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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      </invstOrSec>
      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
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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>Alameda Corridor Transportation Authority</name>
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      <invstOrSec>
        <name>Alameda Corridor Transportation Authority</name>
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      <invstOrSec>
        <name>Alameda Corridor Transportation Authority</name>
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          <isin value="US010869JN60"/>
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        <valUSD>399904.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alameda Corridor Transportation Authority</name>
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          <isin value="US010869JP19"/>
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        <balance>665000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alameda Corridor Transportation Authority</name>
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          <isin value="US010869JQ91"/>
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        <balance>2195000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alameda Corridor Transportation Authority</name>
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          <isin value="US010869JR74"/>
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        <name>Alameda Corridor Transportation Authority</name>
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          <isin value="US010869JS57"/>
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      <invstOrSec>
        <name>Alameda Corridor Transportation Authority</name>
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          <isin value="US010869MG72"/>
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        <name>Alameda Corridor Transportation Authority</name>
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        <name>Alameda County Transportation Commission</name>
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          <isin value="US011118CB01"/>
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        <name>Alhambra Unified School District</name>
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          <isin value="US016066BF82"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
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      <invstOrSec>
        <name>Allan Hancock Joint Community College District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alvord Unified School District</name>
        <lei>549300Q9J0UCO75DL276</lei>
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          <isin value="US022555UM60"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-01</maturityDt>
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      <invstOrSec>
        <name>Anaheim Housing &amp; Public Improvements Authority</name>
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          <isin value="US032556CQ33"/>
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        <name>Bay Area Toll Authority</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>Bay Area Toll Authority</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>2054-04-01</maturityDt>
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      <invstOrSec>
        <name>Bay Area Toll Authority</name>
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          <isin value="US072024WH14"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bay Area Toll Authority</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bay Area Toll Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bay Area Toll Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bay Area Toll Authority</name>
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        <name>Bay Area Toll Authority</name>
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        <name>Belmont-Redwood Shores School District</name>
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      <invstOrSec>
        <name>Benicia Unified School District</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Benicia Unified School District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Beverly Hills Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Beverly Hills Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Beverly Hills Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BlackRock Liquidity Funds</name>
        <lei>549300RWBJ885673DL84</lei>
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          <isin value="US09248U8412"/>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Burbank Unified School District</name>
        <lei>54930068ZHOQ5PICU256</lei>
        <title>Burbank Unified School District, Series 2025</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Burbank Unified School District</name>
        <lei>54930068ZHOQ5PICU256</lei>
        <title>Burbank Unified School District, Series 2025</title>
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          <isin value="US12082SEU42"/>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
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          <isin value="US1301783W46"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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          <isin value="US130178JD98"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Educational Facilities Authority</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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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Educational Facilities Authority</name>
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        <name>California Educational Facilities Authority</name>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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        <name>California Educational Facilities Authority</name>
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        <name>California Educational Facilities Authority</name>
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        <name>California Educational Facilities Authority</name>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>California Educational Facilities Authority, Series 2025A</title>
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          <isin value="US130179XP46"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2104376.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>California Educational Facilities Authority, Series 2025A</title>
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          <isin value="US130179YD07"/>
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        <name>State of California</name>
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        <name>State of California</name>
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        <name>California State Public Works Board</name>
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        <name>California State Public Works Board</name>
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      <invstOrSec>
        <name>California State Public Works Board</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <name>Coast Community College District</name>
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        <name>Coast Community College District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <lei>N/A</lei>
        <title>Desert Community College District, Series 2024</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Desert Community College District</name>
        <lei>N/A</lei>
        <title>Desert Community College District, Series 2026</title>
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          <isin value="US250375NS76"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2238265.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Desert Sands Unified School District</name>
        <lei>N/A</lei>
        <title>Desert Sands Unified School District, Series 2019</title>
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          <isin value="US250433TT61"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Desert Sands Unified School District</name>
        <lei>N/A</lei>
        <title>Desert Sands Unified School District, Series 2025</title>
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          <isin value="US250433WR68"/>
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        <curCd>USD</curCd>
        <valUSD>2939542.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Desert Sands Unified School District</name>
        <lei>N/A</lei>
        <title>Desert Sands Unified School District, Series 2025</title>
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          <isin value="US250433WU97"/>
          <other otherDesc="Inhouse Asset ID" value="250433WU9"/>
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        <curCd>USD</curCd>
        <valUSD>1043604.10000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</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>Desert Sands Unified School District</name>
        <lei>N/A</lei>
