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        <name>PINON PINES MET DIST #3 CO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LATROBE PA INDL DEV AUTH UNIV</name>
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        <name>BARTOW CNTY GA DEV AUTH SOLID</name>
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        <name>PUBLIC FIN AUTH WI TOLL REVENU</name>
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          <isCashCollateral>N</isCashCollateral>
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        <name>LITTLE ELM TX SPL ASSMNT REVEN</name>
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          <isin value="US537098AM73"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-09-01</maturityDt>
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        <name>AVIMOR CMNTY INFRASTRUCTURE DI</name>
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          <isin value="US05372AAA43"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-09-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ARIZONA ST INDL DEV AUTH EDU R</name>
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          <isin value="US04052BTS33"/>
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          <maturityDt>2060-07-01</maturityDt>
          <couponKind>Variable</couponKind>
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          <maturityDt>2041-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>SUGARLOAF CDD FL CAPITAL IMPT</name>
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          <isin value="US865037AB18"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-15</maturityDt>
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        <name>SOUTH CAROLINA ST JOBS-ECON DE</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-15</maturityDt>
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        <name>IOWA ST FIN AUTH MIDWSTRN DISA</name>
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          <isin value="US46246SAV79"/>
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        <name>AVE MARIA FL STEWARDSHIP CMNTY</name>
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        <name>MONROE LA WTR REVENUE</name>
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        <name>PUBLIC FIN AUTH WI SENIOR LIVI</name>
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        <name>SCHAUMBURG COOK &amp; DUPAGE CNTYS</name>
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        <name>CALIFORNIA ST MUNI FIN AUTH CH</name>
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        <name>UNIV OF ALABAMA AT BIRMINGHAM</name>
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        <name>CALIFORNIA ST MUNI FIN AUTH SP</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US13051AGB89"/>
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          <maturityDt>2053-09-01</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>LEES SUMMIT MO INDL DEV AUTH S</name>
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        <cusip>524292AS8</cusip>
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          <isin value="US524292AS87"/>
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        <curCd>USD</curCd>
        <valUSD>451846.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>ANSON TX EDU FACS CORP EDU REV</name>
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        <title>Anson Education Facilities Corp</title>
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          <isin value="US036472AA68"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>OKLAHOMA ST DEV FIN AUTH</name>
        <lei>549300PXGPHUWC32DJ91</lei>
        <title>Oklahoma Development Finance Authority</title>
        <cusip>6789083V4</cusip>
        <identifiers>
          <isin value="US6789083V45"/>
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        <balance>2400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2372805.12000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-01</maturityDt>
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          <annualizedRt>7.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLORIDA ST DEV FIN CORP SOL WS</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp</title>
        <cusip>34061XAG7</cusip>
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          <isin value="US34061XAG79"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1010275.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLORIDA ST DEV FIN CORP SENIOR</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp</title>
        <cusip>34061WBL7</cusip>
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          <isin value="US34061WBL72"/>
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        <balance>1005000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>884328.44000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WI STUDENT HSG</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
        <cusip>74439YFU0</cusip>
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          <isin value="US74439YFU01"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>757896.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARIZONA ST INDL DEV AUTH EDU R</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority</title>
        <cusip>04052BPL2</cusip>
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          <isin value="US04052BPL26"/>
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        <balance>365000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>365333.54000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WI TOLL REVENU</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
        <cusip>74448UAA6</cusip>
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          <isin value="US74448UAA60"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1104804.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AVIMOR CMNTY INFRASTRUCTURE DI</name>
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        <title>Avimor Community Infrastructure District No 1</title>
        <cusip>05372AAB2</cusip>
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          <isin value="US05372AAB26"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1485334.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>CAPITAL TRUST AUTH FL EDUCTNL</name>
        <lei>N/A</lei>
        <title>Capital Trust Authority</title>
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          <isin value="US14054WDB81"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1499269.05000000</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>2055-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>LARAMIE CNTY WY HOSP REVENUE</name>
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          <isin value="US516706DQ82"/>
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        <balance>1490000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
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        <title>New York Transportation Development Corp</title>
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          <isin value="US650116CZ75"/>
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        <balance>1250000.00000000</balance>
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          <maturityDt>2040-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>ROWLETT TX SPL ASSMNT REVENUE</name>
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        <cusip>779719AL7</cusip>
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          <isin value="US779719AL71"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-09-15</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>CLACKAMAS CNTY OR HOSP FAC AUT</name>
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        <title>Clackamas County Hospital Facility Authority</title>
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          <isin value="US179027WP89"/>
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          <maturityDt>2037-11-15</maturityDt>
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      <invstOrSec>
        <name>SAINT LOUIS CNTY MO INDL DEV A</name>
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        <title>St Louis County Industrial Development Authority</title>
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          <isin value="US791524CE94"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST POLL CONTROL FIN</name>
