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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13048RAJ6</cusip>
        <identifiers>
          <isin value="US13048RAJ68"/>
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        <balance>3725000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3726286.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.45000000</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>CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13048RAK3</cusip>
        <identifiers>
          <isin value="US13048RAK32"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1500213.60000000</valUSD>
        <pctVal>0.124934578571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.25000000</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>CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE</name>
        <lei>N/A</lei>
        <title>California Pollution Control Financing Authority</title>
        <cusip>130536RC1</cusip>
        <identifiers>
          <isin value="US130536RC13"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000063.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.25000000</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>CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE</name>
        <lei>N/A</lei>
        <title>California Pollution Control Financing Authority</title>
        <cusip>130536RL1</cusip>
        <identifiers>
          <isin value="US130536RL12"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000063.60000000</valUSD>
        <pctVal>0.083283156752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.25000000</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>CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE</name>
        <lei>N/A</lei>
        <title>California Pollution Control Financing Authority</title>
        <cusip>130536RN7</cusip>
        <identifiers>
          <isin value="US130536RN77"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5000079.00000000</valUSD>
        <pctVal>0.416395880351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.80000000</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>CENTRL BRADFORD PROGRESS AUTHPA</name>
        <lei>N/A</lei>
        <title>Central Bradford Progress Authority</title>
        <cusip>152691BE0</cusip>
        <identifiers>
          <isin value="US152691BE06"/>
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        <balance>21355000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21355000.00000000</valUSD>
        <pctVal>1.778398706283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.90000000</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>CHANDLER AZ INDL DEV AUTH INDL DEV REVENUE</name>
        <lei>N/A</lei>
        <title>Chandler Industrial Development Authority</title>
        <cusip>158862CA8</cusip>
        <identifiers>
          <isin value="US158862CA82"/>
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        <balance>2200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2244759.88000000</valUSD>
        <pctVal>0.186938799649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHANDLER AZ INDL DEV AUTH INDL DEV REVENUE</name>
        <lei>N/A</lei>
        <title>Chandler Industrial Development Authority</title>
        <cusip>158862CB6</cusip>
        <identifiers>
          <isin value="US158862CB65"/>
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        <balance>14475000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14772454.01000000</valUSD>
        <pctVal>1.230218361040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHATTANOOGA TN HLTH EDUCTNL &amp; HSG FAC BRD REVENUE</name>
        <lei>N/A</lei>
        <title>Chattanooga Health Educational &amp; Housing Facility Board</title>
        <cusip>162410CB8</cusip>
        <identifiers>
          <isin value="US162410CB80"/>
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        <balance>21450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21450000.00000000</valUSD>
        <pctVal>1.786310103009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.45000000</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>CITIZENS MO MEMORIAL HOSP DIST POLK CNTY</name>
        <lei>N/A</lei>
        <title>Citizens Memorial Hospital District</title>
        <cusip>174762EV2</cusip>
        <identifiers>
          <isin value="US174762EV26"/>
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        <balance>9000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9040546.80000000</valUSD>
        <pctVal>0.752877393266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COLORADO ST EDUCTNL &amp; CULTURAL FACS AUTH REVENUE</name>
        <lei>549300BJRX2FHSSZP042</lei>
        <title>Colorado Educational &amp; Cultural Facilities Authority</title>
        <cusip>19645RDH1</cusip>
        <identifiers>
          <isin value="US19645RDH12"/>
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        <balance>1175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1175000.00000000</valUSD>
        <pctVal>0.097851485829</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.25000000</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>CONNECTICUT ST HSG FIN AUTH HSG MTGE FIN PROGRAM</name>
        <lei>5493003DXX0NRJKSH186</lei>
        <title>Connecticut Housing Finance Authority</title>
        <cusip>20775CW75</cusip>
        <identifiers>
          <isin value="US20775CW755"/>
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        <balance>5350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5350000.00000000</valUSD>
        <pctVal>0.445536552498</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.31000000</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>
      <invstOrSec>
        <name>CRAWFORD CNTY IA MEMORIAL HOSP REVENUE</name>
        <lei>N/A</lei>
        <title>Crawford County Memorial Hospital Inc</title>
        <cusip>224832BA2</cusip>
        <identifiers>
          <isin value="US224832BA23"/>
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        <balance>2515000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2537359.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CUMBERLAND CNTY NC INDL FACS &amp; POLL CONTROL FING AUTH SOL WS</name>