        <title>Desert Sands Unified School District, Series 2025</title>
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          <isin value="US250433WV70"/>
          <other otherDesc="Inhouse Asset ID" value="250433WV7"/>
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        <balance>2600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2799371.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</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>Dublin Unified School District</name>
        <lei>N/A</lei>
        <title>Dublin Unified School District, Series B</title>
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        <identifiers>
          <isin value="US26362VTG31"/>
          <other otherDesc="Inhouse Asset ID" value="26362VTG3"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2001599.80000000</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>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>East Bay Municipal Utility District Wastewater System</name>
        <lei>N/A</lei>
        <title>East Bay Municipal Utility District Wastewater System, Series 2025A</title>
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          <isin value="US271012HN90"/>
          <other otherDesc="Inhouse Asset ID" value="271012HN9"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1082904.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>East Bay Municipal Utility District Wastewater System</name>
        <lei>N/A</lei>
        <title>East Bay Municipal Utility District Wastewater System, Series 2025B</title>
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          <isin value="US271012HZ21"/>
          <other otherDesc="Inhouse Asset ID" value="271012HZ2"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1243584.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Wastewater System</name>
        <lei>N/A</lei>
        <title>East Bay Municipal Utility District Wastewater System, Series 2025B</title>
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          <isin value="US271012JA51"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1230245.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System</name>
        <lei>N/A</lei>
        <title>East Bay Municipal Utility District Water System, Series 2017A</title>
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          <isin value="US271014D418"/>
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        <balance>5460000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-06-01</maturityDt>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System</name>
        <lei>N/A</lei>
        <title>East Bay Municipal Utility District Water System, Series 2017A</title>
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          <isin value="US271014D582"/>
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        <balance>2000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-06-01</maturityDt>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System</name>
        <lei>N/A</lei>
        <title>East Bay Municipal Utility District Water System, Series 2017A</title>
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          <isin value="US271014D665"/>
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        <balance>1000000.00000000</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>2045-06-01</maturityDt>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System</name>
        <lei>N/A</lei>
        <title>East Bay Municipal Utility District Water System, Series 2017B</title>
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          <isin value="US271014E655"/>
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        <balance>2200000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System</name>
        <lei>N/A</lei>
        <title>East Bay Municipal Utility District Water System, Series 2017B</title>
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          <isin value="US271014E994"/>
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        <balance>1560000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System</name>
        <lei>N/A</lei>
        <title>East Bay Municipal Utility District Water System, Series 2017B</title>
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          <isin value="US271014F231"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1036772.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System</name>
        <lei>N/A</lei>
        <title>East Bay Municipal Utility District Water System, Series 2017B</title>
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        <identifiers>
          <isin value="US271014F314"/>
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        <balance>430000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>445457.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System</name>
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        <fairValLevel>2</fairValLevel>
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        <name>East Bay Municipal Utility District Water System</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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          <isin value="US271014V824"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>East County Advanced Water Purification Joint Powers Authority</name>
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          <isin value="US271843AB05"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US271843AC87"/>
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        <fairValLevel>2</fairValLevel>
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        <name>East Side Union High School District</name>
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        <name>East Side Union High School District</name>
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        <name>East Side Union High School District</name>
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        <name>East Side Union High School District</name>
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          <maturityDt>2027-08-01</maturityDt>
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      <invstOrSec>
        <name>Eastern Municipal Water District</name>
        <lei>549300ZCFVRFDIRWK089</lei>
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          <isin value="US27627TBV35"/>
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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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      </invstOrSec>
      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hillsborough City School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Imperial Community College District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Imperial Irrigation District Electric System</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Imperial Irrigation District Electric System</name>
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          <isin value="US452650LR36"/>
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      <invstOrSec>
        <name>Imperial Irrigation District Electric System</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Inglewood Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Inglewood Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Inglewood Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Inglewood Unified School District</name>
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        <name>Inglewood Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Irvine Ranch Water District</name>
        <lei>2ZRS7W19IBMY48SFBI68</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Irvine Ranch Water District</name>
        <lei>2ZRS7W19IBMY48SFBI68</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Irvine Ranch Water District</name>
        <lei>2ZRS7W19IBMY48SFBI68</lei>
        <title>Irvine Ranch Water District, Series 2016</title>
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        <balance>4305000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>City of Los Angeles Wastewater System</name>
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      <invstOrSec>
        <name>City of Los Angeles Wastewater System</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Los Angeles CA Wastewater System Revenue</name>
        <lei>N/A</lei>
        <title>City of Los Angeles Wastewater System, Series 2025A</title>
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          <isin value="US53945CND82"/>
          <other otherDesc="Inhouse Asset ID" value="53945CND8"/>
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        <balance>2900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3619879.76000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Los Angeles Wastewater System</name>
        <lei>N/A</lei>
        <title>City of Los Angeles Wastewater System, Series 2025A</title>
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          <isin value="US53945CNG14"/>
          <other otherDesc="Inhouse Asset ID" value="53945CNG1"/>
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        <balance>3160000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3829965.82000000</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>2038-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Lodi Unified School District</name>
