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        <name>Orange County Water District, California, Revenue Certificates of Participation, Adjustable Rate Series 2003A</name>
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        <name>San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Junior Lien Series 2014B</name>
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        <name>Victor Valley Union High School District, San Bernardino County, California, General Obligation Bonds, 20008 Election Series 2009A</name>
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        <cusip>926055GV0</cusip>
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        <name>California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Refunding Series 2017A</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Refunding Series 2017A</title>
        <cusip>13048T4P5</cusip>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2017A</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2017A</title>
        <cusip>13032UNY0</cusip>
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          <isin value="US13032UNY00"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2017C</name>
        <lei>549300S8NXV6YU61GG95</lei>
        <title>Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2017C</title>
        <cusip>5444953R3</cusip>
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        <invCountry>US</invCountry>

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        <name>San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2017A</name>
        <lei>N/A</lei>
        <title>San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2017A</title>
        <cusip>79739GFR2</cusip>
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        <name>San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2017A</name>
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        <cusip>79739GGP5</cusip>
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        <name>California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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      <invstOrSec>
        <name>California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A</title>
        <cusip>13048TP49</cusip>
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        <name>California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2016A</name>
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        <cusip>13059TCR8</cusip>
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        <name>California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2016C</name>
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        <cusip>13059TDF3</cusip>
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        <name>Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D</name>
        <lei>N/A</lei>
        <title>Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D</title>
        <cusip>40065NCD7</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series 2016A</name>
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          <isin value="US544525UH91"/>
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        <fairValLevel>2</fairValLevel>
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        <name>San Francisco City and County Redevelopment Agency Successor Agency, California, Special Tax Bonds, Community Facilities District 7, Hunters Point Shi</name>
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        <cusip>79772ACS4</cusip>
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          <isin value="US79772ACS42"/>
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      <invstOrSec>
        <name>Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series 2011</name>
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        <cusip>826642KB5</cusip>
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        <name>Yosemite Community College District, California, General Obligation Bonds, Capital Appreciation, Election 2004, Series 2010D</name>
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      <invstOrSec>
        <name>Dublin, California, Special Tax Bonds, Community Facilities District 2015-1 Dublin Crossing Improvement Area 1, Series 2017</name>
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        <cusip>26362PAB7</cusip>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bakersfield City School District, Kern County, California, General Obligation Bonds, Series 2012C</name>
        <lei>N/A</lei>
        <title>Bakersfield City School District, Kern County, California, General Obligation Bonds, Series 2012C</title>
        <cusip>057507HX6</cusip>
        <identifiers>
          <isin value="US057507HX69"/>
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        <balance>5570000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-05-01</maturityDt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority, Revenue Bonds, Children's Hospital Los Angeles, Series 2017A</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, Revenue Bonds, Children's Hospital Los Angeles, Series 2017A</title>
        <cusip>13032UNG9</cusip>
        <identifiers>
          <isin value="US13032UNG93"/>
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        <balance>3850000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority Charter School Revenue Bonds, John Adams Academies, Inc. Project, Series 2015A</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority Charter School Revenue Bonds, John Adams Academies, Inc. Project, Series 2015A</title>
        <cusip>13048DBG2</cusip>
        <identifiers>
          <isin value="US13048DBG25"/>
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        <balance>500000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-10-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A</title>
        <cusip>13048TN90</cusip>
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          <isin value="US13048TN908"/>
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        <balance>1810000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-11-01</maturityDt>
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      <invstOrSec>
        <name>California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A</title>
        <cusip>13048TP31</cusip>
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        <balance>6750000.00000000</balance>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>California Municipal Finance Authority, Revenue Bonds, Goodwill Industries of Sacramento Valley &amp; Northern Nevada Project, Series 2014A</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Revenue Bonds, Goodwill Industries of Sacramento Valley &amp; Northern Nevada Project, Series 2014A</title>
        <cusip>13048TSX2</cusip>
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          <isin value="US13048TSX27"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2011A</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2011A</title>