        <lei>N/A</lei>
        <title>California Pollution Control Financing Authority</title>
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          <isin value="US13054WAB37"/>
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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>2037-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOLEIL HILLS PUB INFRASTRUCTUR</name>
        <lei>N/A</lei>
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        <name>CHARLOTTE CNTY FL INDL DEV AUT</name>
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        <name>HARRIS CNTY TX CULTURAL EDU FA</name>
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        <name>CROSSINGS CDD FL SPL ASSMNT</name>
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        <name>CAPITAL TRUST AUTH FL EDUCTNL</name>
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        <name>HAMILTON CNTY OH HLTH CARE REV</name>
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        <name>GREAT LAKES MI WTR AUTH WTR SP</name>
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        <name>PUBLIC FIN AUTH WI HOTEL REVEN</name>
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        <name>FIREFLY PUBLIC INFRASTRUCTURE</name>
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        <name>PUBLIC FIN AUTH WI RETMNT CMNT</name>
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        <name>CHARLOTTE CNTY FL INDL DEV AUT</name>
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        <name>PRINCETON TX SPL ASSMNT REVENU</name>
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        <name>CALIFORNIA ST MUNI FIN AUTH RE</name>
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      <invstOrSec>
        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
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        <name>LOWRY CROSSING TX SPL ASSMNT R</name>
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          <isin value="US54877WAC01"/>
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      <invstOrSec>
        <name>LAVON TX SPL ASSMT REVENUE</name>
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          <isin value="US51946PCG72"/>
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        <name>CSCDA CMNTY IMPT AUTH CA ESSEN</name>
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          <isin value="US126292AP68"/>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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          <isin value="US13032UMH85"/>
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          <maturityDt>2042-02-01</maturityDt>
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        <name>PORT OF GTR CINCINNATI DEV AUT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MOBILE AL INDL DEV BRD POLL CO</name>
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        <name>SHAWNEE CNTY KS PUBLIC BLDG CO</name>
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        <name>BRIDGEVILLE DE SPL OBLIG</name>
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        <name>SOUTH CAROLINA ST JOBS-ECON DE</name>
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        <name>APPLE VY MN SENIOR HSG REVENUE</name>
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        <name>PUBLIC FIN AUTH WI RETMNT CMNT</name>
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        <name>VIRGIN ISLANDS PUBLIC FIN AUTH</name>
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        <name>N SUMTER CNTY FL UTILITY DEPEN</name>
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        <name>BOYLE CNTY KY EDUCTNL FACS REV</name>
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        <name>PUBLIC FIN AUTH WI CHRT SCH RE</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
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        <name>PALM BEACH CNTY FL REVENUE</name>
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        <name>AMERICAN SAMOA AS ECON DEV AUT</name>
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        <name>V-DANA CDD FL SPL ASSMNT</name>
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        <name>LAVON TX SPL ASSMT REVENUE</name>
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        <name>LANCASTER PA MUNI AUTH HLTHCAR</name>
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          <isin value="US13050RAA05"/>
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        <name>WYANDOTTE CNTY KS KANSAS CITY</name>
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        <name>PARRISH LAKES CDD CAPITAL IMPT</name>
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        <name>WINROCK TOWN CENTER NM TAX INC</name>
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        <name>BRADDOCK LAKES CDD FL CAPITAL</name>
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        <name>SOUTH CAROLINA ST JOBS-ECON DE</name>
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        <name>APPLE VY MN SENIOR HSG REVENUE</name>
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        <name>LTC RANCH WEST RSDL CMNTY DEV</name>
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        <name>LOUISIANA PUB FACS AUTH REVENU</name>
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      <invstOrSec>
        <name>NATIONAL FIN AUTH NH REVENUE</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63607YCW8</cusip>
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          <isin value="US63607YCW84"/>
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          <maturityDt>2050-06-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>EAST MONTGOMERY CNTY MUN UTILI</name>
        <lei>N/A</lei>
        <title>East Montgomery County Municipal Utility District No 7</title>
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          <isin value="US27373DHC02"/>
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        <curCd>USD</curCd>
        <valUSD>65465.91000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2045-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>NATIONAL FIN AUTH NH SPL REVEN</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63608TAC4</cusip>
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          <isin value="US63608TAC45"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>999711.10000000</valUSD>
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          <maturityDt>2035-12-15</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>MIAMI-DADE CNTY FL SEAPORT REV</name>
        <lei>N/A</lei>
        <title>County of Miami-Dade Seaport Department</title>
        <cusip>59335KFB8</cusip>
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          <isin value="US59335KFB89"/>
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        <balance>1900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1926489.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-10-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LAVON TX SPL ASSMT REVENUE</name>
        <lei>N/A</lei>
        <title>City of Lavon TX</title>
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          <isin value="US51946PCD42"/>
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        <balance>429000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>432562.42000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDIANA ST FIN AUTH HLTH FAC R</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority</title>
        <cusip>45471CCK2</cusip>
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          <isin value="US45471CCK27"/>
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        <balance>535000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>563509.62000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>NATIONAL FIN AUTH NH SPL REVEN</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63608TBE9</cusip>
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          <isin value="US63608TBE91"/>
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        <balance>4413000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LAKEWOOD RANCH FL STEWARDSHIP</name>
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        <cusip>51265KFZ6</cusip>
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          <isin value="US51265KFZ66"/>