        <lei>N/A</lei>
        <title>Lodi Unified School District, Series 2020</title>
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        <identifiers>
          <isin value="US540261LY89"/>
          <other otherDesc="Inhouse Asset ID" value="540261LY8"/>
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        <balance>5465000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4741018.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Long Beach Community College District</name>
        <lei>N/A</lei>
        <title>Long Beach Community College District, Series 2012B</title>
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        <identifiers>
          <isin value="US542411GJ64"/>
          <other otherDesc="Inhouse Asset ID" value="542411GJ6"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>178099.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001080</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Long Beach Community College District</name>
        <lei>N/A</lei>
        <title>Long Beach Community College District, Series 2019C</title>
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        <identifiers>
          <isin value="US542411NC39"/>
          <other otherDesc="Inhouse Asset ID" value="542411NC3"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>400143.36000000</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>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Long Beach Community College District</name>
        <lei>N/A</lei>
        <title>Long Beach Community College District, Series 2019C</title>
        <cusip>542411ND1</cusip>
        <identifiers>
          <isin value="US542411ND12"/>
          <other otherDesc="Inhouse Asset ID" value="542411ND1"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>288296.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Long Beach Community College District</name>
        <lei>N/A</lei>
        <title>Long Beach Community College District, Series 2025E</title>
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        <identifiers>
          <isin value="US542411QY22"/>
          <other otherDesc="Inhouse Asset ID" value="542411QY2"/>
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        <balance>535000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>571644.34000000</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>2052-08-01</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Long Beach</name>
        <lei>N/A</lei>
        <title>City of Long Beach, Series 2019A</title>
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          <isin value="US542424VW30"/>
          <other otherDesc="Inhouse Asset ID" value="542424VW3"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2102461.80000000</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>2044-05-15</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>City of Long Beach</name>
        <lei>N/A</lei>
        <title>City of Long Beach, Series 2025A</title>
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        <identifiers>
          <isin value="US542424WJ10"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2514330.00000000</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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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Long Beach</name>
        <lei>N/A</lei>
        <title>City of Long Beach, Series 2025</title>
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          <isin value="US542426DR94"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1250401.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Long Beach</name>
        <lei>N/A</lei>
        <title>City of Long Beach, Series 2025</title>
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          <isin value="US542426DS77"/>
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        <balance>1000000.00000000</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>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>Long Beach Unified School District, Series D-1</title>
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          <isin value="US542433QH35"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US542433QM20"/>
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        <balance>5290000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3266354.41000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>Long Beach Unified School District, Series D-1</title>
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          <isin value="US542433QP50"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>112882.98000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>Long Beach Unified School District, Series 2016</title>
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          <isin value="US542433RE94"/>
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        <balance>2620000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2636224.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>Long Beach Unified School District, Series F</title>
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          <isin value="US542433WB90"/>
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        <balance>1605000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1282733.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>Long Beach Unified School District, Series B</title>
        <cusip>542433WW3</cusip>
        <identifiers>
          <isin value="US542433WW38"/>
          <other otherDesc="Inhouse Asset ID" value="542433WW3"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500570.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>Long Beach Unified School District, Series B</title>
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          <isin value="US542433WZ68"/>
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        <balance>5815000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4605973.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>Long Beach Unified School District, Series B</title>
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          <isin value="US542433XB81"/>
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        <balance>7320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5646964.22000000</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>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>Long Beach Unified School District, Series G</title>
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          <isin value="US542433YA99"/>
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        <balance>1015000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1115343.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>Long Beach Unified School District, Series C</title>
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          <isin value="US542433YW10"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3474093.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>Long Beach Unified School District, Series C</title>
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          <isin value="US542433YX92"/>
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        <balance>2910000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2874990.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Los Angeles</name>
        <lei>549300E7TO710PTXPJ65</lei>
        <title>City of Los Angeles</title>
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          <isin value="US544351SF70"/>
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        <balance>9090000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9168980.28000000</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>2026-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles Community College District</name>
        <lei>N/A</lei>
        <title>Los Angeles Community College District, Series D</title>
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          <isin value="US54438CB506"/>
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        <balance>10425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10903481.44000000</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>2027-08-01</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>Los Angeles Community College District</name>
        <lei>N/A</lei>
        <title>Los Angeles Community College District, Series D</title>
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          <isin value="US54438CB688"/>
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        <balance>3625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3913173.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</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>Los Angeles Community College District</name>
        <lei>N/A</lei>
        <title>Los Angeles Community College District, Series D</title>
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          <isin value="US54438CB761"/>
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        <balance>2085000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2317334.89000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</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>Los Angeles Community College District</name>
