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      </invstOrSec>
      <invstOrSec>
        <name>South Bayside Waste Management Authority</name>
        <lei>N/A</lei>
        <title>South Bayside Waste Management Authority, Series A</title>
        <cusip>83646ACH4</cusip>
        <identifiers>
          <isin value="US83646ACH41"/>
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        <balance>2435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2510266.34000000</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>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority</title>
        <cusip>13077EPS3</cusip>
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          <isin value="US13077EPS36"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1002805.30000000</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>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>San Francisco Bay Area Rapid Transit District</name>
        <lei>549300Y3C3QUMLE3FY58</lei>
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        <cusip>797661C86</cusip>
        <identifiers>
          <isin value="US797661C868"/>
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        <balance>5750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6187957.95000000</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>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
        <title>CSCDA Community Improvement Authority, Series A-2</title>
        <cusip>126292AW1</cusip>
        <identifiers>
          <isin value="US126292AW10"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>838204.63000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southern California Public Power Authority</name>
        <lei>5493003B5TD5FWUKMD34</lei>
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        <cusip>842469CL0</cusip>
        <identifiers>
          <isin value="US842469CL02"/>
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        <balance>7500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7654257.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>California County Tobacco Securitization Agency, Series A</title>
        <cusip>13016NEX8</cusip>
        <identifiers>
          <isin value="US13016NEX84"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>332582.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-01</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>Territory of Guam</name>
        <lei>N/A</lei>
        <title>Territory of Guam, Series D</title>
        <cusip>40065NBY2</cusip>
        <identifiers>
          <isin value="US40065NBY22"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2012974.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>East County Advanced Water Purification Joint Powers Authority</name>
        <lei>N/A</lei>
        <title>East County Advanced Water Purification Joint Powers Authority, Series A-1</title>
        <cusip>271843AB0</cusip>
        <identifiers>
          <isin value="US271843AB05"/>
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        <balance>2550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2548375.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Community College Financing Authority</name>
        <lei>N/A</lei>
        <title>California Community College Financing Authority</title>
        <cusip>13012RAH2</cusip>
        <identifiers>
          <isin value="US13012RAH21"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>261810.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-01</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>Desert Community College District</name>
        <lei>N/A</lei>
        <title>Desert Community College District</title>
        <cusip>250375MZ2</cusip>
        <identifiers>
          <isin value="US250375MZ29"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1951264.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Modesto Irrigation District</name>
        <lei>S6U6XLZ7IOWYIG8C8H50</lei>
        <title>Modesto Irrigation District, Series A</title>
        <cusip>607767DH0</cusip>
        <identifiers>
          <isin value="US607767DH03"/>
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        <balance>7905000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8393623.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ukiah Unified School District</name>
        <lei>N/A</lei>
        <title>Ukiah Unified School District, Series B</title>
        <cusip>903698EW4</cusip>
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          <isin value="US903698EW42"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2699935.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063DJ33</cusip>
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          <isin value="US13063DJ339"/>
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        <balance>4445000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4441716.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>State of California</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063DF78</cusip>
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          <isin value="US13063DF782"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1000811.70000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063DF86</cusip>
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          <isin value="US13063DF865"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3997045.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Francisco City &amp; County Public Utilities Commission</name>
        <lei>N/A</lei>
        <title>San Francisco City &amp; County Public Utilities Commission, Series A</title>
        <cusip>79768HGG7</cusip>
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          <isin value="US79768HGG74"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9866221.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
        <title>San Juan Unified School District</title>
        <cusip>798306YR1</cusip>
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          <isin value="US798306YR19"/>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1938035.34000000</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>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Series A</title>
        <cusip>13059AAB6</cusip>
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          <isin value="US13059AAB61"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1843753.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-11-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063EMF0</cusip>
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          <isin value="US13063EMF06"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4273433.20000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Romoland School District</name>
        <lei>N/A</lei>
        <title>Romoland School District</title>
        <cusip>776192WR3</cusip>
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          <isin value="US776192WR30"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>379740.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Foothill-Eastern Transportation Corridor Agency</name>
        <lei>N/A</lei>
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        <cusip>345105JH4</cusip>
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          <isin value="US345105JH47"/>
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        <balance>5270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5034849.97000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Metropolitan Water District of Southern California</name>
        <lei>5493003GD0S0P56RLT45</lei>
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        <cusip>59266TTH4</cusip>
        <identifiers>
          <isin value="US59266TTH40"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3667993.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System</name>
        <lei>N/A</lei>
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        <cusip>544525T32</cusip>
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          <isin value="US544525T329"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1002126.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Long Beach Airport System</name>
        <lei>N/A</lei>
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        <cusip>542403CU2</cusip>
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          <isin value="US542403CU22"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>536810.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-01</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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      <invstOrSec>
        <name>Washington Township Health Care District</name>
        <lei>N/A</lei>
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        <cusip>940642GE5</cusip>
        <identifiers>
          <isin value="US940642GE58"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>536242.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L4C8</cusip>