        <lei>N/A</lei>
        <title>Cumberland County Industrial Facilities &amp; Pollution Control Financing Authority</title>
        <cusip>230589AB9</cusip>
        <identifiers>
          <isin value="US230589AB90"/>
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        <balance>16040000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16053083.83000000</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>2027-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.13000000</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>DIRECTOR OF THE ST OF NEVADA DEPT OF BUSINESS &amp; INDUSTRY</name>
        <lei>N/A</lei>
        <title>State of Nevada Department of Business &amp; Industry</title>
        <cusip>25459JAF8</cusip>
        <identifiers>
          <isin value="US25459JAF84"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2502221.25000000</valUSD>
        <pctVal>0.208379631647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.45000000</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>DISTRICT OF COLUMBIA REVENUE</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia</title>
        <cusip>2548392M4</cusip>
        <identifiers>
          <isin value="US2548392M46"/>
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        <balance>13000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13000000.00000000</valUSD>
        <pctVal>1.082612183642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.29000000</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>DODGE CITY KS INDL REVENUE</name>
        <lei>N/A</lei>
        <title>City of Dodge City KS</title>
        <cusip>256335GL8</cusip>
        <identifiers>
          <isin value="US256335GL86"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000000.00000000</valUSD>
        <pctVal>0.083277860280</pctVal>
        <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>Floating</couponKind>
          <annualizedRt>2.66000000</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>ELMIRA CITY NY</name>
        <lei>5493006ZFXLMU5H8ZE65</lei>
        <title>City of Elmira City NY</title>
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      <invstOrSec>
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        <name>GLEN COVE NY</name>
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          <maturityDt>2026-06-04</maturityDt>
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        <name>HARRIS CNTY TX CULTURAL EDU FACS FIN CORP MED FACS REVENUE</name>
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          <isin value="US414008CX87"/>
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        <name>INDIANA ST FIN AUTH ENVRNMNTL REVENUE</name>
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        <title>Indiana Finance Authority</title>
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          <isin value="US455054AD89"/>
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        <name>INDIANA ST FIN AUTH ECON DEV REVENUE</name>
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          <isin value="US45505RBT14"/>
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        <name>IOWA ST FIN AUTH SOL WST DISP REVENUE</name>
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          <maturityDt>2037-08-01</maturityDt>
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        <name>IOWA ST FIN AUTH SOL WST FACSREVENUE</name>
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        <title>Iowa Finance Authority</title>
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          <isin value="US46246YAA01"/>
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        <name>LIBERAL KS INDL DEV REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOWELL AR INDL DEV REVENUE</name>
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      <invstOrSec>
        <name>MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE</name>
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      <invstOrSec>
        <name>MARYLAND ST INDL DEV FING AUTH PORT FACS REVENUE</name>
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          <isin value="US574076AA35"/>
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      <invstOrSec>
        <name>MARYLAND ST HLTH &amp; HGR EDUCTNL FACS AUTH REVENUE</name>
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          <isin value="US57421CHX56"/>
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        <name>MASSACHUSETTS ST DEV FIN AGY REVENUE</name>
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        <title>Massachusetts Development Finance Agency</title>
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          <isin value="US57585BRA88"/>
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      <invstOrSec>
        <name>MEADE CNTY KY INDL BLDG REVENUE</name>
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          <isin value="US583022AD04"/>
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          <couponKind>Floating</couponKind>
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        <name>MEADE CNTY KY INDL BLDG REVENUE</name>
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          <isin value="US583022AE86"/>
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        <valUSD>100000.00000000</valUSD>
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      <invstOrSec>
        <name>MIAMI-DADE CNTY FL INDL DEV AUTH SOL WST DISP REVENUE</name>
        <lei>549300RM19LZY32DAU30</lei>
        <title>Miami-Dade County Industrial Development Authority</title>
        <cusip>59333GAL2</cusip>
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          <isin value="US59333GAL23"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-01</maturityDt>
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      <invstOrSec>
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        <title>Miami-Dade County Industrial Development Authority</title>
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          <isin value="US59333GAN88"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-11-01</maturityDt>
