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      <invstOrSec>
        <name>OSHKOSH CORPORATION</name>
        <lei>549300FEKNPCFSA2B506</lei>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CISCO SYSTEMS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DNOW INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SANOFI SA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SIGA TECHNOLOGIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ZIMMER BIOMET HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>HANMI FINANCIAL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FORTUNE BRANDS INNOVATIONS, INC.</name>
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        <title>FORTUNE BRANDS INNOVATION</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>TAYLOR MORRISON HOME CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>APOGEE ENTERPRISES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GRAPHIC PACKAGING HOLDING COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PULTEGROUP, INC.</name>
        <lei>N/A</lei>
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        <name>HOPE BANCORP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BOISE CASCADE COMPANY</name>
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        <name>CARETRUST REIT, INC.</name>
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        <name>UNITED AIRLINES HOLDINGS, INC.</name>
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        <name>NU SKIN ENTERPRISES, INC.</name>
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        <name>Vanguard International Equity Index Funds - Vanguard Emerging Markets Stock Inde</name>
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        <title>VANGUARD FTSE EMERGING MARKETS ETF</title>
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        <name>CONSTELLATION BRANDS, INC.</name>
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        <name>WORLD ACCEPTANCE CORPORATION</name>
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        <title>WORLD ACCEPTANCE CORP</title>
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        <name>APARTMENT INVESTMENT AND MANAGEMENT COMPANY</name>
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        <title>APARTMENT INVT MGMT CO A</title>
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        <name>BAXTER INTERNATIONAL INC.</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
        <title>BAXTER INTERNATIONAL INC</title>
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        <name>THE KRAFT HEINZ COMPANY</name>
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        <name>SCANSOURCE, INC.</name>
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        <name>TRINET GROUP, INC.</name>
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        <name>EDISON INTERNATIONAL</name>
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        <name>VictoryShares Short-Term Bond ETF</name>
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        <name>VISHAY INTERTECHNOLOGY, INC.</name>
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        <name>UNIVERSAL HEALTH SERVICES, INC.</name>
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        <name>THE NEW YORK TIMES COMPANY</name>
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        <name>Signet Jewelers Limited</name>
        <lei>549300N3XPGE91WV7M22</lei>
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        <name>TPG RE FINANCE TRUST, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Edgewell Personal Care Company</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KORN FERRY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EOG RESOURCES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>TYSON FOODS, INCORPORATED</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JACKSON FINANCIAL INC.</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Progyny Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>THE GOLDMAN SACHS GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>HARMONY BIOSCIENCES HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>UFP INDUSTRIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PALANTIR TECHNOLOGIES INC.</name>
        <lei>549300UVN46B3BBDHO85</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>THE CAMPBELL'S COMPANY</name>
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        <title>THE CAMPBELL S COMPANY</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CINCINNATI FINANCIAL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KB HOME</name>
        <lei>549300LGUCWQURMWLG09</lei>
        <title>KB HOME</title>
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        <assetCat>EC</assetCat>
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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>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Teekay Tankers Ltd.</name>
        <lei>549300DE8ZAIYS2T6Q22</lei>
        <title>TEEKAY TANKERS LTD</title>
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        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Invesco DB Commodity Index Tracking Fund</name>
        <lei>N/A</lei>
        <title>INVESCO DB COMMODITY INDEX TRACKING FUND</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>THE ST. JOE COMPANY</name>
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        <title>ST JOE CO</title>
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      <invstOrSec>
        <name>First BanCorp.</name>
        <lei>N/A</lei>
        <title>FIRST BANCORP PUERTO RICO</title>
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        <invCountry>PR</invCountry>

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        <name>SUNCOKE ENERGY, INC.</name>
        <lei>1KF1J2NXQE2PI0QOB943</lei>
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        <name>QUALCOMM INCORPORATED</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM INC</title>
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        <fairValLevel>1</fairValLevel>