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          <isin value="US74514L4C84"/>
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        <balance>6349793.29000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3897185.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System</name>
        <lei>N/A</lei>
        <title>East Bay Municipal Utility District Water System, Series A</title>
        <cusip>271014L42</cusip>
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          <isin value="US271014L429"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3326722.50000000</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>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of San Francisco</name>
        <lei>N/A</lei>
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        <cusip>79771FFZ5</cusip>
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          <isin value="US79771FFZ53"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5678979.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Sacramento Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
        <title>Sacramento Municipal Utility District, Series M</title>
        <cusip>786005K49</cusip>
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          <isin value="US786005K492"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2135445.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Series A</title>
        <cusip>13048VMH8</cusip>
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          <isin value="US13048VMH86"/>
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        <balance>3065000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3159157.72000000</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>2044-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Redondo Beach Unified School District</name>
        <lei>N/A</lei>
        <title>Redondo Beach Unified School District, Series A</title>
        <cusip>757710VZ8</cusip>
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          <isin value="US757710VZ83"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1763801.03000000</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>2055-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <name>South San Francisco Unified School District</name>
        <lei>N/A</lei>
        <title>South San Francisco Unified School District</title>
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          <isin value="US840058WB35"/>
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        <balance>10000000.00000000</balance>
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          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Foothill-Eastern Transportation Corridor Agency</name>
        <lei>N/A</lei>
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        <cusip>345105HJ2</cusip>
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          <isin value="US345105HJ21"/>
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        <balance>2000000.00000000</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>2031-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000080</annualizedRt>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>City of Los Angeles Department of Airports, Series G</title>
        <cusip>544445C23</cusip>
        <identifiers>
          <isin value="US544445C235"/>
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        <balance>1375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1465741.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>City of Los Angeles Department of Airports, Series F</title>
        <cusip>5444457M5</cusip>
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          <isin value="US5444457M54"/>
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        <balance>9095000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9546255.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Virgin Islands Public Finance Authority</name>
        <lei>N/A</lei>
        <title>Virgin Islands Public Finance Authority, Series A</title>
        <cusip>927676TB2</cusip>
        <identifiers>
          <isin value="US927676TB29"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>VI</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of San Francisco</name>
        <lei>N/A</lei>
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        <cusip>79771FGH4</cusip>
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          <isin value="US79771FGH47"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>821659.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Elk Grove Unified School District</name>
        <lei>N/A</lei>
        <title>Elk Grove Unified School District</title>
        <cusip>287281XV6</cusip>
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          <isin value="US287281XV66"/>
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        <balance>3740000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2585768.68000000</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>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="USM5COS"/>
          <other otherDesc="Future Ticker" value="USM5 Comdty"/>
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        <balance>-490.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-200862.66000000</valUSD>
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        <assetCat>DIR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <ticker value="USM5 Comdty"/>
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            <unrealizedAppr>-200862.66000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Carlsbad Unified School District</name>
        <lei>N/A</lei>
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        <cusip>142665GV4</cusip>
        <identifiers>
          <isin value="US142665GV45"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>769426.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
        <lei>549300544P6FSHU1HB46</lei>
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        <cusip>13067RFT5</cusip>
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          <isin value="US13067RFT59"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>680754.38000000</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>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles County Facilities 2, Inc.</name>
        <lei>N/A</lei>
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        <cusip>54531PAU3</cusip>
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          <isin value="US54531PAU30"/>
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        <balance>7000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7378459.20000000</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>2057-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Series B</title>
        <cusip>13051AAS7</cusip>
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          <isin value="US13051AAS78"/>
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        <balance>1070000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>949327.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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        <cusip>544445C31</cusip>
        <identifiers>
          <isin value="US544445C318"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4242851.20000000</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>2040-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Clovis Unified School District</name>
        <lei>N/A</lei>
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        <cusip>189342Q43</cusip>
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          <isin value="US189342Q432"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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          <isin value="US13080SBY90"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-01</maturityDt>
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      <invstOrSec>
        <name>Dreyfus Government Cash Management - Institutional Shares</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="261991301"/>
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        <balance>19772551.52000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Series F</title>
        <cusip>13013JDD5</cusip>
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          <isin value="US13013JDD54"/>
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        <balance>7205000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7716158.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-10-01</maturityDt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Series A</title>
        <cusip>13048DBP2</cusip>
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          <isin value="US13048DBP24"/>
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        <balance>1300000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
