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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts School Building Authority</name>
        <lei>N/A</lei>
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          <isin value="US576000TJ23"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Alvord Unified School District</name>
        <lei>549300Q9J0UCO75DL276</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>State of South Carolina</name>
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          <isin value="US83710RSE89"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Commonwealth of Massachusetts</name>
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          <isin value="US57582RWH55"/>
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        <balance>975000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>987411.07000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Los Angeles</name>
        <lei>N/A</lei>
        <title>City of Los Angeles Wastewater System, Series D</title>
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          <isin value="US53945CDP23"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>751227.23000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Commonwealth of Pennsylvania</name>
        <lei>N/A</lei>
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          <isin value="US70914PP979"/>
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        <balance>255000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>260899.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>County of Buncombe</name>
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        <title>County of Buncombe, Series 2015</title>
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          <isin value="US120525FE50"/>
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        <balance>470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>470550.04000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Snohomish</name>
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          <isin value="US833086DX66"/>
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        <balance>215000.00000000</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>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Grossmont Union High School District</name>
        <lei>N/A</lei>
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          <isin value="US399262BJ23"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>86478.03000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Wisconsin Department of Transportation</name>
        <lei>N/A</lei>
        <title>Wisconsin Department of Transportation, Series 2015-1</title>
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          <isin value="US977123L631"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>421018.46000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Hampshire Municipal Bond Bank</name>
        <lei>N/A</lei>
        <title>New Hampshire Municipal Bond Bank, Series 2017B</title>
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          <isin value="US64465P2L18"/>
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        <balance>215000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>220502.15000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia Water &amp; Sewer Authority</name>
        <lei>549300OT2FIJQJ5PSH71</lei>
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          <isin value="US254845QH62"/>
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        <balance>205000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>210955.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Oregon Department of Transportation</name>
        <lei>N/A</lei>
        <title>State of Oregon Department of Transportation, Series 2024</title>
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          <isin value="US68606UAB44"/>
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        <balance>365000.00000000</balance>
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        <valUSD>372649.38000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Alabama Public School and College Authority</name>
        <lei>N/A</lei>
        <title>Alabama Public School &amp; College Authority, Series B</title>
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          <isin value="US010609BK09"/>
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        <balance>55000.00000000</balance>
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        <valUSD>55223.75000000</valUSD>
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          <maturityDt>2026-05-01</maturityDt>
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        <name>State of Florida Department of Transportation</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Virginia Public School Authority</name>
        <lei>N/A</lei>
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          <isin value="US92818HNT40"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-08-01</maturityDt>
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      <invstOrSec>
        <name>State of Georgia</name>
        <lei>N/A</lei>
        <title>State of Georgia, Series 2017A-1</title>
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          <isin value="US373385AJ21"/>
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        <balance>335000.00000000</balance>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>Empire State Development Corp.</name>
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      <invstOrSec>
        <name>San Francisco Bay Area Rapid Transit District</name>
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          <isin value="US797661XP54"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Atlanta</name>
        <lei>N/A</lei>
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          <isin value="US047870QX19"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Great Lakes Water Authority Water Supply System</name>
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          <isin value="US39081JAW80"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Illinois</name>
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          <isin value="US4521525F40"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York City Transitional Finance Authority Future Tax Secured</name>
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          <isin value="US64971WB825"/>
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        <valUSD>196369.29000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Tucson</name>
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          <isin value="US898797EE12"/>
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        <curCd>USD</curCd>
        <valUSD>230319.61000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
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          <isin value="US64613CAJ71"/>
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        <balance>350000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Ohio Water Development Authority</name>
        <lei>549300QMBH1DMY67FZ74</lei>
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          <isin value="US67765QHX79"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Milwaukee Metropolitan Sewerage District</name>
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          <isin value="US602409LW25"/>
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        <balance>105000.00000000</balance>
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        <valUSD>106587.42000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Florida Department of Environmental Protection</name>
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          <isin value="US34160WYF57"/>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>San Diego Unified School District</name>
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        <name>City of Portland</name>
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          <maturityDt>2026-04-01</maturityDt>
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        <name>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Texas Water Development Board</name>
        <lei>N/A</lei>
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          <isin value="US8828546Q05"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <name>Klein Independent School District</name>
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        <name>New Mexico Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ohio Water Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Illinois Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>District of Columbia</name>
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        <name>Virginia Commonwealth Transportation Board</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Bexar</name>
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        <name>State of Oregon Department of Transportation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rhode Island Commerce Corp.</name>
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        <name>County of Loudoun</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Arizona Lottery</name>
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        <name>County of Williamson</name>
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        <name>Municipality of Anchorage AK</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>State of Texas</name>
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      <invstOrSec>
        <name>City &amp; County of Honolulu</name>
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        <name>Lower Colorado River Authority</name>
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        <name>University of California</name>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <name>Illinois State Toll Highway Authority</name>
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        <name>Dallas Independent School District</name>
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        <name>Sacramento Municipal Utility District</name>
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        <name>Metropolitan Government of Nashville &amp; Davidson County</name>
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        <name>Virginia Resources Authority</name>
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        <name>Oklahoma State University</name>
        <lei>254900M845UI413F1O58</lei>
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        <name>State of Washington</name>
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        <name>Pennsylvania Turnpike Commission</name>
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      <invstOrSec>
        <name>American Municipal Power, Inc.</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Tarrant</name>
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        <name>State of Oregon</name>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Connecticut</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Montgomery</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Santa Monica Community College District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Texas A&amp;M University</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
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        <name>Energy Northwest</name>
        <lei>N/A</lei>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>State of California</name>
        <lei>N/A</lei>
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        <name>County of Harris</name>
        <lei>549300G9BRP25M0W1S40</lei>
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          <maturityDt>2026-10-01</maturityDt>
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        <name>City of Alexandria</name>
        <lei>N/A</lei>
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          <isin value="US0153025L27"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>University of Arizona (The)</name>
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        <name>State of Connecticut</name>
        <lei>N/A</lei>
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          <isin value="US20772KUQ02"/>
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        <name>Metropolitan Council</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Hawaii</name>
        <lei>N/A</lei>
        <title>State of Hawaii, Series FK</title>
        <cusip>419792RC2</cusip>
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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>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
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        <name>Indiana University</name>
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        <name>Board of Regents of the University of Texas System</name>
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        <name>Metropolitan Transportation Authority Dedicated Tax Fund</name>
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        <name>State of California</name>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <name>Missouri Joint Municipal Electric Utility Commission</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Kentucky State Property &amp; Building Commission</name>
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        <name>Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund</name>
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        <name>Rhode Island Health and Educational Building Corp.</name>
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      <invstOrSec>
        <name>Central Puget Sound Regional Transit Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>City of Columbus</name>
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        <name>School District of Broward County</name>
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        <name>California State Public Works Board</name>
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      <invstOrSec>
        <name>Los Angeles Unified School District</name>
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        <name>Spring Independent School District</name>
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        <name>City &amp; County Honolulu</name>
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        <name>Washington Suburban Sanitary Commission</name>
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        <name>Commonwealth of Massachusetts</name>
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        <name>State of Georgia</name>
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        <name>Hampton Roads Sanitation District</name>
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        <name>Dallas Area Rapid Transit</name>
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        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
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      <invstOrSec>
        <name>Massachusetts Transportation Trust Fund Metropolitan Highway System</name>
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      <invstOrSec>
        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax</name>
        <lei>N/A</lei>
        <title>Los Angeles County Metropolitan Transportation Authority Sales Tax, Series 2017A</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>State of Nevada</name>
        <lei>N/A</lei>
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          <isin value="US641462RU23"/>
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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>2026-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Missouri Joint Municipal Electric Utility Commission</name>
        <lei>N/A</lei>
        <title>Missouri Joint Municipal Electric Utility Commission, Series 2024</title>
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          <isin value="US606092PN82"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Maryland Department of Transportation</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Northside Independent School District</name>
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          <isin value="US66702RC671"/>
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        <valUSD>158662.65000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
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        <name>Texas Department of Transportation State Highway Fund</name>
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          <isin value="US88283LGY65"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Utah Transit Authority</name>
        <lei>N/A</lei>
        <title>Utah Transit Authority, Series 2015A</title>
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          <isin value="US917567BM03"/>
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        <balance>655000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>South Carolina Public Service Authority</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Unified School District</name>
        <lei>N/A</lei>
        <title>Los Angeles Unified School District, Series 2018B-1</title>
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          <isin value="US5446466H06"/>
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        <balance>155000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>California State University</name>
        <lei>N/A</lei>
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          <isin value="US13077CV765"/>
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        <fairValLevel>2</fairValLevel>
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        <name>City of New York</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>New York City Transitional Finance Authority</name>
        <lei>5493003476LG35QAKM08</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California State University</name>
        <lei>N/A</lei>
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        <cusip>13077DEH1</cusip>
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          <isin value="US13077DEH17"/>
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        <name>County of Williamson</name>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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      <invstOrSec>
        <name>City of Portland</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>State of Utah</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Virginia Resources Authority</name>
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          <isin value="US92818ML402"/>
