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        <name>Tarrant County Cultural Education Facilities Finance Corp</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of McKinney TX</name>
        <lei>N/A</lei>
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          <isin value="US58178CLU98"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-15</maturityDt>
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      <invstOrSec>
        <name>City of Atlanta GA Department of Aviation</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Wayne-Westland Community Schools</name>
        <lei>N/A</lei>
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          <isin value="US946498JT01"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Public Finance Authority</name>
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          <isin value="US74448UAD00"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CAPITAL REGION DEV AUTH</name>
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          <isin value="US14044WAQ15"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2033-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Gastonia Housing Authority</name>
        <lei>N/A</lei>
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          <isin value="US367322AE40"/>
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          <maturityDt>2041-12-01</maturityDt>
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      <invstOrSec>
        <name>MISSOURI JT MUNI ELEC UTILITY</name>
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          <isin value="US606094DP25"/>
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        <curCd>USD</curCd>
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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>2038-12-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>PADUCAH KY ELEC PLANT BRD REVE</name>
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          <isin value="US695317DZ76"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW YORK ST URBAN DEV CORP REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2038-03-15</maturityDt>
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        <name>TOMS RIVER NJ BRD OF EDU</name>
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          <maturityDt>2038-07-15</maturityDt>
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      <invstOrSec>
        <name>California Housing Finance Agency</name>
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        <name>Jackson County Board of Education</name>
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        <name>Gastonia Housing Authority</name>
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        <name>MISSISSIPPI ST GAMING TAX REVE</name>
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        <name>BL TRAIN HOLDINGS WEST LLC</name>
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        <name>DAHLONEGA GA DOWNTOWN DEV AUTH</name>
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        <name>MINNEAPOLIS MN HLTH CARE SYS R</name>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
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        <name>Illinois State Toll Highway Authority</name>
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          <isin value="US452252QR33"/>
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        <fairValLevel>2</fairValLevel>
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        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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          <isin value="US65000B7Q53"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHICAGO IL HSG AUTH</name>
        <lei>N/A</lei>
        <title>Chicago Housing Authority</title>
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          <isin value="US16753QAN79"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-01</maturityDt>
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      <invstOrSec>
        <name>Development Authority of Cobb County/The</name>
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          <isin value="US190778LL27"/>
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      <invstOrSec>
        <name>County of Jefferson AL Sewer Revenue</name>
        <lei>N/A</lei>
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          <isin value="US472682ZJ55"/>
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        <name>State Public School Building Authority</name>
        <lei>5493006JN0UR7OGWTO86</lei>
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          <isin value="US85732NAZ87"/>
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        <balance>505000.00000000</balance>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>City of San Antonio TX Electric &amp; Gas Systems Revenue</name>
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          <isin value="US79625GKJ12"/>
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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>2041-02-01</maturityDt>
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        <name>Metropolitan Washington Airports Authority Aviation Revenue</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Washington</name>
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          <maturityDt>2039-02-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>California State University</name>
        <lei>N/A</lei>
        <title>California State University</title>
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        <name>Town of Fuquay-Varina NC Combined Utilities Revenue</name>
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          <isin value="US36106QDH92"/>
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        <name>Indianapolis Local Public Improvement Bond Bank</name>
        <lei>549300LX8ESJHDSESB87</lei>
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        <name>PINAL CNTY AZ ELEC DIST #3</name>
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        <name>New York State Dormitory Authority</name>
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        <name>Indianapolis Local Public Improvement Bond Bank</name>
        <lei>549300LX8ESJHDSESB87</lei>
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        <name>HOUSTON TX ARPT SYS REVENUE</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nash Health Care Systems</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-01</maturityDt>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>City of Los Angeles Department of Airports</title>
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          <isin value="US544445S264"/>
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        <valUSD>1083483.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>BREVARD CNTY FL SCH BRD COPS</name>
        <lei>N/A</lei>
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          <isin value="US107431LA49"/>
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        <curCd>USD</curCd>
        <valUSD>2552102.00000000</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>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Triborough Bridge &amp; Tunnel Authority</name>
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        <curCd>USD</curCd>
        <valUSD>558993.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>HILLSBOROUGH CNTY FL PORT DIST</name>
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        <title>Hillsborough County Port District</title>
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        <curCd>USD</curCd>
        <valUSD>1034998.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
        <cusip>59261AJU2</cusip>
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          <isin value="US59261AJU25"/>
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        <balance>545000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>545977.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lower Colorado River Authority</name>
        <lei>549300QJFPW2NNBYR215</lei>
        <title>Lower Colorado River Authority</title>
        <cusip>54811GR44</cusip>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1121600.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Village of Lyons IL</name>
        <lei>N/A</lei>
        <title>Village of Lyons IL</title>
        <cusip>552172KG2</cusip>
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          <isin value="US552172KG28"/>
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        <balance>1005000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1020569.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ILLINOIS ST</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>State of Illinois</title>
        <cusip>452152H61</cusip>
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          <isin value="US452152H616"/>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1563392.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>NEW JERSEY ST ECON DEV AUTH RE</name>
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        <title>New Jersey Economic Development Authority</title>
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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>2035-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sacramento City Unified School District/CA</name>
        <lei>N/A</lei>
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        <valUSD>834340.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2039-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New York State Dormitory Authority</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2040-10-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>MILWAUKEE WI</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>