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      <invstOrSec>
        <name>Denair Unified School District</name>
        <lei>N/A</lei>
        <title>Denair Unified School District</title>
        <cusip>248217EJ6</cusip>
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          <isin value="US248217EJ66"/>
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        <balance>4260000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>California State University</name>
        <lei>N/A</lei>
        <title>California State University, Series A</title>
        <cusip>13077DUU4</cusip>
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          <isin value="US13077DUU44"/>
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        <balance>1500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-11-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of San Francisco</name>
        <lei>N/A</lei>
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        <cusip>79771FGD3</cusip>
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          <isin value="US79771FGD33"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1132730.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>City of Los Angeles Department of Airports, Series D</title>
        <cusip>544445GN3</cusip>
        <identifiers>
          <isin value="US544445GN31"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3135045.30000000</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>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US13048DBT46"/>
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        <curCd>USD</curCd>
        <valUSD>1276276.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>South San Francisco Public Facilities Financing Authority</name>
        <lei>N/A</lei>
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        <cusip>840035CL1</cusip>
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          <isin value="US840035CL19"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-06-01</maturityDt>
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      <invstOrSec>
        <name>Peralta Community College District</name>
        <lei>N/A</lei>
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          <isin value="US713575ZC59"/>
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        <balance>7855000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
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          <isin value="US74514L3H80"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Series A</title>
        <cusip>13048RAM9</cusip>
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          <isin value="US13048RAM97"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7517158.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13058TUK4</cusip>
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          <isin value="US13058TUK41"/>
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        <balance>1350000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Needles Unified School District</name>
        <lei>N/A</lei>
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        <cusip>640023EK9</cusip>
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          <isin value="US640023EK99"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1042781.63000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001080</annualizedRt>
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      <invstOrSec>
        <name>Matching Fund Special Purpose Securitization Corp.</name>
        <lei>N/A</lei>
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        <cusip>57665NAF2</cusip>
        <identifiers>
          <isin value="US57665NAF24"/>
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        <balance>3140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3229664.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>VI</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Metropolitan Water District of Southern California</name>
        <lei>5493003GD0S0P56RLT45</lei>
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        <cusip>59266TXN6</cusip>
        <identifiers>
          <isin value="US59266TXN61"/>
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        <balance>2300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2300000.00000000</valUSD>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.00000070</annualizedRt>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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        <cusip>13034A5B2</cusip>
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          <isin value="US13034A5B23"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1990861.60000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Series A</title>
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          <isin value="US13080ST538"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1060171.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>City of Long Beach Airport System</name>
        <lei>N/A</lei>
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        <cusip>542403CT5</cusip>
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          <isin value="US542403CT58"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>808792.28000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Long Beach Airport System</name>
        <lei>N/A</lei>
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          <isin value="US542403CN88"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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          <isin value="US13032US826"/>
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        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13057EJE5</cusip>
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          <isin value="US13057EJE59"/>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>California Educational Facilities Authority, Series A</title>
        <cusip>130179YE8</cusip>
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          <isin value="US130179YE89"/>
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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>2055-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Modesto Irrigation District</name>
        <lei>S6U6XLZ7IOWYIG8C8H50</lei>
        <title>Modesto Irrigation District, Series A</title>
        <cusip>607767AX8</cusip>
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          <isin value="US607767AX89"/>
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        <balance>1690000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1696765.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Los Angeles</name>
        <lei>N/A</lei>
        <title>City of Los Angeles, Series C</title>
        <cusip>53945CMP2</cusip>
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          <isin value="US53945CMP22"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>California County Tobacco Securitization Agency, Series A</title>
        <cusip>13016NES9</cusip>
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          <isin value="US13016NES99"/>
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        <curCd>USD</curCd>
        <valUSD>295499.01000000</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>2034-06-01</maturityDt>
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      <invstOrSec>
        <name>Oakland Unified School District/Alameda County</name>
        <lei>N/A</lei>
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          <isin value="US672325Q837"/>
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        <balance>2240000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Irvine Unified School District</name>
        <lei>549300BNIP4XNVC0X742</lei>
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        <cusip>463612MU2</cusip>
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          <isin value="US463612MU26"/>
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        <balance>545000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>567417.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sacramento Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
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        <cusip>786005K31</cusip>
        <identifiers>
          <isin value="US786005K310"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>803513.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Series A</title>
        <cusip>13058TGK0</cusip>
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          <isin value="US13058TGK07"/>
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        <balance>1485000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1496108.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fort Bragg Unified School District</name>
        <lei>N/A</lei>
        <title>Fort Bragg Unified School District, Series B</title>