        <cusip>13078YGQ2</cusip>
        <identifiers>
          <isin value="US13078YGQ26"/>
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        <balance>335000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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        <name>California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2016B</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2016B</title>
        <cusip>13078YKZ7</cusip>
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          <isin value="US13078YKZ78"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A</name>
        <lei>N/A</lei>
        <title>Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A</title>
        <cusip>38122NGM8</cusip>
        <identifiers>
          <isin value="US38122NGM83"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lammersville Joint Unified School District, San Joaquin County, California, Special Tax Bonds, Community Facilities District 2014-1 Improvement Area 1</name>
        <lei>N/A</lei>
        <title>Lammersville Joint Unified School District, San Joaquin County, California, Special Tax Bonds, Community Facilities District 2014-1 Improvement Area 1</title>
        <cusip>513533DK2</cusip>
        <identifiers>
          <isin value="US513533DK27"/>
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        <balance>1400000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017</name>
        <lei>N/A</lei>
        <title>Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017</title>
        <cusip>87972YFZ4</cusip>
        <identifiers>
          <isin value="US87972YFZ43"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Brea and Olinda Unified School District, Orange County, California, Certificates of Participation Refunding, Series 2002A</name>
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        <name>California Community College Financing Authority, Lease Revenue Bonds, Refunding Series 2003</name>
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        <name>California Infrastructure and Economic Development Bank, Revenue Bonds, North County Center for Self-Sufficiency Corporation, Series 2004</name>
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      <invstOrSec>
        <name>California Public Finance Authority, Revenue Bonds, Henry Mayo Newhall Hospital, Series 2017</name>
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      <invstOrSec>
        <name>California School Finance Authority, Charter School Revenue Bonds, Rocketship Education - Obligated Group, Series 2016A</name>
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        <name>California School Finance Authority, Charter School Revenue Bonds, Kepler Neighborhood School, Series 2017A</name>
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        <name>California Statewide Community Development Authority, Multifamily Housing Revenue Senior Bonds, Westgate Courtyards Apartments, Series 2001X-1</name>
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        <name>California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System/West, Series 2015A</name>
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        <name>Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, Capital Appreciation, Election 2006 Refunding Series 200</name>
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        <name>Huntington Beach, California, Special Tax Bonds, Community Facilities District 2003-1 Huntington Center, Refunding Series 2013</name>
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        <name>Independent Cities Finance Authority, California, Mobile Home Park Revenue Bonds, Palomar Estates West, Refunding Series 2015</name>
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      <invstOrSec>
        <name>Indio, California, Special Tax Bonds, Community Facilities District 2004-3 Terra Lago, Improvement Area 1, Refunding Series 2015</name>
        <lei>N/A</lei>
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        <name>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2016B</name>
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        <name>Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2017A</name>
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        <name>Modesto, California, Special Tax Bonds, Community Facilities District 2004-1 Village One 2, Refunding Series 2014</name>
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        <name>Oakland Redevelopment Successor Agency, California, Tax Allocation Bonds, Refunding Subordinated Series 2015-TE</name>
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        <name>Orange County, California, Special Tax Bonds, Community Facilities District 2015-1 Esencia Village, Series 2015A</name>
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        <name>Paramount Unified School District, Los Angeles County, California, General Obligation Bonds, Election 2006 Series 2011</name>
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        <name>Roseville, California, Special Tax Bonds, Community Facilities District 1 Westpark, Refunding Series 2015</name>
        <lei>549300OH100KESVPND17</lei>
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        <lei>549300OH100KESVPND17</lei>
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        <name>San Diego Community College District, San Diego County, California, General Obligation Bonds, Refunding Series 2016</name>
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        <name>San Diego County, California, Limited Revenue Obligations, Sanford Burnham Prebys Medical Discovery Institute, Series 2015A</name>
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        <cusip>79742YAN2</cusip>
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        <name>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2016B</name>
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        <name>San Leandro Unified School District, Alameda County, California, General Obligation Bonds, Election 2006 Series 2010C</name>
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        <name>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Governmental Purpose Second Series 2017B</name>
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        <name>Morgan Hill Unified School District, Santa Clara County, California, General Obligation Bonds, Election 2012 Series 2017B</name>
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        <name>California Statewide Communities Development Authority, Revenue Bonds, Marin General Hospital, Green Series 2018A</name>
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        <name>California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2018A</name>
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        <name>California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A</name>