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        <name>MICHIGAN ST BLDG AUTH REVENUE</name>
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          <isin value="US594615KQ80"/>
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        <name>MISSION TX ECON DEV CORP SOL WST DISP REVENUE</name>
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        <name>MISSISSIPPI ST BUSINESS FIN CORP</name>
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        <name>MISSOURI ST DEV FIN BRD CULTURAL FACS REVENUE</name>
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        <title>Missouri Development Finance Board</title>
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        <name>MIZUHO FLOATER/RESIDUAL TRUST VARIOUS STATES</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OKLAHOMA ST DEV FIN AUTH HLTHSYS REVENUE</name>
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        <name>PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>POUGHKEEPSIE CITY NY</name>
        <lei>N/A</lei>
        <title>City of Poughkeepsie NY</title>
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          <isin value="US7386297D01"/>
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        <curCd>USD</curCd>
        <valUSD>6066408.41000000</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>2026-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>RED CEDAR WI INDL DEV REVENUE</name>
        <lei>N/A</lei>
        <title>Town of Red Cedar WI</title>
        <cusip>756445AA0</cusip>
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          <isin value="US756445AA08"/>
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        <curCd>USD</curCd>
        <valUSD>9850000.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
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      <invstOrSec>
        <name>SAINT JOHN THE BAPTIST PARISH LA REVENUE</name>
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        <title>Parish of St John the Baptist LA</title>
        <cusip>79020FBA3</cusip>
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          <isin value="US79020FBA30"/>
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        <curCd>USD</curCd>
        <valUSD>424157.31000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.38000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SEVIER CNTY TN PUBLIC BLDG AUTH</name>
        <lei>549300W1TCZIAX7JRK58</lei>
        <title>Public Building Authority of Sevier County TN/The</title>
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          <isin value="US818200JE81"/>
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        <curCd>USD</curCd>
        <valUSD>22715000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.42000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTH CAROLINA JOBS-ECON DEV AUTH ENVRNMNTL IMPT REVENUE</name>
        <lei>5493006X47I9VG3DL112</lei>
        <title>South Carolina Jobs-Economic Development Authority</title>
        <cusip>83703DAA5</cusip>
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          <isin value="US83703DAA54"/>
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        <balance>5400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5406343.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTH CAROLINA ST PUBLIC SVC AUTH REVENUE</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
        <title>South Carolina Public Service Authority</title>
        <cusip>837151WN5</cusip>
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          <isin value="US837151WN58"/>
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        <balance>14755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14755000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.53000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTH DAKOTA ST HLTH &amp; EDUCTNL FACS AUTH</name>
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        <title>South Dakota Health &amp; Educational Facilities Authority</title>
        <cusip>83755VU69</cusip>
        <identifiers>
          <isin value="US83755VU698"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6000000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTHEAST ENERGY AUTHORITY A COOPERATIVE</name>
        <lei>25490090A3RLJHITY273</lei>
        <title>Southeast Energy Authority A Cooperative District</title>
        <cusip>84136HCQ4</cusip>
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          <isin value="US84136HCQ48"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>933626.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TARRANT CNTY TX CULTURAL EDU FACS FIN CORP REVENUE</name>
        <lei>549300ROY505NVTMMI25</lei>
        <title>Tarrant County Cultural Education Facilities Finance Corp</title>
        <cusip>87638TDC4</cusip>
        <identifiers>
          <isin value="US87638TDC45"/>
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        <balance>9360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9360000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.35000000</annualizedRt>
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      <invstOrSec>
        <name>TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts/Certificates</title>
        <cusip>88035HZ74</cusip>
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          <isin value="US88035HZ748"/>
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        <balance>7125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7125000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES</name>
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        <title>Tender Option Bond Trust Receipts/Certificates</title>
        <cusip>88035PHF8</cusip>
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          <isin value="US88035PHF80"/>
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        <balance>20000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.68000000</annualizedRt>
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        <name>TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES</name>