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        <name>CENCORA, INC.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>CENCORA INC</title>
        <cusip>03073E105</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FRONTDOOR, INC.</name>
        <lei>5493008RB0JZJI3QGZ06</lei>
        <title>FRONTDOOR INC</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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        <name>CITIZENS FINANCIAL GROUP, INC.</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>CITIZENS FINANCIAL GROUP INC</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Real Estate Select Sector SPDR Fund</name>
        <lei>549300SPMSTD3BRHL041</lei>
        <title>STATE STREET REAL ESTATE SEL</title>
        <cusip>81369Y860</cusip>
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          <isin value="US81369Y8600"/>
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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>ACADEMY SPORTS AND OUTDOORS, INC.</name>
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          <isin value="US00402L1070"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALPHABET INC.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AUTOMATIC DATA PROCESSING, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TECHNIPFMC PLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WALMART 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>PHINIA INC.</name>
        <lei>254900HG6MORZE1FFM18</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>MSILF Government Portfolio</name>
        <lei>N/A</lei>
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          <isin value="US61747C7074"/>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <cashCollateralCondition cashCollateralVal="38825054.36000000" isCashCollateral="Y"/>
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      <invstOrSec>
        <name>Schwab Fundamental Intl Equity ETF</name>
        <lei>N/A</lei>
        <title>SCHWAB FUNDAMENTAL INTERNATIONAL EQUITY ETF</title>
        <cusip>808524755</cusip>
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          <isin value="US8085247554"/>
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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>Live Oak Bancshares, Inc.</name>
        <lei>N/A</lei>
        <title>LIVE OAK BANCSHARES INC</title>
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          <isin value="US53803X1054"/>
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        <balance>5070.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BRISTOL-MYERS SQUIBB COMPANY</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL MYERS SQUIBB CO</title>
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          <isin value="US1101221083"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PEAKSTONE REALTY TRUST.</name>
        <lei>549300EZQXWQI2YL1T80</lei>
        <title>PEAKSTONE REALTY TRUST</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VictoryShares Emerging Markets Value Momentum ETF</name>
        <lei>N/A</lei>
        <title>VICTORYSHARES EMERGING MARKETS</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>AMPHASTAR PHARMACEUTICALS INC</name>
        <lei>54930055TH0ZLSAQMJ38</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>The Travelers Companies, Inc.</name>
        <lei>549300Y650407RU8B149</lei>
        <title>TRAVELERS COMPANIES INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CRICUT, INC.</name>
        <lei>254900R3DKAJ28MC0Q39</lei>
        <title>CRICUT INC</title>
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        <name>WESTAMERICA BANCORPORATION</name>
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        <title>WESTAMERICA BANCORPORATION</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>ENOVA INTERNATIONAL, INC.</name>
        <lei>549300O8XOCQSB49UO63</lei>
        <title>ENOVA INTERNATIONAL INC</title>
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        <name>SIMMONS FIRST NATIONAL CORPORATION</name>
        <lei>549300IVR5AJKUVOGN05</lei>
        <title>SIMMONS FIRST NATL CORP CL A</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>COHEN &amp; STEERS, INC.</name>
        <lei>549300XXIA338A0X2K65</lei>
        <title>COHEN STEERS INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>THE ANDERSONS, INC</name>
        <lei>L38MWB8MVRFV7HVJPU11</lei>
        <title>THE ANDERSONS INC</title>
        <cusip>034164103</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ROYALTY PHARMA PLC</name>
        <lei>549300FGFN7VOK8BZR03</lei>
        <title>ROYALTY PHARMA PLC</title>
        <cusip>G7709Q104</cusip>
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        <balance>98966.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>iShares Core US Aggregate Bond ETF</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALPHABET INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>REX AMERICAN RESOURCES CORPORATION</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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      <invstOrSec>
        <name>SELECT MEDICAL HOLDINGS CORPORATION</name>
        <lei>N/A</lei>
        <title>SELECT MEDICAL HOLDINGS CORP</title>
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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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      <invstOrSec>
        <name>iShares Russell 1000 Growth</name>
        <lei>N/A</lei>
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          <isin value="US4642876142"/>
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        <issuerCat>RF</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AFFILIATED MANAGERS GROUP, 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>LTC PROPERTIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>HAMILTON INSURANCE GROUP, LTD.</name>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>FIRST FINANCIAL BANCORP.</name>
