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      <invstOrSec>
        <name>COLONY TX ECON DEV CORP SALES</name>
        <lei>N/A</lei>
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          <isin value="US19625CAD02"/>
          <ticker value="CNYGEN"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-10-01</maturityDt>
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      <invstOrSec>
        <name>COLUMBUS OH REGL ARPT AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US199546CX83"/>
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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>COMMERCE GA SCH DIST</name>
        <lei>N/A</lei>
        <title>Commerce School District</title>
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          <isin value="US200635BF68"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DALLAS TX AREA RAPID TRANSIT S</name>
        <lei>75YWM81F2R6UQGJIEW47</lei>
        <title>Dallas Area Rapid Transit</title>
        <cusip>235241RW8</cusip>
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          <isin value="US235241RW87"/>
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        <curCd>USD</curCd>
        <valUSD>2630000.000000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FORT WORTH TX SPL TAX REVENUE</name>
        <lei>N/A</lei>
        <title>City of Fort Worth TX</title>
        <cusip>349507DT7</cusip>
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          <isin value="US349507DT78"/>
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        <curCd>USD</curCd>
        <valUSD>2222805.200000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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      <invstOrSec>
        <name>GREATER CLARK IN BLDG CORP</name>
        <lei>N/A</lei>
        <title>Greater Clark Building Corp</title>
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          <isin value="US39167GJT94"/>
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        <balance>5675000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6352575.140000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GTR ORLANDO FL AVIATION AUTH A</name>
        <lei>549300CP6PUG5S184F61</lei>
        <title>Greater Orlando Aviation Authority</title>
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          <isin value="US392275EL34"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HARRIS CNTY TX HOSP DIST CTFS</name>
        <lei>N/A</lei>
        <title>Harris County Hospital District</title>
        <cusip>41415UBW5</cusip>
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          <isin value="US41415UBW53"/>
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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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          <maturityDt>2042-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>HOPE CA ELEM SCH DIST</name>
        <lei>N/A</lei>
        <title>Hope Elementary School District</title>
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          <isin value="US439413EK78"/>
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        <balance>1085000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>621968.550000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>MAIN STREET NATURAL GAS INC GA</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
        <title>Main Street Natural Gas Inc</title>
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        <balance>6000000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6461272.800000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>MIAMI-DADE CNTY FL SPL OBLIG</name>
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        <title>County of Miami-Dade FL</title>
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        <curCd>USD</curCd>
        <valUSD>1076122.080000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MILLBRAE CA SCH DIST</name>
        <lei>N/A</lei>
        <title>Millbrae School District</title>
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        <balance>1735000.000000000000</balance>
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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>
          <annualizedRt>.000000000000</annualizedRt>
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        <name>NATIONAL FIN AUTH NH SPL REVEN</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
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        <name>INLAND EMPIRE CA TOBACCO SECUR</name>
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        <title>Inland Empire Tobacco Securitization Corp</title>
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        <fairValLevel>2</fairValLevel>
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        <name>JACKSON CNTY MO REORG SCH DIST</name>
        <lei>N/A</lei>
        <title>Jackson County School District No R-IV Blue Springs</title>
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          <isin value="US467486YQ30"/>
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        <invCountry>US</invCountry>
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        <name>JACKSON CNTY MO REORG SCH DIST</name>
        <lei>549300HKYX7HMV5CWZ34</lei>
        <title>Jackson County Reorganized School District No 7/MO</title>
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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>2043-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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        <name>JOHNSON &amp; MIAMI CNTYS KS UNIF</name>
        <lei>N/A</lei>
        <title>Johnson &amp; Miami Counties Unified School District No 230 Spring Hills</title>
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          <isin value="US478164KY16"/>
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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>NEW YORK CITY NY TRANSITIONAL</name>
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        <name>PLACENTIA-YORBA LINDA CA UNIF</name>
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          <couponKind>Fixed</couponKind>
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        <name>PLATTE CNTY MO REORG SCH DIST#</name>
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        <title>Platte County R-III School District</title>
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        <name>SAN BERNARDINO CA CMNTY CLG DI</name>
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        <name>SAN DIEGO CA UNIF SCH DIST</name>
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        <name>S ISLAND SC PUBLIC SVC DIST WT</name>
