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        <name>California School Finance Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Richmond CA Wastewater Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Francisco Bay Area Rapid Transit District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sacramento Area Flood Control Agency</name>
        <lei>N/A</lei>
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        <name>Riverside County Public Financing Authority</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>California School Finance Authority</name>
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        <name>California School Finance Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>University of California</name>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US7973557K44"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US13059TAC36"/>
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        <curCd>USD</curCd>
        <valUSD>1363260.64000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.90000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>San Bernardino County Transportation Authority</name>
        <lei>N/A</lei>
        <title>SAN BERNARDINO CNTY CA TRANSPRTN AUTH</title>
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          <isin value="US796846FK44"/>
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        <curCd>USD</curCd>
        <valUSD>9466053.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <cusip>13080STP9</cusip>
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          <isin value="US13080STP91"/>
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        <balance>6500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6535730.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System Revenue</name>
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        <cusip>271014D66</cusip>
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          <isin value="US271014D665"/>
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        <balance>4585000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13059TCQ0</cusip>
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          <isin value="US13059TCQ04"/>
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        <balance>755000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System Revenue</name>
        <lei>N/A</lei>
        <title>EAST BAY CA MUNI UTILITY DIST WTR SYS REVENUE</title>
        <cusip>271014J60</cusip>
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          <isin value="US271014J605"/>
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        <balance>11190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12387307.62000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Community Housing Agency</name>
        <lei>N/A</lei>
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        <cusip>13013FAJ3</cusip>
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          <isin value="US13013FAJ30"/>
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        <balance>6115000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Norman Y Mineta San Jose International Airport SJC</name>
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          <isin value="US798136VU88"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Eastern Municipal Water District</name>
        <lei>549300ZCFVRFDIRWK089</lei>
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          <isin value="US27627TBJ07"/>
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        <balance>3000000.00000000</balance>
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        <assetCat>DBT</assetCat>
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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>California School Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13058TKP4</cusip>
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          <isin value="US13058TKP48"/>
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        <balance>440000.00000000</balance>
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      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
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          <maturityDt>2039-08-01</maturityDt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH STUDENT HSG REVENUE</title>
        <cusip>13049YFR7</cusip>
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          <isin value="US13049YFR71"/>
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        <name>Los Angeles Department of Water</name>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Community Housing Agency</name>
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        <name>Chicago Board of Trade</name>
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        <name>City of Long Beach CA Harbor Revenue</name>
        <lei>N/A</lei>
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          <isin value="US542424VC75"/>
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        <curCd>USD</curCd>
        <valUSD>5233408.45000000</valUSD>
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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>2040-05-15</maturityDt>
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      <invstOrSec>
        <name>El Monte City School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US283309MR05"/>
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        <balance>4265000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
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          <isin value="US91412G2L81"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15970020.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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        <cusip>544445GB9</cusip>
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          <isin value="US544445GB92"/>
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        <balance>5955000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Community Housing Agency</name>
        <lei>N/A</lei>
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        <cusip>13013FAV6</cusip>
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          <isin value="US13013FAV67"/>
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        <balance>2495000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1969897.31000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of San Francisco CA Public Utilities Commission Water Revenue</name>
        <lei>549300RA28ZEFOB6M782</lei>
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        <cusip>79765RE96</cusip>
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          <isin value="US79765RE968"/>
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        <balance>2335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2476550.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Riverside County Transportation Commission</name>
        <lei>5493003G0IESJS57M350</lei>
        <title>RIVERSIDE CNTY CA TRANSPRTN COMMISSION TOLL REVENUE</title>
        <cusip>76912DBA5</cusip>
        <identifiers>
          <isin value="US76912DBA54"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4397004.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Jose Financing Authority</name>
        <lei>N/A</lei>
        <title>SAN JOSE CA FING AUTH LEASE REVENUE</title>
        <cusip>798153LV2</cusip>
        <identifiers>
          <isin value="US798153LV20"/>
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        <balance>3375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3476580.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
        <lei>549300544P6FSHU1HB46</lei>
        <title>CALIFORNIA ST ENTERPRISE DEV AUTH STUDENT HSG REVENUE</title>
        <cusip>13069BAQ9</cusip>
        <identifiers>
          <isin value="US13069BAQ95"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1033911.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California State Public Works Board</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US13068LLA16"/>
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        <balance>4590000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4807409.94000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Perris Union High School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US714398JF26"/>
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          <maturityDt>2039-09-01</maturityDt>
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      <invstOrSec>
        <name>San Benito High School District</name>
        <lei>N/A</lei>
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          <maturityDt>2048-08-01</maturityDt>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
