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        <name>Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Saint Tammany Parish GOMESA Project</name>
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        <name>Cameron Parish School District 15, Louisiana, General Obligtion Bonds, Series 2021</name>
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        <name>Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Tulane University, Refunding Series 2020A</name>
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        <name>Lafayette Public Trust Financing Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc. Project, Refunding Series 2012</name>
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        <name>Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Terrebonne Parish GOMESA Project, S</name>
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        <name>Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2009A</name>
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        <name>Tangipahoa Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, North Oaks Health System Project, Refunding Series 2021</name>
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        <name>Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A</name>
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        <name>Saint Tammany Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, St. Tammany Parish Hospital Project, Refunding Series 2018A</name>
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        <title>Saint Tammany Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, St. Tammany Parish Hospital Project, Refunding Series 2018A</title>
        <cusip>793556CL3</cusip>
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        <name>Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2024A</name>
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        <name>Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Refunding Series 2016A</name>
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        <cusip>546456EF7</cusip>
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        <name>Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Refunding Second Lien Series 2024A</name>
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        <cusip>546475WR1</cusip>
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        <name>Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Refunding Series 2023A</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Refunding Series 2023A</title>
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        <name>Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, McNeese State University Student Parking - Cow</name>
        <lei>5493004WIZ1HV87IVF85</lei>
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        <name>New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Gilf Opportunity Zone Project, Refunding Series 2019</name>
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        <name>Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2025A</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2025A</title>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <name>Cameron Parish School District 15, Louisiana, General Obligtion Bonds, Series 2021</name>
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      <invstOrSec>
        <name>Louisiana Public Facilities Authority, Revenue Bonds, Archdiocese of New Orleans, Refunding Series 2017</name>
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        <name>Saint John the Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation Project, Refunding Series 2017C</name>
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      <invstOrSec>
        <name>New Orleans Aviation Board, Louisiana, Special Facility Revenue Bonds, Parking Facilities Corporation Consolidated Garage System, Series 2018A</name>
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      <invstOrSec>
        <name>Livingston Parish School District 1, Louisiana, General Obligation Bonds, Series 2021</name>
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        <name>Louisiana State Correctional Facilities Corporation, Lease Revenue Bonds, Correctional Institution for Women Series 2023</name>
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        <name>The Industrial Development Authority of the City of Saint Louis, Missouri, Development Financing Revenue Bonds, Ballpark Village Development Project, </name>
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      <invstOrSec>
        <name>Louisiana Public Facilities Authority, Revenue Bonds, Cleco Power LLC Project, Series 2008</name>
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        <name>New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Series 2024C-2</name>
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        <name>Louisiana Public Facilities Authority, Hospital Revenue Bonds, Louisiana Children's Medical Center Hospital, Series 2015A-1. Fixed Rate Mode</name>
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        <name>Louisiana Publics Facilities Authority, Louisiana, Revenue Bonds, I-10 Calcasieu River Bridge Public-Private Partnership Project, Senior Lien Series 2</name>
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        <name>Louisiana Public Facilities Authority, Revenue Bonds, Loyola University Project, Refunding Series 2017</name>
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        <name>Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Bossier City Projects, Series 2015</name>
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        <name>Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2021D</name>
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        <name>Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Ragin' Cajun Facilities Inc.- Student Housing </name>
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        <name>Louisiana Public Facilities Authority, Lease Revenue Bonds, Provident Group-Flagship Properties LLC - Louisiana State University GreenHouse District P</name>
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        <name>Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A</name>
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        <name>Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2025A</name>
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        <name>Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc.- Athle</name>
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        <name>Livingston Parish School District 1, Louisiana, General Obligation Bonds, Series 2021</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Hospital Revenue Bonds, (Hospital Auxi</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lakeshore Villages Master Community Development District, Louisiana, Special Assessment Revenue Bonds, Series 2022</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Colorado High Performance Transportation Enterprise, C-470 Express Lanes Revenue Bonds, Senior Lien Series 2017</name>
