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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>LAUREATE EDUCATION INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FEDERATED HERMES MONEY MARKET OBLIGATIONS TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>COMMVAULT SYSTEMS INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CRA INTERNATIONAL INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SITIME CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BALCHEM CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>FRONTDOOR INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MARCUS CORP (THE)</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HBT FINANCIAL INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SMARTFINANCIAL INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SIERRA BANCORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>BYLINE BANCORP INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>VICOR CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ADI GLOBAL DISTRIBUTION 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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        <fairValLevel>1</fairValLevel>
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        <name>BIOVENTUS INC</name>
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        <name>CASTLE BIOSCIENCES INC</name>
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        <name>TELOS CORP</name>
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        <name>BACKBLAZE INC</name>
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        <name>MERIT MEDICAL SYSTEMS INC</name>
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        <name>PHIBRO ANIMAL HEALTH CORP</name>
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        <name>MATERION CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>NWPX INFRASTRUCTURE INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ACCEL ENTERTAINMENT INC</name>
        <lei>N/A</lei>
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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>MOVADO GROUP INC</name>
        <lei>549300WCGCGPWGHVXM59</lei>
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          <isin value="US6245801062"/>
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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>CALUMET INC</name>
        <lei>529900E014J6I18H3V27</lei>
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          <isin value="US1314281049"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HOMETRUST BANCSHARES INC</name>
        <lei>N/A</lei>
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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>
        <name>SHORE BANCSHARES INC</name>
        <lei>N/A</lei>
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          <isin value="US8251071051"/>
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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>
        <name>COMFORT SYSTEMS USA INC</name>
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          <isin value="US1999081045"/>
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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>
        <name>INNOVAGE HOLDING CORP</name>
        <lei>N/A</lei>
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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>
        <name>KULICKE AND SOFFA INDUSTRIES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>L.B. FOSTER COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>FEDERAL SIGNAL CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>SIGHT SCIENCES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GUARDIAN PHARMACY SERVICES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PULSE BIOSCIENCES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MARQETA INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>DIODES INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>WATTS WATER TECHNOLOGIES INC</name>
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        <title>WATTS WATER TE-A</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GORMAN RUPP COMPANY (THE)</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>PONCE FINANCIAL GROUP INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CREDO TECHNOLOGY GROUP HOLDING LTD</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>SUMMIT HOTEL PROPERTIES INC</name>
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        <title>SUMMIT HOTEL PRO</title>
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        <fairValLevel>1</fairValLevel>
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        <name>PRA GROUP INC</name>
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        <title>PRA GROUP INC</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ENERSYS</name>
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        <title>ENERSYS</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FVCBANKCORP INC</name>
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        <title>FVCBANKCORP INC</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>GPGI INC</name>
        <lei>N/A</lei>
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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>
        <name>HECLA MINING COMPANY</name>
        <lei>5493009Y6HOBZD1QD537</lei>
        <title>HECLA MINING CO</title>
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          <isin value="US4227041062"/>
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        <balance>22969.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EVERCOMMERCE INC</name>
        <lei>N/A</lei>
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          <isin value="US29977X1054"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TENAX THERAPEUTICS INC</name>
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        <title>TENAX THERAPEUTI</title>
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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>
        <name>MAREX GROUP LTD</name>
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          <isin value="BMG5T40M1045"/>
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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>MARAVAI LIFESCIENCES HOLDINGS INC</name>
        <lei>N/A</lei>
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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>