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          <isin value="US13016NEZ33"/>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US13059TAF66"/>
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      <invstOrSec>
        <name>California Community Housing Agency</name>
        <lei>N/A</lei>
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        <cusip>13013FBC7</cusip>
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          <isin value="US13013FBC77"/>
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      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US952347B842"/>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
        <lei>N/A</lei>
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          <isin value="US544525YH55"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
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          <isin value="US130179SD70"/>
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        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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          <isin value="US74529JRH04"/>
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        <name>Menifee Union School District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>San Mateo County Community College District</name>
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        <name>Bay Area Toll Authority</name>
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        <name>California Community Housing Agency</name>
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        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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        <name>California Health Facilities Financing Authority</name>
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      </invstOrSec>
      <invstOrSec>
        <name>San Luis Obispo County Community College District</name>
        <lei>N/A</lei>
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          <isin value="US798684EN27"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA PUBLIC FACS FING AUTH WTR REVENUE</title>
        <cusip>79730CJB1</cusip>
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          <isin value="US79730CJB19"/>
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        <balance>9655000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10583241.36000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
        <lei>N/A</lei>
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        <cusip>74529JPX7</cusip>
        <identifiers>
          <isin value="US74529JPX71"/>
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        <balance>19006000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19454161.48000000</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>2058-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power</name>
        <lei>549300S8NXV6YU61GG95</lei>
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        <cusip>544532EX8</cusip>
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          <isin value="US544532EX84"/>
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        <balance>925000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1046766.08000000</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>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco City &amp; County Public Utilities Commission Power Revenue</name>
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        <cusip>79771KAM8</cusip>
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          <isin value="US79771KAM80"/>
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        <curCd>USD</curCd>
        <valUSD>5503158.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13078YRG25"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
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        <cusip>126292CA7</cusip>
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          <isin value="US126292CA71"/>
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        <balance>2705000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2079871.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Beaumont Public Improvement Authority</name>
        <lei>N/A</lei>
        <title>BEAUMONT CA PUBLIC IMPT AUTH WSTWTR REVENUE</title>
        <cusip>074428AX1</cusip>
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          <isin value="US074428AX18"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Sacramento CA Water Revenue</name>
        <lei>N/A</lei>
        <title>SACRAMENTO CA WTR REVENUE</title>
        <cusip>786089HY1</cusip>
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          <isin value="US786089HY19"/>
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        <balance>14824994.88000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16136901.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA STWD CMNTYS DEV AUTH REVENUE</title>
        <cusip>13080SSE5</cusip>
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          <isin value="US13080SSE53"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Kern Community College District</name>
        <lei>N/A</lei>
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          <isin value="US492244DN54"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
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        <name>California Housing Finance Agency</name>
        <lei>549300BOPCVLBA552Z14</lei>
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          <isin value="US13033DAJ46"/>
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          <maturityDt>2036-08-20</maturityDt>
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        <name>Children's Trust Fund</name>
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          <isin value="US16876QBF54"/>
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        <name>California Municipal Finance Authority</name>
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        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>West Valley-Mission Community College District</name>
        <lei>N/A</lei>
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        <name>Chino Valley Unified School District</name>
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        <name>West Valley-Mission Community College District</name>
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        <name>California Community Housing Agency</name>
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          <isin value="US13013FAU84"/>
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        <name>California School Finance Authority</name>
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          <isin value="US13058TMA50"/>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <name>City of Los Angeles Department of Airports</name>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
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        <name>Palomar Community College District</name>
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        <name>Norman Y Mineta San Jose International Airport SJC</name>
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        <name>CMFA Special Finance Agency XII</name>
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        <name>Mount San Antonio Community College District</name>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
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        <name>Santa Clarita Community College District</name>
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      <invstOrSec>
        <name>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp</name>
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      <invstOrSec>
        <name>City of Dixon CA</name>
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      <invstOrSec>
        <name>Glendale Community College District/CA</name>
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        <name>Livermore Valley Joint Unified School District/CA</name>
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      <invstOrSec>
        <name>Orange County Community Facilities District</name>
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        <name>State of California</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Chaffey Joint Union High School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Luis Obispo County Community College District</name>
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        <name>City of Los Angeles Department of Airports</name>
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      <invstOrSec>