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        <name>Beaumont, California, Special Tax Bonds, Community Facilities District 93-1 Improvement Area 8D, Series 2018A</name>
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        <name>Grossmont-Cuyamaca Community College District, California, General Obligation Bonds, Refunding Series 2018</name>
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        <name>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018C</name>
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        <name>Corona, California, Special Tax Bonds, Community Facilities District 2018-1 Bedford, Series 2018A</name>
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        <title>Corona, California, Special Tax Bonds, Community Facilities District 2018-1 Bedford, Series 2018A</title>
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        <name>California State University, Systemwide Revenue Bonds, Series 2018A</name>
        <lei>N/A</lei>
        <title>California State University, Systemwide Revenue Bonds, Series 2018A</title>
        <cusip>13077DEX6</cusip>
        <identifiers>
          <isin value="US13077DEX66"/>
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        <name>California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A</name>
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        <name>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2018D</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2018D</title>
        <cusip>79766DLF4</cusip>
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        <name>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018C</name>
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        <title>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018C</title>
        <cusip>544445FY0</cusip>
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        <name>Hacienda La Puente Unified School District, Los Angeles County, California, General Obligation Bonds, 2016 Election, Series 2017A</name>
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        <cusip>40450REE7</cusip>
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        <name>Antelope Valley Community College District, Los Angeles County, California, General Obligation Bonds, Election 2016 Series 2017A</name>
        <lei>N/A</lei>
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        <cusip>03667PFE7</cusip>
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      <invstOrSec>
        <name>California State University, Systemwide Revenue Bonds, Series 2018A</name>
        <lei>N/A</lei>
        <title>California State University, Systemwide Revenue Bonds, Series 2018A</title>
        <cusip>13077DEY4</cusip>
        <identifiers>
          <isin value="US13077DEY40"/>
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      <invstOrSec>
        <name>Stockton Public Financing Authority, California, Revenue Bonds, Arch Road East Community Facility District 99-02, Series 2018A</name>
        <lei>N/A</lei>
        <title>Stockton Public Financing Authority, California, Revenue Bonds, Arch Road East Community Facility District 99-02, Series 2018A</title>
        <cusip>861395HU8</cusip>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Series 2018A</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Series 2018A</title>
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        <invCountry>US</invCountry>

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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2019A</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2019A</title>
        <cusip>79766DMB2</cusip>
        <identifiers>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, San Diego County Water Authority Desalination Project Pipeline, Refu</name>
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        <name>Los Angeles County Metropolitan Transportation Authority, California, Proposition C Sales Tax Revenue Bonds, Green Senior Lien Series 2019A</name>
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        <name>California Statewide Communities Development Authority, California, Redlands Community Hospital, Revenue Bonds, Series 2016</name>
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        <name>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1</name>
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        <name>California Community Housing Agency, Workforce Housing Revenue Bonds, Annadel Apartments, Series 2019A</name>
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        <name>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2019D</name>
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        <name>Dublin, California, Special Tax Bonds, Community Facilities District 2015-1 Dublin Crossing Improvement Area 2, Series 2019</name>
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        <name>Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 19 Mangini Ranch, Series 2019</name>
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        <name>California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series2019-1</name>
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        <name>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2</name>
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        <name>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2</name>
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        <name>Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2018, Series 2019A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2019E</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2019E</title>
        <cusip>79766DRZ4</cusip>
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          <isin value="US79766DRZ41"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Community Housing Agency, California, Essential Housing Revenue Bonds, Verdant at Green Valley Apartments, Series 2019A</name>
        <lei>N/A</lei>
        <title>California Community Housing Agency, California, Essential Housing Revenue Bonds, Verdant at Green Valley Apartments, Series 2019A</title>
        <cusip>13013FAA2</cusip>
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          <isin value="US13013FAA21"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2019D</name>
        <lei>N/A</lei>
        <title>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2019D</title>
        <cusip>544445MA4</cusip>
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          <isin value="US544445MA46"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority, Revenue Bonds, City of Hope National Medical Center, Series 2019</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, Revenue Bonds, City of Hope National Medical Center, Series 2019</title>
        <cusip>13032UUN6</cusip>
        <identifiers>
          <isin value="US13032UUN61"/>
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        <balance>2700000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2017A</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2017A</title>