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        <balance>765000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JUSTIN TX SPL ASSMNT REVENUE</name>
        <lei>N/A</lei>
        <title>City of Justin TX</title>
        <cusip>482184AL2</cusip>
        <identifiers>
          <isin value="US482184AL29"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>371258.37000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-01</maturityDt>
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          <annualizedRt>3.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AUBREY TX SPL ASSMNT</name>
        <lei>N/A</lei>
        <title>City of Aubrey TX</title>
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          <isin value="US050197BF83"/>
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        <valUSD>1042390.80000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2045-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>SAWYERS LANDING CDD FL SPL ASS</name>
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          <isin value="US805517AD11"/>
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          <maturityDt>2053-05-01</maturityDt>
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        <name>WOODBURY MN CHRT SCH LEASE REV</name>
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        <name>CLEVELAND-CUYAHOGA CNTY OH POR</name>
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          <isin value="US18611HAB15"/>
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          <maturityDt>2055-12-01</maturityDt>
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        <name>NASSAU CNTY NY LOCAL ECON ASSI</name>
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        <name>SOUTH CAROLINA ST JOBS-ECON DE</name>
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        <title>South Carolina Jobs-Economic Development Authority</title>
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        <name>HAMILTON CNTY OH HLTH CARE REV</name>
        <lei>549300TO1E3N4E4YIO28</lei>
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          <isin value="US40727RCK23"/>
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        <name>MERIDIAN RANCH MET DIST 2018 S</name>
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      <invstOrSec>
        <name>EPPERSON N CDD FL CAPITAL IMPT</name>
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      <invstOrSec>
        <name>HAMILTON BLUFF CMNTY DEV DIST</name>
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          <maturityDt>2031-05-01</maturityDt>
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        <name>TROUT CREEK CDD FL CAPITAL IMP</name>
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        <curCd>USD</curCd>
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          <maturityDt>2051-05-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>CALIFORNIA STWD CMNTYS DEV AUT</name>
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          <isin value="US13080SVJ04"/>
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          <maturityDt>2033-12-01</maturityDt>
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        <name>COLUMBIA CNTY GA HOSP AUTH</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-04-01</maturityDt>
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        <name>CHICAGO IL BRD OF EDU</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SOUTHEAST ENERGY AUTHORITY A C</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>PORT OF GTR CINCINNATI DEV AUT</name>
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        <title>Port of Greater Cincinnati Development Authority</title>
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          <maturityDt>2031-12-01</maturityDt>
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        <name>NATIONAL FIN AUTH NH SPL REVEN</name>
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        <title>New Hampshire Business Finance Authority</title>
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        <name>MAIN STREET NATURAL GAS INC GA</name>
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        <name>LAVON TX SPL ASSMT REVENUE</name>
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          <maturityDt>2052-09-15</maturityDt>
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        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
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          <maturityDt>2031-08-01</maturityDt>
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        <name>ATLANTA GA DEV AUTH</name>
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        <name>PUBLIC FIN AUTH WI CHRT SCH RE</name>
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        <name>PRINCETON TX SPL ASSMNT REVENU</name>
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        <name>SAINT JAMES PARISH LA REVENUE</name>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <name>SKAGIT CNTY WA PUBLIC HOSP DIS</name>
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        <name>ARIZONA ST INDL DEV AUTH EDU R</name>
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          <maturityDt>2041-11-01</maturityDt>
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        <name>NEW ORLEANS LA SEWAGE SVC REVE</name>
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        <name>BRIGHTON CROSSING MET DIST #6</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PUERTO RICO INDL TOURIST EDUCT</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-01-01</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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        <name>TEMPE AZ INDL DEV AUTH REVENUE</name>
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        <name>POLK CNTY FL INDL DEV AUTH</name>
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        <name>MARYLAND ST ECON DEV CORP STUD</name>
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        <name>REUNION E FL CDD SPL ASSMNT</name>
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        <name>SAN LUIS OBISPO CNTY CA FING A</name>
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        <name>PUBLIC FIN AUTH WI CHRT SCH RE</name>
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        <name>KYLE TX SPL ASSMNT REVENUE</name>
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        <name>KYLE TX SPL ASSMNT REVENUE</name>
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        <name>NORTH CAROLINA ST MED CARE COM</name>
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        <name>GEISINGER PA AUTH HLTH SYS REV</name>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST MUNI FIN AUTH RE</name>
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          <isin value="US13048V3F35"/>
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        <valUSD>792214.07000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-11-01</maturityDt>
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      <invstOrSec>
        <name>SAINT PAUL MN HSG &amp; REDEV AUTH</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-15</maturityDt>
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      <invstOrSec>
        <name>WINROCK TOWN CENTER NM TAX INC</name>
        <lei>N/A</lei>
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          <isin value="US97535RAF73"/>
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        <curCd>USD</curCd>
        <valUSD>492593.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MISSISSIPPI ST BUSINESS FIN CO</name>
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        <title>Mississippi Business Finance Corp</title>
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          <isin value="US60528ABH68"/>
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        <curCd>USD</curCd>
        <valUSD>1925000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>POUDRE HEIGHTS VLY MET DIST CO</name>
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          <isin value="US73856AAA79"/>
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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>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>PARKLAND PRESERVE CDD FL SPL A</name>
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          <isin value="US701403AC10"/>
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        <curCd>USD</curCd>