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        <name>TIPPECANOE CNTY IN SCH BLDG CO</name>
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        <name>TIPPECANOE CNTY IN SCH BLDG CO</name>
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        <name>UNIV OF NORTH CAROLINA AT CHAP</name>
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        <name>OCEANSIDE CA UNIF SCH DIST</name>
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        <name>WILDFLOWER IMPROV ASSN</name>
        <lei>N/A</lei>
        <title>Wildflower Improvement Association</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-03-01</maturityDt>
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        <name>PHOENIX AZ INDL DEV AUTH EDU R</name>
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        <name>PITTSBURG CALIF UNI SCH DIST</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
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        <name>PLATTE CNTY MO REORG SCH DIST#</name>
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        <title>Platte County R-III School District</title>
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          <isin value="US727717LF51"/>
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        <curCd>USD</curCd>
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        <name>PORT BEAUMONT TX NAV DIST DOCK</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>POTTSBORO TX HGR EDU FIN CORP</name>
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        <title>Pottsboro Higher Education Finance Corp</title>
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          <isin value="US738222BH07"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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        <name>POWAY CA UNIF SCH DIST</name>
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        <title>Poway Unified School District</title>
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          <isin value="US738850RF59"/>
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        <balance>4955000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2895473.080000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
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        <name>POWAY CA UNIF SCH DIST</name>
        <lei>N/A</lei>
        <title>Poway Unified School District</title>
        <cusip>738850RH1</cusip>
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          <isin value="US738850RH16"/>
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        <curCd>USD</curCd>
        <valUSD>4864417.330000000000</valUSD>
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          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
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        <name>ROWLAND CA UNIF SCH DIST</name>
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        <title>Rowland Unified School District</title>
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          <isin value="US779631ER76"/>
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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>.000000000000</annualizedRt>
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        <name>SAN DIEGO CA CMNTY CLG DIST</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
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        <name>SAN DIEGO CA UNIF SCH DIST</name>
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          <couponKind>Fixed</couponKind>
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        <name>SAN DIEGO CA UNIF SCH DIST</name>
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          <isin value="US797355Q560"/>
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        <name>SANTA BARBARA CA SECONDARY HIG</name>
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          <annualizedRt>.000000000000</annualizedRt>
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        <name>ADAMS &amp; ARAPAHOE CNTYS CO JT S</name>
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        <name>ALABAMA FEDERAL AID HIGHWAY FI</name>
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        <name>ALDINE TX INDEP SCH DIST</name>
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        <title>Aldine Independent School District</title>
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        <name>AUSTIN TX INDEP SCH DIST</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2044-08-01</maturityDt>
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        <name>CALIFORNIA HSG FIN AGY MUNI CT</name>
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        <name>DENVER CITY &amp; CNTY CO SCH DIST</name>
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        <name>FORT WORTH TX SPL TAX REVENUE</name>
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        <name>FOWLER CA UNIF SCH DIST</name>
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        <name>FRETE 2020-ML07 TRUST</name>
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        <title>Freddie Mac Multifamily ML Certificates</title>
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          <isin value="US35833FAC95"/>
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        <curCd>USD</curCd>
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        <name>FRETE 2021-ML10 TRUST</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily ML Certificates</title>
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          <isin value="US35833JAE73"/>
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        <curCd>USD</curCd>
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        <name>GREATER CLARK IN BLDG CORP</name>
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          <maturityDt>2038-07-15</maturityDt>
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        <name>GREENE CNTY MO REORG SCH DIST#</name>
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        <title>Republic School District No R-3</title>
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        <name>HAMILTON CNTY OH HOSP FACS REV</name>
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        <name>HOPE CA ELEM SCH DIST</name>
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        <title>Hope Elementary School District</title>
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          <annualizedRt>.000000000000</annualizedRt>
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        <name>INDIANAPOLIS IN LOCAL PUBLIC I</name>
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        <title>Indianapolis Local Public Improvement Bond Bank</title>