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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>BLUELINX HOLDINGS INC.</name>
        <lei>549300YSX7GU28F5I540</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>HP INC.</name>
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        <title>HP INC</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>COTERRA ENERGY INC.</name>
        <lei>FCNMH6O7VWU7LHXMK351</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GENCO SHIPPING &amp; TRADING LIMITED</name>
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        <title>GENCO SHIPPING TRADING LTD</title>
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        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>THE PROGRESSIVE CORPORATION</name>
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        <title>PROGRESSIVE CORP</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MILLERKNOLL, INC.</name>
        <lei>U98HXD3PNK7HYU2MU887</lei>
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        <name>VERIZON COMMUNICATIONS INC.</name>
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        <name>JAKKS PACIFIC, INC.</name>
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        <name>JOHNSON &amp; JOHNSON</name>
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        <title>JOHNSON JOHNSON</title>
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        <name>BOX, INC.</name>
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        <name>TAPESTRY, INC.</name>
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        <name>NVIDIA CORPORATION</name>
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        <title>NVIDIA CORP</title>
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        <name>BLACK HILLS CORPORATION</name>
        <lei>3MGELCRSTNSAMJ962671</lei>
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        <name>SALESFORCE, INC.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
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        <name>iShares Core MSCI Emerging Markets ETF</name>
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        <name>Philip Morris International Inc.</name>
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        <name>iShares MSCI Europe Financials ETF</name>
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      <invstOrSec>
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        <fairValLevel>1</fairValLevel>
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        <name>MILLICOM INTERNATIONAL CELLULAR S.A.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Vanguard Real Estate Index Fund</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>INTERNATIONAL BANCSHARES CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>OFG BANCORP</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>APOLLO COMMERCIAL REAL ESTATE FINANCE, INC.</name>
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        <name>MGE ENERGY, INC.</name>
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        <name>INVESCO GOVERNMENT &amp; AGENCY PORTFOLIO</name>
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        <name>LyondellBasell Industries N.V.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MEDTRONIC PUBLIC LIMITED COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>RYERSON HOLDING CORPORATION</name>
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        <name>CF INDUSTRIES HOLDINGS, INC.</name>
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        <name>GRIFFON CORPORATION</name>
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      <invstOrSec>
        <name>HAMILTON BEACH BRANDS HOLDING COMPANY</name>
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        <name>STERLING INFRASTRUCTURE, INC.</name>
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        <name>THE MOSAIC COMPANY</name>
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        <name>CATHAY GENERAL BANCORP</name>
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        <name>SPROUTS FARMERS MARKET, INC.</name>
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        <name>DELTA AIR LINES, INC.</name>
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        <name>CLEAR SECURE, INC.</name>
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        <name>BEL FUSE INC.</name>
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        <name>MARATHON PETROLEUM CORPORATION</name>
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        <name>Vanguard Mortgage-Backed Secs Idx Fund</name>
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        <name>Schwab Fundamental EM Equity ETF</name>
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        <name>YELP INC.</name>
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        <name>SM ENERGY COMPANY</name>
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        <name>ZIFF DAVIS, INC.</name>
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        <name>LAS VEGAS SANDS CORP.</name>
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        <name>NEWMONT CORPORATION</name>
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        <name>NATIONAL FUEL GAS COMPANY</name>
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        <name>Pathward Financial, Inc.</name>
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        <name>DOLLAR GENERAL CORPORATION</name>
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        <name>ADVANSIX INC.</name>
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        <name>FLEX LTD.</name>
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        <name>TALEN ENERGY CORP</name>
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        <name>VictoryShares Core Plus Bd ETF</name>
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        <name>APTIV PLC</name>
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        <name>DUKE ENERGY CORPORATION</name>
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        <name>HAWAIIAN ELECTRIC INDUSTRIES, INC.</name>