        <cusip>347028LL4</cusip>
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          <isin value="US347028LL47"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1046343.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Series A</title>
        <cusip>13049UEW5</cusip>
        <identifiers>
          <isin value="US13049UEW53"/>
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        <balance>2085000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2162261.55000000</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>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oakland Unified School District/Alameda County</name>
        <lei>N/A</lei>
        <title>Oakland Unified School District, Series A</title>
        <cusip>672325R41</cusip>
        <identifiers>
          <isin value="US672325R413"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3238902.90000000</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>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Norman Y Mineta San Jose International Airport SJC</name>
        <lei>N/A</lei>
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        <cusip>798136VR5</cusip>
        <identifiers>
          <isin value="US798136VR59"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2016876.40000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hayward Unified School District</name>
        <lei>N/A</lei>
        <title>Hayward Unified School District, Series A</title>
        <cusip>421295AG1</cusip>
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          <isin value="US421295AG12"/>
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        <balance>845000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California State Public Works Board</name>
        <lei>N/A</lei>
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        <cusip>13068XKZ1</cusip>
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          <isin value="US13068XKZ14"/>
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        <balance>1500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Manteca Unified School District</name>
        <lei>N/A</lei>
        <title>Manteca Unified School District, Series B</title>
        <cusip>564538HR0</cusip>
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          <isin value="US564538HR08"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2113932.20000000</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>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>MSR Energy Authority</name>
        <lei>549300UEMSS1JTK5YB98</lei>
        <title>MSR Energy Authority, Series B</title>
        <cusip>55374SAE0</cusip>
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          <isin value="US55374SAE00"/>
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        <balance>950000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tobacco Securitization Authority of Northern California</name>
        <lei>N/A</lei>
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        <cusip>888794BX1</cusip>
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          <isin value="US888794BX16"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series R-2</title>
        <cusip>797355Q56</cusip>
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          <isin value="US797355Q560"/>
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        <balance>4360000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Series D</title>
        <cusip>13013JFD3</cusip>
        <identifiers>
          <isin value="US13013JFD37"/>
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        <balance>12550000.00000000</balance>
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        <valUSD>13203895.16000000</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>2055-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000040</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Palm Springs Unified School District</name>
        <lei>549300VO66CCEHGE5291</lei>
        <title>Palm Springs Unified School District, Series B</title>
        <cusip>6966676Y5</cusip>
        <identifiers>
          <isin value="US6966676Y56"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1086353.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063DRA8</cusip>
        <identifiers>
          <isin value="US13063DRA80"/>
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        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3448785.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
        <title>San Diego County Regional Airport Authority, Series B</title>
        <cusip>79739GRB4</cusip>
        <identifiers>
          <isin value="US79739GRB40"/>
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        <balance>3370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3660519.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Riverside Electric</name>
        <lei>N/A</lei>
        <title>City of Riverside, Series A</title>
        <cusip>768874VQ9</cusip>
        <identifiers>
          <isin value="US768874VQ91"/>
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        <balance>550000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>597127.91000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>California Infrastructure &amp; Economic Development Bank, Series B</title>
        <cusip>13035AAS8</cusip>
        <identifiers>
          <isin value="US13035AAS87"/>
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        <balance>350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>352575.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
        <lei>N/A</lei>
        <title>San Diego Public Facilities Financing Authority, Series A</title>
        <cusip>79730ALT3</cusip>
        <identifiers>
          <isin value="US79730ALT33"/>
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        <balance>1525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1645464.17000000</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>2043-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, Series A</title>
        <cusip>13032UA81</cusip>
        <identifiers>
          <isin value="US13032UA816"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4902254.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Municipal Improvement Corp. of Los Angeles</name>
        <lei>549300ZJ0YLTZNSR8F57</lei>
        <title>Municipal Improvement Corp. of Los Angeles, Series A</title>
        <cusip>5445874Y1</cusip>
        <identifiers>
          <isin value="US5445874Y11"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1070569.00000000</valUSD>
        <pctVal>0.085756947072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Clovis Unified School District</name>
        <lei>N/A</lei>
        <title>Clovis Unified School District, Series C</title>
        <cusip>189342T32</cusip>
        <identifiers>
          <isin value="US189342T329"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9400466.00000000</valUSD>
        <pctVal>0.753015700263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>City of Los Angeles Department of Airports, Series G</title>
        <cusip>544445B65</cusip>
        <identifiers>
          <isin value="US544445B658"/>
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        <balance>1750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1902384.40000000</valUSD>
        <pctVal>0.152388756167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Berkeley</name>
        <lei>N/A</lei>
        <title>City of Berkeley</title>
        <cusip>084113YY9</cusip>
        <identifiers>
          <isin value="US084113YY91"/>
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        <balance>1590000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1099137.43000000</valUSD>
        <pctVal>0.088045394934</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
        <title>Los Angeles Unified School District, Series QRR</title>
        <cusip>544647GX2</cusip>
        <identifiers>
          <isin value="US544647GX27"/>
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        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3852483.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oakland Unified School District/Alameda County</name>
        <lei>N/A</lei>
        <title>Oakland Unified School District, Series A</title>
        <cusip>672325Q91</cusip>
        <identifiers>
          <isin value="US672325Q910"/>
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        <balance>1600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1758651.36000000</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>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>California Infrastructure &amp; Economic Development Bank, Series A</title>
        <cusip>13034A5K2</cusip>
        <identifiers>
          <isin value="US13034A5K22"/>
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        <balance>7500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7582522.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Los Angeles Unified School District</name>