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          <isin value="US19648DAC39"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Plaquemines Port, Harbor and Terminal District, Facilities Revenue Bonds, NOLA Terminal LLC Project Dock and Wharf Series 2024A</name>
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          <isin value="US727521AA48"/>
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        <name>Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, New Orleans GOMESA Project, Series </name>
        <lei>5493004WIZ1HV87IVF85</lei>
        <title>Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, New Orleans GOMESA Project, Series </title>
        <cusip>54628CUF7</cusip>
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          <isin value="US54628CUF75"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pineville, Louisiana, Utility Revenue Bonds, Series 2022</name>
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        <title>Pineville, Louisiana, Utility Revenue Bonds, Series 2022</title>
        <cusip>723376JE0</cusip>
        <identifiers>
          <isin value="US723376JE08"/>
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        <balance>1505000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1</title>
        <cusip>74529JQG3</cusip>
        <identifiers>
          <isin value="US74529JQG30"/>
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        <balance>344000.00000000</balance>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-07-01</maturityDt>
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      <invstOrSec>
        <name>Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Entergy Lousiana, LLC Project, Refu</name>
        <lei>5493004WIZ1HV87IVF85</lei>
        <title>Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Entergy Lousiana, LLC Project, Refu</title>
        <cusip>54628CUH3</cusip>
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          <isin value="US54628CUH32"/>
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        <balance>1000000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds, Young Audiences Charter School, Series 2019A</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds, Young Audiences Charter School, Series 2019A</title>
        <cusip>546399HV1</cusip>
        <identifiers>
          <isin value="US546399HV15"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Series 2023A</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Loyola University of New Orleans Project, Series 2023A</title>
        <cusip>546399RF5</cusip>
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          <isin value="US546399RF54"/>
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        <invCountry>US</invCountry>

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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Shreveport, Louisiana, Water and Sewer Revenue Bonds, Series 2016B</name>
        <lei>N/A</lei>
        <title>Shreveport, Louisiana, Water and Sewer Revenue Bonds, Series 2016B</title>
        <cusip>825485VD4</cusip>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Louisiana Public Facilities Authority, Solid Waste Disposal Facility Revenue Bonds,  Lousiana Pellets Inc Project, Series 2015</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Solid Waste Disposal Facility Revenue Bonds,  Lousiana Pellets Inc Project, Series 2015</title>
        <cusip>54640TAG4</cusip>
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          <isin value="US54640TAG40"/>
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        <balance>1000000.00000000</balance>
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          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B</name>
        <lei>N/A</lei>
        <title>Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B</title>
        <cusip>888808HT2</cusip>
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          <isin value="US888808HT28"/>
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        <balance>165000.00000000</balance>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cameron Parish School District 15, Louisiana, General Obligtion Bonds, Series 2021</name>
        <lei>N/A</lei>
        <title>Cameron Parish School District 15, Louisiana, General Obligtion Bonds, Series 2021</title>
        <cusip>133565CG4</cusip>
        <identifiers>
          <isin value="US133565CG48"/>
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        <balance>265000.00000000</balance>
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      <invstOrSec>
        <name>New Orleans, Louisiana, General Obligation Bonds, Public Improvement Series 2021A</name>
        <lei>54930084B6KHR5PR2651</lei>
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          <isin value="US64763FYZ60"/>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Series 2007B</name>
        <lei>N/A</lei>
        <title>Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Series 2007B</title>
        <cusip>927688FL0</cusip>
        <identifiers>
          <isin value="US927688FL03"/>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <name>Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Jefferson Rise Charter School Project, Series 2022A</name>
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        <name>Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A</name>
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        <name>Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017</name>
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        <name>Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds, Young Audiences Charter School, Series 2019A</name>
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        <name>Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Ragin' Cajun Facilities Inc.- Athle</name>
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        <name>Louisiana Public Facilities Authority, Lease Revenue Bonds, Provident Group-Flagship Properties LLC - Louisiana State University GreenHouse District P</name>
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        <name>Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Louisiana Tech University Student Housing/Inno</name>
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        <name>Board of Commissioners of the Port of New Orleans Port Facility Revenue Bonds, Series 2020 D (Non-AMT) and Series 2020E (AMT)</name>
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        <name>New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Gilf Opportunity Zone Project, Refunding Series 2019</name>
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      <invstOrSec>
