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      <invstOrSec>
        <name>EXPEDIA GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Altria Group, Inc.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ACCO BRANDS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ARTISAN PARTNERS ASSET MANAGEMENT INC.</name>
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          <isin value="US04316A1088"/>
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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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        <name>TOLL BROTHERS, 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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          <isCashCollateral>N</isCashCollateral>
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        <name>APOGEE ENTERPRISES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>KB HOME</name>
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        <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>LOWE'S COMPANIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MAXIMUS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>INTERPARFUMS INC</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nu Holdings Ltd</name>
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        <title>NU HOLDINGS LTD CAYMAN ISLANDS</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ESSENT GROUP LTD</name>
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        <title>ESSENT GROUP LTD</title>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>THE MACERICH COMPANY</name>
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        <title>THE MACERICH CO</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ABBVIE INC.</name>
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        <name>IDT CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Hallador Energy Company</name>
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        <name>EBAY INC.</name>
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        <name>O-I GLASS, INC.</name>
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        <name>MAGNOLIA OIL &amp; GAS CORPORATION</name>
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        <name>HANCOCK WHITNEY CORPORATION</name>
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        <title>HANCOCK WHITNEY CORP</title>
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        <name>INTERNATIONAL BUSINESS MACHINES CORPORATION</name>
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        <title>INTERNATIONAL BUSINESS MACHINES CORP</title>
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        <name>SPROUTS FARMERS MARKET, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>THE KROGER CO.</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>KROGER CO THE</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TECHNIPFMC PLC</name>
        <lei>549300D5I93QWCJTCK36</lei>
        <title>TECHNIPFMC PLC</title>
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          <isin value="GB00BDSFG982"/>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JACKSON FINANCIAL 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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RYMAN HOSPITALITY PROPERTIES, INC.</name>
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          <isin value="US78377T1079"/>
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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>Teekay Tankers Ltd.</name>
        <lei>549300DE8ZAIYS2T6Q22</lei>
        <title>TEEKAY TANKERS LTD</title>
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          <isin value="BMG8726X1065"/>
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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>OLD SECOND BANCORP, INC.</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>DELTA AIR LINES, INC.</name>
        <lei>Q2CCMS6R0AS67HJMBN42</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Precigen, Inc.</name>
        <lei>549300XCWNQU35K64G19</lei>
        <title>PRECIGEN 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>HAMILTON BEACH BRANDS HOLDING COMPANY</name>
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        <title>HAMILTON BEACH BRANDS HOLDING CO</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Popular, Inc.</name>
        <lei>5493008CARDZMVQ3LO89</lei>
        <title>POPULAR INC</title>
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        <assetCat>EC</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>F&amp;G ANNUITIES &amp; LIFE, INC.</name>
        <lei>N/A</lei>
        <title>F G ANNUITIES LIFE INC WI</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>COMMERCIAL METALS COMPANY</name>
        <lei>549300OQS2LO07ZJ7N73</lei>
        <title>COMMERCIAL METALS COMPANY</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>The Bank of N.T. Butterfield &amp; Son Limited</name>
        <lei>549300V8RVM0EMTDPF28</lei>
        <title>BANK OF NT BUTTERFIELD SON LTD THE</title>
        <cusip>G0772R208</cusip>
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          <isin value="BMG0772R2087"/>
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        <balance>2142.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</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>
        <cusip>92647N543</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>VictoryShares Free Cash Flow Growth ETF</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Spire Inc.</name>
        <lei>549300NXSY15DRY2R511</lei>
        <title>SPIRE INC</title>
        <cusip>84857L101</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>KULICKE AND SOFFA INDUSTRIES, INC.</name>
        <lei>529900H6BEIRBF429744</lei>
        <title>KULICKE SOFFA INDUSTRIES INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ARISTA NETWORKS, INC.</name>
        <lei>635400H1WKBLOQERUU95</lei>
        <title>ARISTA NETWORKS INC</title>
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        <name>CONSOLIDATED WATER CO. LTD.</name>
        <lei>5299001BMEW8X9VIJA73</lei>
        <title>CONSOLIDATED WATER CO LTD</title>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>KORN FERRY</name>
        <lei>549300FOD20OM0GT5G40</lei>