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        <valUSD>448378.16000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles Department of Water &amp; Power</name>
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          <isin value="US5444954E11"/>
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        <balance>80000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Philadelphia</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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        <name>New York State Dormitory Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of California</name>
        <lei>N/A</lei>
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          <isin value="US13063DKQ06"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100919.25000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Colorado Health Facilities Authority</name>
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          <isin value="US19648FWA82"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>205195.12000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Clark</name>
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        <balance>110000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Northside Independent School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Metropolitan Water District of Southern California</name>
        <lei>5493003GD0S0P56RLT45</lei>
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          <isin value="US59266TNF48"/>
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        <balance>280000.00000000</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>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>City of New York</name>
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          <isin value="US64966L4K47"/>
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        <balance>180000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Michigan State Building Authority</name>
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          <isin value="US594615GT75"/>
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        <balance>125000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority, Series E</title>
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          <isin value="US45506DZF58"/>
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        <balance>415000.00000000</balance>
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        <name>Lewisville Independent School District</name>
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        <name>Town of Cary</name>
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        <invCountry>US</invCountry>
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        <name>County of Monmouth</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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      <invstOrSec>
        <name>Michigan State Building Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Cambridge</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Florida</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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        <name>Texas Water Development Board</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Virginia Public School Authority</name>
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          <isin value="US92818HBJ95"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Commonwealth of Massachusetts Transportation Fund</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Maine</name>
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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>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US6461362B62"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Fairfax</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Port Authority of New York &amp; New Jersey</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alabama Federal Aid Highway Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-09-01</maturityDt>
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        <name>Clark County School District</name>
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        <name>State of Wisconsin</name>
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          <isin value="US97705MEC55"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-01</maturityDt>
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        <name>Port Authority of New York &amp; New Jersey</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>California Infrastructure &amp; Economic Development Bank, Series 2016</title>
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        <name>City of San Antonio</name>
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        <name>Massachusetts Transportation Trust Fund Metropolitan Highway System</name>
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        <name>District of Columbia Water &amp; Sewer Authority</name>
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        <name>State of Connecticut Special Tax</name>
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        <name>City of Houston</name>
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        <name>BlackRock Liquidity Funds</name>
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        <name>New York State Environmental Facilities Corp.</name>
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        <name>Municipal Electric Authority of Georgia</name>
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        <name>District of Columbia Income Tax</name>
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        <name>State of Mississippi</name>
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        <name>State of Tennessee</name>
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        <name>State of North Carolina</name>
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        <name>Delaware River Port Authority</name>
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        <name>State of Florida Lottery</name>
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        <name>Virginia Commonwealth Transportation Board</name>
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        <name>Pennsylvania Turnpike Commission</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
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        <name>Arizona Transportation Board</name>
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      <invstOrSec>
        <name>City of New York</name>
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        <name>School District of Philadelphia (The)</name>
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      <invstOrSec>
        <name>New Jersey Health Care Facilities Financing Authority</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Baltimore</name>
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          <isin value="US05914FS354"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Antonio Water System</name>
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        <name>City of Colorado Springs Utilities System</name>
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        <name>City of Baltimore</name>
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        <name>County of Prince George's</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Wisconsin Environmental Improvement Fund</name>
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        <name>County of Howard</name>
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        <name>Cypress-Fairbanks Independent School District</name>
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        <name>Henry County School District</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax</name>
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        <name>New York State Dormitory Authority</name>
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        <name>University of California</name>
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        <name>Michigan Finance Authority</name>
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        <name>Board of Regents of the University of Texas System</name>
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        <name>University of California</name>
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        <name>Salt River Project Agricultural Improvement &amp; Power District</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax</name>
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        <name>New York State Environmental Facilities Corp.</name>
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        <name>State of North Carolina</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New York City Transitional Finance Authority Building Aid</name>
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        <name>Private Colleges &amp; Universities Authority</name>
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        <name>Metropolitan Water District of Southern California</name>
        <lei>5493003GD0S0P56RLT45</lei>
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        <name>Clark County School District</name>
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        <name>Denver City &amp; County School District No. 1</name>
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        <name>Alabama Public School and College Authority</name>
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        <name>County of Harris</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Virginia Public School Authority</name>
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        <name>State of Georgia</name>
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        <name>Metropolitan Council</name>
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        <name>Santa Clara County Financing Authority</name>
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          <maturityDt>2026-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Wisconsin</name>
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          <isin value="US97705MKN47"/>
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        <name>State of Wisconsin</name>
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      <invstOrSec>
        <name>Temple University-of The Commonwealth System of Higher Education</name>
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      <invstOrSec>
        <name>Oregon State Lottery</name>
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        <name>State of Nevada Highway Improvement</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Connecticut</name>
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        <name>Metropolitan St Louis Sewer District</name>
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          <maturityDt>2027-05-01</maturityDt>
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        <name>Metropolitan Council</name>
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        <name>State of Oregon</name>
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        <name>County of Hennepin</name>
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        <name>City of Charlotte NC Storm Water Revenue</name>
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      <invstOrSec>
        <name>Florida Department of Environmental Protection</name>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New York State Thruway Authority</name>
        <lei>N/A</lei>
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        <name>New York City Transitional Finance Authority Future Tax Secured</name>
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        <name>Port Authority of New York &amp; New Jersey</name>
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        <name>Ohio Water Development Authority</name>
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        <name>State of Florida Department of Transportation Turnpike System</name>
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        <name>State of Mississippi</name>
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        <name>Miami University</name>
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        <name>University of California</name>
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        <name>State of Washington</name>
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        <name>State of Connecticut</name>
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        <name>County of Bexar</name>
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        <name>Virginia College Building Authority</name>
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        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
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        <name>Massachusetts Water Resources Authority</name>
        <lei>549300GBS2G3YGHOYO19</lei>
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        <invCountry>US</invCountry>
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        <name>Iowa Finance Authority</name>
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        <name>New York City Transitional Finance Authority Building Aid</name>
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        <name>City of Seattle</name>
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        <name>Virginia College Building Authority</name>
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        <name>North Carolina Municipal Power Agency No. 1</name>
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        <name>Los Angeles Unified School District</name>
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        <name>Massachusetts Clean Water Trust (The)</name>
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        <name>Missouri State Environmental Improvement &amp; Energy Resources Authority</name>
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        <name>American Municipal Power, Inc.</name>
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        <name>State of Washington</name>
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          <isCashCollateral>N</isCashCollateral>
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        <name>New Mexico Finance Authority</name>
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        <name>Pennsylvania Turnpike Commission</name>
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        <name>Washington Suburban Sanitary Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <name>University of Massachusetts Building Authority</name>
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          <isin value="US914437TL25"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
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        <name>Nebraska Public Power District</name>
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          <isin value="US63968AH320"/>
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        <balance>490000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Mississippi</name>
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          <isin value="US605581HS95"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-01</maturityDt>
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        <name>Conroe Independent School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
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        <name>State of New Mexico</name>
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        <name>Pennsylvania Turnpike Commission</name>
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        <name>Missouri Highway &amp; Transportation Commission</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured</name>
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        <name>Provo School District</name>
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        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
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        <name>State of California</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-08-01</maturityDt>
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        <name>Arizona Board of Regents</name>
        <lei>N/A</lei>
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        <name>Palm Beach County School District</name>
        <lei>N/A</lei>
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        <name>Metropolitan Transportation Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Cambridge</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System</name>
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      <invstOrSec>
        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax</name>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Alabama Federal Aid Highway Finance Authority</name>
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        <name>County of Baltimore</name>
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        <name>Metropolitan Atlanta Rapid Transit Authority</name>
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        <name>Sales Tax Securitization Corp.</name>
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        <name>University of Minnesota</name>
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        <name>Energy Northwest</name>
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        <name>Grand River Dam Authority</name>
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        <name>State of Rhode Island</name>
        <lei>N/A</lei>
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        <name>Delaware Transportation Authority</name>
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        <name>University of California</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured</name>
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        <name>Northern California Sanitation Agencies Financing Authority</name>
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        <name>Energy Northwest</name>
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        <name>County of Harris</name>
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        <name>Foothill-De Anza Community College District</name>
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        <name>Los Angeles Community College District</name>
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        <name>Indiana Finance Authority</name>
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        <name>City of San Antonio</name>
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      <invstOrSec>
        <name>City of Des Moines</name>
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      <invstOrSec>