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        <name>INTERNATIONAL BUSINESS MACHINES CORPORATION</name>
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        <name>Schwab Fundamental Intl Small Equity ETF</name>
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        <name>THE KROGER CO.</name>
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        <name>ELME COMMUNITIES</name>
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        <name>CLIMB GLOBAL SOLUTIONS, INC.</name>
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        <name>JABIL INC.</name>
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        <name>APPLE INC.</name>
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        <name>CVS HEALTH CORPORATION</name>
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        <name>CONSENSUS CLOUD SOLUTIONS, INC.</name>
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        <name>CNB FINANCIAL CORPORATION</name>
        <lei>254900RUYUOKD91VNX69</lei>
        <title>CNB FINANCIAL CORP PA</title>
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        <name>THE CIGNA GROUP</name>
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        <name>GODADDY INC.</name>
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        <name>iShares Core S&amp;P 500 ETF</name>
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        <name>Niagen Bioscience Inc</name>
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        <name>Vanguard Total Stock Market Index Fund</name>
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        <name>INSIGHT ENTERPRISES, INC.</name>
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        <name>THE TJX COMPANIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>ADOBE INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>SPDR Gold Shares</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>SABRA HEALTH CARE REIT, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>LOCKHEED MARTIN CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>ACADIAN ASSET MANAGEMENT INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>DAKTRONICS, INC</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MOHAWK INDUSTRIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CORVEL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>iShares Trust - iShares Russell 1000 Value ETF</name>
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        <title>ISHARES RUSSELL 1000 VALUE ETF</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MURPHY OIL CORPORATION</name>
        <lei>QBKYQD0ODE7DC7PDIN91</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ALLISON TRANSMISSION HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>COMMVAULT SYSTEMS, INC.</name>
        <lei>65T5VRP62VXG39YFML83</lei>
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        <name>ONESPAN INC.</name>
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        <name>PHOTRONICS, INC.</name>
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        <name>Winmark Corporation</name>
        <lei>N/A</lei>
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        <name>EBAY INC.</name>
        <lei>OML71K8X303XQONU6T67</lei>
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        <name>GEN DIGITAL INC.</name>
        <lei>YF6ZV0M6AU4FY94MK914</lei>
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        <name>IRadimed Corp</name>
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        <name>O-I GLASS, INC.</name>
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        <name>The Bank of New York Mellon Corporation</name>
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        <name>Net Lease Office Properties</name>
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        <name>ESSENT GROUP LTD</name>
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        <title>ESSENT GROUP LTD</title>
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        <name>iShares Core S&amp;P Small-Cap ETF</name>
        <lei>549300BZQ17QYN750B25</lei>
        <title>ISHARES CORE S P SMALL CAP ETF</title>
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        <name>ARGAN, INC.</name>
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        <name>Altria Group, Inc.</name>
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        <name>EXPEDIA GROUP, INC.</name>
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        <name>VictoryShares International Free Cash Flow Gr ETF</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MATADOR RESOURCES COMPANY</name>
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        <name>SYSCO CORPORATION</name>
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        <name>iShares Core Universal USD Bond Market ETF</name>
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        <name>BLACKSTONE MORTGAGE TRUST, INC.</name>
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        <name>VERISIGN, INC.</name>
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        <name>State Street SPDR S&amp;P Emerging Mkts Small Cap ETF</name>
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        <name>G-III APPAREL GROUP, LTD.</name>
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        <name>NORTHEAST COMMUNITY BANCORP, INC.</name>
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        <name>RESIDEO TECHNOLOGIES, INC.</name>
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        <name>GENIE ENERGY LTD.</name>
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        <name>DROPBOX, INC.</name>
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        <name>ADAPTHEALTH CORP.</name>
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        <name>OWENS CORNING</name>
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        <name>ALEXANDER &amp; BALDWIN, INC.</name>
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        <name>TRI POINTE HOMES, INC.</name>