        <lei>N/A</lei>
        <title>Los Angeles Community College District, Series E</title>
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          <isin value="US54438CF234"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5557158.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Los Angeles Community College District</name>
        <lei>N/A</lei>
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          <isin value="US54438CF317"/>
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        <curCd>USD</curCd>
        <valUSD>5710632.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Community College District</name>
        <lei>N/A</lei>
        <title>Los Angeles Community College District, Series F</title>
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          <isin value="US54438CF648"/>
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        <curCd>USD</curCd>
        <valUSD>2145961.52000000</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>
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      <invstOrSec>
        <name>Los Angeles Community College District</name>
        <lei>N/A</lei>
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          <isin value="US54438CF721"/>
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        <curCd>USD</curCd>
        <valUSD>470653.88000000</valUSD>
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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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      <invstOrSec>
        <name>Los Angeles Community College District</name>
        <lei>N/A</lei>
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          <isin value="US54438CG307"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</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="US54438CVH23"/>
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        <curCd>USD</curCd>
        <valUSD>1326154.09000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Los Angeles Community College District</name>
        <lei>N/A</lei>
        <title>Los Angeles Community College District, Series 2016</title>
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          <isin value="US54438CWP30"/>
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        <balance>1915000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1920426.54000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles Community College District</name>
        <lei>N/A</lei>
        <title>Los Angeles Community College District, Series K</title>
        <cusip>54438CXY3</cusip>
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          <isin value="US54438CXY38"/>
          <other otherDesc="Inhouse Asset ID" value="54438CXY3"/>
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        <balance>2435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2443588.73000000</valUSD>
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        <name>Los Angeles Unified School District</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>Los Angeles County Facilities, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles County Facilities, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles County Facilities 2, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Gatos Union School District</name>
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        <name>Mendocino-Lake Community College District</name>
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        <name>Menlo Park City School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Menlo Park City School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Mount San Antonio Community College District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-01</maturityDt>
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      <invstOrSec>
        <name>Mount San Antonio Community College District</name>
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        <title>Mt. San Antonio Community College District, Series 2024D</title>
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          <isin value="US623040PY20"/>
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      <invstOrSec>
        <name>Mount San Antonio Community College District</name>
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          <isin value="US623040PZ94"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mt. San Antonio Community College District</name>
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        <title>Mt. San Antonio Community College District, Series 2025A</title>
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          <isin value="US623040QF22"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>577668.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mountain View-Whisman School District</name>
        <lei>N/A</lei>
        <title>Mountain View-Whisman School District, Series B</title>
        <cusip>62451FHX1</cusip>
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          <isin value="US62451FHX15"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>252646.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Haven Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US645002M603"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Newport Mesa Unified School District</name>
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        <title>Newport Mesa Unified School District, Series 2007</title>
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        <balance>1135000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Newport Mesa Unified School District</name>
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        <title>Newport Mesa Unified School District, Series 2011</title>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3429538.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Newport Mesa Unified School District</name>
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        <title>Newport Mesa Unified School District, Series 2011</title>
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        <balance>3715000.00000000</balance>
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        <valUSD>2986158.24000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-01</maturityDt>
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      <invstOrSec>
        <name>Newport Mesa Unified School District</name>
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        <title>Newport Mesa Unified School District, Series 2011</title>
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        <balance>2000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-01</maturityDt>
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      <invstOrSec>
        <name>Newport Mesa Unified School District</name>
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        <title>Newport Mesa Unified School District, Series 2011</title>
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          <isin value="US652113WN74"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
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        <name>Newport Mesa Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
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        <name>Newport Mesa Unified School District</name>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
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      <invstOrSec>
        <name>North Orange County Community College District</name>
        <lei>N/A</lei>
        <title>North Orange County Community College District, Series 2003B</title>
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          <isin value="US661334CK67"/>
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        <balance>3000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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        <name>North Orange County Community College District</name>
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          <isin value="US661334FT40"/>
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        <balance>6500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Orange County Community College District</name>
        <lei>N/A</lei>
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          <isin value="US661334GM87"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
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      <invstOrSec>
        <name>Northern California Transmission Agency</name>
        <lei>549300Q5SNIPZIW57C52</lei>
        <title>Northern California Transmission Agency, Series 2016A</title>
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          <isin value="US664848BX58"/>
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        <balance>3150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3162101.67000000</valUSD>
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        <name>Oxnard Union High School District</name>