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        <name>LEE CNTY FL INDL DEV AUTH HLTH</name>
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        <name>LINDBERGH MO SCH DIST</name>
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        <title>Lindbergh School District</title>
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        <name>MARYLAND ST STADIUM AUTH REVEN</name>
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        <title>Maryland Stadium Authority</title>
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        <name>MET WASHINGTON DC ARPTS AUTH A</name>
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        <title>Metropolitan Washington Airports Authority Aviation Revenue</title>
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        <name>MIAMI-DADE CNTY FL SPL OBLIG</name>
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        <title>County of Miami-Dade FL</title>
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        <invCountry>US</invCountry>
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        <name>NATIONAL FIN AUTH NH MUNI CTFS</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.675000000000</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>National Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63607WAP9</cusip>
        <identifiers>
          <isin value="US63607WAP95"/>
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        <balance>58387518.900000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3006373.350000000000</valUSD>
        <pctVal>0.4461184773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.812485000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL FIN AUTH NH SPL REVEN</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63608TAA8</cusip>
        <identifiers>
          <isin value="US63608TAA88"/>
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        <balance>1899000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1897063.970000000000</valUSD>
        <pctVal>0.2815070489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875000000000</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>NATIONAL FIN AUTH NH SPL REVEN</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63608TAR1</cusip>
        <identifiers>
          <isin value="US63608TAR14"/>
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        <balance>1600000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1598568.160000000000</valUSD>
        <pctVal>0.2372129840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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>NORTH CAROLINA ST MED CARE COM</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65820YTR7</cusip>
        <identifiers>
          <isin value="US65820YTR70"/>
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        <balance>600000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>600076.500000000000</valUSD>
        <pctVal>0.0890458979</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>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N TX TOLLWAY AUTH REVENUE</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>North Texas Tollway Authority</title>
        <cusip>66285WCD6</cusip>
        <identifiers>
          <isin value="US66285WCD65"/>
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        <balance>1085000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>694752.520000000000</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>2038-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>.000000000000</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>OKLAHOMA ST TURNPIKE AUTH</name>
        <lei>549300J83EP2PBDYH615</lei>
        <title>Oklahoma Turnpike Authority</title>
        <cusip>679111F90</cusip>
        <identifiers>
          <isin value="US679111F902"/>
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        <balance>1500000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1669033.500000000000</valUSD>
        <pctVal>0.2476694000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>PLATTE CNTY MO REORG SCH DIST#</name>
        <lei>N/A</lei>
        <title>Platte County R-III School District</title>
        <cusip>727717LG3</cusip>
        <identifiers>
          <isin value="US727717LG35"/>
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        <balance>2500000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2905164.500000000000</valUSD>
        <pctVal>0.4311000040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</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>PORT BEAUMONT TX INDL DEV AUTH</name>
        <lei>N/A</lei>
        <title>Port of Beaumont Industrial Development Authority</title>
        <cusip>73358SAA1</cusip>
        <identifiers>
          <isin value="US73358SAA15"/>
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        <balance>3000000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2719165.200000000000</valUSD>
        <pctVal>0.4034993986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</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>PUBLIC FIN AUTH WI REVENUE</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
        <cusip>74442PD51</cusip>
        <identifiers>
          <isin value="US74442PD510"/>
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        <balance>587318.840000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>588441.970000000000</valUSD>
        <pctVal>0.0873194394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>PUBLIC FIN AUTH WI REVENUE</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
        <cusip>74442PL45</cusip>
        <identifiers>
          <isin value="US74442PL455"/>
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        <balance>2129000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1258920.490000000000</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>2034-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>.000000000000</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>PUBLIC FIN AUTH WI REVENUE</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
        <cusip>74442PL86</cusip>
        <identifiers>
          <isin value="US74442PL869"/>
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        <balance>2547104.470000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2520427.120000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>PUBLIC FIN AUTH WI REVENUE</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
        <cusip>74442PXM2</cusip>
        <identifiers>
          <isin value="US74442PXM21"/>