        <valUSD>482937.61000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>FULTON CNTY GA DEV AUTH REVENU</name>
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        <title>Development Authority for Fulton County</title>
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          <isin value="US36005FGE97"/>
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        <curCd>USD</curCd>
        <valUSD>2031225.79000000</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>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ATLANTA GA DEV AUTH</name>
        <lei>N/A</lei>
        <title>Atlanta Development Authority/The</title>
        <cusip>04780NMW4</cusip>
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          <isin value="US04780NMW47"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>514840.90000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>FLORIDA DEV FIN CORP HLTHCAREF</name>
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        <title>Florida Development Finance Corp</title>
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          <isin value="US34061QDU85"/>
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        <curCd>USD</curCd>
        <valUSD>1285562.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>PIMA CNTY AZ INDL DEV AUTH SEN</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-15</maturityDt>
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        <name>MOBILE AL INDL DEV BRD SOL WST</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-01</maturityDt>
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        <name>HENDERSON KY EXEMPT FACS REVEN</name>
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        <title>City of Henderson KY</title>
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          <maturityDt>2042-01-01</maturityDt>
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        <name>SAINT JOHNS CNTY FL INDL DEV A</name>
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        <title>Commonwealth of Puerto Rico</title>
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        <name>PUBLIC FIN AUTH WI CHRT SCH RE</name>
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        <title>Public Finance Authority</title>
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        <name>BUCKEYE OH TOBACCO SETTLEMENT</name>
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        <name>KINSTON MET DIST CO #5</name>
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        <title>Kinston Metropolitan District No 5</title>
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          <maturityDt>2052-09-15</maturityDt>
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        <name>OLYMPIA PUBLIC INFRASTRUCTURE</name>
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        <name>CROSSWINDS EAST CDD FL SPL ASS</name>
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        <name>TULSA OK MUNI ARPT TRUST TRUST</name>
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        <name>NORTH CAROLINA ST MED CARE COM</name>
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        <name>KYLE TX SPL ASSMNT REVENUE</name>
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        <name>WINROCK TOWN CENTER NM TAX INC</name>
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        <name>LANCASTER CNTY PA HOSP AUTH HL</name>
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        <name>KENTUCKY ST PUBLIC ENERGY AUTH</name>
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        <name>TEMPE AZ INDL DEV AUTH REVENUE</name>
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        <name>PUBLIC FIN AUTH WI EDU REVENUE</name>
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        <name>PUBLIC FIN AUTH WI CHRT SCH RE</name>
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        <name>SAINT JOHNS CNTY FL INDL DEV A</name>
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      <invstOrSec>
        <name>CSCDA CMNTY IMPT AUTH CA ESSEN</name>
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          <isin value="US74529JRJ69"/>
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          <maturityDt>2040-07-01</maturityDt>
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        <name>PRINCETON TX SPL ASSMNT REVENU</name>
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          <isin value="US742400BZ68"/>
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        <debtSec>
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        <name>BALTIMORE MD SPL OBLIG</name>
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          <isin value="US05923TBY47"/>
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        <invCountry>US</invCountry>
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        <debtSec>
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        <name>POMPANO BEACH FL REVENUE</name>
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          <isin value="US732203BG87"/>
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          <maturityDt>2041-09-01</maturityDt>
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        <name>COLORADO ST HLTH FACS AUTH REV</name>
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          <isin value="US19648FTE42"/>
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        <name>HOUSTON TX ARPT SYS REVENUE</name>
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          <isin value="US442349HV18"/>
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        <name>WOOD RANCH PUB INFRASTRUCTURE</name>
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        <name>HENDERSON NV LOCAL IMPT DISTS</name>
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        <name>PUBLIC FIN AUTH WI RETMNT FAC</name>
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        <name>SOUTH CAROLINA ST JOBS-ECON DE</name>
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        <name>CALIFORNIA CNTY CA TOBACCO SEC</name>
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        <name>MASSACHUSETTS ST DEV FIN AGY R</name>
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        <name>WEST VIRGINIA ST ECON DEV AUTH</name>
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        <name>WESTPOINTE SPL IMPT DIST TX</name>
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        <name>PUBLIC FIN AUTH WI EDU REVENUE</name>
        <lei>5493004S6D3NA627K012</lei>
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      <invstOrSec>
        <name>DENVER CO INTERNATIONAL BUSINE</name>
        <lei>N/A</lei>
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          <maturityDt>2048-12-01</maturityDt>
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      <invstOrSec>
        <name>HILLSBOROUGH CNTY FL AVIATION</name>
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          <isin value="US432308L850"/>
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          <maturityDt>2048-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MUSKINGUM CNTY OH HOSP FACS</name>
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          <isin value="US628077CV98"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-02-15</maturityDt>
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      <invstOrSec>
        <name>SALEM OR HOSP FAC AUTH REVENUE</name>
        <lei>N/A</lei>
        <title>Salem Hospital Facility Authority</title>
        <cusip>794458EW5</cusip>
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          <isin value="US794458EW52"/>
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        <balance>840000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BALTIMORE MD SPL OBLIG</name>
        <lei>N/A</lei>
        <title>City of Baltimore MD</title>
        <cusip>05923TCL1</cusip>
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          <isin value="US05923TCL17"/>
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        <curCd>USD</curCd>
        <valUSD>186947.48000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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      <invstOrSec>
        <name>PALM DESERT CA SPL TAX</name>
        <lei>N/A</lei>
        <title>City of Palm Desert CA</title>
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          <isin value="US696627ER52"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>432237.47000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>MISSOURI ST HLTH &amp; EDUCTNL FAC</name>