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        <name>Oxnard Union High School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oxnard Union High School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oxnard Union High School District</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-01</maturityDt>
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      <invstOrSec>
        <name>Pajaro Valley Unified School District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Palo Alto Unified School District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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      <invstOrSec>
        <name>Palo Alto Unified School District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Palomar Community College District</name>
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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>Pasadena Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pasadena Unified School District</name>
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        <name>Pasadena Unified School District</name>
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        <name>Pasadena Unified School District</name>
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      <invstOrSec>
        <name>Pasadena Unified School District</name>
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      <invstOrSec>
        <name>Pasadena Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US702282SC97"/>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Peninsula Corridor Joint Powers Board Measure RR Sales Tax</name>
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        <balance>2025000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rancho Cucamonga Redevelopment Agency Successor Agency</name>
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        <valUSD>1133576.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Rancho Santiago Community College District</name>
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          <isin value="US752147FK92"/>
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        <balance>4000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Redding Joint Powers Financing Authority</name>
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          <isin value="US75728LCC81"/>
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        <balance>1000000.00000000</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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      <invstOrSec>
        <name>Redondo Beach Unified School District</name>
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        <name>Redwoods Community College District</name>
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      <invstOrSec>
        <name>Rio Hondo Community College District</name>
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        <name>Riverside Community College District</name>
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        <name>Riverside Community College District</name>
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      <invstOrSec>
        <name>Riverside Community College District</name>
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        <name>Sacramento Municipal Utility District</name>
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      </invstOrSec>
      <invstOrSec>
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      <invstOrSec>
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        <name>San Diego Public Facilities Financing Authority</name>
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        <name>San Diego Public Facilities Financing Authority</name>
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      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
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      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
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          <isin value="US79730CME11"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US79730CMF85"/>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series SR-1</title>
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          <isin value="US7973554M37"/>
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        <valUSD>502935.85000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
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        <balance>220000.00000000</balance>
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        <valUSD>221211.72000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
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        <title>San Diego Unified School District, Series 2016R-5</title>
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          <isin value="US7973554T89"/>
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        <balance>5760000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
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          <isin value="US797355M841"/>
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        <balance>1930000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2010C</title>
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          <isin value="US797355M924"/>
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        <balance>4350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2800586.99000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>None</couponKind>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2010C</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2010C</title>
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          <isin value="US797355N757"/>
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        <balance>2780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1274125.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2010C</title>
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          <isin value="US797355N914"/>
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        <balance>1860000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>800263.33000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2010C</title>
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          <isin value="US797355P240"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>445203.44000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2010C</title>
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          <isin value="US797355P323"/>
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        <balance>780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>778355.06000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001080</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2010C</title>
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          <isin value="US797355P406"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1084764.01000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001080</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series R-1</title>
        <cusip>797355Q31</cusip>
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          <isin value="US797355Q313"/>
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        <balance>1820000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1606046.99000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</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>
      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series R-2</title>
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          <isin value="US797355Q495"/>
          <other otherDesc="Inhouse Asset ID" value="797355Q49"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>902914.16000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001080</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series R-2</title>
        <cusip>797355Q56</cusip>
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          <isin value="US797355Q560"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>496226.88000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001080</annualizedRt>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2012E</title>
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          <isin value="US797355Q644"/>
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        <balance>3440000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US797355R303"/>
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        <balance>1340000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-07-01</maturityDt>
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      <invstOrSec>
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          <isin value="US797355R550"/>
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        <balance>4000000.00000000</balance>
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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 2020M-2</title>
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          <isin value="US797356BC55"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-07-01</maturityDt>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2020D-2</title>
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          <isin value="US797356BS08"/>
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        <balance>2400000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2020D-2</title>