        <cusip>79766DRK7</cusip>
        <identifiers>
          <isin value="US79766DRK71"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California State University, Systemwide Revenue Bonds, Series 2017A</name>
        <lei>N/A</lei>
        <title>California State University, Systemwide Revenue Bonds, Series 2017A</title>
        <cusip>13077DAY8</cusip>
        <identifiers>
          <isin value="US13077DAY85"/>
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        <balance>15325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15375390.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, Election 2014, Series 2019C</name>
        <lei>N/A</lei>
        <title>Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds, Election 2014, Series 2019C</title>
        <cusip>219764RT6</cusip>
        <identifiers>
          <isin value="US219764RT67"/>
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        <balance>4900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4289578.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System/West, Series 2018A</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Revenue Bonds, Adventist Health System/West, Series 2018A</title>
        <cusip>13080SWJ9</cusip>
        <identifiers>
          <isin value="US13080SWJ94"/>
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        <balance>10875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10447020.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Series 2019E-1</name>
        <lei>N/A</lei>
        <title>Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Series 2019E-1</title>
        <cusip>54473ETT1</cusip>
        <identifiers>
          <isin value="US54473ETT19"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7111435.10000000</valUSD>
        <pctVal>0.440054280799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2019B</name>
        <lei>N/A</lei>
        <title>San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2019B</title>
        <cusip>79739GMD5</cusip>
        <identifiers>
          <isin value="US79739GMD50"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3950327.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2019E</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2019E</title>
        <cusip>79766DRY7</cusip>
        <identifiers>
          <isin value="US79766DRY75"/>
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        <balance>1025000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2019F</name>
        <lei>N/A</lei>
        <title>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2019F</title>
        <cusip>544445NR6</cusip>
        <identifiers>
          <isin value="US544445NR61"/>
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        <balance>3600000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series 2019-2</name>
        <lei>549300BOPCVLBA552Z14</lei>
        <title>California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series 2019-2</title>
        <cusip>13033DAC9</cusip>
        <identifiers>
          <isin value="US13033DAC92"/>
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        <balance>10175005.60000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10319417.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California State University, Systemwide Revenue Bonds, Series 2019A</name>
        <lei>N/A</lei>
        <title>California State University, Systemwide Revenue Bonds, Series 2019A</title>
        <cusip>13077DHF2</cusip>
        <identifiers>
          <isin value="US13077DHF24"/>
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        <balance>5210000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California School Finance Authority, Charter School Revenue Bonds, Arts in Action Charter Schools - Obligated Group, Series 2020A</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Charter School Revenue Bonds, Arts in Action Charter Schools - Obligated Group, Series 2020A</title>
        <cusip>13058TJE1</cusip>
        <identifiers>
          <isin value="US13058TJE10"/>
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        <balance>1915000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1481480.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>University of California, General Revenue Bonds, Limited Project Series 2018O</name>
        <lei>N/A</lei>
        <title>University of California, General Revenue Bonds, Limited Project Series 2018O</title>
        <cusip>91412HDA8</cusip>
        <identifiers>
          <isin value="US91412HDA86"/>
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        <balance>11620000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11783858.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A</name>
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        <name>California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series 2021-1</name>
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        <name>California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2016</name>
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        <name>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Green Series 2022G</name>
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        <name>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2019D</name>
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        <name>California Statewide Community Development Authority, Health Revenue Bonds, Enloe Medical Center, Refunding Series 2022A</name>
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        <name>Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2022B</name>
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        <name>Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2022A-1</name>
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        <name>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2021D</name>
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        <name>Los Angeles Department of Water and Power, California, Water System Revenue Bonds, Series 2022D</name>
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        <name>Irvine Facilities Financing Authority, California, Special Tax Revenue Bonds, Great Park Infrastructure Project Series 2023A</name>
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        <name>California School Finance Authority, Charter School Revenue Bonds, Stem Preparatory Schools - Obligated Group, Series 2023A</name>
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        <name>California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Social Certificates Series 2023-1</name>
        <lei>549300BOPCVLBA552Z14</lei>
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        <name>California School Finance Authority, Charter School Revenue Bonds, Partnerships to Uplift Communities Project, Refunding Social Series 2023</name>
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        <cusip>13058TSF8</cusip>