        <name>RESIDEO TECHNOLOGIES INC</name>
        <lei>5493006TKFPYISY2DS54</lei>
        <title>RESIDEO TECHN</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>ENVELA CORP</name>
        <lei>N/A</lei>
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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>
        <name>ALLIENT INC</name>
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        <title>ALLIENT INC</title>
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          <isin value="US0193301092"/>
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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>
        <name>CTO REALTY GROWTH INC</name>
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        <title>CTO REALTY GROWT</title>
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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>
        <name>V2X INC</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CUSTOM TRUCK ONE SOURCE INC</name>
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        <title>CUSTOM TRUCK ONE</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>UNIVERSAL INSURANCE HOLDINGS INC</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NAVIGATOR HOLDINGS LTD</name>
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        <title>NAVIGATOR HOLDIN</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>UNITED FIRE GROUP INC</name>
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        <title>UNITED FIRE GROU</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FORMFACTOR INC</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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        <title>AMERICAN INTEGRI</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>MAXLINEAR INC</name>
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        <title>MAXLINEAR</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>INVESTAR HOLDING CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>HURON CONSULTING GROUP INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>APPIAN CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CHOICEONE FINANCIAL SERVICES INC</name>
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        <title>CHOICEONE FINANCIAL SVCS</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ROGERS CORP</name>
        <lei>PW0CN80KNFR7RUOOKJ84</lei>
        <title>ROGERS CORP</title>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>ESCO TECHNOLOGIES INC</name>
        <lei>5493007JJLP5MEWVDH10</lei>
        <title>ESCO TECH INC</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ADEIA INC</name>
        <lei>N/A</lei>
        <title>ADEIA INC</title>
        <cusip>00676P107</cusip>
        <identifiers>
          <isin value="US00676P1075"/>
        </identifiers>
        <balance>5730.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>144567.90000000</valUSD>
        <pctVal>0.410504287698</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>SOUTHERN MISSOURI BANCORP INC</name>
        <lei>N/A</lei>
        <title>SOUTHERN MISSOUR</title>
        <cusip>843380106</cusip>
        <identifiers>
          <isin value="US8433801060"/>
        </identifiers>
        <balance>6020.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>443011.80000000</valUSD>
        <pctVal>1.257943453567</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>QUAD/GRAPHICS INC</name>
        <lei>W2D68G5NJH4X0NW8PT65</lei>
        <title>QUAD GRAPHICS IN</title>
        <cusip>747301109</cusip>
        <identifiers>
          <isin value="US7473011093"/>
        </identifiers>
        <balance>25436.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>255886.16000000</valUSD>
        <pctVal>0.726595363443</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>CONCENTRA GROUP HOLDINGS PARENT INC</name>
        <lei>N/A</lei>
        <title>CONCENTRA GROUP</title>
        <cusip>20603L102</cusip>
        <identifiers>
          <isin value="US20603L1026"/>
        </identifiers>
        <balance>17566.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>592676.84000000</valUSD>
        <pctVal>1.682921202006</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>BANK OF N.T. BUTTERFIELD &amp; SON LTD (THE)</name>
        <lei>549300V8RVM0EMTDPF28</lei>
        <title>BANK NT BUTTERFI</title>
        <cusip>G0772R208</cusip>
        <identifiers>
          <isin value="BMG0772R2087"/>
        </identifiers>
        <balance>11551.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>680122.88000000</valUSD>
        <pctVal>1.931226492200</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>SPX TECHNOLOGIES INC</name>
        <lei>N/A</lei>
        <title>SPX TECHNOLOGIES</title>
        <cusip>78473E103</cusip>
        <identifiers>
          <isin value="US78473E1038"/>
        </identifiers>
        <balance>2849.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>560540.75000000</valUSD>
        <pctVal>1.591669944052</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>ATLANTICUS HOLDINGS CORP</name>
        <lei>N/A</lei>
        <title>ATLANTICUS HOLDI</title>
        <cusip>04914Y102</cusip>
        <identifiers>
          <isin value="US04914Y1029"/>
        </identifiers>
        <balance>3293.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>297917.71000000</valUSD>
        <pctVal>0.845945035767</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>LENDINGTREE INC</name>
        <lei>549300ISY5YHUJZTON08</lei>
        <title>LENDINGTREE INC</title>
        <cusip>52603B107</cusip>
        <identifiers>
          <isin value="US52603B1070"/>
        </identifiers>
        <balance>1700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47668.00000000</valUSD>
        <pctVal>0.135354517745</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>CTS CORP</name>
        <lei>549300YV1HQLBVHOI649</lei>
        <title>CTS CORP</title>
        <cusip>126501105</cusip>
        <identifiers>
          <isin value="US1265011056"/>
        </identifiers>
        <balance>894.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50484.18000000</valUSD>
        <pctVal>0.143351133626</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>2026-09-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Zacks Trust</ncom:nameOfApplicant>
      <ncom:signature>Edward Kelly</ncom:signature>
      <ncom:signerName>Edward Kelly</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