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          <maturityDt>2034-04-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Metropolitan Government of Nashville &amp; Davidson County TN</name>
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        <name>Main Street Natural Gas Inc</name>
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        <invCountry>US</invCountry>

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        <name>Rhode Island Health and Educational Building Corp</name>
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        <invCountry>US</invCountry>

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        <name>SALT LAKE CITY UT ARPT REVENUE</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>Berkeley County Public Service District</name>
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        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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        <name>PORT FREEPORT TX SENIOR LIEN R</name>
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        <name>SALES TAX SECURITIZATION CORP</name>
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        <name>City of Tukwila WA</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>City of Kokomo IN Sewage Works Revenue</name>
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        <invCountry>US</invCountry>

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          <maturityDt>2041-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Palm Beach County School District</name>
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          <isin value="US696550L593"/>
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        <valUSD>275446.45000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>COLORADO ST HLTH FACS AUTH REV</name>
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          <isin value="US19648FJC95"/>
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        <curCd>USD</curCd>
        <valUSD>1002766.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Pennsylvania State University/The</name>
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        <title>Pennsylvania State University</title>
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          <isin value="US7092353Z67"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Illinois Finance Authority</name>
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        <title>Illinois Finance Authority</title>
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          <isin value="US45203H8U90"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Florida Development Finance Corp</name>
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        <curCd>USD</curCd>
        <valUSD>65250.65000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
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          <annualizedRt>12.00000000</annualizedRt>
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        <name>FORT SMITH AR WTR &amp; SWR REVENU</name>
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          <isin value="US348815PJ42"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1036375.40000000</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>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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          <isin value="US64613CCB28"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>TOLEDO OH</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2031-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>CONNECTICUT ST HLTH &amp; EDUCTNL</name>
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        <title>Connecticut State Health &amp; Educational Facilities Authority</title>
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          <maturityDt>2033-07-01</maturityDt>
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        <name>CONNECTICUT ST HLTH &amp; EDUCTNL</name>
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        <name>PADUCAH KY ELEC PLANT BRD REVE</name>
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        <title>Paducah Electric Plant Board</title>
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        <name>DULUTH MN ECON DEV AUTH HLTH C</name>
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        <name>Washington Metropolitan Area Transit Authority</name>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
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        <invCountry>US</invCountry>