        <name>Los Angeles County Facilities Inc</name>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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      <invstOrSec>
        <name>San Mateo County Community College District</name>
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        <name>California County Tobacco Securitization Agency</name>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
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        <name>Regents of the University of California Medical Center Pooled Revenue</name>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
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          <isin value="US13069BAP13"/>
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        <name>Palomar Community College District</name>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California School Finance Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Glendale Community College District/CA</name>
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        <name>University of California</name>
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        <name>San Diego County Regional Airport Authority</name>
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        <name>California Housing Finance Agency</name>
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        <name>California School Finance Authority</name>
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      <invstOrSec>
        <name>State of California</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>County of Sacramento CA Airport System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
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      <invstOrSec>
        <name>City of Los Angeles CA Wastewater System Revenue</name>
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          <isin value="US53945CKY56"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-06-01</maturityDt>
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      <invstOrSec>
        <name>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
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          <isin value="US126292AY75"/>
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          <maturityDt>2056-09-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Mountain House Public Financing Authority</name>
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      <invstOrSec>
        <name>University of California</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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        <name>Los Angeles County Facilities Inc</name>
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        <name>Sacramento Municipal Utility District</name>
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        <name>Chaffey Joint Union High School District</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
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        <name>San Diego County Regional Airport Authority</name>
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        <name>Hayward Unified School District</name>
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        <name>State of California</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Mount San Jacinto Community College District</name>
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        <name>California Community Housing Agency</name>
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        <name>Garden Grove Unified School District</name>
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        <name>Chino Valley Unified School District</name>
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        <name>Bay Area Toll Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>University of California</name>
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        <name>California School Finance Authority</name>
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        <name>Hastings Campus Housing Finance Authority</name>
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      <invstOrSec>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>California Health Facilities Financing Authority</name>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>San Mateo Foster City Public Financing Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Norman Y Mineta San Jose International Airport SJC</name>
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        <name>University of California</name>
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        <name>Southwestern Community College District</name>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US13048VBY39"/>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Glendale Community College District/CA</name>
        <lei>N/A</lei>
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          <isin value="US378394HY98"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13032UPW26"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>13049UEY1</cusip>
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          <isin value="US13049UEY10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
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          <isin value="US126292CG42"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
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          <isin value="US91412HMP54"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048TS38</cusip>
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          <isin value="US13048TS386"/>
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        <balance>9250000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Community Housing Agency</name>
        <lei>N/A</lei>
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        <cusip>13013FAM6</cusip>
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          <isin value="US13013FAM68"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>California Community Housing Agency</name>
        <lei>N/A</lei>
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          <isin value="US13013FBB94"/>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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          <isin value="US13059TGP84"/>
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        <name>City of Los Angeles Department of Airports</name>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <name>City of Los Angeles CA</name>
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        <name>CMFA Special Finance Agency VIII</name>
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      <invstOrSec>
        <name>California State University</name>
        <lei>N/A</lei>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA ST STWD CMNTYS DEV AUTH STWD REVENUE</title>
        <cusip>13078YRM9</cusip>
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          <isin value="US13078YRM92"/>
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        <curCd>USD</curCd>
        <valUSD>2617730.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CMFA Special Finance Agency</name>
        <lei>N/A</lei>
        <title>CMFA SPL FIN AGY CA ESSENTIAL HSG REVENUE</title>
        <cusip>12574WAB6</cusip>
        <identifiers>
          <isin value="US12574WAB63"/>
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        <balance>2750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2163177.50000000</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>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>South San Francisco Public Facilities Financing Authority</name>
        <lei>N/A</lei>
        <title>SOUTH SAN FRANCISCO CA PUBLIC FACS FING AUTH LEASE REVENUE</title>
        <cusip>840035BU2</cusip>
        <identifiers>
          <isin value="US840035BU27"/>
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        <balance>4890000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4892557.47000000</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>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA ST STWD CMNTYS DEV AUTH STWD REVENUE</title>
        <cusip>13078YQH1</cusip>
        <identifiers>
          <isin value="US13078YQH17"/>
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        <balance>865000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>907051.98000000</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>2049-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>SAN FRANCISCO CALIF CITY &amp;CNTY ARPTS COMMN INTL ARPT REV</title>
        <cusip>79766DLH0</cusip>
        <identifiers>
          <isin value="US79766DLH07"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2411851.50000000</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>2048-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chaffey Joint Union High School District</name>