        <name>County of Clark Department of Aviation</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nebraska Public Power District</name>
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      <invstOrSec>
        <name>State of Florida Department of Transportation Turnpike System</name>
        <lei>N/A</lei>
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          <isin value="US3431368D29"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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          <isin value="US64990AFY64"/>
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        <balance>365000.00000000</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>2026-03-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Connecticut Special Tax</name>
        <lei>N/A</lei>
        <title>State of Connecticut Special Tax, Series A</title>
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          <isin value="US207758VN03"/>
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        <balance>125000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Illinois Sales Tax</name>
        <lei>N/A</lei>
        <title>State of Illinois Sales Tax, Series 2021C</title>
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          <isin value="US452227SA08"/>
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        <balance>65000.00000000</balance>
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        <valUSD>66067.64000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority, Series 2019E</title>
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          <isin value="US45506D5K74"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Connecticut</name>
        <lei>N/A</lei>
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          <isin value="US20772KBQ13"/>
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        <balance>950000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>967085.75000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>State of Illinois Sales Tax</name>
        <lei>N/A</lei>
        <title>State of Illinois Sales Tax, Series 2016A</title>
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          <isin value="US452227JX02"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Commonwealth of Pennsylvania</name>
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        <balance>105000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Texas A&amp;M University</name>
        <lei>N/A</lei>
        <title>Texas A&amp;M University, Series 2016C</title>
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          <isin value="US88213AFB61"/>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Dallas TX</name>
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        <name>Alabama Public School and College Authority</name>
        <lei>N/A</lei>
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        <cusip>010609BZ7</cusip>
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        <name>Board of Regents of the University of Texas System</name>
        <lei>TEHUYFNKZR6XVWLGEU86</lei>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>California State University</name>
        <lei>N/A</lei>
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        <cusip>13077DAK8</cusip>
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          <isin value="US13077DAK81"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
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      <invstOrSec>
        <name>Main Street Natural Gas, Inc.</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Variable</couponKind>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Phoenix Civic Improvement Corp.</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>California Infrastructure &amp; Economic Development Bank, Series 2019</title>
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          <isin value="US13034AZX17"/>
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        <valUSD>134234.85000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Virginia Resources Authority</name>
        <lei>N/A</lei>
        <title>Virginia Resources Authority, Series 2015</title>
        <cusip>92818N2E7</cusip>
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          <isin value="US92818N2E75"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>141288.71000000</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>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Antonio Independent School District</name>
        <lei>N/A</lei>
        <title>San Antonio Independent School District, Series 2019</title>
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          <isin value="US796269A816"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>287081.42000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Florida</name>
        <lei>5493004G5XFOOUT0LQ57</lei>
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          <isin value="US34153QFK76"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Illinois State Toll Highway Authority</name>
        <lei>549300ISBFGI8MJJKM98</lei>
        <title>Illinois State Toll Highway Authority, Series 2019B</title>
        <cusip>452252NS4</cusip>
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          <isin value="US452252NS43"/>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>339242.07000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>State of Nevada</name>
        <lei>N/A</lei>
        <title>State of Nevada, Series 2015D</title>
        <cusip>641461S74</cusip>
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          <isin value="US641461S743"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>175000.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Clear Creek Independent School District</name>
        <lei>N/A</lei>
        <title>Clear Creek Independent School District, Series 2024</title>
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          <isin value="US184541GL80"/>
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        <balance>125000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
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        <name>Virginia Commonwealth Transportation Board</name>
        <lei>N/A</lei>
        <title>Virginia Commonwealth Transportation Board, Series 2020</title>
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          <isin value="US92778UDA51"/>
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        <balance>75000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>North Texas Tollway Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Grand River Dam Authority</name>
        <lei>549300XGK5KWQHON4Q79</lei>
        <title>Grand River Dam Authority, Series 2016A</title>
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          <isin value="US386442WL73"/>
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        <valUSD>469236.66000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>West Virginia Parkways Authority</name>
        <lei>N/A</lei>
        <title>West Virginia Parkways Authority, Series 2021</title>
        <cusip>956510BE0</cusip>
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          <isin value="US956510BE09"/>
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        <balance>155000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Minnesota Public Facilities Authority State Revolving Fund</name>
        <lei>N/A</lei>
        <title>Minnesota Public Facilities Authority State Revolving Fund, Series 2016B</title>
        <cusip>604115CZ6</cusip>
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          <isin value="US604115CZ65"/>
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        <balance>510000.00000000</balance>
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        <valUSD>514859.64000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>State of Maine</name>
        <lei>N/A</lei>
        <title>State of Maine, Series 2021B</title>
        <cusip>56052AF43</cusip>
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          <isin value="US56052AF433"/>
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        <balance>160000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Santa Barbara Community College District</name>
        <lei>N/A</lei>
        <title>Santa Barbara Community College District, Series 2016</title>
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          <isin value="US801283FV98"/>
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        <invCountry>US</invCountry>
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        <name>County of Fairfax</name>
        <lei>N/A</lei>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>University of Utah (The)</name>
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        <name>Hillsborough County Aviation Authority</name>
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        <name>County of Buncombe</name>
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        <name>City of Falls Church</name>
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        <name>State of Maryland Department of Transportation</name>
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        <name>Commonwealth of Massachusetts</name>
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        <name>Lower Merion School District</name>
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        <name>State of Michigan Trunk Line</name>
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        <name>University of Colorado</name>
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        <name>City of Durham</name>
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        <name>Pennsylvania Turnpike Commission</name>
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        <name>Indiana Finance Authority</name>
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        <name>County of Loudoun</name>
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        <name>State of North Carolina</name>
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        <name>City of Houston</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rancho Water District Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Michigan Finance Authority</name>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Clark</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Texas Tech University System</name>
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          <isin value="US882806DW97"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Conroe Independent School District</name>
        <lei>N/A</lei>
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          <isin value="US208418D914"/>
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        <balance>540000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New York State Thruway Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Illinois</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Howard</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>New York State Environmental Facilities Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
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        <name>Trinity River Authority Central Regional Wastewater System</name>
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        <name>Northside Independent School District</name>
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        <name>City of Plano</name>
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        <name>Ohio Water Development Authority Water Pollution Control Loan Fund</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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      <invstOrSec>
        <name>Virginia Public School Authority</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <name>Virginia Public Building Authority</name>
        <lei>N/A</lei>
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        <name>Aldine Independent School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Salt River Project Agricultural Improvement &amp; Power District</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isin value="US882724JC29"/>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Wake</name>
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        <name>State of Minnesota</name>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>New York City Transitional Finance Authority Future Tax Secured</name>
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        <name>County of Spokane</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ohio Water Development Authority</name>
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        <name>Empire State Development Corp.</name>
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        <name>County of Anne Arundel</name>
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        <name>County of Nassau</name>
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        <name>City of Fort Worth</name>
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          <maturityDt>2026-03-01</maturityDt>
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        <name>State of Ohio</name>
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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>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Port of Seattle</name>
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      <invstOrSec>
        <name>Santa Clara Valley Water District Safe Clean Water</name>
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        <name>Indiana Finance Authority</name>
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        <name>County of Union</name>
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        <name>City of New York</name>
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        <name>South Carolina Public Service Authority</name>
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        <name>Los Angeles Unified School District</name>
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        <name>Central Puget Sound Regional Transit Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Metropolitan Government of Nashville &amp; Davidson County</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Colorado Springs</name>
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        <name>Northwest Independent School District</name>
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        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
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        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Sales Tax Securitization Corp.</name>
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        <name>University of Arizona (The)</name>
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        <name>County of Arlington</name>
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        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
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        <name>Cypress-Fairbanks Independent School District</name>
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        <name>University of Utah (The)</name>
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        <name>San Diego Public Facilities Financing Authority</name>
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        <name>State of Kansas Department of Transportation</name>
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        <name>Washington Metropolitan Area Transit Authority Dedicated</name>
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        <name>Commonwealth of Massachusetts</name>
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        <name>County of Charles</name>
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        <name>Central Florida Expressway Authority</name>
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        <name>City of Seattle</name>
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        <name>Georgia State Road &amp; Tollway Authority</name>
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        <name>City of Phoenix Civic Improvement Corp.</name>
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        <name>JEA Water &amp; Sewer System</name>
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        <name>South Carolina Transportation Infrastructure Bank</name>
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        <name>New York State Thruway Authority</name>
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        <name>City of Memphis</name>
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        <name>State of Maryland</name>
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        <name>Chicago O'Hare International Airport</name>
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        <name>Virginia College Building Authority</name>
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        <name>Karegnondi Water Authority</name>
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        <name>Massachusetts State College Building Authority</name>
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        <name>Cypress-Fairbanks Independent School District</name>
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        <name>University of Pittsburgh-of the Commonwealth System of Higher Education</name>
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        <name>City of Columbus</name>
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        <name>New Jersey Economic Development Authority</name>
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      <invstOrSec>
        <name>Clark County School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Commonwealth of Massachusetts</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Memphis</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of New York</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Florida</name>
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          <isin value="US3411503J70"/>
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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>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of San Antonio</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-01</maturityDt>
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        <name>Maine Turnpike Authority</name>
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        <balance>715000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Triborough Bridge &amp; Tunnel Authority</name>
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        <balance>390000.00000000</balance>
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        <valUSD>402171.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Palm Beach County School District</name>