        <lei>N/A</lei>
        <title>Los Angeles Unified School District, Series QRR</title>
        <cusip>544647GD6</cusip>
        <identifiers>
          <isin value="US544647GD62"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7939475.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Unified School District</name>
        <lei>N/A</lei>
        <title>Los Angeles Unified School District, Series A</title>
        <cusip>5446465N8</cusip>
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          <isin value="US5446465N82"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1002721.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>California Public Finance Authority, Series A</title>
        <cusip>13057EJD7</cusip>
        <identifiers>
          <isin value="US13057EJD76"/>
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        <balance>1180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1299059.29000000</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>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>California Educational Facilities Authority, Series A</title>
        <cusip>130179YD0</cusip>
        <identifiers>
          <isin value="US130179YD07"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2891012.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles County Public Works Financing Authority</name>
        <lei>N/A</lei>
        <title>Los Angeles County Public Works Financing Authority, Series G</title>
        <cusip>54473EXL3</cusip>
        <identifiers>
          <isin value="US54473EXL37"/>
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        <balance>5965000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6275166.88000000</valUSD>
        <pctVal>0.502666482960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Port of Oakland</name>
        <lei>N/A</lei>
        <title>Port of Oakland, Series H</title>
        <cusip>735000UZ2</cusip>
        <identifiers>
          <isin value="US735000UZ22"/>
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        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5357.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Mateo Foster City School District</name>
        <lei>N/A</lei>
        <title>San Mateo Foster City School District, Series B</title>
        <cusip>799055TT5</cusip>
        <identifiers>
          <isin value="US799055TT56"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1094216.40000000</valUSD>
        <pctVal>0.087651200343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Virgin Islands Public Finance Authority</name>
        <lei>N/A</lei>
        <title>Virgin Islands Public Finance Authority, Series A</title>
        <cusip>927676RP3</cusip>
        <identifiers>
          <isin value="US927676RP33"/>
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        <balance>1050000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1014918.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>VI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority</title>
        <cusip>13058TLU2</cusip>
        <identifiers>
          <isin value="US13058TLU24"/>
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        <balance>650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>650728.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>Puerto Rico Electric Power Authority, Series UU</title>
        <cusip>74526QLW0</cusip>
        <identifiers>
          <isin value="US74526QLW05"/>
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        <balance>460000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>449983.45000000</valUSD>
        <pctVal>0.036045511223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco City &amp; County Airport Commission, Series A</title>
        <cusip>79766DWR6</cusip>
        <identifiers>
          <isin value="US79766DWR69"/>
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        <balance>1715000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1779669.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sacramento City Unified School District</name>
        <lei>N/A</lei>
        <title>Sacramento City Unified School District, Series A</title>
        <cusip>785870E93</cusip>
        <identifiers>
          <isin value="US785870E931"/>
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        <balance>4500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4755930.75000000</valUSD>
        <pctVal>0.380969467270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>California County Tobacco Securitization Agency, Series A</title>
        <cusip>13016NEV2</cusip>
        <identifiers>
          <isin value="US13016NEV29"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>264517.50000000</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>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Grossmont Healthcare District</name>
        <lei>N/A</lei>
        <title>Grossmont Healthcare District, Series F</title>
        <cusip>399223DR4</cusip>
        <identifiers>
          <isin value="US399223DR45"/>
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        <balance>875000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>915410.83000000</valUSD>
        <pctVal>0.073328144283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hastings Campus Housing Finance Authority</name>
        <lei>N/A</lei>
        <title>Hastings Campus Housing Finance Authority, Series A</title>
        <cusip>418338AB5</cusip>
        <identifiers>
          <isin value="US418338AB53"/>
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        <balance>7000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6245400.00000000</valUSD>
        <pctVal>0.500282034361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Montebello Unified School District</name>
        <lei>N/A</lei>
        <title>Montebello Unified School District, Series B</title>
        <cusip>612289US5</cusip>
        <identifiers>
          <isin value="US612289US57"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1586720.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tracy Community Facilities District/CA</name>
        <lei>N/A</lei>
        <title>Tracy Community Facilities District</title>
        <cusip>892376UA0</cusip>
        <identifiers>
          <isin value="US892376UA00"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1053984.10000000</valUSD>
        <pctVal>0.084428428880</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Series A</title>
        <cusip>13080SM50</cusip>
        <identifiers>
          <isin value="US13080SM509"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1033604.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series A-3</title>
        <cusip>797356JN3</cusip>
        <identifiers>
          <isin value="US797356JN39"/>
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        <balance>2665000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2789433.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>San Joaquin Hills Transportation Corridor Agency</name>
        <lei>N/A</lei>
        <title>San Joaquin Hills Transportation Corridor Agency, Series A</title>
        <cusip>798111GU8</cusip>
        <identifiers>
          <isin value="US798111GU86"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1009577.10000000</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>2035-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Statewide Financing Authority</name>
        <lei>N/A</lei>
        <title>California Statewide Financing Authority, Series A</title>
        <cusip>130923BH7</cusip>
        <identifiers>
          <isin value="US130923BH74"/>
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        <balance>1230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1257693.82000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>California Infrastructure &amp; Economic Development Bank</title>
        <cusip>13034A2N9</cusip>
        <identifiers>
          <isin value="US13034A2N97"/>
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        <balance>5250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5083389.68000000</valUSD>
        <pctVal>0.407200264284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Washington Township Health Care District</name>
        <lei>N/A</lei>
        <title>Washington Township Health Care District, Series B</title>
        <cusip>940642FZ9</cusip>
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          <isin value="US940642FZ96"/>
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        <balance>880000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>962050.06000000</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>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System</name>
        <lei>N/A</lei>
        <title>Los Angeles Department of Water &amp; Power Water System, Series B</title>