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        <balance>2000000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1951917.000000000000</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>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PUERTO RICO HIGHWAY &amp; TRANSPRT</name>
        <lei>549300J6QBXVWJXB7Y41</lei>
        <title>Puerto Rico Highway &amp; Transportation Authority</title>
        <cusip>745185BP2</cusip>
        <identifiers>
          <isin value="US745185BP23"/>
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        <balance>1395000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1394526.820000000000</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>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</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>RHODE ISLAND ST HLTH &amp; EDUCTNL</name>
        <lei>N/A</lei>
        <title>Rhode Island Health and Educational Building Corp</title>
        <cusip>762196X32</cusip>
        <identifiers>
          <isin value="US762196X326"/>
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        <balance>3335000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3631946.730000000000</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>2042-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RHODE ISLAND ST HLTH &amp; EDUCTNL</name>
        <lei>N/A</lei>
        <title>Rhode Island Health and Educational Building Corp</title>
        <cusip>762196X40</cusip>
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          <isin value="US762196X409"/>
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        <balance>4000000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4272590.000000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SAN ANTONIO TX ELEC &amp; GAS REVE</name>
        <lei>5493002G2FEH20Q4GQ04</lei>
        <title>City of San Antonio TX Electric &amp; Gas Systems Revenue</title>
        <cusip>79625GGQ0</cusip>
        <identifiers>
          <isin value="US79625GGQ01"/>
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        <balance>3030000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3279134.480000000000</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>2042-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</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>
      <invstOrSec>
        <name>SAN DIEGO CA CMNTY CLG DIST</name>
        <lei>N/A</lei>
        <title>San Diego Community College District</title>
        <cusip>797272KA8</cusip>
        <identifiers>
          <isin value="US797272KA81"/>
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        <balance>8525000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5254819.380000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>MANHATTAN BEACH CA UNIF SCH DI</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK CITY NY TRANSITIONAL</name>
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        <name>ACTON-AGUA CA UNIF SCH DIST</name>
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        <name>CALIFORNIA HSG FIN AGY MUNI CT</name>
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        <name>GTR ORLANDO FL AVIATION AUTH A</name>
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        <name>INDIANA ST FIN AUTH REVENUE</name>
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        <name>IPS MULTI-SCH BLDG CORP IN</name>
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        <name>JOBSOHIO BEVERAGE SYS STWD LIQ</name>
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        <name>KENTUCKY ST PROPERTY &amp; BLDGS C</name>
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        <name>LAKESIDE CA UNION SCH DIST SAN</name>
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        <name>LEANDER TX INDEP SCH DIST</name>
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        <name>LEE CNTY FL ARPT REVENUE</name>
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          <annualizedRt>.000000000000</annualizedRt>
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        <name>LOWER COLORADO RIVER TX AUTH T</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BAY CNTY FL SCH BRD COPS</name>
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        <name>BUILD NYC RESOURCE CORP NY REV</name>
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        <name>CHICAGO IL O'HARE INTERNATIONA</name>
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        <name>CLARK-PLEASANT IN CMNTY SCH BL</name>
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        <name>NEW JERSEY ST ECON DEV AUTH RE</name>
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        <name>WASHINGTON ST HSG FIN COMMISSI</name>
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        <name>JEFFERSON CNTY AL SWR REVENUE</name>
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        <name>AVON IN CMNTY SCH BLDG CORP</name>
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        <name>BAY CNTY FL SCH BRD COPS</name>
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        <name>COMMERCE GA SCH DIST</name>
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        <name>JACKSON CNTY MO REORG SCH DIST</name>
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        <name>KENTUCKY ST ECON DEV FIN AUTH</name>
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        <name>LA PLATA CNTY CO SCH DIST #9-R</name>
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        <name>LAKE RIDGE IN MULTI-SCH BLDG C</name>
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        <name>ALASKA ST RAILROAD CORP CRUISE</name>
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        <name>AVON IN CMNTY SCH BLDG CORP</name>
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        <name>BELMONT-REDWOOD SHORES CA SCH</name>
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        <name>CENTRL PUGET SOUND WA REGL TRA</name>
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        <name>CLAY CNTY MO SCH DIST #R-II SM</name>
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        <title>Smithville R-II School District</title>
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        <name>CONNECTICUT ST</name>
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        <name>DENVER CITY &amp; CNTY CO ARPT REV</name>
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        <name>DIST OF COLUMBIA INCOME TAX SE</name>
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        <name>FISHERS TOWN HALL BLDG CORP IN</name>
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        <name>FORT WORTH TX INDEP SCH DIST</name>