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        <name>SOUTH JERSEY NJ PORT CORP</name>
        <lei>N/A</lei>
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          <isin value="US838530RH87"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501663.95000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-01-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
        <cusip>65000BWF1</cusip>
        <identifiers>
          <isin value="US65000BWF11"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>136291.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CONNECTICUT ST</name>
        <lei>549300PHW5BZHA7BEX81</lei>
        <title>State of Connecticut</title>
        <cusip>20772KSR1</cusip>
        <identifiers>
          <isin value="US20772KSR13"/>
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        <balance>255000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>279982.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Dalton Whitfield County Joint Development Authority</name>
        <lei>N/A</lei>
        <title>Dalton Whitfield County Joint Development Authority</title>
        <cusip>235641BC0</cusip>
        <identifiers>
          <isin value="US235641BC02"/>
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        <balance>865000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>939766.62000000</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>2039-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COOK CNTY IL SALES TAX REVENUE</name>
        <lei>N/A</lei>
        <title>County of Cook IL Sales Tax Revenue</title>
        <cusip>213248BK2</cusip>
        <identifiers>
          <isin value="US213248BK22"/>
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        <balance>1355000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1343105.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of California</name>
        <lei>9845007J7054602FF597</lei>
        <title>State of California</title>
        <cusip>13063EKM7</cusip>
        <identifiers>
          <isin value="US13063EKM74"/>
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        <balance>2425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2497597.23000000</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>2036-03-01</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>Illinois State Toll Highway Authority</name>
        <lei>549300ISBFGI8MJJKM98</lei>
        <title>Illinois State Toll Highway Authority</title>
        <cusip>452252QT9</cusip>
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          <isin value="US452252QT98"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>307500.46000000</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>2039-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VIRGINIA ST SMALL BUSINESS FIN</name>
        <lei>N/A</lei>
        <title>Virginia Small Business Financing Authority</title>
        <cusip>928104QJ0</cusip>
        <identifiers>
          <isin value="US928104QJ08"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>407520.16000000</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>2047-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <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>CLARK CNTY NV SCH DIST</name>
        <lei>N/A</lei>
        <title>Clark County School District</title>
        <cusip>181059P67</cusip>
        <identifiers>
          <isin value="US181059P671"/>
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        <balance>1425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1430646.14000000</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>2040-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>WISCONSIN ST</name>
        <lei>549300VTAT608CNZ5827</lei>
        <title>State of Wisconsin</title>
        <cusip>97705MVJ1</cusip>
        <identifiers>
          <isin value="US97705MVJ16"/>
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        <balance>755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>758059.64000000</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>2041-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Marshall County Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>Marshall County Educational Facilities Authority</title>
        <cusip>572225AR1</cusip>
        <identifiers>
          <isin value="US572225AR14"/>
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        <balance>695000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>710576.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mississippi Development Bank</name>
        <lei>549300122LOI8CB50V38</lei>
        <title>Mississippi Development Bank</title>
        <cusip>60534XDL7</cusip>
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          <isin value="US60534XDL73"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>800372.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>FLORIDA DEV FIN CORP HLTHCAREF</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp</title>
        <cusip>34061QBF3</cusip>
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          <isin value="US34061QBF37"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CANYON TX INDEP SCH DIST</name>
        <lei>N/A</lei>
        <title>Canyon Independent School District</title>
        <cusip>139015QU8</cusip>
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          <isin value="US139015QU88"/>
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        <balance>1105000.00000000</balance>
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        <valUSD>1111551.21000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2038-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>HAWLEY MN INDEP SCH DIST #150</name>
        <lei>N/A</lei>
        <title>Hawley Independent School District No 150</title>
        <cusip>420416GL7</cusip>
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          <isin value="US420416GL72"/>
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        <balance>400000.00000000</balance>
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        <valUSD>422350.48000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2038-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Village of Bolingbrook IL</name>
        <lei>N/A</lei>
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          <isin value="US09755VBE83"/>
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        <balance>1043000.00000000</balance>
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        <valUSD>1048205.82000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <annualizedRt>4.00000000</annualizedRt>
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        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>State of Washington</title>
        <cusip>93974EBT2</cusip>
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          <isin value="US93974EBT29"/>
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        <balance>270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>283111.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Harris County Municipal Utility District No 367</name>
        <lei>N/A</lei>
        <title>Harris County Municipal Utility District No 367</title>
        <cusip>41419NLR7</cusip>
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          <isin value="US41419NLR79"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>399260.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Miami-Dade FL Aviation Revenue</name>
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      <invstOrSec>
        <name>HILLSBOROUGH CNTY FL AVIATION</name>
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      <invstOrSec>
        <name>Michigan State Housing Development Authority</name>
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          <isin value="US594654UN34"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>DAHLONEGA GA DOWNTOWN DEV AUTH</name>
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        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2037-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of LeRoy IL</name>
        <lei>N/A</lei>
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          <isin value="US526779BY85"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of New York Mortgage Agency Homeowner Mortgage Revenue</name>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>SAN ANTONIO TX ELEC &amp; GAS REVE</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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          <isin value="US59261AG435"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Boston MA</name>
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          <isin value="US100853Q376"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Centennial Authority</name>
        <lei>N/A</lei>
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          <isin value="US15136FBG54"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Greater Orlando Aviation Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Berkeley County Public Service District</name>
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        <name>Nebraska Investment Finance Authority</name>
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        <name>University of Houston</name>
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        <name>North Carolina Housing Finance Agency</name>
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        <name>New York Transportation Development Corp</name>
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        <name>New Jersey Higher Education Student Assistance Authority</name>
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        <name>ALASKA ST MUNI BOND BANK AUTH</name>
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          <maturityDt>2031-12-01</maturityDt>
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        <name>Michigan Finance Authority</name>
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        <name>SALT RIVER AZ PROJ AGRIC IMPT&amp;</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>Centennial Authority</name>
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        <name>North Carolina Housing Finance Agency</name>
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        <name>California State University</name>
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        <name>HILLSBOROUGH CNTY FL AVIATION</name>
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        <name>Cushing Educational Facilities Authority</name>
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        <name>San Angelo Independent School District</name>
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        <name>Spring Independent School District</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>NEW ORLEANS LA AVIATION BRD SP</name>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
        <cusip>6461364E8</cusip>
        <identifiers>
          <isin value="US6461364E83"/>
        </identifiers>
        <balance>765000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>801219.84000000</valUSD>
        <pctVal>0.424008516200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN MUNI PWR OH INC SOLAR</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
        <title>American Municipal Power, Inc</title>
        <cusip>02765MAQ5</cusip>
        <identifiers>
          <isin value="US02765MAQ50"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1044949.10000000</valUSD>
        <pctVal>0.552990946149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>TIAA-CREF Funds</ncom:nameOfApplicant>
      <ncom:signature>Gina Spunder</ncom:signature>
      <ncom:signerName>Gina Spunder</ncom:signerName>
      <ncom:title>Director, Fund Financial Reporting</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