        <cusip>544525C97</cusip>
        <identifiers>
          <isin value="US544525C978"/>
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        <balance>1575000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1579662.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Territory of Guam</name>
        <lei>N/A</lei>
        <title>Territory of Guam, Series D</title>
        <cusip>40065NCE5</cusip>
        <identifiers>
          <isin value="US40065NCE58"/>
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        <balance>2630000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2640779.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of San Francisco</name>
        <lei>N/A</lei>
        <title>City of San Francisco, Series A</title>
        <cusip>79771FGG6</cusip>
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          <isin value="US79771FGG63"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1103144.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3T2</cusip>
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          <isin value="US74514L3T29"/>
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        <balance>4518200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2705272.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority</title>
        <cusip>13032UMJ4</cusip>
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          <isin value="US13032UMJ42"/>
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        <balance>6500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6533679.10000000</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>2047-02-01</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>Washington Township Health Care District</name>
        <lei>N/A</lei>
        <title>Washington Township Health Care District, Series A</title>
        <cusip>940204GX2</cusip>
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          <isin value="US940204GX22"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>316254.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
        <lei>549300544P6FSHU1HB46</lei>
        <title>California Enterprise Development Authority, Series A</title>
        <cusip>13067RFS7</cusip>
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          <isin value="US13067RFS76"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3332129.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ceres Unified School District</name>
        <lei>N/A</lei>
        <title>Ceres Unified School District</title>
        <cusip>156753PM1</cusip>
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          <isin value="US156753PM14"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>298195.30000000</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>2037-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority</title>
        <cusip>13078RHG8</cusip>
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          <isin value="US13078RHG83"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3507983.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of San Mateo</name>
        <lei>N/A</lei>
        <title>City of San Mateo, Series 1</title>
        <cusip>79901PCY2</cusip>
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          <isin value="US79901PCY25"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4208246.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
        <lei>N/A</lei>
        <title>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority, Series A</title>
        <cusip>745160SJ1</cusip>
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          <isin value="US745160SJ13"/>
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        <balance>16295000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15424887.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California State Public Works Board</name>
        <lei>N/A</lei>
        <title>California State Public Works Board, Series C</title>
        <cusip>13068L4X0</cusip>
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          <isin value="US13068L4X07"/>
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        <balance>3735000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3862670.14000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Long Beach Airport System</name>
        <lei>N/A</lei>
        <title>City of Long Beach Airport System, Series A</title>
        <cusip>542403CP3</cusip>
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          <isin value="US542403CP37"/>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>453324.21000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alum Rock Union Elementary School District</name>
        <lei>N/A</lei>
        <title>Alum Rock Union Elementary School District, Series B</title>
        <cusip>022168TT5</cusip>
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          <isin value="US022168TT57"/>
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        <balance>3575000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3734925.12000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063DXC7</cusip>
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          <isin value="US13063DXC72"/>
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        <balance>4775000.00000000</balance>
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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>2038-11-01</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>Palomar Community College District</name>
        <lei>N/A</lei>
        <title>Palomar Community College District, Series B</title>
        <cusip>697511BX0</cusip>
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          <isin value="US697511BX05"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2362469.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001080</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>Puerto Rico Electric Power Authority, Series XX</title>
        <cusip>74526QVX7</cusip>
        <identifiers>
          <isin value="US74526QVX77"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>557500.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Riverside Electric</name>
        <lei>N/A</lei>
        <title>City of Riverside, Series A</title>
        <cusip>768874VR7</cusip>
        <identifiers>
          <isin value="US768874VR74"/>
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        <balance>515000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>554763.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Guam Power Authority</name>
        <lei>549300IPOV320QCKW060</lei>
        <title>Guam Power Authority, Series A</title>
        <cusip>400653JL6</cusip>
        <identifiers>
          <isin value="US400653JL65"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1010590.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063ECU8</cusip>
        <identifiers>
          <isin value="US13063ECU82"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>272741.05000000</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>2054-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
        <lei>5493001TPOZL3UK8DX25</lei>
        <title>San Francisco City &amp; County Redevelopment Agency Successor Agency, Series B</title>
        <cusip>79770GKA3</cusip>
        <identifiers>
          <isin value="US79770GKA30"/>
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        <balance>1400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1457167.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Children's Trust Fund</name>
        <lei>N/A</lei>
        <title>Children's Trust Fund, Series A</title>
        <cusip>16876QBJ7</cusip>
        <identifiers>
          <isin value="US16876QBJ76"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>276423.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority, Series 4, Class A</title>
        <cusip>63607WBB9</cusip>
        <identifiers>
          <isin value="US63607WBB90"/>
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        <balance>4988838.93000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4757572.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.58270200</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Series A</title>
        <cusip>13059TEE5</cusip>
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          <isin value="US13059TEE55"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501545.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>California Public Finance Authority, Series A</title>
        <cusip>13057EDH4</cusip>
        <identifiers>
          <isin value="US13057EDH45"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1030171.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California State University</name>
        <lei>N/A</lei>
        <title>California State University, Series A</title>
        <cusip>13077DUT7</cusip>
        <identifiers>
          <isin value="US13077DUT70"/>