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        <title>Tender Option Bond Trust Receipts/Certificates</title>
        <cusip>88035PNZ7</cusip>
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          <isin value="US88035PNZ70"/>
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        <name>TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES</name>
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        <title>Tender Option Bond Trust Receipts/Certificates</title>
        <cusip>88035PPB8</cusip>
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        <name>TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES</name>
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        <title>Tender Option Bond Trust Receipts/Certificates</title>
        <cusip>88035RFE9</cusip>
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          <isin value="US88035RFE99"/>
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        <debtSec>
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        <name>TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES</name>
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        <name>TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES</name>
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        <cusip>88035TNX4</cusip>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2056-04-01</maturityDt>
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        <name>TEXAS ST MUNI GAS ACQUISITION &amp; SPLY CORP I GAS SPLY REVENUE</name>
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        <balance>2525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2604222.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>TEXAS ST MUNI GAS ACQUISITION &amp; SPLY CORP VI GAS SPLY REV</name>
        <lei>254900OCOQCKZZ4U6C83</lei>
        <title>Texas Municipal Gas Acquisition &amp; Supply Corp VI</title>
        <cusip>88256FAA0</cusip>
        <identifiers>
          <isin value="US88256FAA03"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254508.43000000</valUSD>
        <pctVal>0.021194917473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-01</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>VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE</name>
        <lei>N/A</lei>
        <title>Virginia Small Business Financing Authority</title>
        <cusip>928104QQ4</cusip>
        <identifiers>
          <isin value="US928104QQ41"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>759541.95000000</valUSD>
        <pctVal>0.063253028389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WALKER CNTY AL ECON &amp; INDL DEV AUTH SOL WST DISP REVENUE</name>
        <lei>N/A</lei>
        <title>Walker County Economic &amp; Industrial Development Authority</title>
        <cusip>931542AB0</cusip>
        <identifiers>
          <isin value="US931542AB08"/>
        </identifiers>
        <balance>4700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4700000.00000000</valUSD>
        <pctVal>0.391405943316</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-08-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.30000000</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>WEEHAWKEN TWP NJ</name>
        <lei>549300NEPL206Q5RBR93</lei>
        <title>Township of Weehawken NJ</title>
        <cusip>948560VV6</cusip>
        <identifiers>
          <isin value="US948560VV67"/>
        </identifiers>
        <balance>4395000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4409441.97000000</valUSD>
        <pctVal>0.367208892291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-14</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>WEEHAWKEN TWP NJ</name>
        <lei>549300NEPL206Q5RBR93</lei>
        <title>Township of Weehawken NJ</title>
        <cusip>948560VW4</cusip>
        <identifiers>
          <isin value="US948560VW41"/>
        </identifiers>
        <balance>13927000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13969769.82000000</valUSD>
        <pctVal>1.163372539216</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>W JEFFERSON AL INDL DEV BRD SOL WST DISP REVENUE</name>
        <lei>N/A</lei>
        <title>West Jefferson Industrial Development Board</title>
        <cusip>95345PAB4</cusip>
        <identifiers>
          <isin value="US95345PAB40"/>
        </identifiers>
        <balance>5200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5200000.00000000</valUSD>
        <pctVal>0.433044873456</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WEST VIRGINIA ST ECON DEV AUTH SOL WST DISP FACS</name>
        <lei>549300WW88TKKF5H1220</lei>
        <title>West Virginia Economic Development Authority</title>
        <cusip>95648VAW9</cusip>
        <identifiers>
          <isin value="US95648VAW90"/>
        </identifiers>
        <balance>7300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7300000.00000000</valUSD>
        <pctVal>0.607928380045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.34000000</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 VIRGINIA ST ECON DEV AUTH SOL WST DISP FACS</name>
        <lei>549300WW88TKKF5H1220</lei>
        <title>West Virginia Economic Development Authority</title>
        <cusip>95648VBZ1</cusip>
        <identifiers>
          <isin value="US95648VBZ13"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10000000.00000000</valUSD>
        <pctVal>0.832778602801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.55000000</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 VIRGINIA ST HOSP FIN AUTH</name>
        <lei>N/A</lei>
        <title>West Virginia Hospital Finance Authority</title>
        <cusip>956622P32</cusip>
        <identifiers>
          <isin value="US956622P323"/>
        </identifiers>
        <balance>24275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24275000.00000000</valUSD>
        <pctVal>2.021570058301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-03</ncom:dateSigned>
      <ncom:nameOfApplicant>abrdn Funds</ncom:nameOfApplicant>
      <ncom:signature>Michael Marsico</ncom:signature>
      <ncom:signerName>Michael Marsico</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