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          <isin value="US60635H2Q12"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
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        <name>OHIO ST HGR EDUCTNL FAC COMMIS</name>
        <lei>5493007MQT6NGNN6BR81</lei>
        <title>Ohio Higher Educational Facility Commission</title>
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          <isin value="US67756DXK70"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-12-01</maturityDt>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-07-01</maturityDt>
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        <name>MARICOPA CNTY INDL DEV AUTH EX</name>
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          <isin value="US56678TAA79"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-10-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>IDAHO FALLS ID AUDITORIUM DIST</name>
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        <name>HENDERSON NV LOCAL IMPT DISTS</name>
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        <name>SAINT PAUL MN HSG &amp; REDEV AUTH</name>
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        <name>PUB FIN AUTH WI TAX INCREMENT</name>
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        <name>MONTGOMERY CNTY PA INDL DEV AU</name>
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        <name>PUBLIC FIN AUTH WI EDU REVENUE</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
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        <name>MAIN STREET NATURAL GAS INC GA</name>
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      <invstOrSec>
        <name>BABCOCK RANCH CMNTY INDEP SPL</name>
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      <invstOrSec>
        <name>NORMANDY CDD FL CAPITAL IMPT R</name>
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          <maturityDt>2044-05-01</maturityDt>
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        <name>NATIONAL FIN AUTH NH SPL REVEN</name>
        <lei>N/A</lei>
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          <isin value="US63608TAK60"/>
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        <curCd>USD</curCd>
        <valUSD>2002003.40000000</valUSD>
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          <maturityDt>2031-12-01</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>PINE VIEW PUBLIC INFRASTRUCTUR</name>
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          <isin value="US72302PAA66"/>
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        <curCd>USD</curCd>
        <valUSD>1501558.65000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-01</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>VILLAGE MET DIST CO</name>
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          <isin value="US92708CAD74"/>
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        <curCd>USD</curCd>
        <valUSD>1208541.60000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2055-12-01</maturityDt>
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        <name>SALEM OR HOSP FAC AUTH REVENUE</name>
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        <title>Salem Hospital Facility Authority</title>
        <cusip>794458EV7</cusip>
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          <isin value="US794458EV79"/>
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        <curCd>USD</curCd>
        <valUSD>749277.38000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PROSPERITY LAKES CMNTY DEV DIS</name>
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          <isin value="US74363HAC25"/>
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        <balance>990000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OHIO ST HSG FIN AGY MF HSG REV</name>
        <lei>549300K10X7VPG6JVX38</lei>
        <title>Ohio Housing Finance Agency</title>
        <cusip>676900YJ6</cusip>
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          <isin value="US676900YJ66"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1264041.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.10000000</annualizedRt>
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        <name>THOMPSON CROSSING MET DIST #4</name>
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        <balance>900000.00000000</balance>
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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>2039-12-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>RUTHERFORD CNTY TN HLTH &amp; EDUC</name>
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        <title>Rutherford County Health &amp; Educational Facilities Board</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NATIONAL FIN AUTH NH REVENUE</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63607YAJ9</cusip>
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          <isin value="US63607YAJ91"/>
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        <balance>2000000.00000000</balance>
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          <maturityDt>2045-07-01</maturityDt>
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        <name>TRIPLE CREEK FL CDD SPL ASSMNT</name>
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        <title>Triple Creek Community Development District</title>
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          <isin value="US89677RBF10"/>
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        <balance>835000.00000000</balance>
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        <name>TENNESSEE ST ENERGY ACQUISITIO</name>
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        <name>PIONEER RANCH CDD FL SPL ASSMN</name>
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        <name>IOWA ST FIN AUTH MIDWSTRN DISA</name>
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        <title>Iowa Finance Authority</title>
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        <name>UTAH ST CHRT SCH FIN AUTH CHRT</name>
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        <name>VOLUSIA CNTY FL EDUCTNL FAC AU</name>
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        <name>PUBLIC FIN AUTH WI CHRT SCH RE</name>
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          <isin value="US744396FN78"/>
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          <maturityDt>2037-12-01</maturityDt>
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        <name>PUBLIC FIN AUTH WI HOSP REVENU</name>
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          <isin value="US74442CDG69"/>
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          <maturityDt>2041-12-01</maturityDt>
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        <name>MONTGOMERY CNTY PA INDL DEV AU</name>
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        <name>PHILADELPHIA PA ARPT REVENUE</name>
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        <name>PROSPERITY LAKES CMNTY DEV DIS</name>
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        <name>MONTGOMERY CNTY PA INDL DEV AU</name>
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        <name>ILLINOIS ST FIN AUTH CHRT SCHR</name>
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        <name>CLACKAMAS CNTY OR HOSP FAC AUT</name>
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        <name>NEW YORK CITY NY TRANSITIONAL</name>
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          <isin value="US45203KAH86"/>
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          <isin value="US45204FT707"/>
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      <invstOrSec>
        <name>OYSTER BAY NY</name>
        <lei>N/A</lei>
        <title>Town of Oyster Bay NY</title>
        <cusip>692160TG9</cusip>
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          <isin value="US692160TG92"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>436713.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BERKS CNTY PA INDL DEV AUTH HL</name>
        <lei>N/A</lei>
        <title>Berks County Industrial Development Authority</title>
        <cusip>08452RAD8</cusip>