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        <balance>11000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12005196.50000000</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>2055-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
        <title>CSCDA Community Improvement Authority, Series A</title>
        <cusip>126292BD2</cusip>
        <identifiers>
          <isin value="US126292BD20"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1584407.80000000</valUSD>
        <pctVal>0.126917532494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Palm Springs Unified School District</name>
        <lei>549300VO66CCEHGE5291</lei>
        <title>Palm Springs Unified School District, Series B</title>
        <cusip>6966676X7</cusip>
        <identifiers>
          <isin value="US6966676X73"/>
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        <balance>1630000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1779668.88000000</valUSD>
        <pctVal>0.142558742078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Washington Township Health Care District</name>
        <lei>N/A</lei>
        <title>Washington Township Health Care District, Series B</title>
        <cusip>940642FV8</cusip>
        <identifiers>
          <isin value="US940642FV82"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>556467.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, Series A</title>
        <cusip>13032UU63</cusip>
        <identifiers>
          <isin value="US13032UU632"/>
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        <balance>1805000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1846542.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mountain View Shoreline Regional Park Community</name>
        <lei>N/A</lei>
        <title>Mountain View Shoreline Regional Park Community, Series A</title>
        <cusip>624410HE9</cusip>
        <identifiers>
          <isin value="US624410HE99"/>
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        <balance>1645000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1708224.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063BJC7</cusip>
        <identifiers>
          <isin value="US13063BJC72"/>
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        <balance>5760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6999446.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.60000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority</title>
        <cusip>13058TSG6</cusip>
        <identifiers>
          <isin value="US13058TSG66"/>
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        <balance>525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>535131.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority</title>
        <cusip>13058TMA5</cusip>
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          <isin value="US13058TMA50"/>
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        <balance>1695000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1624631.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Norman Y Mineta San Jose International Airport SJC</name>
        <lei>N/A</lei>
        <title>Norman Y Mineta San Jose International Airport SJC, Series A</title>
        <cusip>798136XA0</cusip>
        <identifiers>
          <isin value="US798136XA07"/>
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        <balance>1855000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1954924.58000000</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>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Glendale Community College District</name>
        <lei>N/A</lei>
        <title>Glendale Community College District, Series B</title>
        <cusip>378394HZ6</cusip>
        <identifiers>
          <isin value="US378394HZ63"/>
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        <balance>4500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3328689.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Burbank-Glendale-Pasadena Airport Authority Brick Campaign</name>
        <lei>N/A</lei>
        <title>Burbank-Glendale-Pasadena Airport Authority Brick Campaign, Series B</title>
        <cusip>120827ED8</cusip>
        <identifiers>
          <isin value="US120827ED81"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4114917.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Grossmont Healthcare District</name>
        <lei>N/A</lei>
        <title>Grossmont Healthcare District, Series F</title>
        <cusip>399223DQ6</cusip>
        <identifiers>
          <isin value="US399223DQ61"/>
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        <balance>895000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>918135.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Unified School District</name>
        <lei>N/A</lei>
        <title>San Diego Unified School District, Series F-2</title>
        <cusip>797356FQ0</cusip>
        <identifiers>
          <isin value="US797356FQ06"/>
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        <balance>3020000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3280798.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cabrillo Unified School District</name>
        <lei>N/A</lei>
        <title>Cabrillo Unified School District, Series B</title>
        <cusip>127127MD7</cusip>
        <identifiers>
          <isin value="US127127MD75"/>
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        <balance>3150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3214096.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Community College Financing Authority</name>
        <lei>N/A</lei>
        <title>California Community College Financing Authority</title>
        <cusip>13012RAJ8</cusip>
        <identifiers>
          <isin value="US13012RAJ86"/>
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        <balance>1470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1537184.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Santa Clara Unified School District</name>
        <lei>N/A</lei>
        <title>Santa Clara Unified School District</title>
        <cusip>801495Z96</cusip>
        <identifiers>
          <isin value="US801495Z965"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4109287.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Series C-1</title>
        <cusip>13078YVU6</cusip>
        <identifiers>
          <isin value="US13078YVU62"/>
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        <balance>3175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3277804.91000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alum Rock Union Elementary School District</name>
        <lei>N/A</lei>
        <title>Alum Rock Union Elementary School District, Series B</title>
        <cusip>022168TU2</cusip>
        <identifiers>
          <isin value="US022168TU21"/>
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        <balance>2360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2508774.40000000</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>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Los Banos Unified School District</name>
        <lei>N/A</lei>
        <title>Los Banos Unified School District</title>
        <cusip>545438GP2</cusip>
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          <isin value="US545438GP27"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2681812.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Golden State Tobacco Securitization Corp., Series A-1</title>
        <cusip>38122ND90</cusip>
        <identifiers>
          <isin value="US38122ND906"/>
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        <balance>7165000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7176956.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>California Educational Facilities Authority, Series A</title>
        <cusip>130179XN9</cusip>
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          <isin value="US130179XN97"/>
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        <balance>2750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2562135.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Series A</title>
        <cusip>130493CL1</cusip>
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          <isin value="US130493CL10"/>
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        <balance>6380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6451926.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Series A</title>
        <cusip>13058TEK2</cusip>
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          <isin value="US13058TEK25"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>726726.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Palm Desert</name>
        <lei>N/A</lei>
        <title>City of Palm Desert</title>
        <cusip>696627ER5</cusip>
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          <isin value="US696627ER52"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chaffey Community College District</name>