        <title>KORN FERRY</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ACADIAN ASSET MANAGEMENT INC.</name>
        <lei>5493004FTLQNQTBOP608</lei>
        <title>ACADIAN ASSET MANAGEMENT INC</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Kymera Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>KYMERA THERAPEUTICS 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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      <invstOrSec>
        <name>Schwab Fundamental Intl Small Equity ETF</name>
        <lei>N/A</lei>
        <title>SCHWAB FUNDAMENTAL INTERNATIONAL SMALL EQUITY ETF</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>SPDR Gold Shares</name>
        <lei>N/A</lei>
        <title>SPDR GOLD SHARES ETF</title>
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        <balance>5907.00000000</balance>
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        <name>Inhibrx Biosciences Inc</name>
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        <name>iShares MSCI Europe Financials ETF</name>
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        <name>BRISTOL-MYERS SQUIBB COMPANY</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
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          <isin value="US1101221083"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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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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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PLAYTIKA HOLDING CORP.</name>
        <lei>254900E35Z4TKA4UFG64</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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      <invstOrSec>
        <name>LAM RESEARCH CORPORATION</name>
        <lei>549300I4GMO6D34U1T02</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ZIFF DAVIS, INC.</name>
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          <isin value="US48123V1026"/>
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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>DOLLAR GENERAL CORPORATION</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GENIE ENERGY LTD.</name>
        <lei>52990057E36X8869GX58</lei>
        <title>GENIE ENERGY LTD</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NRG ENERGY, INC.</name>
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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>PTC THERAPEUTICS, INC.</name>
        <lei>549300UJLWOIWFDGB318</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>BREAD FINANCIAL HOLDINGS, INC.</name>
        <lei>549300G8S4PO686J7H97</lei>
        <title>BREAD FINANCIAL HOLDINGS</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>BOISE CASCADE COMPANY</name>
        <lei>549300Z8B8LSRHC7XA55</lei>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>NATIONAL FUEL GAS COMPANY</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>WABASH NATIONAL CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ACADIA PHARMACEUTICALS INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>COCA-COLA CONSOLIDATED, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>DIVERSIFIED HEALTHCARE TRUST</name>
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        <name>GOLDMAN SACHS FINANCIAL SQUARE GOVERNMENT FUND</name>
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        <name>SABRA HEALTH CARE REIT, INC.</name>
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        <name>Niagen Bioscience Inc</name>
        <lei>529900OPI7B8JPXCVS70</lei>
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        <name>EDISON INTERNATIONAL</name>
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        <name>APTIV PLC</name>
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        <title>APTIV HOLDINGS LTD</title>
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        <name>CARETRUST REIT, INC.</name>
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        <name>CABOT CORPORATION</name>
        <lei>K05C0SER542GQ6VLRO68</lei>
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        <name>Tanger Inc.</name>
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        <name>First BanCorp.</name>
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        <name>Progyny Inc</name>
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        <name>iShares Core Universal USD Bond Market ETF</name>
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        <name>Annexon Inc</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>WALMART INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan BetaBuilders Canada ETF</name>
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        <name>DONNELLEY FINANCIAL SOLUTIONS, INC.</name>
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        <name>KNOWLES CORPORATION</name>
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        <name>iShares Russell 1000 Growth</name>
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        <name>FRONTDOOR, INC.</name>
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        <name>Arcutis Biotherapeutics Inc</name>
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        <name>INSMED INCORPORATED</name>
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        <name>iShares Core US Aggregate Bond ETF</name>
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        <name>VictoryShares International Free Cash Flow ETF</name>
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        <name>APPLE INC.</name>
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        <name>Monte Rosa Therapeutics Inc</name>
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        <name>GILEAD SCIENCES, INC.</name>
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        <name>Schwab Fundamental Intl Equity ETF</name>
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        <name>CELLDEX THERAPEUTICS, INC.</name>
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        <name>Live Oak Bancshares, Inc.</name>
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        <name>Mineralys Therapeutics Inc</name>
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        <name>TRAVERE THERAPEUTICS, INC.</name>