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          <isin value="US08452RAD89"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>589149.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ELBERT &amp; HIGHWAY 86 CO COMMERC</name>
        <lei>N/A</lei>
        <title>Elbert &amp; Highway 86 Commercial Metropolitan District</title>
        <cusip>28421SAB6</cusip>
        <identifiers>
          <isin value="US28421SAB60"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1715974.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MANGROVE POINT &amp; MANGROVE MANO</name>
        <lei>N/A</lei>
        <title>Mangrove Point &amp; Mangrove Manor Community Development District</title>
        <cusip>56271TAC4</cusip>
        <identifiers>
          <isin value="US56271TAC45"/>
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        <balance>1130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1007951.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONNECTICUT ST HLTH &amp; EDUCTNL</name>
        <lei>549300ZOQJ5U8YBS5Q35</lei>
        <title>Connecticut State Health &amp; Educational Facilities Authority</title>
        <cusip>20775DFA5</cusip>
        <identifiers>
          <isin value="US20775DFA54"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>805508.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PHILADELPHIA PA GAS WKS REVENU</name>
        <lei>549300H8UJ7V5WU5IA90</lei>
        <title>Philadelphia Gas Works Co</title>
        <cusip>71783MAY1</cusip>
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          <isin value="US71783MAY12"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1727527.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MAIN STREET NATURAL GAS INC GA</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
        <title>Main Street Natural Gas Inc</title>
        <cusip>56035DGB2</cusip>
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          <isin value="US56035DGB29"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1071680.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp</title>
        <cusip>650116HM1</cusip>
        <identifiers>
          <isin value="US650116HM18"/>
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        <balance>1515000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1538520.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MONONGALIA CNTY WV COMMISSION</name>
        <lei>N/A</lei>
        <title>County of Monongalia WV</title>
        <cusip>61022DAB3</cusip>
        <identifiers>
          <isin value="US61022DAB38"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>630620.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HILLSBOROUGH CNTY FL AVIATION</name>
        <lei>N/A</lei>
        <title>Hillsborough County Aviation Authority</title>
        <cusip>432308W91</cusip>
        <identifiers>
          <isin value="US432308W915"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>531735.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SALT LAKE CITY UT ARPT REVENUE</name>
        <lei>N/A</lei>
        <title>City of Salt Lake City UT Airport Revenue</title>
        <cusip>795576MB0</cusip>
        <identifiers>
          <isin value="US795576MB02"/>
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        <balance>2930000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3030661.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DALLAS CENTER IA GRIMES CMNTY</name>
        <lei>N/A</lei>
        <title>Dallas Center-Grimes Community School District</title>
        <cusip>234554JG9</cusip>
        <identifiers>
          <isin value="US234554JG99"/>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1476828.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SANTA FE TX SPL ASSMNT REVENUE</name>
        <lei>N/A</lei>
        <title>City of Santa Fe TX</title>
        <cusip>802208AC2</cusip>
        <identifiers>
          <isin value="US802208AC21"/>
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        <balance>465000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PORT OF SEATTLE WA REVENUE</name>
        <lei>549300T9UCDUJ3GZL429</lei>
        <title>Port of Seattle WA</title>
        <cusip>735389Q76</cusip>
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          <isin value="US735389Q762"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1067030.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALLISON VLY MET DIST #2 CO</name>
        <lei>N/A</lei>
        <title>Allison Valley Metropolitan District No 2</title>
        <cusip>01973MAA0</cusip>
        <identifiers>
          <isin value="US01973MAA09"/>
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        <balance>1110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1023417.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WAKARA RIDGE PUB INFRASTRUCTUR</name>
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        <title>Wakara Ridge Public Infrastructure District</title>
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          <isin value="US930814AA69"/>
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        <balance>2700000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EAST WALLER CNTY MGMT DIST TX</name>
        <lei>N/A</lei>
        <title>East Waller County Management District</title>
        <cusip>275737AB0</cusip>
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          <isin value="US275737AB05"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATIONAL FIN AUTH NH SPL REVEN</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63608TAN0</cusip>
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          <isin value="US63608TAN00"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>1254012.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <name>MIDA MOUNTAIN VLG PUBLIC INFRA</name>
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          <maturityDt>2050-06-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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          <isin value="US71780CBJ80"/>
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        <curCd>USD</curCd>
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          <maturityDt>2056-06-01</maturityDt>
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        <name>BERKS CNTY PA INDL DEV AUTH HL</name>
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          <isin value="US08452RAC07"/>
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          <maturityDt>2042-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NEW HOPE CULTURAL ED FACS FIN</name>
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          <isin value="US64542UHY38"/>
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          <maturityDt>2055-01-01</maturityDt>
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      <invstOrSec>
        <name>PHOENIX AZ INDL DEV AUTH STUDE</name>
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          <isin value="US71885DCS99"/>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>MET WASHINGTON DC ARPTS AUTH A</name>
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          <isin value="US592647PC95"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2045-10-01</maturityDt>
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        <name>PHELPS CNTY MO HOSP REVENUE</name>
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          <isin value="US717252DB32"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2055-12-01</maturityDt>
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        <name>CLACKAMAS CNTY OR HOSP FAC AUT</name>
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        <name>SIERRA VISTA AZ INDL DEV AUTH</name>
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        <name>ILLINOIS ST FIN AUTH STUDENT H</name>
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          <isin value="US45203KAF21"/>
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        <name>DENTON CNTY TX SPL ASSMNT REVE</name>
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        <name>BABCOCK RANCH CMNTY INDEP SPL</name>
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        <name>BUCKHEAD TRAILS II CDD FL SPL</name>
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        <name>POMPANO BEACH FL REVENUE</name>
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        <name>PUBLIC FIN AUTH WI REVENUE</name>