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          <isin value="US797356BU53"/>
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        <balance>1030000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1011417.15000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2020D-2</title>
        <cusip>797356BY7</cusip>
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          <isin value="US797356BY75"/>
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        <balance>5085000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4967367.68000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
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          <isin value="US797356JN39"/>
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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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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2024ZR-5A</title>
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          <isin value="US797356LH33"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-07-01</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2024ZR-5A</title>
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          <isin value="US797356LM28"/>
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        <balance>1200000.00000000</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>2045-07-01</maturityDt>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2025R-8A</title>
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          <isin value="US797356QB18"/>
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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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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2025SR-5B</title>
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          <isin value="US797356QQ86"/>
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        <balance>5260000.00000000</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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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US797356SK98"/>
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        <balance>700000.00000000</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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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US797356SL71"/>
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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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        <balance>2500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
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        <balance>1940000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-01</maturityDt>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
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        <balance>1500000.00000000</balance>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
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          <isin value="US797356SQ68"/>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US797356SS25"/>
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        <balance>1590000.00000000</balance>
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        <valUSD>1760605.89000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series 2025I-2</title>
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          <isin value="US797356ST08"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1137284.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
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        <name>San Diego County Regional Transportation Commission</name>
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        <name>San Diego County Regional Transportation Commission</name>
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        <name>San Francisco Bay Area Rapid Transit District</name>
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        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
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        <name>City of San Francisco</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of San Francisco</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of San Francisco</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>City of San Francisco</name>
        <lei>549300RA28ZEFOB6M782</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>City of San Francisco</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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          <couponKind>Fixed</couponKind>
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        <name>City of San Francisco</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>City of San Francisco</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of San Francisco CA Public Utilities Commission Water Revenue</name>
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          <isin value="US79771FMB03"/>
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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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        <name>City of San Francisco</name>
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          <isin value="US79771FMC85"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>San Francisco City &amp; County Public Utilities Commission Power</name>
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          <isin value="US79771KCC80"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>San Francisco Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US79771TNN36"/>
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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>2037-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>San Francisco Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US79771TQV25"/>
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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>San Francisco Unified School District</name>
        <lei>N/A</lei>
        <title>San Francisco Unified School District, Series A</title>
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          <isin value="US79771TRM17"/>
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        <balance>1855000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2039789.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City &amp; County of San Francisco</name>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of San Jose</name>
        <lei>549300QHIHSH68W22O38</lei>
        <title>City of San Jose, Series 2021A</title>
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          <isin value="US798135L640"/>
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        <balance>5035000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5399249.52000000</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>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Norman Y Mineta San Jose International Airport SJC</name>
        <lei>N/A</lei>
        <title>Norman Y Mineta San Jose International Airport SJC, Series 2017B</title>
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          <isin value="US798136WT07"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1011351.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>San Jose Financing Authority</name>
        <lei>N/A</lei>
        <title>San Jose Financing Authority, Series 2022B</title>
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          <isin value="US79816NAY31"/>
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        <balance>1115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1239917.58000000</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>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>San Jose Financing Authority</name>
        <lei>N/A</lei>
        <title>San Jose Financing Authority, Series 2022B</title>
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          <isin value="US79816NBA46"/>
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        <balance>2300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2435619.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Jose Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
        <title>San Jose Redevelopment Agency Successor Agency, Series A</title>
        <cusip>798170AP1</cusip>
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          <isin value="US798170AP12"/>
          <other otherDesc="Inhouse Asset ID" value="798170AP1"/>
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        <balance>2510000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2602265.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Jose Unified School District</name>
        <lei>N/A</lei>
        <title>San Jose Unified School District, Series C</title>
        <cusip>798186VL3</cusip>
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          <isin value="US798186VL39"/>
          <other otherDesc="Inhouse Asset ID" value="798186VL3"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1940335.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Jose Unified School District</name>