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        <name>Apple Hospitality REIT, Inc.</name>
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        <name>GODADDY INC.</name>
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        <name>Praxis Precision Medicines Inc</name>
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        <name>Taysha Gene Therapies Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>OFG BANCORP</name>
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        <name>BRINKER INTERNATIONAL, INC.</name>
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        <name>CARDINAL HEALTH, INC.</name>
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        <name>DIVERSIFIED ENERGY COMPANY</name>
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        <name>EOG RESOURCES, INC.</name>
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        <name>INTEGRA LIFESCIENCES HOLDINGS CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ESSENTIAL PROPERTIES REALTY TRUST, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>THE BANCORP, INC.</name>
        <lei>894500FP2ICT1B019Y71</lei>
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        <name>Upstream Bio Inc</name>
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        <name>UNITED AIRLINES HOLDINGS, INC.</name>
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        <name>CRICUT, INC.</name>
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        <name>Crinetics Pharmaceuticals Inc</name>
        <lei>549300Q1CNFXK5P31D28</lei>
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        <name>AXIS CAPITAL HOLDINGS LIMITED</name>
        <lei>635400VD2NQBYAHMEM55</lei>
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        <name>Hawkins, Inc.</name>
        <lei>549300VL3IJ23OWX1Y34</lei>
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        <name>ULTA BEAUTY, INC.</name>
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        <name>VictoryShares Core Intermediate Bond ETF</name>
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        <name>JOHNSON &amp; JOHNSON</name>
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        <name>TIDEWATER INC.</name>
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        <name>LADDER CAPITAL CORP</name>
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        <name>VictoryShares Short-Term Bond ETF</name>
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        <name>MCKESSON CORPORATION</name>
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        <name>NUCOR CORPORATION</name>
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        <name>TRI POINTE HOMES, INC.</name>
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        <name>SALESFORCE, INC.</name>
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        <name>Qualys Inc</name>
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        <name>PHOTRONICS, INC.</name>
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        <name>COMCAST CORPORATION</name>
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        <name>GRIFFON CORPORATION</name>
        <lei>5493000C2SGNC7ZN3242</lei>
        <title>GRIFFON CORP</title>
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        <name>LAS VEGAS SANDS CORP.</name>
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        <name>InterDigital, Inc.</name>
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        <name>Immunome Inc</name>
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        <name>Kodiak Sciences Inc</name>
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        <name>Invesco DB Commodity Index Tracking Fund</name>
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        <name>MADRIGAL PHARMACEUTICALS, INC.</name>
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        <name>MASTERBRAND, INC.</name>
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        <name>G-III APPAREL GROUP, LTD.</name>
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        <name>iShares Trust - iShares Russell 1000 Value ETF</name>
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        <name>COMMVAULT SYSTEMS, INC.</name>
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        <name>FERGUSON ENTERPRISES INC.</name>
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        <name>KFORCE INC.</name>
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        <name>STEEL DYNAMICS, INC.</name>
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        <name>TAYLOR MORRISON HOME CORPORATION</name>
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        <name>COTERRA ENERGY INC.</name>
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        <name>NEWMARK GROUP, INC.</name>
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        <name>CONSENSUS CLOUD SOLUTIONS, INC.</name>
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        <name>Versant Media Group, Inc.</name>
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        <name>CORCEPT THERAPEUTICS INCORPORATED</name>
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        <name>AVISTA CORPORATION</name>
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        <name>CORVEL CORPORATION</name>
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        <name>WINNEBAGO INDUSTRIES, INC.</name>
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        <name>Invesco RAFI Emerging Markets ETF</name>
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        <name>GE VERNOVA INC.</name>
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        <name>HSBC US GOVERNMENT MONEY MARKET FUND</name>
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      <invstOrSec>
        <name>ALPHABET INC.</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC CLASS A</title>
        <cusip>02079K305</cusip>
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          <isin value="US02079K3059"/>
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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>
      <invstOrSec>
        <name>Vanguard FTSE All World ex US Index Fund Investor Shares</name>
        <lei>N/A</lei>