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          <isin value="US13058TSF83"/>
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        <name>California School Finance Authority, School Facility Revenue Bonds, Value Schools, Refunding Series 2023A</name>
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        <cusip>13059THL6</cusip>
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        <name>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding Subordinate Lien Private Activity Series 2</name>
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        <name>Menifee, California, Special Tax Bonds, Community Facilities District 2021-1, Banner Park Series 2023A</name>
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          <isin value="US58680WDX92"/>
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        <name>Val Verde Unified School District, California, Special Tax Bonds, Community Facilities District 2018-2 Stratford Ranch, Improvement Area 2 Series 2023</name>
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        <name>California State Public Works Board, Lease Revenue Bonds, California Air Resources Board, Southern California Headquarters - Mary D. Nichols Campus, G</name>
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        <issuerCat>MUN</issuerCat>
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        <name>California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2023</name>
        <lei>N/A</lei>
        <title>California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2023</title>
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        <issuerCat>MUN</issuerCat>
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      <invstOrSec>
        <name>California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Series 2023</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>California School Finance Authority, Charter School Revenue Bonds, Community High School Foundation Inc, Series 2017</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Charter School Revenue Bonds, Community High School Foundation Inc, Series 2017</title>
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      <invstOrSec>
        <name>California School Finance Authority, Charter School Revenue Bonds, Community High School Foundation Inc, Series 2017</name>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority, California, Airport Revenue Bonds, International Senior Series 2023B</name>
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        <name>Southern California Public Power Authority, Southern Transmission System Renewal Project Revenue Bonds, Series 2023-1A</name>
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        <name>Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2023D</name>
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        <name>Tracy, California, Special Tax Bonds, Community Facilities District 2016-1 Tracy Hills,  Improvement Area 2, Series 2023</name>
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        <name>San Francisco Airport Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2023C</name>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024A</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024A</title>
        <cusip>13013JDR4</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2023E</name>
        <lei>549300S8NXV6YU61GG95</lei>
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        <name>Stockton, California, Special Tax Bonds, Community Facilities District 2018-2 Westlake Villages II Improvement Area 3, Series 2024</name>
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        <title>Stockton, California, Special Tax Bonds, Community Facilities District 2018-2 Westlake Villages II Improvement Area 3, Series 2024</title>
        <cusip>861341TG0</cusip>
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        <name>Stockton, California, Special Tax Bonds, Community Facilities District 2018-2 Westlake Villages II Improvement Area 3, Series 2024</name>
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        <name>Stockton, California, Special Tax Bonds, Community Facilities District 2018-2 Westlake Villages II Improvement Area 3, Series 2024</name>
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        <name>California Statewide Community Development Authority, Certificates of Participation, Methodist Hospital of Southern California, Series 2018</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <name>California Infrastructure and Economic Development Bank, Revenue Bonds, California Science Center Phase III Project, Green Series 2021B</name>
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        <cusip>13034AU81</cusip>
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        <invCountry>US</invCountry>

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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Francisco Airport Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2024A</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco Airport Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2024A</title>
        <cusip>79766DWX3</cusip>
        <identifiers>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2018D</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2018D</title>
        <cusip>79766DWA3</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2018D</name>
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      <invstOrSec>
        <name>Southern California Public Power Authority, California, Revenue Bonds, Clean Energy Project Revenue Bonds, Series 2024A</name>
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      <invstOrSec>
        <name>Burbank-Glendale-Pasadena Airport Authority, California, Airport Revenue Bonds, Senior Series 2024B</name>
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        <name>California Infrastructure and Economic Development Bank, Revenue Bonds, Adventist Health Energy Projects, Series 2024A</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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      <invstOrSec>
        <name>California Infrastructure and Economic Development Bank, Revenue Bonds, Adventist Health Energy Projects, Series 2024A</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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        <name>Irvine Ranch Water District, California, Certificates of Participation, Irvine Ranch Water District Series 2016</name>
        <lei>2ZRS7W19IBMY48SFBI68</lei>
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        <cusip>463641CP3</cusip>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>California State University, Systemwide Revenue Bonds, Series 2024A</name>
        <lei>N/A</lei>
        <title>California State University, Systemwide Revenue Bonds, Series 2024A</title>
        <cusip>13077DUU4</cusip>
        <identifiers>
          <isin value="US13077DUU44"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