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        <valUSD>215395.22000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>State of West Virginia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Washington Suburban Sanitary Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Maine Municipal Bond Bank</name>
        <lei>N/A</lei>
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          <isin value="US56045RYS20"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Maryland</name>
        <lei>N/A</lei>
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        <name>Virginia Public School Authority</name>
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        <name>Salt River Project Agricultural Improvement &amp; Power District</name>
        <lei>SHB8HO6GKXJ83RX5OV39</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Commonwealth of Pennsylvania</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Wisconsin</name>
        <lei>549300VTAT608CNZ5827</lei>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</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>
      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System</name>
        <lei>N/A</lei>
        <title>Los Angeles Department of Water &amp; Power Water System, Series 2018B</title>
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          <isin value="US544525XT03"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>278778.36000000</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>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Leander Independent School District</name>
        <lei>N/A</lei>
        <title>Leander Independent School District, Series 2016</title>
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          <isin value="US521841LW49"/>
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        <curCd>USD</curCd>
        <valUSD>101423.14000000</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>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Phoenix Civic Improvement Corp.</name>
        <lei>N/A</lei>
        <title>City of Phoenix Civic Improvement Corp., Series B</title>
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        <identifiers>
          <isin value="US71884AA829"/>
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        <balance>295000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>302179.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Southern California Public Power Authority</name>
        <lei>5493003B5TD5FWUKMD34</lei>
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        <identifiers>
          <isin value="US84247PMQ18"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>81236.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</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>Pennsylvania State University (The)</name>
        <lei>549300QDK4O4XCJ47X56</lei>
        <title>Pennsylvania State University (The), Series A</title>
        <cusip>709235YL3</cusip>
        <identifiers>
          <isin value="US709235YL34"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>154103.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</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>University of California</name>
        <lei>N/A</lei>
        <title>University of California, Series 2017AY</title>
        <cusip>91412G3G8</cusip>
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          <isin value="US91412G3G87"/>
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        <balance>690000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>705022.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</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>Evergreen School District</name>
        <lei>N/A</lei>
        <title>Evergreen School District, Series 2009B</title>
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          <isin value="US300189CT28"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>76774.87000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</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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      <invstOrSec>
        <name>Texas State University System</name>
        <lei>N/A</lei>
        <title>Texas State University System, Series 2019A</title>
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        <identifiers>
          <isin value="US88278PZU10"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>127094.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Connecticut Special Tax</name>
        <lei>N/A</lei>
        <title>State of Connecticut Special Tax, Series A</title>
        <cusip>207758VQ3</cusip>
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          <isin value="US207758VQ34"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>245441.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Louisiana</name>
        <lei>N/A</lei>
        <title>State of Louisiana, Series 2016A</title>
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          <isin value="US5464153T52"/>
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        <balance>330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>338473.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Wake</name>
        <lei>5493007XQJHO082P1H29</lei>
        <title>County of Wake, Series 2016A</title>
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          <isin value="US930876CQ80"/>
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        <balance>255000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>263254.25000000</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>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund</name>
        <lei>N/A</lei>
        <title>Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund, Series 2017B</title>
        <cusip>76221UEG7</cusip>
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          <isin value="US76221UEG76"/>
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        <balance>315000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>323978.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Northampton County General Purpose Authority</name>
        <lei>N/A</lei>
        <title>Northampton County General Purpose Authority, Series 2024A</title>
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          <isin value="US663507CZ26"/>
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        <balance>400000.00000000</balance>
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        <valUSD>412165.52000000</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>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky Infrastructure Authority</name>
        <lei>N/A</lei>
        <title>Kentucky Infrastructure Authority, Series 2015A</title>
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          <isin value="US4913137F31"/>
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        <valUSD>100167.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Plano Independent School District</name>
        <lei>N/A</lei>
        <title>Plano Independent School District, Series 2016A</title>
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          <isin value="US727199XK24"/>
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        <balance>150000.00000000</balance>
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        <valUSD>152028.98000000</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>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Hawaii HI</name>
        <lei>N/A</lei>
        <title>County of Hawaii, Series C</title>
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          <isin value="US419722P728"/>
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        <balance>80000.00000000</balance>
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        <valUSD>81216.33000000</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>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Howard</name>
        <lei>N/A</lei>
        <title>County of Howard, Series 2019B</title>
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          <isin value="US44256PUM30"/>
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        <balance>195000.00000000</balance>
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        <curCd>USD</curCd>
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        <name>University of Utah (The)</name>
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        <name>Michigan State Building Authority</name>
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        <name>Oklahoma Water Resources Board</name>
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        <name>Indiana Finance Authority</name>
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        <name>New Mexico Finance Authority</name>
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        <name>School District of Broward County</name>
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        <name>Chicago O'Hare International Airport</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Park Hill School District of Platte County</name>
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        <name>City of Kansas City</name>
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        <name>University of Arizona (The)</name>
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        <name>Cascade Water Alliance</name>
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        <name>Timpanogos Special Service District</name>
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        <name>Trinity River Authority Central Regional Wastewater System</name>
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        <name>State of Connecticut</name>
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        <name>State of Minnesota</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Tennessee State School Bond Authority</name>
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        <name>Pierce County School District No. 10 Tacoma</name>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Clear Creek Independent School District</name>
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        <name>State of Washington</name>
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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>City of Colorado Springs</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Texas Water Development Board</name>
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        <name>State of Wisconsin</name>
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        <name>State of Oregon</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax</name>
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        <name>City of Charlotte</name>
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        <name>State of Connecticut</name>
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        <name>Virginia Public School Authority</name>
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        <name>State of Oregon</name>
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        <name>Florida Department of Environmental Protection</name>
        <lei>N/A</lei>
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        <name>Clark County School District No. 37 Vancouver</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax</name>
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        <name>Board of Regents of the University of Texas System</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Texas Water Development Board</name>
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          <isin value="US882854M583"/>
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        <fairValLevel>2</fairValLevel>
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        <name>New Jersey Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Texas</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>State of Maryland</name>
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          <isin value="US574193RP52"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>230895.54000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>California State Public Works Board</name>
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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>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Commonwealth of Pennsylvania</name>
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          <isin value="US70914PB680"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1128888.53000000</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>2026-09-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City &amp; County of Honolulu</name>
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          <isin value="US438670Y546"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Florida</name>
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        <balance>305000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>305382.84000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City &amp; County Honolulu</name>
        <lei>N/A</lei>
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          <isin value="US438701ZM90"/>
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        <balance>100000.00000000</balance>
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        <valUSD>100250.94000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>City of New York</name>
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        <valUSD>1024698.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Indiana Municipal Power Agency</name>
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          <isin value="US454898UJ41"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>178588.11000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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          <isin value="US64990FZ803"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia Income Tax</name>
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        <balance>100000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Texas Water Development Board</name>
        <lei>N/A</lei>
        <title>Texas Water Development Board, Series 2016</title>
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          <isin value="US882854YD88"/>
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        <balance>585000.00000000</balance>
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        <valUSD>596465.12000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Salt River Project Agricultural Improvement &amp; Power District</name>
        <lei>SHB8HO6GKXJ83RX5OV39</lei>
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        <balance>250000.00000000</balance>
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        <valUSD>253143.33000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lower Colorado River Authority</name>
        <lei>549300QJFPW2NNBYR215</lei>
        <title>Lower Colorado River Authority, Series B</title>
        <cusip>54811GZS2</cusip>
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          <isin value="US54811GZS29"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>190260.93000000</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>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Hawaii</name>
        <lei>N/A</lei>
        <title>State of Hawaii, Series FN</title>
        <cusip>419792SF4</cusip>
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        <name>Iowa Finance Authority</name>
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        <name>Palos Verdes Peninsula Unified School District</name>
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        <name>Pennsylvania State University (The)</name>
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        <name>City of Spokane</name>
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        <name>Commonwealth of Massachusetts</name>
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        <name>Round Rock Independent School District</name>
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        <name>State of Ohio</name>
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        <name>County of Frederick</name>
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        <name>County of Chester</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>State of Ohio</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California State Public Works Board</name>
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        <name>Contra Costa Transportation Authority Sales Tax</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Port Authority of New York &amp; New Jersey</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Metropolitan Transportation Authority Dedicated Tax Fund</name>
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        <name>North Texas Tollway Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Commonwealth of Massachusetts</name>
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        <name>City of Westminster Water &amp; Wastewater Utility Revenue</name>
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          <maturityDt>2026-09-01</maturityDt>
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        <balance>855000.00000000</balance>
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        <name>Chicago O'Hare International Airport</name>
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        <name>Sacramento Municipal Utility District</name>
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        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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        <invCountry>US</invCountry>
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        <name>Central Utah Water Conservancy District</name>
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        <name>Minneapolis-St Paul Metropolitan Airports Commission</name>
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        <name>Houston Independent School District</name>
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          <maturityDt>2026-02-15</maturityDt>
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        <name>Maine Municipal Bond Bank</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>State of Ohio</name>
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        <name>City of Austin</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>Monmouth County Improvement Authority (The)</name>
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        <name>Conroe Independent School District</name>
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        <name>City of Seattle</name>