        <title>VANGUARD FTSE ALL WORLD EX US ETF</title>
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          <isin value="US9220427754"/>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Beam Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>BEAM THERAPEUTICS INC</title>
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          <isin value="US07373V1052"/>
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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>NATIONAL HEALTH INVESTORS, 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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INSIGHT ENTERPRISES, 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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>A10 NETWORKS, INC.</name>
        <lei>549300UQD4IWUML81Q35</lei>
        <title>A10 NETWORKS 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>THE PROGRESSIVE CORPORATION</name>
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        <title>PROGRESSIVE CORP</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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        <name>CF INDUSTRIES HOLDINGS, INC.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>GENERAL MOTORS COMPANY</name>
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        <title>GENERAL MOTORS CO</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>VictoryShares International Free Cash Flow Gr ETF</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>KOHL'S CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MILLICOM INTERNATIONAL CELLULAR S.A.</name>
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        <title>MILLICOM INTERNATIONAL CELLULAR SA</title>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>OPTION CARE HEALTH, INC.</name>
        <lei>549300DI3Q5ACSYJRI17</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ATLANTICUS HOLDINGS CORPORATION</name>
        <lei>N/A</lei>
        <title>ATLANTICUS HOLDINGS CORP</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>INTERNATIONAL BANCSHARES CORPORATION</name>
        <lei>549300Y16R531AU8TX77</lei>
        <title>INTERNATIONAL BANCSHARES CORPORATION</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Vanguard European Stock Index Fund</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>URBAN EDGE PROPERTIES</name>
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        <title>URBAN EDGE PROPERTIES</title>
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        <name>SIGA TECHNOLOGIES, INC.</name>
        <lei>N/A</lei>
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        <name>SYSCO CORPORATION</name>
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        <name>ZOOM COMMUNICATIONS, INC.</name>
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        <name>LANTHEUS HOLDINGS, INC.</name>
        <lei>5299005HUB5IOJGO7S39</lei>
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        <name>COGENT BIOSCIENCES, INC.</name>
        <lei>N/A</lei>
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        <name>AMERICAN EAGLE OUTFITTERS, INC.</name>
        <lei>5299001Z9HXK01DHW793</lei>
        <title>AMERICAN EAGLE OUTFITTERS</title>
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        <isRestrictedSec>N</isRestrictedSec>

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

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ROYALTY PHARMA PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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

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

        <fairValLevel>1</fairValLevel>
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        <name>Nexxen International Ltd</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Vanguard International Equity Index Funds - Vanguard Emerging Markets Stock Inde</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>FIRST FINANCIAL BANCORP.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>LOCKHEED MARTIN CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>KLA CORPORATION</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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        <name>BOOKING HOLDINGS INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>State Street SPDR S&amp;P Emerging Mkts Small Cap ETF</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>ADOBE INC.</name>
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        <name>COSTAMARE INC.</name>
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        <title>COSTAMARE INC</title>
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        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>PALANTIR TECHNOLOGIES INC.</name>
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        <name>SM ENERGY COMPANY</name>
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        <name>US FOODS HOLDING CORP.</name>
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        <name>Rhythm Pharmaceuticals Inc</name>
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        <name>SYNCHRONY FINANCIAL</name>
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        <name>Kontoor Brands, Inc.</name>
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        <name>AMAZON.COM, INC.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
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        <name>HARMONY BIOSCIENCES HOLDINGS, INC.</name>
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        <name>The Bank of New York Mellon Corporation</name>
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        <name>iShares MSCI Intl Quality Factor ETF</name>
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        <name>GARRETT MOTION INC.</name>
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        <name>AnaptysBio Inc</name>
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        <name>ADAPTHEALTH CORP.</name>
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        <name>iShares MSCI Canada ETF</name>
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        <name>RALPH LAUREN CORPORATION</name>
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        <name>BLACK HILLS CORPORATION</name>
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        <name>SCANSOURCE, INC.</name>