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        <name>THE PNC FINANCIAL SERVICES GROUP, INC.</name>
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        <name>GARRETT MOTION INC.</name>
        <lei>549300LS5WT7EMBNV724</lei>
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        <name>OLD SECOND BANCORP, INC.</name>
        <lei>549300XVJC1MPUT81C04</lei>
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        <name>iShares 0-5 Year TIPS Bond ETF</name>
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        <name>FORD MOTOR COMPANY</name>
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        <name>JPMorgan BetaBuilders Canada ETF</name>
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        <name>ABBVIE INC.</name>
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        <name>ADAMAS TRUST, INC.</name>
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        <name>COMFORT SYSTEMS USA, INC.</name>
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        <name>Kontoor Brands, Inc.</name>
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        <name>Popular, Inc.</name>
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        <name>LULULEMON ATHLETICA INC.</name>
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        <name>CATERPILLAR INC.</name>
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        <name>THE BANCORP, INC.</name>
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        <name>FERGUSON ENTERPRISES INC.</name>
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        <name>STEVEN MADDEN, LTD.</name>
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        <name>LOWE'S COMPANIES, INC.</name>
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        <name>HALLIBURTON COMPANY</name>
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        <name>DIVERSIFIED HEALTHCARE TRUST</name>
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        <name>Qualys Inc</name>
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        <name>PERDOCEO EDUCATION CORPORATION</name>
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        <name>INNOVIVA, INC.</name>
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        <name>FOX CORPORATION</name>
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        <name>INGREDION INCORPORATED</name>
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        <name>PPG INDUSTRIES, INC.</name>
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      <invstOrSec>
        <name>IDT CORPORATION</name>
        <lei>549300JNTN7ZMJDFCL56</lei>
        <title>IDT CORP</title>
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          <isin value="US4489475073"/>
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        <balance>3525.00000000</balance>
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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>NATIONAL HEALTH INVESTORS, INC.</name>
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          <isin value="US63633D1046"/>
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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>SANMINA CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BROADSTONE NET LEASE, 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>ARTISAN PARTNERS ASSET MANAGEMENT INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>SELECTIVE INSURANCE GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>AMAZON.COM, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PRUDENTIAL FINANCIAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Versant Media Group, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Vanguard FTSE All World ex US Index Fund Investor Shares</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>UNITED STATES LIME &amp; MINERALS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>NETSCOUT SYSTEMS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>DEERE &amp; COMPANY</name>
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        <name>LEGALZOOM.COM, INC.</name>
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        <name>DOLE PUBLIC LIMITED COMPANY</name>
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        <name>INTERPARFUMS INC</name>
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        <name>AXIS CAPITAL HOLDINGS LIMITED</name>
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        <title>AXIS CAPITAL HOLDINGS LTD</title>
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        <name>INTERACTIVE BROKERS GROUP, INC.</name>
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        <name>BREAD FINANCIAL HOLDINGS, INC.</name>
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        <name>COMMERCIAL METALS COMPANY</name>
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        <name>BOOKING HOLDINGS INC.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
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        <name>BORGWARNER INC.</name>
        <lei>549300DSFX2IE88NSX47</lei>
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        <invCountry>US</invCountry>

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        <name>TEREX CORPORATION</name>
        <lei>YAWJZJYEQ7M1SYMOS462</lei>
        <title>TEREX CORPORATION</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>DIME COMMUNITY BANCSHARES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CRESCENT ENERGY COMPANY</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>NETAPP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>REGIONAL MANAGEMENT CORP.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MORGAN STANLEY</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>DIODES INCORPORATED</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>FIDELITY NATIONAL FINANCIAL, INC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>PAYPAL HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>LEIDOS HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>UBER TECHNOLOGIES, INC.</name>