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      <invstOrSec>
        <name>California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024B</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024B</title>
        <cusip>13013JEA0</cusip>
        <identifiers>
          <isin value="US13013JEA07"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects, Social Series 2024A</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects, Social Series 2024A</title>
        <cusip>13049SGD0</cusip>
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          <isin value="US13049SGD09"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>California Enterprise Development Authority, Revenue Bonds, Castilleja School Foundation Series 2024</name>
        <lei>549300544P6FSHU1HB46</lei>
        <title>California Enterprise Development Authority, Revenue Bonds, Castilleja School Foundation Series 2024</title>
        <cusip>13067REJ8</cusip>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024C</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024C</title>
        <cusip>13013JEB8</cusip>
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      <invstOrSec>
        <name>California Department of Veterans Affairs, Home Purchase Revenue Bonds, Series 2024A</name>
        <lei>N/A</lei>
        <title>California Department of Veterans Affairs, Home Purchase Revenue Bonds, Series 2024A</title>
        <cusip>130658TY3</cusip>
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        <name>Antioch Unified School District, Contra Costa County, California, General Obligation Bonds, Election 2024 Series 2024A</name>
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        <cusip>037105PB3</cusip>
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        <name>Antioch Unified School District, Contra Costa County, California, General Obligation Bonds, Election 2024 Series 2024A</name>
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      <invstOrSec>
        <name>California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023E</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023E</title>
        <cusip>13013JEP7</cusip>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health, Series 2020A</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health, Series 2020A</title>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health, Series 2020A</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health, Series 2020A</title>
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        <name>El Dorado Irrigation District, California, Certificates of Participation, Revenue Bonds, Series 2024A</name>
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        <name>Central Valley Energy Authority, California, Commodity Supply Revenue Bonds, Prepaid Pacific Life Insurance, Series 2025</name>
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        <name>San Francisco Airport Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2025A</name>
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        <lei>54930055TIDYHNDP4F84</lei>
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        <cusip>79766DXQ7</cusip>
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        <name>San Joaquin Valley Clean Energy Authority, California, Clean Energy Project Revenue Bonds, Green Series 2025A</name>
        <lei>254900VA5DFN33OVGH87</lei>
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        <cusip>79811YAK4</cusip>
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        <name>California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Refunding Series 2015</name>
        <lei>N/A</lei>
        <title>California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Refunding Series 2015</title>
        <cusip>130179YB4</cusip>
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        <name>California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Refunding Series 2015</name>
        <lei>N/A</lei>
        <title>California Educational Facilities Authority, Revenue Bonds, University of the Pacific, Refunding Series 2015</title>
        <cusip>130179YC2</cusip>
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        <name>Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2025A</name>
        <lei>549300S8NXV6YU61GG95</lei>
        <title>Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2025A</title>
        <cusip>544532PV0</cusip>
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        <name>California Infrastructure and Economic Development Bank, Revenue Bonds, UCSF Clinical and Life Sciences Building, Series 2025</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>California Infrastructure and Economic Development Bank, Revenue Bonds, UCSF Clinical and Life Sciences Building, Series 2025</title>
        <cusip>13034A7C8</cusip>
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        <name>Los Angeles County, California, Tax and Revenue Anticipation Notes, Series 2025-26</name>
        <lei>254900NGUPWO7FB6II89</lei>
        <title>Los Angeles County, California, Tax and Revenue Anticipation Notes, Series 2025-26</title>
        <cusip>544657JC4</cusip>
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        <name>Los Angeles, California, General Obligation Bonds, Tax &amp; Revenue Anticipation Notes, Series 2025</name>
        <lei>549300E7TO710PTXPJ65</lei>
        <title>Los Angeles, California, General Obligation Bonds, Tax &amp; Revenue Anticipation Notes, Series 2025</title>
        <cusip>544351SF7</cusip>
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        <invCountry>US</invCountry>

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        <name>California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2025D</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2025D</title>
        <cusip>13013JGR1</cusip>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>California Municipal Finance Authority, Academic Facilities Revenue Bonds, Scripps College Series 2025</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Academic Facilities Revenue Bonds, Scripps College Series 2025</title>
        <cusip>130491AS2</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Series 2025J</name>
        <lei>N/A</lei>
        <title>Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Series 2025J</title>
        <cusip>54473EZP2</cusip>
        <identifiers>
          <isin value="US54473EZP23"/>
        </identifiers>
        <balance>5920000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6170266.82000000</valUSD>
        <pctVal>0.381814962751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-08-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Nuveen Multistate Trust II</ncom:nameOfApplicant>
      <ncom:signature>Gina Spunder</ncom:signature>
      <ncom:signerName>Gina Spunder</ncom:signerName>
      <ncom:title>Director, Fund Financial Reporting</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