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        <name>University of Washington</name>
        <lei>T8YS5W0N70BYCTHPA429</lei>
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        <name>Chicago Midway International Airport</name>
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        <name>DuPage County Forest Preserve District</name>
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        <name>Virginia Public Building Authority</name>
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          <isin value="US928172Z406"/>
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        <name>State of Louisiana</name>
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        <name>State of Illinois</name>
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        <name>State of Maryland</name>
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        <name>Delaware Transportation Authority</name>
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        <name>County of Frederick</name>
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        <name>Florida Department of Environmental Protection</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured</name>
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        <name>State of Oregon Department of Transportation</name>
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        <name>State of California</name>
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        <name>County of Loudoun</name>
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        <name>Rhode Island Commerce Corp.</name>
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        <name>Great Lakes Water Authority Water Supply System</name>
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        <name>New York City Transitional Finance Authority Building Aid</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>City of Long Beach</name>
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        <name>Missouri Highway &amp; Transportation Commission</name>
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      <invstOrSec>
        <name>University of Massachusetts Building Authority</name>
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          <isin value="US914437SV16"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>University of Hawaii</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Chesapeake</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Delaware</name>
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          <isin value="US246381NZ69"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Maine Municipal Bond Bank</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of New York</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Montgomery</name>
        <lei>549300GNX5SDUEBKPK13</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Indianapolis Department of Public Utilities Water System</name>
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          <isin value="US455412BG09"/>
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        <fairValLevel>2</fairValLevel>
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        <name>New York City Transitional Finance Authority Future Tax Secured</name>
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        <name>State of Connecticut</name>
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        <name>City of Atlanta</name>
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        <name>City of Yonkers</name>
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        <name>Alamo Community College District</name>
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        <name>County of Salt Lake</name>
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        <name>Empire State Development Corp.</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>State of Minnesota</name>
        <lei>N/A</lei>
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          <isin value="US60412AGQ04"/>
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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>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Permanent University Fund - Texas A&amp;M University System</name>
        <lei>N/A</lei>
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          <isin value="US8821172F04"/>
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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>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Nevada Highway Improvement</name>
        <lei>N/A</lei>
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          <isin value="US641480HZ44"/>
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        <curCd>USD</curCd>
        <valUSD>213390.77000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
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          <isin value="US646136W987"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>200122.70000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Triborough Bridge &amp; Tunnel Authority</name>
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          <isin value="US89602N6U33"/>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97964.95000000</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>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Huntsville</name>
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          <isin value="US447025WT05"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40827.02000000</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>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Richmond</name>
        <lei>N/A</lei>
        <title>City of Richmond, Series 2017D</title>
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          <isin value="US76541VSZ12"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>193156.15000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Missouri Highway &amp; Transportation Commission</name>
        <lei>N/A</lei>
        <title>Missouri Highway &amp; Transportation Commission, Series A</title>
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          <isin value="US60636WRA52"/>
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        <balance>155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>155806.81000000</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>2026-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pennsylvania Housing Finance Agency</name>
        <lei>549300JZVUPNWP77SP29</lei>
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          <isin value="US70879QPF45"/>
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        <balance>100000.00000000</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>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Florida</name>
        <lei>5493004G5XFOOUT0LQ57</lei>
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          <isin value="US3411506R69"/>
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        <balance>485000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>496767.75000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Pennsylvania Turnpike Commission</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
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          <isin value="US709224XA23"/>
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        <balance>525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>535328.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Clark County School District</name>
        <lei>N/A</lei>
        <title>Clark County School District, Series 2017A</title>
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          <isin value="US181059WW20"/>
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        <balance>305000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia Income Tax</name>
        <lei>N/A</lei>
        <title>District of Columbia Income Tax, Series 2020C</title>
        <cusip>25477GSQ9</cusip>
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          <isin value="US25477GSQ90"/>
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        <balance>75000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia, Series 2017D</title>
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          <isin value="US25476FUW66"/>
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        <balance>145000.00000000</balance>
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        <valUSD>148240.78000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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        <name>Commonwealth of Virginia</name>
        <lei>N/A</lei>
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          <isin value="US928109S320"/>
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        <balance>125000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>City &amp; County of Honolulu</name>
        <lei>N/A</lei>
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          <isin value="US438687ML60"/>
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        <balance>240000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Southern California Public Power Authority</name>
        <lei>5493003B5TD5FWUKMD34</lei>
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        <cusip>84247PJU6</cusip>
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        <name>Triborough Bridge &amp; Tunnel Authority</name>
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        <name>Massachusetts Clean Water Trust (The)</name>
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        <name>San Antonio Water System</name>
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        <name>Clear Creek Independent School District</name>
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        <name>City of Philadelphia</name>
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        <name>Texas Water Development Board</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New York City Transitional Finance Authority Building Aid</name>
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        <name>County of Montgomery</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Denver City &amp; County School District No. 1</name>
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          <isin value="US249174WF67"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ohio Water Development Authority Water Pollution Control Loan Fund</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Maryland Health &amp; Higher Educational Facilities Authority</name>
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        <name>San Diego County Water Authority</name>
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        <name>South Carolina Public Service Authority</name>
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        <name>City of Gainesville</name>
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        <name>State of Washington</name>
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        <name>State of Illinois</name>
        <lei>54930048FV8RWPR02D67</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>University of Washington</name>
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      <invstOrSec>
        <name>Commonwealth of Massachusetts</name>
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        <name>Clark County Water Reclamation District</name>
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        <name>New York State Dormitory Authority</name>
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        <name>City of Austin</name>
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        <name>State of Iowa</name>
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        <name>State of Washington</name>
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        <name>Horry County School District</name>
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        <name>Oklahoma Turnpike Authority</name>
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        <name>Clark County School District</name>
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        <name>Santa Clara Valley Transportation Authority</name>
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        <name>State of Wisconsin</name>
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      <invstOrSec>
        <name>Austin Community College District Public Facility Corp.</name>
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        <name>State of New Mexico Severance Tax Permanent Fund</name>
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        <name>District of Columbia</name>
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        <name>State of Maryland Department of Transportation</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Arizona Board of Regents</name>
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        <name>County of Salt Lake</name>
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        <name>Idaho Housing &amp; Finance Association</name>
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        <name>District of Columbia Income Tax</name>
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        <name>Commonwealth of Pennsylvania</name>
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        <name>City &amp; County of Honolulu</name>
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        <name>Indiana Finance Authority</name>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
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      <invstOrSec>
        <name>Folsom Cordova Unified School District School Facilities Improvement Dist No. 4</name>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
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      <invstOrSec>
        <name>City of Portland</name>
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          <isin value="US736740TC58"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
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      <invstOrSec>
        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
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          <isin value="US20775DUY65"/>
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        <balance>540000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2057-07-01</maturityDt>
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        <name>Klein Independent School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Nevada</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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        <name>Delaware Transportation Authority</name>
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        <balance>405000.00000000</balance>
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        <valUSD>414826.68000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>Delaware Transportation Authority</name>
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        <balance>570000.00000000</balance>
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        <name>Illinois Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lone Star College System</name>
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        <name>Athens-Clarke County</name>
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        <name>State of Louisiana Gasoline &amp; Fuels Tax</name>
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        <name>County of Miami-Dade</name>
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        <name>Vermont Municipal Bond Bank</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Omaha Public Power District Nebraska City Station Unit 2</name>
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          <maturityDt>2026-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Palm Beach County School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>University of Michigan</name>
        <lei>N/A</lei>
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          <isin value="US914455SK73"/>
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          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>West Virginia Commissioner of Highways</name>
        <lei>N/A</lei>
        <title>West Virginia Commissioner of Highways, Series 2017A</title>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Illinois</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Howard</name>
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        <name>Ohio Water Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Texas State Technical College</name>
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        <name>Pennsylvania State University (The)</name>
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        <name>Denver City &amp; County School District No. 1</name>
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        <name>Dallas Fort Worth International Airport</name>
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        <name>State of Illinois</name>
        <lei>54930048FV8RWPR02D67</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kentucky State Property &amp; Building Commission</name>
        <lei>N/A</lei>
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          <isin value="US49151F4M95"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Jacinto Community College District</name>
        <lei>N/A</lei>
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          <isin value="US798025LG58"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Long Island Power Authority</name>
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          <isin value="US542691ED89"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System</name>
        <lei>N/A</lei>
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          <isin value="US544525TV05"/>
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        <balance>445000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York State Thruway Authority</name>
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          <isin value="US650009P314"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of California</name>
        <lei>N/A</lei>
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          <isin value="US13063DKA53"/>
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        <balance>950000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Miami-Dade</name>
        <lei>N/A</lei>
        <title>County of Miami-Dade, Series B</title>
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          <isin value="US59333PS252"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>423100.27000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Clark</name>
        <lei>549300LDD8NZB2EOVG83</lei>