        <lei>N/A</lei>
        <title>CHAFFEY CA JT UNION HIGH SCH DIST</title>
        <cusip>157411QX0</cusip>
        <identifiers>
          <isin value="US157411QX04"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>649755.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063DJ41</cusip>
        <identifiers>
          <isin value="US13063DJ412"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1024739.00000000</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>2041-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE</title>
        <cusip>79739GKF2</cusip>
        <identifiers>
          <isin value="US79739GKF27"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>376362.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bay Area Toll Authority</name>
        <lei>5493001FUZGUQMIP5D78</lei>
        <title>BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE</title>
        <cusip>072024WG3</cusip>
        <identifiers>
          <isin value="US072024WG31"/>
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        <balance>13180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10548178.06000000</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>2054-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048VCA4</cusip>
        <identifiers>
          <isin value="US13048VCA44"/>
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        <balance>21415000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19592305.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp</name>
        <lei>N/A</lei>
        <title>GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT</title>
        <cusip>38122NZQ8</cusip>
        <identifiers>
          <isin value="US38122NZQ86"/>
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        <balance>2175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2475141.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
        <title>CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE</title>
        <cusip>126292AQ4</cusip>
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          <isin value="US126292AQ42"/>
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        <balance>3545000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2794839.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Orange County Community Facilities District</name>
        <lei>N/A</lei>
        <title>ORANGE CNTY CA CMNTY FACS DIST</title>
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          <isin value="US68423PYU82"/>
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        <balance>755000.00000000</balance>
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        <curCd>USD</curCd>
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          <maturityDt>2050-08-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST EDUCTNL FACS AUTH REVENUE</title>
        <cusip>130179RL0</cusip>
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          <isin value="US130179RL06"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Sacramento CA Transient Occupancy Tax Revenue</name>
        <lei>N/A</lei>
        <title>SACRAMENTO CA TRANSIENT OCCUPAPANCY TAX REVENUE</title>
        <cusip>786073AW6</cusip>
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          <isin value="US786073AW65"/>
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        <curCd>USD</curCd>
        <valUSD>3995343.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Pollution Control Financing Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST POLL CONTROL FING AUTH REVENUE</title>
        <cusip>13053CAD4</cusip>
        <identifiers>
          <isin value="US13053CAD48"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4090360.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE</title>
        <cusip>74529JRP2</cusip>
        <identifiers>
          <isin value="US74529JRP20"/>
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        <balance>1535000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1553421.54000000</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>2058-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.78000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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      <invstOrSec>
        <name>Los Angeles County Facilities Inc</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Chicago Board of Trade</name>
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        <name>California Municipal Finance Authority</name>
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          <isin value="US13048VWS32"/>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>Los Angeles County Public Works Financing Authority</name>
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        <name>California Enterprise Development Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>University of California</name>
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        <name>San Diego Public Facilities Financing Authority</name>
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        <name>California Enterprise Development Authority</name>
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      <invstOrSec>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Chabot-Las Positas Community College District</name>
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        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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        <name>Rio Elementary School District/CA</name>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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          <isin value="US13058TMG21"/>
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        <name>Regents of the University of California Medical Center Pooled Revenue</name>
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        <name>California Housing Finance Agency</name>
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        <name>Riverside County Transportation Commission</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California School Finance Authority</name>
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        <name>Alameda Corridor Transportation Authority</name>
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        <name>State of California</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>City &amp; County of San Francisco CA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tobacco Securitization Authority of Southern California</name>
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          <isin value="US888804CR03"/>
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      <invstOrSec>
        <name>California State University</name>
        <lei>N/A</lei>
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        <name>California Statewide Communities Development Authority</name>
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      <invstOrSec>
        <name>Mount San Antonio Community College District</name>
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        <name>Chaffey Joint Union High School District</name>
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          <isin value="US157411RB74"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
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      <invstOrSec>
        <name>Riverside County Public Financing Authority</name>
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          <isin value="US76912KCM27"/>
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      <invstOrSec>
        <name>Chaffey Joint Union High School District</name>
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        <cusip>157411QW2</cusip>
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          <isin value="US157411QW21"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
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      <invstOrSec>
        <name>City of Los Angeles CA Wastewater System Revenue</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-06-01</maturityDt>
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      <invstOrSec>
        <name>Transbay Joint Powers Authority</name>
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          <isin value="US89356CAU09"/>
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        <fairValLevel>2</fairValLevel>
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        <name>University of California</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>San Luis Obispo County Community College District</name>