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          <isin value="US74442PVQ52"/>
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        <name>STAMFORD CT HSG AUTH</name>
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          <isin value="US57585BBT44"/>
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      <invstOrSec>
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          <isin value="US442349FZ40"/>
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          <maturityDt>2041-07-01</maturityDt>
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        <name>SIX MILE CREEK FL CDD CAPITAL</name>
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          <isin value="US71885JAB52"/>
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        <name>MINNEAPOLIS-SAINT PAUL MN MET</name>
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        <name>COOL WTR MUNI UTILITY DIST TX</name>
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        <name>PALISADE CO MET DIST #2 LIMITE</name>
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        <name>MOUNTAIN BROOK MET DIST CO</name>
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      <invstOrSec>
        <name>MARYLAND ST HLTH &amp; HGR EDUCTNL</name>
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          <isin value="US57421CMH42"/>
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          <maturityDt>2044-07-01</maturityDt>
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      <invstOrSec>
        <name>COLORADO ST HLTH FACS AUTH REV</name>
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          <isin value="US19648FBT03"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>MET WASHINGTON DC ARPTS AUTH A</name>
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          <isin value="US592647MB40"/>
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        <curCd>USD</curCd>
        <valUSD>1546949.18000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATIONAL FIN AUTH NH SPL REVEN</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63608TAX8</cusip>
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          <isin value="US63608TAX81"/>
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        <curCd>USD</curCd>
        <valUSD>1368924.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>RIVINGTON CDD FL SPL ASSMNT RE</name>
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          <isin value="US769656AB53"/>
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        <balance>760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>746069.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JORDANELLE RIDGE PUBLIC INFRA</name>
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        <title>Jordanelle Ridge Public Infrastructure District No 2</title>
        <cusip>480790AA2</cusip>
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          <isin value="US480790AA22"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2084015.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VIRGINIA SMALL BUSINESS FING A</name>
        <lei>N/A</lei>
        <title>Virginia Small Business Financing Authority</title>
        <cusip>928097AB0</cusip>
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          <isin value="US928097AB03"/>
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        <balance>3545000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3405140.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COBB CNTY GA DEV AUTH CHARTERS</name>
        <lei>N/A</lei>
        <title>Development Authority of Cobb County/The</title>
        <cusip>190779AH1</cusip>
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          <isin value="US190779AH17"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1750826.70000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.40000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>PENNSYLVANIA ST TURNPIKE COMMI</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
        <title>Pennsylvania Turnpike Commission</title>
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          <isin value="US709224PL79"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10061.14000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COCO PALMS FL CDD SPL ASSMNT</name>
        <lei>N/A</lei>
        <title>Coco Palms Community Development District</title>
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          <isin value="US191653AD69"/>
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        <valUSD>997724.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>BUILD NYC RESOURCE CORP NY REV</name>
        <lei>549300GROJFKMNLWEK84</lei>
        <title>Build NYC Resource Corp</title>
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          <isin value="US12008ETX49"/>
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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>2052-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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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          <isin value="US939783Z415"/>
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        <fairValLevel>2</fairValLevel>
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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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          <isin value="US13048VLB26"/>
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        <name>PUBLIC FIN AUTH WI EDUCTNL REV</name>
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        <title>Public Finance Authority</title>
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          <isin value="US74445GAK85"/>
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        <name>LOUISIANA PUB FACS AUTH REVENU</name>
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        <title>Louisiana Public Facilities Authority</title>
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          <isin value="US546399UY07"/>
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        <name>LEXINGTON CNTY SC HLTH SVCS DI</name>
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        <name>CALIFORNIA PUBLIC FIN AUTH SEN</name>
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        <name>PUBLIC FIN AUTH WI SENIOR LIVI</name>
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        <name>COCO PALMS FL CDD SPL ASSMNT</name>
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        <name>HOMEWOOD AL EDUCTNL BLDG AUTH</name>
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        <name>BALTIMORE MD SPL OBLIG</name>
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          <maturityDt>2029-06-01</maturityDt>
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        <name>CHICAGO IL BRD OF EDU</name>
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        <title>Chicago Board of Education</title>
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          <maturityDt>2030-12-01</maturityDt>
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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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          <isin value="US63608TAS96"/>
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        <name>CANYONS MET DIST #5 CO</name>
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        <title>Canyons Metropolitan District No 5</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NORTH CAROLINA ST MED CARE COM</name>
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          <maturityDt>2051-07-15</maturityDt>
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        <name>MAIN STREET NATURAL GAS INC GA</name>
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        <name>DETROIT MI</name>
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        <name>WESTSIDE FL CDD SPL ASSMNT REV</name>
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        <title>Westside Community Development District</title>
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        <name>PUBLIC FIN AUTH WI EDU REVENUE</name>
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        <title>Public Finance Authority</title>
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        <name>OLD HICKORY CDD FL SPL ASSMNT</name>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>SUNSET PARKS MET DIST CO</name>