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        <name>The Travelers Companies, Inc.</name>
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        <name>RANGER ENERGY SERVICES, INC.</name>
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        <name>ALPHABET INC.</name>
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        <name>POWER SOLUTIONS INTERNATIONAL, INC.</name>
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        <name>COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION</name>
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        <name>Nurix Therapeutics Inc</name>
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        <name>HALLIBURTON COMPANY</name>
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        <name>Relay Therapeutics Inc</name>
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        <name>BRIDGEBIO PHARMA, INC.</name>
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        <name>CRH PUBLIC LIMITED COMPANY</name>
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        <name>SYLVAMO CORPORATION</name>
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        <name>INSTALLED BUILDING PRODUCTS, INC.</name>
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        <name>SCORPIO TANKERS INC.</name>
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        <name>IRadimed Corp</name>
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        <name>Vanguard Tax Managed Fund FTSE Developed Markets ETF</name>
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        <name>SL GREEN REALTY CORP.</name>
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        <name>ADVANSIX INC.</name>
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        <name>ASBURY AUTOMOTIVE GROUP, INC.</name>
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        <name>CISCO SYSTEMS, INC.</name>
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        <name>MONARCH CASINO &amp; RESORT, INC.</name>
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        <name>ENOVA INTERNATIONAL, INC.</name>
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        <name>TRINET GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CINCINNATI FINANCIAL CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DIME COMMUNITY BANCSHARES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Schwab Fundamental EM Equity ETF</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>DELUXE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MSILF Government Portfolio</name>
        <lei>N/A</lei>
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        <assetCat>STIV</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Olema Pharmaceuticals Inc</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Signet Jewelers Limited</name>
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        <title>SIGNET JEWELERS LTD</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BUILD-A-BEAR WORKSHOP, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PAGERDUTY, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>INNOVIVA, INC.</name>
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        <name>TEEKAY CORPORATION LTD.</name>
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        <name>Grail Inc</name>
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        <name>NETAPP, INC.</name>
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        <name>AMALGAMATED FINANCIAL CORP.</name>
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        <name>CABLE ONE, INC.</name>
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        <name>VictoryShares Core Plus Bd ETF</name>
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        <title>VICTORYSHARES CORE PLUS BOND ETF</title>
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        <name>INTELLIA THERAPEUTICS, INC.</name>
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        <name>PJT PARTNERS INC.</name>
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        <name>CACTUS, INC.</name>
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        <name>Cushman &amp; Wakefield Ltd.</name>
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        <name>CORE NATURAL RESOURCES, INC.</name>
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        <name>Philip Morris International Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTERNATIONAL INC</title>
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        <lei>5493009O8F3QQJTCQR75</lei>
        <title>VISHAY INTERTECHNOLOGY INC</title>
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          <isin value="US9282981086"/>
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        <valUSD>42550.56000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CLEAR SECURE, INC.</name>
        <lei>N/A</lei>
        <title>CLEAR SECURE INC</title>
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          <other otherDesc="Internal" value="18467V109"/>
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        <curCd>USD</curCd>
        <valUSD>156620.80000000</valUSD>
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        <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>
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      <invstOrSec>
        <name>iShares Core S&amp;P 500 ETF</name>
        <lei>5493007M4YMN8XL48C14</lei>
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        <curCd>USD</curCd>
        <valUSD>23707778.20000000</valUSD>
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        <assetConditional assetCat="OTHER" desc="ETF"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tango Therapeutics Inc</name>
        <lei>N/A</lei>
        <title>TANGO THERAPEUTICS INC</title>
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        <identifiers>
          <isin value="US87583X1090"/>
          <other otherDesc="Internal" value="87583X109"/>
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        <balance>1646.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18336.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="18570.60000000"/>
        </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>