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        <name>FRETE 2021-ML10 TRUST</name>
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        <name>FRUITA CO HLTHCARE REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LOWER COLORADO RIVER TX AUTH T</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MET NASHVILLE TN ARPT AUTH ARP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ADAMS &amp; ARAPAHOE CNTYS CO JT S</name>
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        <name>ALASKA ST RAILROAD CORP CRUISE</name>
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        <name>AVON IN CMNTY SCH BLDG CORP</name>
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        <name>CALIFORNIA HSG FIN AGY MUNI CT</name>
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        <name>MIAMI-DADE CNTY FL SPL OBLIG</name>
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        <name>NOBLESVILLE IN HIGH SCH BLDG C</name>
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        <name>CALIFORNIA ST MUNI FIN AUTH RE</name>
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        <title>California Municipal Finance Authority</title>
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        <name>CASS CNTY ND JT WTR RESOURCE D</name>
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        <name>CLARK CNTY NV WTR RECLAMATION</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CLAY CNTY MO SCH DIST #R-II SM</name>
        <lei>N/A</lei>
        <title>Smithville R-II School District</title>
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          <isin value="US183513FX34"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COLONY TX LOCAL DEV CORP SALES</name>
        <lei>N/A</lei>
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          <isin value="US19625ABJ07"/>
          <ticker value="CNYGEN"/>
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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>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Freddie Mac Multifamily</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily ML Certificates</title>
        <cusip>30309HAB3</cusip>
        <identifiers>
          <isin value="US30309HAB33"/>
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        <balance>44044328.790000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>620144.150000000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.247324000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN MTGE CORP MU</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily ML Certificates</title>
        <cusip>3137H9JP5</cusip>
        <identifiers>
          <isin value="US3137H9JP59"/>
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        <balance>79574702.120000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4304195.640000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>.957900000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FORT LAUDERDALE FL WTR &amp; SWR R</name>
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        <title>City of Fort Lauderdale FL Water &amp; Sewer Revenue</title>
        <cusip>347658ZX7</cusip>
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          <isin value="US347658ZX77"/>
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        <balance>4115000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4501293.570000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PHOENIX AZ CIVIC IMPT CORP DIS</name>
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        <title>City of Phoenix Civic Improvement Corp</title>
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          <isin value="US71884WCT62"/>
          <ticker value="PHOGEN"/>
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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>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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      <invstOrSec>
        <name>PITTSBURG CALIF UNI SCH DIST</name>
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        <title>Pittsburg Unified School District Financing Authority</title>
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          <isin value="US724586AZ55"/>
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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>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>.000000000000</annualizedRt>
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        <name>SPRING TX INDEP SCH DIST</name>
        <lei>N/A</lei>
        <title>Spring Independent School District</title>
        <cusip>850001CF3</cusip>
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          <isin value="US850001CF32"/>
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        <balance>5000000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5520911.000000000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
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      <invstOrSec>
        <name>TRI-CREEK IN 2002 HIGH SCH BLD</name>
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        <title>Tri-Creek 2002 High School Building Corp</title>
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        <identifiers>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>TRIMBLE CNTY KY POLL CONTROL R</name>
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          <maturityDt>2044-09-01</maturityDt>
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        <name>WASHINGTON ST HSG FIN COMMISSI</name>
        <lei>549300YL1HU59NREG764</lei>
        <title>Washington State Housing Finance Commission</title>
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        <name>WASHINGTON ST HSG FIN COMMISSI</name>
        <lei>549300YL1HU59NREG764</lei>
        <title>Washington State Housing Finance Commission</title>
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        <name>CONYERS GA TAX ALLOCATION</name>
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        <name>DALLAS-FORT WORTH TX INTERNATI</name>
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        <name>DENVER CITY &amp; CNTY CO ARPT REV</name>
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      <invstOrSec>
        <name>FRETE 2021-ML11 TRUST</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily ML Certificates</title>
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          <isin value="US302610AD23"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <securityLending>
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      <invstOrSec>
        <name>FISHERS TOWN HALL BLDG CORP IN</name>
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        <title>Fishers Town Hall Building Corp</title>