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        <name>EXXON MOBIL CORPORATION</name>
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        <name>UNIVERSAL HEALTH REALTY INCOME TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>VictoryShares Free Cash Flow Growth ETF</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>AMERICAN HEALTHCARE REIT, INC.</name>
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        <name>CONOCOPHILLIPS</name>
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        <name>Hawkins, Inc.</name>
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        <name>The Bank of N.T. Butterfield &amp; Son Limited</name>
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        <name>Invesco RAFI Developed Mkts ex-US ETF</name>
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        <name>IES HOLDINGS, INC.</name>
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        <name>POWER SOLUTIONS INTERNATIONAL, INC.</name>
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        <name>INTEGRA LIFESCIENCES HOLDINGS CORPORATION</name>
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        <name>CHIMERA INVESTMENT CORPORATION</name>
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        <name>GENERAL MOTORS COMPANY</name>
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        <name>GE VERNOVA INC.</name>
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        <name>EVOLUTION PETROLEUM CORPORATION</name>
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        <name>CRH PUBLIC LIMITED COMPANY</name>
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        <name>VictoryShares International Free Cash Flow ETF</name>
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        <name>Sun Country Airlines Holdings Inc</name>
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        <name>AMERICAN INTERNATIONAL GROUP, INC.</name>
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        <name>JPMORGAN CHASE &amp; CO.</name>
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        <name>F&amp;G ANNUITIES &amp; LIFE, INC.</name>
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        <name>T. ROWE PRICE GROUP, INC.</name>
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        <name>AMERICAN EXPRESS COMPANY</name>
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        <name>Postal Realty Trust Inc</name>
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        <name>Vanguard Tax Managed Fund FTSE Developed Markets ETF</name>
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        <name>PJT PARTNERS INC.</name>
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        <name>SKYWARD SPECIALTY INSURANCE GROUP, INC.</name>
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        <name>UNITY BANCORP, INC</name>
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        <name>THE BUCKLE, INC.</name>
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        <name>KLA CORPORATION</name>
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        <name>LAM RESEARCH CORPORATION</name>
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        <name>EXELIXIS, INC.</name>
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        <name>Vanguard Total Bond Market Index Fund</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MONSTER BEVERAGE CORPORATION</name>
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        <name>XENIA HOTELS &amp; RESORTS, INC.</name>
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        <name>FORESTAR GROUP INC.</name>
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        <name>Deutsche Post AG</name>
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        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>STATE STREET CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>THE HACKETT GROUP, INC.</name>
        <lei>5K016KLIRB6156644289</lei>
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        <name>DELUXE CORPORATION</name>
        <lei>KWGNKB8TX9LE5TV29231</lei>
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      <invstOrSec>
        <name>3M COMPANY</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
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        <name>ZOOM COMMUNICATIONS, INC.</name>
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        <name>CARGURUS, INC.</name>
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        <name>PACIRA BIOSCIENCES, INC.</name>
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        <name>ULTA BEAUTY, INC.</name>
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        <name>HUB GROUP, INC.</name>
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        <name>STEEL DYNAMICS, INC.</name>
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        <name>META PLATFORMS, INC.</name>
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        <name>HSBC US GOVERNMENT MONEY MARKET FUND</name>
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        <name>AMN HEALTHCARE SERVICES, INC.</name>
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        <name>M/I HOMES, INC.</name>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MUELLER INDUSTRIES, INC.</name>
        <lei>5493005IZFE4VJLLYG84</lei>
        <title>MUELLER INDUSTRIES INC</title>
        <cusip>624756102</cusip>
        <identifiers>
          <isin value="US6247561029"/>
          <other otherDesc="Internal" value="624756102"/>
        </identifiers>
        <balance>33873.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3995659.08000000</valUSD>
        <pctVal>0.132989823006</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>
    <signature>
      <ncom:dateSigned>2026-03-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios III</ncom:nameOfApplicant>
      <ncom:signature>Carol Trevino</ncom:signature>
      <ncom:signerName>Carol Trevino</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>