        <lei>N/A</lei>
        <title>San Jose Unified School District, Series 2002C</title>
        <cusip>798186VM1</cusip>
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          <isin value="US798186VM12"/>
          <other otherDesc="Inhouse Asset ID" value="798186VM1"/>
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        <balance>1455000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1379901.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Jose Unified School District</name>
        <lei>N/A</lei>
        <title>San Jose Unified School District, Series C</title>
        <cusip>798186VN9</cusip>
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          <isin value="US798186VN94"/>
          <other otherDesc="Inhouse Asset ID" value="798186VN9"/>
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        <balance>1060000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>982518.88000000</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>2029-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Jose Unified School District</name>
        <lei>N/A</lei>
        <title>San Jose Unified School District, Series C</title>
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        <identifiers>
          <isin value="US798186VP43"/>
          <other otherDesc="Inhouse Asset ID" value="798186VP4"/>
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        <balance>3150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2852447.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Jose Unified School District</name>
        <lei>N/A</lei>
        <title>San Jose Unified School District, Series C</title>
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        <identifiers>
          <isin value="US798186VQ26"/>
          <other otherDesc="Inhouse Asset ID" value="798186VQ2"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>354461.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Jose Evergreen Community College District</name>
        <lei>5493006H31JIFYW6Z091</lei>
        <title>San Jose Evergreen Community College District, Series B</title>
        <cusip>798189QY5</cusip>
        <identifiers>
          <isin value="US798189QY53"/>
          <other otherDesc="Inhouse Asset ID" value="798189QY5"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1206528.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
        <title>San Juan Unified School District, Series 2025</title>
        <cusip>798306B96</cusip>
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          <isin value="US798306B960"/>
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        <balance>2185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2530047.99000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
        <title>San Juan Unified School District, Series 2025</title>
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          <isin value="US798306C208"/>
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        <balance>1835000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2100832.05000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
        <title>San Juan Unified School District, Series 2019N</title>
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          <isin value="US798306VV57"/>
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        <balance>5000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
        <title>San Juan Unified School District, Series 2019</title>
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          <isin value="US798306VX14"/>
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        <balance>3250000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
        <title>San Juan Unified School District, Series 2022</title>
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          <isin value="US798306YW04"/>
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        <balance>1095000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1096388.02000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>San Leandro Unified School District</name>
        <lei>N/A</lei>
        <title>San Leandro Unified School District, Series B</title>
        <cusip>798458ZG3</cusip>
        <identifiers>
          <isin value="US798458ZG33"/>
          <other otherDesc="Inhouse Asset ID" value="798458ZG3"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1603949.70000000</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>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>San Marcos Unified School District</name>
        <lei>N/A</lei>
        <title>San Marcos Unified School District, Series A</title>
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          <isin value="US798755BS29"/>
          <other otherDesc="Inhouse Asset ID" value="798755BS2"/>
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        <balance>655000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>618825.33000000</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>2028-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>San Marcos Unified School District</name>
        <lei>N/A</lei>
        <title>San Marcos Unified School District, Series B</title>
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        <identifiers>
          <isin value="US798755DG62"/>
          <other otherDesc="Inhouse Asset ID" value="798755DG6"/>
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        <balance>565000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>370731.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Marcos Unified School District</name>
        <lei>N/A</lei>
        <title>San Marcos Unified School District, Series B</title>
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          <isin value="US798755DP61"/>
          <other otherDesc="Inhouse Asset ID" value="798755DP6"/>
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        <balance>1370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>532997.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</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>
      <invstOrSec>
        <name>San Marcos Unified School District</name>
        <lei>N/A</lei>
        <title>San Marcos Unified School District, Series 2025</title>
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          <isin value="US798755GW85"/>
          <other otherDesc="Inhouse Asset ID" value="798755GW8"/>
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        <balance>440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>512070.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Marcos Unified School District</name>
        <lei>N/A</lei>
        <title>San Marcos Unified School District, Series 2025</title>
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          <isin value="US798755HB30"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>371932.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Mateo Union High School District</name>
        <lei>N/A</lei>
        <title>San Mateo Union High School District, Series 2011A</title>
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          <isin value="US799017GT90"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>523193.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001080</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Mateo Union High School District</name>
        <lei>N/A</lei>
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          <isin value="US799017GU63"/>
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        <balance>1915000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2145279.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001080</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Mateo Union High School District</name>
        <lei>N/A</lei>
        <title>San Mateo Union High School District, Series 2011A</title>
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          <isin value="US799017HW11"/>
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        <balance>1755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1362821.21000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001080</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 A</title>
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          <isin value="US799038DM38"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1805687.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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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>5070000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5016390.83000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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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="US799038GE84"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Mateo County Community College District</name>
        <lei>N/A</lei>
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          <isin value="US799038GG33"/>
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        <balance>5020000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4284871.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>San Mateo County Community College District</name>
        <lei>N/A</lei>