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        <name>San Jose Financing Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California School Finance Authority</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>RNR School Financing Authority</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>BlackRock Liquidity Funds</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California School Finance Authority</name>
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        <name>California School Finance Authority</name>
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        <name>City of Los Angeles CA Wastewater System Revenue</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>City &amp; County of San Francisco CA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Francisco Bay Area Rapid Transit District</name>
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      <invstOrSec>
        <name>State of California</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mount San Antonio Community College District</name>
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        <curCd>USD</curCd>
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          <maturityDt>2044-08-01</maturityDt>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
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          <isin value="US79739GFQ47"/>
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        <curCd>USD</curCd>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CSCDA Community Improvement Authority</name>
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          <isin value="US126292AD39"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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          <isin value="US544445HQ52"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13058TPV6</cusip>
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          <isin value="US13058TPV60"/>
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        <balance>1875000.00000000</balance>
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        <valUSD>1916092.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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          <isin value="US79766DMA45"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA ST STWD CMNTYS DEV AUTH STWD REVENUE</title>
        <cusip>13078YQF5</cusip>
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          <isin value="US13078YQF50"/>
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        <balance>850000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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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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        <name>California Statewide Communities Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Perris Union High School District/CA</name>
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        <name>Riverside County Redevelopment Successor Agency</name>
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        <name>University of California</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>West Valley-Mission Community College District</name>
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        <name>San Marcos Redevelopment Agency Successor Agency</name>
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        <name>Chaffey Joint Union High School District</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>Fremont Union High School District</name>
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        <name>Coronado Community Development Agency Successor Agency</name>
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        <name>California School Finance Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>San Marcos Redevelopment Agency Successor Agency</name>
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        <name>Chaffey Joint Union High School District</name>
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        <name>University of California</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>San Diego County Regional Airport Authority</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-01</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>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA STWD CMNTYS DEV AUTH REVENUE</title>
        <cusip>13080SSD7</cusip>
        <identifiers>
          <isin value="US13080SSD70"/>
        </identifiers>
        <balance>3975000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3942444.75000000</valUSD>
        <pctVal>0.306121367495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-04-01</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>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048VMX3</cusip>
        <identifiers>
          <isin value="US13048VMX37"/>
        </identifiers>
        <balance>895000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>935608.84000000</valUSD>
        <pctVal>0.072647779665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</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>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
        <title>CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE</title>
        <cusip>126292CF6</cusip>
        <identifiers>
          <isin value="US126292CF68"/>
        </identifiers>
        <balance>3770000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3028203.49000000</valUSD>
        <pctVal>0.235132729104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-12-01</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>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE</title>
        <cusip>544445UW7</cusip>
        <identifiers>
          <isin value="US544445UW73"/>
        </identifiers>
        <balance>4305000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4279975.04000000</valUSD>
        <pctVal>0.332329783972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-15</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>Tobacco Securitization Authority of Southern California</name>
        <lei>N/A</lei>
        <title>TOBACCO SECURITIZATION AUTH STHRN CA TOBACCO SETTLEMENT REVE</title>
        <cusip>888804CU3</cusip>
        <identifiers>
          <isin value="US888804CU32"/>
        </identifiers>
        <balance>25600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4676070.40000000</valUSD>
        <pctVal>0.363085637497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>Chaffey Joint Union High School District</name>
        <lei>N/A</lei>
        <title>CHAFFEY CA JT UNION HIGH SCH DIST</title>
        <cusip>157411RG6</cusip>
        <identifiers>
          <isin value="US157411RG61"/>
        </identifiers>
        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>306089.00000000</valUSD>
        <pctVal>0.023767075811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA ST HLTH FACS FING AUTH REVENUE</title>
        <cusip>13032UUR7</cusip>
        <identifiers>
          <isin value="US13032UUR75"/>
        </identifiers>
        <balance>4745000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5037192.36000000</valUSD>
        <pctVal>0.391125890497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-01</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>Freddie Mac Multifamily ML Certificates</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FRETE 2019-ML05 TRUST</title>
        <cusip>30309HAA5</cusip>
        <identifiers>
          <isin value="US30309HAA59"/>
        </identifiers>
        <balance>17830934.62000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17485158.21000000</valUSD>
        <pctVal>1.357680546344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.35000000</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>California State Public Works Board</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE</title>
        <cusip>13068XFJ3</cusip>
        <identifiers>
          <isin value="US13068XFJ37"/>
        </identifiers>
        <balance>9000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9088119.00000000</valUSD>
        <pctVal>0.705670616243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-01</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>Beverly Hills Unified School District CA</name>
        <lei>N/A</lei>
        <title>BEVERLY HILLS CA UNIF SCH DIST</title>
        <cusip>088023MU7</cusip>
        <identifiers>
          <isin value="US088023MU73"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1757092.00000000</valUSD>
        <pctVal>0.136433974339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2022-05-31</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock MuniHoldings California Quality Fund, Inc.</ncom:nameOfApplicant>
      <ncom:signature>Ann Frechette</ncom:signature>
      <ncom:signerName>Ann Frechette</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