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        <title>Sunset Parks Metropolitan District</title>
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          <isin value="US86777VAA98"/>
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        <curCd>USD</curCd>
        <valUSD>2734288.36000000</valUSD>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>MIDA CORMONT PUBLIC INFRASTRUC</name>
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          <isin value="US59561JAA34"/>
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        <curCd>USD</curCd>
        <valUSD>1167523.19000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLUMBUS OH REGL ARPT AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US199546DC38"/>
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        <balance>3750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3953313.38000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTH LAS VEGAS NV LOCAL IMPT</name>
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        <title>City of North Las Vegas NV</title>
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        <identifiers>
          <isin value="US66041HGV06"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>185707.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PENNSYLVANIA ST ECON DEV FING</name>
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        <title>Pennsylvania Economic Development Financing Authority</title>
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          <isin value="US70869PHX87"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>310337.68000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARLINGTON TX HGR EDU FIN CORP</name>
        <lei>N/A</lei>
        <title>Arlington Higher Education Finance Corp</title>
        <cusip>041807PU6</cusip>
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          <isin value="US041807PU63"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>510720.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>PUERTO RICO CMWLTH AQUEDUCT &amp;</name>
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        <title>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</title>
        <cusip>745160SJ1</cusip>
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          <isin value="US745160SJ13"/>
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        <balance>4750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4714991.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK ST TRANSPRTN DEV CORP</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp</title>
        <cusip>650116HK5</cusip>
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          <isin value="US650116HK51"/>
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        <balance>165000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>166885.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AVE MARIA FL STEWARDSHIP CMNTY</name>
        <lei>N/A</lei>
        <title>Ave Maria Stewardship Community District</title>
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          <isin value="US05355AAZ03"/>
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        <curCd>USD</curCd>
        <valUSD>1461838.33000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>PUBLIC FIN AUTH WI CHRT SCH RE</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
        <cusip>744396CT7</cusip>
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          <isin value="US744396CT75"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATIONAL FIN AUTH NH SPL REVEN</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63608TAT7</cusip>
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          <isin value="US63608TAT79"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1916686.80000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>MET WASHINGTON DC ARPTS AUTH A</name>
        <lei>N/A</lei>
        <title>Metropolitan Washington Airports Authority Aviation Revenue</title>
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          <isin value="US592647NA57"/>
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        <balance>1470000.00000000</balance>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MARBLE FALLS TX SPL ASSMNT REV</name>
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        <title>City of Marble Falls TX</title>
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          <isin value="US566035AG68"/>
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        <balance>1000000.00000000</balance>
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          <annualizedRt>4.12500000</annualizedRt>
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        <name>LANCASTER CNTY PA HOSP AUTH</name>
        <lei>N/A</lei>
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          <isin value="US514045W666"/>
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        <name>UNION CNTY OR HOSP FAC AUTH</name>
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          <isin value="US906420CG75"/>
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        <balance>750000.00000000</balance>
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        <name>DENTON CNTY TX SPL ASSMNT REVE</name>
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      <invstOrSec>
        <name>DETROIT MI</name>
        <lei>549300BQRJP7MKKHOY28</lei>
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        <cusip>64947PAA4</cusip>
        <identifiers>
          <isin value="US64947PAA49"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2666828.50000000</valUSD>
        <pctVal>0.294489834060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-07-01</maturityDt>
          <couponKind>Variable</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>ARKANSAS DEV FIN AUTH ENVIRONM</name>
        <lei>N/A</lei>
        <title>Arkansas Development Finance Authority</title>
        <cusip>04110FAA3</cusip>
        <identifiers>
          <isin value="US04110FAA30"/>
        </identifiers>
        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4012760.00000000</valUSD>
        <pctVal>0.443116993284</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>Fixed</couponKind>
          <annualizedRt>5.45000000</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 MARCOS TX SPL ASSMNT REVEN</name>
        <lei>N/A</lei>
        <title>City of San Marcos TX</title>
        <cusip>798801AV8</cusip>
        <identifiers>
          <isin value="US798801AV86"/>
        </identifiers>
        <balance>1337000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1157339.56000000</valUSD>
        <pctVal>0.127801519661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>KANSAS CITY MO INDL DEV AUTH E</name>
        <lei>549300QWDXL46XQC8110</lei>
        <title>Kansas City Industrial Development Authority</title>
        <cusip>48502MAB9</cusip>
        <identifiers>
          <isin value="US48502MAB90"/>
        </identifiers>
        <balance>3375000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3252493.24000000</valUSD>
        <pctVal>0.359163026243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-01</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>EDGEWATER EAST CDD FL SPL ASSM</name>
        <lei>N/A</lei>
        <title>Edgewater East Community Development District</title>
        <cusip>280286AD7</cusip>
        <identifiers>
          <isin value="US280286AD73"/>
        </identifiers>
        <balance>1765000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1380758.09000000</valUSD>
        <pctVal>0.152472954598</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APPLE VY MN SENIOR HSG REVENUE</name>
        <lei>549300AMWD6044L1SO95</lei>
        <title>City of Apple Valley MN</title>
        <cusip>03800RAR7</cusip>
        <identifiers>
          <isin value="US03800RAR75"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>999926.90000000</valUSD>
        <pctVal>0.110418914022</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>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-25</ncom:dateSigned>
      <ncom:nameOfApplicant>First Trust Exchange-Traded Fund III</ncom:nameOfApplicant>
      <ncom:signature>Derek Maltbie</ncom:signature>
      <ncom:signerName>Derek Maltbie</ncom:signerName>
      <ncom:title>Treasurer, Chief Financial Officer and Chief Accounting Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