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          <isin value="US799038GK45"/>
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        <balance>3380000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
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      <invstOrSec>
        <name>San Mateo County Transit District</name>
        <lei>549300U6SCSE62UXKI22</lei>
        <title>San Mateo County Transit District, Series 2025A</title>
        <cusip>799054HW4</cusip>
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          <isin value="US799054HW49"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>San Mateo Foster City School District</name>
        <lei>N/A</lei>
        <title>San Mateo Foster City School District, Series A</title>
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          <isin value="US799055LR72"/>
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        <balance>920000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1010211.06000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Mateo Foster City School District</name>
        <lei>N/A</lei>
        <title>San Mateo Foster City School District, Series A</title>
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          <isin value="US799055LS55"/>
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        <balance>2235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2551567.41000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001080</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Mateo Foster City School District</name>
        <lei>N/A</lei>
        <title>San Mateo Foster City School District, Series B</title>
        <cusip>799055UA4</cusip>
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          <isin value="US799055UA47"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9804948.00000000</valUSD>
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      <invstOrSec>
        <name>San Mateo Foster City Public Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Ysidro School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sanger Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US801260BF65"/>
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        <name>Santa Barbara Community College District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Santa Barbara Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Santa Barbara Secondary High School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
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        <name>Santa Clara Unified School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Santa Clara Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Santa Clara</name>
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        <name>Santa Clara County Financing Authority</name>
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        <name>Santa Clarita Community College District</name>
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        <name>Santa Clara Valley Water District</name>
        <lei>N/A</lei>
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        <name>Santa Clara Valley Water District Safe Clean Water</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>Santa Monica Community College District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>Santa Monica-Malibu Unified School District</name>
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        <name>Santa Monica-Malibu Unified School District</name>
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        <name>Santa Monica-Malibu Unified School District</name>
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        <name>Santa Monica-Malibu Unified School District</name>
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      <invstOrSec>
        <name>City of Santa Rosa CA Wastewater Revenue</name>
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      <invstOrSec>
        <name>City of Santa Rosa</name>
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      <invstOrSec>
        <name>Sequoia Union High School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Southern California Public Power Authority</name>
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        <name>Stockton Unified School District</name>
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      <invstOrSec>
        <name>Pittsburg Successor Agency Redevelopment Agency</name>
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        <name>University of California</name>
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        <name>University of California</name>
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        <name>Upper Santa Clara Valley Joint Powers Authority</name>
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        <name>Ventura Unified School District</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>West Contra Costa Unified School District</name>
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        <curCd>USD</curCd>
        <valUSD>2207775.80000000</valUSD>
        <pctVal>0.053214479721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
        <lei>N/A</lei>
        <title>West Contra Costa Unified School District, Series 2025A</title>
        <cusip>95234ACF0</cusip>
        <identifiers>
          <isin value="US95234ACF03"/>
          <other otherDesc="Inhouse Asset ID" value="95234ACF0"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2255588.20000000</valUSD>
        <pctVal>0.054366911951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>West Valley-Mission Community College District</name>
        <lei>N/A</lei>
        <title>West Valley-Mission Community College District, Series 2015B</title>
        <cusip>95640HEX2</cusip>
        <identifiers>
          <isin value="US95640HEX26"/>
          <other otherDesc="Inhouse Asset ID" value="95640HEX2"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249991.15000000</valUSD>
        <pctVal>0.006025588731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Westminster School District</name>
        <lei>N/A</lei>
        <title>Westminster School District, Series 2013A</title>
        <cusip>960621CC2</cusip>
        <identifiers>
          <isin value="US960621CC24"/>
          <other otherDesc="Inhouse Asset ID" value="960621CC2"/>
        </identifiers>
        <balance>6380000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4612344.44000000</valUSD>
        <pctVal>0.111172298232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001080</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>William S Hart Union High School District</name>
        <lei>N/A</lei>
        <title>William S Hart Union High School District, Series B</title>
        <cusip>969268AW1</cusip>
        <identifiers>
          <isin value="US969268AW13"/>
          <other otherDesc="Inhouse Asset ID" value="969268AW1"/>
        </identifiers>
        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>990683.00000000</valUSD>
        <pctVal>0.023878638588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>William S Hart Union High School District</name>
        <lei>N/A</lei>
        <title>William S Hart Union High School District, Series 2005B</title>
        <cusip>969275PS9</cusip>
        <identifiers>
          <isin value="US969275PS96"/>
          <other otherDesc="Inhouse Asset ID" value="969275PS9"/>
        </identifiers>
        <balance>3940000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3606405.32000000</valUSD>
        <pctVal>0.086925938207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>William S Hart Union High School District</name>
        <lei>N/A</lei>
        <title>William S Hart Union High School District, Series A</title>
        <cusip>969275QS8</cusip>
        <identifiers>
          <isin value="US969275QS87"/>
          <other otherDesc="Inhouse Asset ID" value="969275QS8"/>
        </identifiers>
        <balance>990000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>809535.77000000</valUSD>
        <pctVal>0.019512409193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yosemite Community College District</name>
        <lei>N/A</lei>
        <title>Yosemite Community College District, Series 2010D</title>
        <cusip>987388DH5</cusip>
        <identifiers>
          <isin value="US987388DH57"/>
          <other otherDesc="Inhouse Asset ID" value="987388DH5"/>
        </identifiers>
        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>611217.60000000</valUSD>
        <pctVal>0.014732305055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yosemite Community College District</name>
        <lei>N/A</lei>
        <title>Yosemite Community College District, Series 2010D</title>
        <cusip>987388DQ5</cusip>
        <identifiers>
          <isin value="US987388DQ56"/>
          <other otherDesc="Inhouse Asset ID" value="987388DQ5"/>
        </identifiers>
        <balance>3610000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2374531.29000000</valUSD>
        <pctVal>0.057233822011</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </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>2026-03-30</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>