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        <curCd>USD</curCd>
        <valUSD>2226078.400000000000</valUSD>
        <pctVal>0.3303297996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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>JOHNSON &amp; MIAMI CNTYS KS UNIF</name>
        <lei>N/A</lei>
        <title>Johnson &amp; Miami Counties Unified School District No 230 Spring Hills</title>
        <cusip>478164KZ8</cusip>
        <identifiers>
          <isin value="US478164KZ80"/>
        </identifiers>
        <balance>1600000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1855523.040000000000</valUSD>
        <pctVal>0.2753427525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</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>KENTUCKY ST PROPERTY &amp; BLDGS C</name>
        <lei>N/A</lei>
        <title>Kentucky State Property &amp; Building Commission</title>
        <cusip>49151FY79</cusip>
        <identifiers>
          <isin value="US49151FY797"/>
        </identifiers>
        <balance>2735000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3092952.420000000000</valUSD>
        <pctVal>0.4589660243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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>MASSACHUSETTS ST</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts</title>
        <cusip>57582TBT8</cusip>
        <identifiers>
          <isin value="US57582TBT88"/>
        </identifiers>
        <balance>10000000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10895982.000000000000</valUSD>
        <pctVal>1.6168646848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>NEVADA DEPT OF BUSINESS &amp; INDU</name>
        <lei>N/A</lei>
        <title>State of Nevada Department of Business &amp; Industry</title>
        <cusip>641455AB6</cusip>
        <identifiers>
          <isin value="US641455AB65"/>
        </identifiers>
        <balance>3000000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2550000.000000000000</valUSD>
        <pctVal>0.3783968206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
        <cusip>646136WT4</cusip>
        <identifiers>
          <isin value="US646136WT40"/>
        </identifiers>
        <balance>1145000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>699067.270000000000</valUSD>
        <pctVal>0.1037352284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>.000000000000</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>NORTH CAROLINA ST MED CARE COM</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65820YSZ0</cusip>
        <identifiers>
          <isin value="US65820YSZ06"/>
        </identifiers>
        <balance>250000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250092.150000000000</valUSD>
        <pctVal>0.0371114017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</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>PENNSYLVANIA ST TURNPIKE COMMI</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
        <title>Pennsylvania Turnpike Commission</title>
        <cusip>709225GG5</cusip>
        <identifiers>
          <isin value="US709225GG50"/>
        </identifiers>
        <balance>1045000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1145121.350000000000</valUSD>
        <pctVal>0.1699255992</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</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>ROCKLAND CNTY NY SOL WST MGMT</name>
        <lei>N/A</lei>
        <title>Rockland County Solid Waste Management Authority</title>
        <cusip>77356FAV6</cusip>
        <identifiers>
          <isin value="US77356FAV67"/>
        </identifiers>
        <balance>2585000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2962170.110000000000</valUSD>
        <pctVal>0.4395591183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</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>SAN DIEGO CA TOBACCO SETTLEMEN</name>
        <lei>N/A</lei>
        <title>City of San Diego Tobacco Settlement Revenue Funding Corp</title>
        <cusip>797330AP2</cusip>
        <identifiers>
          <isin value="US797330AP29"/>
          <ticker value="SDGGEN"/>
        </identifiers>
        <balance>555000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>560792.090000000000</valUSD>
        <pctVal>0.0832164486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>S ESTRN PA TRANSPRTN AUTH</name>
        <lei>98450061A2F3FD36E493</lei>
        <title>Southeastern Pennsylvania Transportation Authority</title>
        <cusip>842039FM6</cusip>
        <identifiers>
          <isin value="US842039FM66"/>
        </identifiers>
        <balance>2585000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2827460.330000000000</valUSD>
        <pctVal>0.4195694115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</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>TEMPE AZ INDL DEV AUTH REVENUE</name>
        <lei>N/A</lei>
        <title>Tempe Industrial Development Authority</title>
        <cusip>87972MCC4</cusip>
        <identifiers>
          <isin value="US87972MCC47"/>
        </identifiers>
        <balance>2000000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1990835.000000000000</valUSD>
        <pctVal>0.2954218174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>UNIV OF NORTH CAROLINA AT CHAP</name>
        <lei>N/A</lei>
        <title>University of North Carolina at Chapel Hill</title>
        <cusip>914714CY4</cusip>
        <identifiers>
          <isin value="US914714CY49"/>
        </identifiers>
        <balance>8180000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9215871.850000000000</valUSD>
        <pctVal>1.3675516107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>WILL CNTY IL SCH DIST #114 MAN</name>
        <lei>N/A</lei>
        <title>Will County School District No 114 Manhattan</title>
        <cusip>968838KA9</cusip>
        <identifiers>
          <isin value="US968838KA93"/>
        </identifiers>
        <balance>3765000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4085378.910000000000</valUSD>
        <pctVal>0.6062330943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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="The monthly total returns shown in B.5.a. do not reflect the deduction of sales loads or redemption fees.&#10;" noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-01-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Trust for Professional Managers</ncom:nameOfApplicant>
      <ncom:signature>/s/ Kelly Strauss</ncom:signature>
      <ncom:signerName>Kelly Strauss</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