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        <balance>530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>545956.92000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Mexico Finance Authority</name>
        <lei>549300L6217Y7X40SP94</lei>
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          <isin value="US64711RMT04"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>117468.82000000</valUSD>
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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>Triborough Bridge &amp; Tunnel Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
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        <cusip>93974DZM3</cusip>
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        <valUSD>158479.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>New York City Transitional Finance Authority Future Tax Secured</name>
        <lei>N/A</lei>
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        <cusip>64971WQ94</cusip>
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          <isin value="US64971WQ948"/>
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        <balance>235000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Energy Northwest</name>
        <lei>N/A</lei>
        <title>Energy Northwest, Series 2017A</title>
        <cusip>29270CU45</cusip>
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          <isin value="US29270CU455"/>
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        <balance>775000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>793624.26000000</valUSD>
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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>Metropolitan Transportation Authority Dedicated Tax Fund</name>
        <lei>5493000TKYODLXADQD60</lei>
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        <balance>300000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <valUSD>218403.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lewisville Independent School District</name>
        <lei>N/A</lei>
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          <isin value="US5288287H33"/>
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        <balance>145000.00000000</balance>
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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>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Crowley Independent School District</name>
        <lei>N/A</lei>
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        <valUSD>100444.37000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Virginia Resources Authority</name>
        <lei>N/A</lei>
        <title>Virginia Resources Authority, Series 2017C</title>
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          <isin value="US92818MRN29"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Indiana Municipal Power Agency</name>
        <lei>AX0ZCCVOQ71Z4RXBL233</lei>
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          <isin value="US454898XH57"/>
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        <balance>260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>262878.82000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Leander Independent School District</name>
        <lei>N/A</lei>
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          <isin value="US521841WH52"/>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>446279.81000000</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>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Oregon State Lottery</name>
        <lei>N/A</lei>
        <title>Oregon State Lottery, Series 2015C</title>
        <cusip>68607VN35</cusip>
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          <isin value="US68607VN356"/>
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        <balance>2030000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2030393.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York State Thruway Authority</name>
        <lei>N/A</lei>
        <title>New York State Thruway Authority, Series P</title>
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          <isin value="US650009Y563"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>608634.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Escondido Union High School District</name>
        <lei>N/A</lei>
        <title>Escondido Union High School District, Series 2008A</title>
        <cusip>296353KR5</cusip>
        <identifiers>
          <isin value="US296353KR53"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48043.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tennessee State School Bond Authority</name>
        <lei>N/A</lei>
        <title>Tennessee State School Bond Authority, Series A</title>
        <cusip>880558JF9</cusip>
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          <isin value="US880558JF96"/>
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        <balance>540000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>555226.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>New York City Transitional Finance Authority Building Aid</name>
        <lei>N/A</lei>
        <title>New York City Transitional Finance Authority Building Aid, Series 2019S-2A</title>
        <cusip>64972H7Q9</cusip>
        <identifiers>
          <isin value="US64972H7Q93"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>76842.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>City of New York</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>City of New York, Series 2018E-1</title>
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          <isin value="US64966MWV70"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>116862.62000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Pierce County School District No. 10 Tacoma</name>
        <lei>N/A</lei>
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          <isin value="US720424XX39"/>
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        <balance>735000.00000000</balance>
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        <valUSD>735690.31000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Phoenix Civic Improvement Corp.</name>
        <lei>N/A</lei>
        <title>City of Phoenix Civic Improvement Corp., Series 2005B</title>
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          <isin value="US71884WAQ42"/>
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        <balance>40000.00000000</balance>
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        <valUSD>41201.28000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000080</annualizedRt>
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      <invstOrSec>
        <name>Aldine Independent School District</name>
        <lei>N/A</lei>
        <title>Aldine Independent School District, Series 2017</title>
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          <isin value="US014393WJ74"/>
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        <balance>395000.00000000</balance>
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        <valUSD>401103.11000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
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          <isin value="US59261ANH67"/>
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        <balance>720000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
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          <isin value="US25476FSQ27"/>
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        <balance>360000.00000000</balance>
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        <valUSD>368046.07000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Mateo County Community College District</name>
        <lei>N/A</lei>
        <title>San Mateo County Community College District, Series 2006B</title>
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          <isin value="US799038GA62"/>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>91066.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Kansas Department of Transportation</name>
        <lei>5493001635XK841MIO47</lei>
        <title>State of Kansas Department of Transportation, Series 2018A</title>
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          <isin value="US485424SD89"/>
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        <balance>530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>544372.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Keller Independent School District</name>
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        <name>State of Connecticut Special Tax</name>
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        <name>Ohio Water Development Authority Water Pollution Control Loan Fund</name>
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        <name>Chicago O'Hare International Airport</name>
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        <name>University of Nebraska Facilities Corp. (The)</name>
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        <name>State of Mississippi</name>
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        <name>Orange County School Board</name>
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        <name>County of King</name>
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        <name>Texas Water Development Board</name>
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        <name>State of North Carolina</name>
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        <name>County of Wake</name>
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        <name>State of Florida Department of Transportation Turnpike System</name>
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        <name>Alabama Federal Aid Highway Finance Authority</name>
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        <name>Port Authority of New York &amp; New Jersey</name>
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        <name>Omaha Public Power District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles Department of Water &amp; Power Water System</name>
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        <name>Municipal Electric Authority of Georgia</name>
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        <name>State of Wisconsin</name>
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          <maturityDt>2026-05-01</maturityDt>
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        <name>Board of Regents of the University of Texas System</name>
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        <name>State of Tennessee</name>
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        <name>County of Montgomery</name>
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        <name>North Carolina Capital Facilities Finance Agency</name>
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        <name>Lamar Consolidated Independent School District</name>
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        <name>Intermountain Power Agency</name>
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        <name>Arizona Transportation Board</name>
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        <name>State of Michigan</name>
        <lei>N/A</lei>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>University of Utah (The)</name>
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          <isin value="US915183WL72"/>
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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>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tennessee State School Bond Authority</name>
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          <isin value="US880558LQ24"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Charles</name>
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          <isin value="US159808QR82"/>
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        <balance>100000.00000000</balance>
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        <valUSD>102778.64000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Metropolitan Government of Nashville &amp; Davidson County</name>
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          <isin value="US592098R744"/>
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        <balance>465000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Tennessee</name>
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          <isin value="US880541WS29"/>
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        <balance>165000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
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          <isin value="US64990AUN35"/>
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        <balance>265000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
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          <isin value="US64990E4V64"/>
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        <balance>675000.00000000</balance>
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        <valUSD>693411.17000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of California</name>
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        <balance>660000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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        <name>State of Florida</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
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        <name>City of Austin</name>
        <lei>IW10PQVTU7HKS3JMW253</lei>
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          <isin value="US052397TH93"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Beverly Hills Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US088023HV12"/>
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        <balance>100000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>State of California</name>
        <lei>N/A</lei>
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        <balance>390000.00000000</balance>
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        <valUSD>390200.54000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Chesterfield</name>
        <lei>N/A</lei>
        <title>County of Chesterfield, Series 2017B</title>
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          <isin value="US1663936R42"/>
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        <balance>185000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Fairfax</name>
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        <invCountry>US</invCountry>
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        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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        <balance>410000.00000000</balance>
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      <invstOrSec>
        <name>Intermountain Power Agency</name>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Grossmont Union High School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Chicago O'Hare International Airport</name>
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      <invstOrSec>
        <name>Arizona Department of Transportation State Highway Fund</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Prince George's</name>
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        <name>County of Hamilton</name>
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        <name>Metropolitan Government of Nashville &amp; Davidson County</name>
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        <fairValLevel>2</fairValLevel>
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        <name>North Texas Municipal Water District Upper East Fork Wastewater Interceptor Sys</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
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        <name>City of New York</name>
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        <name>County of Harris</name>
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        <name>Essex County Improvement Authority</name>
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        <name>Wisconsin Department of Transportation</name>
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        <name>New York City Transitional Finance Authority Building Aid</name>
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        <name>Central Florida Tourism Oversight District</name>
        <lei>549300DLSKH6SZ96KV94</lei>
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        <name>State of California Department of Water Resources</name>
        <lei>549300X618YEC5LGBQ98</lei>
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        <name>City of Atlanta</name>
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        <name>Commonwealth of Massachusetts Federal Highway Grant Anticipation Note</name>
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        <name>Metropolitan Government of Nashville &amp; Davidson County</name>
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        <name>State of Hawaii</name>
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        <name>Port of Seattle</name>
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        <name>Virginia Commonwealth Transportation Board</name>
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        <name>Florida Insurance Assistance Interlocal Agency, Inc.</name>
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        <name>State of Michigan Trunk Line</name>
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      <invstOrSec>
        <name>Massachusetts Bay Transportation Authority Sales Tax</name>
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        <name>State of Georgia</name>
        <lei>N/A</lei>
        <title>State of Georgia, Series 2019A</title>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Austin Independent School District</name>
        <lei>N/A</lei>
        <title>Austin Independent School District, Series 2023</title>
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          <isin value="US052430VK85"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Washington Metropolitan Area Transit Authority</name>
        <lei>549300ADKOK76HQMJS30</lei>
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          <isin value="US938782EN53"/>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Wisconsin Environmental Improvement Fund</name>
        <lei>N/A</lei>
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          <isin value="US97709TAZ93"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>700914.34000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Virginia Public School Authority</name>
