PAR TECHNOLOGY</title>
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        <fairValLevel>1</fairValLevel>
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        <name>PUBLIC POLICY HOLDING COMPANY INC</name>
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        <title>PUBLIC POLICY HO</title>
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        <fairValLevel>1</fairValLevel>
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        <name>NETSTREIT CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <fairValLevel>N/A</fairValLevel>
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        <name>ANTERO RESOURCES CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>INSTEEL INDUSTRIES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>KIRBY CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>RADCOM LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FIRST BANCORP (PUERTO RICO)</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CAPITAL BANCORP INC (MARYLAND)</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>LITTELFUSE INC</name>
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        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MAXIMUS INC</name>
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        <name>NORTHEAST BANK</name>
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        <fairValLevel>1</fairValLevel>
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        <name>UPLAND SOFTWARE INC</name>
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        <name>NATURAL GAS SERVICES GROUP INC</name>
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        <name>MCGRATH RENTCORP</name>
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        <name>HUDSON TECHNOLOGIES INC</name>
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        <name>SIRIUS XM HOLDINGS INC</name>
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        <name>BLACK HILLS CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>FIDELITY COLCHESTER STREET TRUST</name>
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        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>RAYONIER ADVANCED MATERIALS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>COVENANT LOGISTICS GROUP INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PROFICIENT AUTO LOGISTICS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>OOMA INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PRIMERICA INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PAYMENTUS HOLDINGS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FEDERAL AGRICULTURAL MORTGAGE CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>STRATA CRITICAL MEDICAL INC</name>
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        <name>CENTERSPACE REAL ESTATE INVESTMENT TRUST</name>
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        <name>CELANESE CORP</name>
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        <name>INDEPENDENT BANK CORP (MICHIGAN)</name>
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        <name>FLAGSTAR BANK NA</name>
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        <name>STARZ ENTERTAINMENT CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TAT TECHNOLOGIES LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PEAPACK-GLADSTONE FINANCIAL CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HOMETRUST BANCSHARES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CAREDX INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>KOPPERS HOLDINGS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>RANPAK HOLDINGS CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>DAVE INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>METHODE ELECTRONICS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BGC GROUP INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>INGEVITY CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BIO-RAD LABORATORIES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SCORPIO TANKERS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SILICON MOTION TECHNOLOGY CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>NORTHERN OIL &amp; GAS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>AEBI SCHMIDT HOLDING AG</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TRUEBLUE INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MATTHEWS INTERNATIONAL CORP</name>
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        <name>OPTION CARE HEALTH INC</name>
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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>CARLSMED INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>JOINT CORP (THE)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ONTO INNOVATION INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>REVVITY INC</name>
        <lei>549300IKL1SDPFI7N655</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SM ENERGY COMPANY</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
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        <pctVal>0.230653277496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>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>METALLUS INC</name>
        <lei>549300QZTZWHDE9HJL14</lei>
        <title>METALLUS INC</title>
        <cusip>887399103</cusip>
        <identifiers>
          <isin value="US8873991033"/>
        </identifiers>
        <balance>35602.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>716312.24000000</valUSD>
        <pctVal>0.771417948070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>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>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns are reported without deducting sales loads and redemption fees, if any." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Dunham Funds</ncom:nameOfApplicant>
      <ncom:signature>James Colantino</ncom:signature>
      <ncom:signerName>James Colantino</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