        <name>Terrebonne Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, Terrebonne General Medical Center, Refunding Series 2013</name>
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        <title>Terrebonne Parish Hospital Service District 1, Louisiana, Hospital Revenue Bonds, Terrebonne General Medical Center, Refunding Series 2013</title>
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        <valUSD>1083178.07000000</valUSD>
        <pctVal>0.497053391594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A</name>
        <lei>N/A</lei>
        <title>Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A</title>
        <cusip>40064RFW4</cusip>
        <identifiers>
          <isin value="US40064RFW43"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102827.72000000</valUSD>
        <pctVal>0.047186024524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</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>
      <invstOrSec>
        <name>Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2020B</name>
        <lei>549300VL35TBE7RSJH61</lei>
        <title>Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2020B</title>
        <cusip>54627DFK2</cusip>
        <identifiers>
          <isin value="US54627DFK28"/>
        </identifiers>
        <balance>1285000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1275309.17000000</valUSD>
        <pctVal>0.585219333585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, East Baton Rouge Sewerage Commissio</name>
        <lei>5493004WIZ1HV87IVF85</lei>
        <title>Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, East Baton Rouge Sewerage Commissio</title>
        <cusip>54628CZ54</cusip>
        <identifiers>
          <isin value="US54628CZ543"/>
        </identifiers>
        <balance>1525000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1601266.01000000</valUSD>
        <pctVal>0.734795804272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saint Charles Parish School Board, Louisiana, Sales &amp; Use Tax Bonds, Series 2019</name>
        <lei>N/A</lei>
        <title>Saint Charles Parish School Board, Louisiana, Sales &amp; Use Tax Bonds, Series 2019</title>
        <cusip>788073EA8</cusip>
        <identifiers>
          <isin value="US788073EA89"/>
        </identifiers>
        <balance>680000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>652332.70000000</valUSD>
        <pctVal>0.299345223064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Jefferson Rise Charter School Project, Series 2022A</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Jefferson Rise Charter School Project, Series 2022A</title>
        <cusip>546399PM2</cusip>
        <identifiers>
          <isin value="US546399PM24"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>483035.90000000</valUSD>
        <pctVal>0.221657582448</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics, L.P. Project, Series 2008</name>
        <lei>N/A</lei>
        <title>Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics, L.P. Project, Series 2008</title>
        <cusip>790103AU9</cusip>
        <identifiers>
          <isin value="US790103AU97"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2127705.60000000</valUSD>
        <pctVal>0.976370657868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds, Tulane University, Refunding Series 2017A</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds, Tulane University, Refunding Series 2017A</title>
        <cusip>546399EQ5</cusip>
        <identifiers>
          <isin value="US546399EQ56"/>
        </identifiers>
        <balance>220000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>228801.87000000</valUSD>
        <pctVal>0.104993581975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006</name>
        <lei>N/A</lei>
        <title>TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006</title>
        <cusip>898526FR4</cusip>
        <identifiers>
          <isin value="US898526FR48"/>
        </identifiers>
        <balance>1160000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1013696.51000000</valUSD>
        <pctVal>0.465169395779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics, L.P. Project, Series 2010B</name>
        <lei>N/A</lei>
        <title>Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics, L.P. Project, Series 2010B</title>
        <cusip>790103AX3</cusip>
        <identifiers>
          <isin value="US790103AX37"/>
        </identifiers>
        <balance>205000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>218126.31000000</valUSD>
        <pctVal>0.100094735283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Womans Hospital Foundation Project,</name>
        <lei>5493004WIZ1HV87IVF85</lei>
        <title>Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Womans Hospital Foundation Project,</title>
        <cusip>54628CAT9</cusip>
        <identifiers>
          <isin value="US54628CAT99"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2971528.80000000</valUSD>
        <pctVal>1.363587861653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-2</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-2</title>
        <cusip>19648FKR4</cusip>
        <identifiers>
          <isin value="US19648FKR46"/>
        </identifiers>
        <balance>390000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>395017.55000000</valUSD>
        <pctVal>0.181267345051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Hospital Revenue Bonds, (Hospital Auxi</name>
        <lei>549300YJRISCG6HQ4512</lei>
        <title>Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Hospital Revenue Bonds, (Hospital Auxi</title>
        <cusip>74527EFN3</cusip>
        <identifiers>
          <isin value="US74527EFN31"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1044656.20000000</valUSD>
        <pctVal>0.479376310914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="On September 18, 2024, Vistra Corp. (Vistra) and Nuveen agreed to terms for the sale of the Vistra Vision interest. In exchange for its membership interest in Vistra Vision, the Fund will receive a series of payments from Vistra through December 31, 2026. The resulting receivable, net of transaction costs, has been discounted to reflect these future payments. As of May 31, 2025, the net receivable for the sale of Vistra Vision was $4,029,630." noteItem="B.1.a"/>
      <explntrNote note="The International Organization for Standardization (ISO) country code included within Part C.5. of this filing may differ from that used for other purposes, such as for fund portfolio compliance purposes and for financial reporting purposes (i.e. the preparation of the fund's schedule of investments included within Part F of Form N-PORT and Form N-CSR." noteItem="C.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-05-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Nuveen Multistate Trust III</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>