        <lei>N/A</lei>
        <title>Virginia Public School Authority, Series 2016B</title>
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          <isin value="US92818HEZ01"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>179433.17000000</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>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northside Independent School District</name>
        <lei>N/A</lei>
        <title>Northside Independent School District, Series 2021</title>
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          <isin value="US66702RZY16"/>
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        <curCd>USD</curCd>
        <valUSD>214962.30000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Santa Monica-Malibu Unified School District</name>
        <lei>N/A</lei>
        <title>Santa Monica-Malibu Unified School District, Series 2012D</title>
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          <isin value="US802498RQ09"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40081.12000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vermont Municipal Bond Bank</name>
        <lei>54930081EMY8D1GYM846</lei>
        <title>Vermont Municipal Bond Bank, Series 4</title>
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          <isin value="US924214F790"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>108268.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Florida Lottery</name>
        <lei>N/A</lei>
        <title>State of Florida Lottery, Series 2016A</title>
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          <isin value="US341507P700"/>
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        <balance>145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>148379.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Las Vegas Valley Water District</name>
        <lei>N/A</lei>
        <title>Las Vegas Valley Water District, Series C</title>
        <cusip>5178407P3</cusip>
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          <isin value="US5178407P31"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>151047.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-15</maturityDt>
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      <invstOrSec>
        <name>State of Arkansas</name>
        <lei>N/A</lei>
        <title>State of Arkansas, Series 2014</title>
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          <isin value="US041042ZH89"/>
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        <balance>20000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Santa Monica Community College District</name>
        <lei>N/A</lei>
        <title>Santa Monica Community College District, Series 2009C</title>
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          <isin value="US802385JM74"/>
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        <balance>500000.00000000</balance>
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        <valUSD>480788.30000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Los Angeles Community College District</name>
        <lei>N/A</lei>
        <title>Los Angeles Community College District, Series I</title>
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          <isin value="US54438CVF66"/>
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        <balance>205000.00000000</balance>
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        <valUSD>207915.02000000</valUSD>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
        <title>State of Ohio, Series 2016-1</title>
        <cusip>677581GH7</cusip>
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          <isin value="US677581GH72"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>224222.13000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>City of Portland</name>
        <lei>N/A</lei>
        <title>City of Portland Water System, Series 2019A</title>
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          <isin value="US736754PX43"/>
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        <balance>100000.00000000</balance>
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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>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Seattle</name>
        <lei>N/A</lei>
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          <isin value="US8126263Y39"/>
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        <balance>315000.00000000</balance>
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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>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oklahoma County Independent School District No. 89 Oklahoma City</name>
        <lei>N/A</lei>
        <title>Oklahoma County Independent School District No. 89 Oklahoma City, Series 2023A</title>
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          <isin value="US678841LL99"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>City of Phoenix Civic Improvement Corp.</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured</name>
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        <name>Utah Transit Authority</name>
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        <name>Empire State Development Corp.</name>
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        <name>San Francisco Bay Area Rapid Transit District</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured</name>
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        <name>Illinois Finance Authority</name>
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        <name>Hudson Yards Infrastructure Corp.</name>
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        <name>Clovis Unified School District</name>
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        <name>State of California Department of Water Resources</name>
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      <invstOrSec>
        <name>California State Public Works Board</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Commonwealth of Massachusetts</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Energy Northwest</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
        <name>City &amp; County of Denver</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Columbus</name>
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          <isin value="US199492QS13"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>County of Fairfax</name>
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          <isin value="US30382AEN81"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Permanent University Fund - Texas A&amp;M University System</name>
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          <isin value="US882117M841"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100234.05000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Auburn University</name>
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          <isin value="US050589RL67"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Los Angeles</name>
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        <name>State of Maine</name>
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        <name>Los Angeles Unified School District</name>
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        <name>County of Charleston</name>
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        <name>Virginia Public Building Authority</name>
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        <name>Alameda Unified School District-Alameda County</name>
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        <name>San Mateo County Community College District</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-09-01</maturityDt>
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      <invstOrSec>
        <name>Massachusetts School Building Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Seattle</name>
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      <invstOrSec>
        <name>City of Seattle</name>
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        <name>State of Ohio</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Empire State Development Corp.</name>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Pennsylvania Turnpike Commission</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>School Building Authority of West Virginia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Texas</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>County of Anne Arundel</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Riverside County Transportation Commission Sales Tax</name>
        <lei>N/A</lei>
        <title>Riverside County Transportation Commission Sales Tax, Series 2016A</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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        <name>City of Columbus</name>
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        <name>San Juan Unified School District</name>
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          <maturityDt>2026-08-01</maturityDt>
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        <name>Las Vegas Valley Water District</name>
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          <isin value="US5178407B45"/>
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          <maturityDt>2026-12-01</maturityDt>
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        <name>New York City Transitional Finance Authority Building Aid</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Hawaii</name>
        <lei>N/A</lei>
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          <isin value="US419792WB88"/>
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          <maturityDt>2026-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Rhode Island</name>
        <lei>N/A</lei>
        <title>State of Rhode Island, Series 2017A</title>
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        <balance>345000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28882.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York State Environmental Facilities Corp.</name>
        <lei>549300QJ33JJW73OQO60</lei>
        <title>New York State Environmental Facilities Corp., Series 2017E</title>
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          <isin value="US64986DFD21"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Florida</name>
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          <isin value="US3411505V80"/>
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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>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York City Municipal Water Finance Authority</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
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        <cusip>64972GUR3</cusip>
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          <isin value="US64972GUR37"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>81922.69000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Texas Department of Transportation State Highway Fund</name>
        <lei>N/A</lei>
        <title>Texas Department of Transportation State Highway Fund, Series 2016A</title>
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          <isin value="US88283LKK16"/>
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        <balance>555000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>570741.85000000</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>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority, Series 2016</title>
        <cusip>45204EKC1</cusip>
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          <isin value="US45204EKC11"/>
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        <balance>235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>237975.78000000</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>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles County Public Works Financing Authority</name>
        <lei>N/A</lei>
        <title>Los Angeles County Public Works Financing Authority, Series 2015B</title>
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          <isin value="US54473ERE67"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>131500.77000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Mexico Finance Authority</name>
        <lei>549300L6217Y7X40SP94</lei>
        <title>New Mexico Finance Authority, Series 2022B</title>
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          <isin value="US64711PKM13"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>127593.49000000</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>2026-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Triborough Bridge &amp; Tunnel Authority</name>
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          <isin value="US89602N5D27"/>
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        <balance>445000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>454074.26000000</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>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Connecticut</name>
        <lei>N/A</lei>
        <title>State of Connecticut, Series 2016A</title>
        <cusip>20772JT28</cusip>
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          <isin value="US20772JT282"/>
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        <balance>260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>261962.87000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>City of Memphis</name>
        <lei>N/A</lei>
        <title>City of Memphis Electric System, Series 2024</title>
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          <isin value="US586158RY58"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>360774.12000000</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>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Glendale</name>
        <lei>N/A</lei>
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        <balance>510000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>511622.97000000</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>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Boston</name>
        <lei>N/A</lei>
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        <cusip>100853WK2</cusip>
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          <isin value="US100853WK22"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80728.58000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
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        <curCd>USD</curCd>
        <valUSD>209581.79000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
        <lei>549300ROY505NVTMMI25</lei>
        <title>Tarrant County Cultural Education Facilities Finance Corp., Series 2022E</title>
        <cusip>87638QSF7</cusip>
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          <isin value="US87638QSF71"/>
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        <balance>500000.00000000</balance>
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        <valUSD>506297.75000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oklahoma Turnpike Authority</name>
        <lei>549300J83EP2PBDYH615</lei>
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          <isin value="US679111A796"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Alvin Independent School District</name>
        <lei>N/A</lei>
        <title>Alvin Independent School District, Series 2016</title>
        <cusip>022447D60</cusip>
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          <isin value="US022447D602"/>
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        <balance>305000.00000000</balance>
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        <valUSD>309595.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York State Thruway Authority</name>
        <lei>N/A</lei>
        <title>New York State Thruway Authority, Series 2016A</title>
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          <isin value="US650010AM38"/>
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        <balance>150000.00000000</balance>
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        <name>Contra Costa Water District</name>
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        <name>Midland Independent School District</name>
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        <name>State of Connecticut</name>
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        <name>Ohio State University (The)</name>
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        <name>Virginia College Building Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New York City Municipal Water Finance Authority</name>
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        <name>State of Washington</name>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <name>City of Memphis</name>
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        <name>State of Connecticut Special Tax Revenue</name>
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        <name>Iowa Finance Authority</name>
        <lei>549300NQVL49BTHOW391</lei>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of San Antonio</name>
        <lei>549300S7VENCVRZAA322</lei>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax</name>
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        <name>University of Michigan</name>
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        <name>Cypress-Fairbanks Independent School District</name>
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        <name>Illinois Finance Authority</name>
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      <invstOrSec>
        <name>City of Austin</name>
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        <name>Indiana University</name>
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        <name>Texas A&amp;M University</name>
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      <invstOrSec>
        <name>Minneapolis-St Paul Metropolitan Airports Commission</name>
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        <name>Indiana Municipal Power Agency</name>
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        <name>State of North Carolina</name>
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        <name>Round Rock Independent School District</name>
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        <name>Energy Northwest</name>
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        <name>State of Florida Department of Transportation Turnpike System</name>
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        <name>Central Florida Expressway Authority</name>
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        <name>County of Pima</name>
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        <name>Indianapolis Local Public Improvement Bond Bank</name>
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        <name>Empire State Development Corp.</name>
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      <invstOrSec>
        <name>Arizona State University</name>
        <lei>254900BLZ1MCZ5JLK411</lei>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pennsylvania Housing Finance Agency</name>
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        <name>City of New York</name>
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          <isin value="US594612DQ33"/>
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        <name>County of Carroll</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Florida Lottery</name>
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        <balance>385000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>394207.39000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Minnesota Public Facilities Authority State Revolving Fund</name>
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          <isin value="US604115CK96"/>
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        <valUSD>188013.71000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Phoenix</name>
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          <isin value="US718814Q588"/>
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        <balance>435000.00000000</balance>
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        <valUSD>444179.89000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Pennsylvania Turnpike Commission</name>
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          <isin value="US709224HD46"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>280315.81000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Omaha Public Power District</name>
        <lei>54930000VJEJ9CGIYG32</lei>
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          <isin value="US682001EX68"/>
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        <balance>725000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-01</maturityDt>
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        <name>City of Austin</name>
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        <balance>265000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
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        <name>Hampton Roads Sanitation District</name>
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        <title>Hampton Roads Sanitation District, Series 2016A</title>
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          <maturityDt>2027-08-01</maturityDt>
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        <name>Austin Independent School District</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>Long Island Power Authority</name>
        <lei>1R46U5SYJ63KQXF39168</lei>
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          <isin value="US5426907Z94"/>
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        <invCountry>US</invCountry>
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        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
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          <isin value="US93974EAD85"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Arizona Board of Regents</name>
        <lei>N/A</lei>
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          <isin value="US040664AA27"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Baltimore</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2009-1</title>
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        <valUSD>19255.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
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      <invstOrSec>
        <name>Idaho Housing &amp; Finance Association</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Allen Independent School District</name>
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          <isin value="US018106JX31"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Prince George's</name>
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          <isin value="US7417016D38"/>
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        <balance>455000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>466283.32000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Baltimore</name>
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          <isin value="US05914FXD76"/>
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        <balance>135000.00000000</balance>
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        <valUSD>135610.11000000</valUSD>
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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>Public Power Generation Agency</name>
        <lei>N/A</lei>
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          <isin value="US744434EX55"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>505860.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Texas</name>
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          <isin value="US882724KH96"/>
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        <valUSD>138470.19000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Ohio</name>
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          <isin value="US677522B786"/>
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        <balance>215000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
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        <name>State of Wisconsin</name>
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          <isin value="US97705MBM64"/>
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        <balance>480000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>North Texas Municipal Water District Water System</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Philadelphia PA Water &amp; Wastewater Revenue</name>
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          <isin value="US7178933B53"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>School District of Broward County</name>
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        <name>State of Maine</name>
        <lei>N/A</lei>
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          <isin value="US56052AZK59"/>
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        <balance>285000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority, Series 2016A</title>
        <cusip>45505MES1</cusip>
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          <isin value="US45505MES17"/>
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        <balance>525000.00000000</balance>
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        <valUSD>539374.87000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside County Transportation Commission Sales Tax</name>
        <lei>N/A</lei>
        <title>Riverside County Transportation Commission Sales Tax, Series 2017A</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Raleigh</name>
        <lei>549300I7RPBIIRI16112</lei>
        <title>City of Raleigh, Series 2016A</title>
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          <isin value="US751091SM28"/>
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        <balance>370000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>New York State Environmental Facilities Corp.</name>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
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        <name>Massachusetts Water Resources Authority</name>
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        <name>State of Illinois</name>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System</name>
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      <invstOrSec>
        <name>Newport Mesa Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Francisco City &amp; County Public Utilities Commission Wastewater</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Metropolitan Water District of Salt Lake &amp; Sandy</name>
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        <invCountry>US</invCountry>
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        <name>Pennsylvania Turnpike Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Las Vegas Valley Water District</name>
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        <name>County of Union</name>
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        <name>State of Alabama</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Florida Department of Transportation Turnpike System</name>
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        <name>County of Jefferson</name>
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        <name>City of Phoenix</name>
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        <name>City of Kansas City</name>
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        <name>City of Phoenix Civic Improvement Corp.</name>
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        <name>Georgia Ports Authority</name>
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        <name>Metropolitan Water District of Southern California</name>
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        <name>State of Hawaii</name>
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        <name>New York State Dormitory Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Michigan State Building Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pierce County School District No. 320 Sumner</name>
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        <name>County of King</name>
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        <name>State of Ohio</name>
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        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
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        <name>Los Angeles Department of Water &amp; Power Water System</name>
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        <name>Alabama Public School and College Authority</name>
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        <name>State of Connecticut</name>
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        <name>Commonwealth of Massachusetts Federal Highway Grant Anticipation Note</name>
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        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
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        <name>State of Maryland</name>
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        <name>Metropolitan Atlanta Rapid Transit Authority</name>
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        <name>Ohio Water Development Authority</name>
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        <name>Metropolitan Transportation Authority</name>
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        <name>Orlando Utilities Commission</name>
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        <name>Las Vegas Valley Water District</name>
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        <name>Oklahoma Water Resources Board</name>
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        <name>North East Independent School District</name>
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        <name>Port of Seattle</name>
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        <name>City of Knoxville</name>
        <lei>N/A</lei>
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        <name>Forsyth County School District</name>
        <lei>N/A</lei>
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        <name>School Board of Miami-Dade County (The)</name>
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        <name>Maricopa County High School District No. 214 Tolleson Union High School</name>
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        <name>Commonwealth of Massachusetts</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Northside Independent School District</name>
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        <name>Regional Transportation District</name>
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        <name>Salem-Keizer School District No. 24J</name>
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        <name>County of Forsyth</name>
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        <name>Massachusetts Water Resources Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Multnomah County School District No. 1 Portland</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alabama Highway Finance Corp.</name>
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          <isin value="US010573AF09"/>
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        <balance>200000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>91 Express Lanes Toll Road</name>
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        <title>91 Express Lanes Toll Road, Series 2023</title>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Clark Department of Aviation</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Economic Development Authority</name>
        <lei>5493006JS6QWDVU4R678</lei>
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        <name>Commonwealth of Massachusetts</name>
        <lei>5493001N1YCXNI1O7K10</lei>
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        <name>Arlington County Industrial Development Authority</name>
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        <name>State of California</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Plano Independent School District</name>
        <lei>N/A</lei>
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        <valUSD>365421.02000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>California State University</name>
        <lei>N/A</lei>
        <title>California State University, Series 2016A</title>
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          <isin value="US13077C3Z55"/>
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        <curCd>USD</curCd>
        <valUSD>214540.70000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Texas A&amp;M University</name>
        <lei>N/A</lei>
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          <isin value="US88213AGU34"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Unified School District</name>
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          <isin value="US544647CW89"/>
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        <curCd>USD</curCd>
        <valUSD>133148.96000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Community College District</name>
        <lei>N/A</lei>
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          <isin value="US54438CB431"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>513203.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Baltimore</name>
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          <isin value="US059231L328"/>
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        <balance>215000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>219790.26000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Southern California Public Power Authority</name>
        <lei>5493003B5TD5FWUKMD34</lei>
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          <isin value="US842477TZ49"/>
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        <balance>720000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>720774.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Wisconsin</name>
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          <isin value="US977100EV49"/>
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        <curCd>USD</curCd>
        <valUSD>249708.63000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Franklin</name>
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        <balance>230000.00000000</balance>
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        <valUSD>235016.69000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Barbers Hill Independent School District</name>
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        <title>Barbers Hill Independent School District, Series 2024</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
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        <name>Empire State Development Corp.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Hawaii State Highway Fund</name>
        <lei>N/A</lei>
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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>Georgia State Road &amp; Tollway Authority</name>
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          <isin value="US373376DF64"/>
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        <name>State of Ohio</name>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-05-01</maturityDt>
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        <name>City of Carrollton</name>
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        <valUSD>199881.84000000</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>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>New York City Municipal Water Finance Authority</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
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          <isin value="US64972GTZ71"/>
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        <curCd>USD</curCd>
        <valUSD>168965.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</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>City of New York</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>City of New York, Series 2022B-1</title>
        <cusip>64966QYJ3</cusip>
        <identifiers>
          <isin value="US64966QYJ39"/>
          <other otherDesc="Inhouse Asset ID" value="64966QYJ3"/>
        </identifiers>
        <balance>640000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>655806.72000000</valUSD>
        <pctVal>0.128840125846</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</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>
    </invstOrSecs>
    <explntrNotes>




      <explntrNote note="Monthly returns presented in B.5.a have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>

    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>iShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort</ncom:signature>
      <ncom:signerName>Chuck Pulsfort</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