        <lei>N/A</lei>
        <title>Chaffey Community College District, Series B-1</title>
        <cusip>157432LU7</cusip>
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          <isin value="US157432LU72"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7678609.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Community Housing Agency</name>
        <lei>N/A</lei>
        <title>California Community Housing Agency, Series A-1</title>
        <cusip>13013FAU8</cusip>
        <identifiers>
          <isin value="US13013FAU84"/>
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        <balance>2700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1858086.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Peralta Community College District</name>
        <lei>N/A</lei>
        <title>Peralta Community College District</title>
        <cusip>713575ZF8</cusip>
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          <isin value="US713575ZF80"/>
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        <balance>1925000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2075778.90000000</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>2029-08-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>City of San Francisco Public Utilities Commission Water</name>
        <lei>N/A</lei>
        <title>City of San Francisco, Series B</title>
        <cusip>79771FDP9</cusip>
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          <isin value="US79771FDP99"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2635302.25000000</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>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>California County Tobacco Securitization Agency, Series A</title>
        <cusip>13016NEW0</cusip>
        <identifiers>
          <isin value="US13016NEW02"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>263081.28000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13058THM5</cusip>
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          <isin value="US13058THM53"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>540453.96000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
        <lei>N/A</lei>
        <title>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority, Series B</title>
        <cusip>745160TF8</cusip>
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          <isin value="US745160TF81"/>
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        <balance>1330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1360447.16000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, Series A</title>
        <cusip>13033LS65</cusip>
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          <isin value="US13033LS658"/>
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        <balance>3780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3679956.63000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mount San Antonio Community College District</name>
        <lei>N/A</lei>
        <title>Mount San Antonio Community College District, Series A</title>
        <cusip>623040KG6</cusip>
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          <isin value="US623040KG68"/>
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        <balance>305000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>321912.77000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Oxnard Wastewater</name>
        <lei>N/A</lei>
        <title>City of Oxnard Wastewater</title>
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          <isin value="US692051AM71"/>
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        <balance>1340000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1414008.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alum Rock Union Elementary School District</name>
        <lei>N/A</lei>
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        <cusip>022168TX6</cusip>
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          <isin value="US022168TX69"/>
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        <balance>2240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2485353.92000000</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>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Bernardino Community College District</name>
        <lei>549300Y4FPTEP3EQZ007</lei>
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          <isin value="US796720QZ60"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-01</maturityDt>
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      <invstOrSec>
        <name>Southern California Public Power Authority</name>
        <lei>5493003B5TD5FWUKMD34</lei>
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          <isin value="US842471AZ79"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-11-01</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <cusip>13013JEP7</cusip>
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          <isin value="US13013JEP75"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Chaffey Joint Union High School District</name>
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          <isin value="US157411RJ01"/>
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        <balance>3500000.00000000</balance>
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        <name>City of Los Angeles</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax</name>
        <lei>N/A</lei>
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        <cusip>54466HLT1</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-06-01</maturityDt>
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      <invstOrSec>
        <name>Peninsula Corridor Joint Powers Board</name>
        <lei>549300EWZ3063STMF882</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <cusip>13080SSC9</cusip>
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          <isin value="US13080SSC97"/>
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        <valUSD>1828194.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Del Mar Race Track Authority</name>
        <lei>N/A</lei>
        <title>Del Mar Race Track Authority</title>
        <cusip>245122BR6</cusip>
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          <isin value="US245122BR69"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1002887.70000000</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>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Series A</title>
        <cusip>13058TUL2</cusip>
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          <isin value="US13058TUL24"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1372218.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kern Community College District</name>
        <lei>N/A</lei>
        <title>Kern Community College District, Series C</title>
        <cusip>492244FX1</cusip>
        <identifiers>
          <isin value="US492244FX19"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3892915.00000000</valUSD>
        <pctVal>0.311838382777</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Series A</title>
        <cusip>13048VVB1</cusip>
        <identifiers>
          <isin value="US13048VVB16"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>934640.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Jose Evergreen Community College District</name>
        <lei>5493006H31JIFYW6Z091</lei>
        <title>San Jose Evergreen Community College District, Series C</title>
        <cusip>798189TB2</cusip>
        <identifiers>
          <isin value="US798189TB24"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3291213.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>East Bay Municipal Utility District Water System</name>
        <lei>N/A</lei>
        <title>East Bay Municipal Utility District Water System, Series A</title>
        <cusip>271014Q62</cusip>
        <identifiers>
          <isin value="US271014Q626"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5289528.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rio Hondo Community College District</name>
        <lei>N/A</lei>
        <title>Rio Hondo Community College District, Series A</title>
        <cusip>767121FL5</cusip>
        <identifiers>
          <isin value="US767121FL57"/>
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        <balance>2750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2685683.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>City of Los Angeles Department of Airports, Series B</title>
        <cusip>544445FE4</cusip>
        <identifiers>
          <isin value="US544445FE41"/>
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        <balance>4625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4734754.49000000</valUSD>
        <pctVal>0.379273162400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chabot-Las Positas Community College District</name>
        <lei>N/A</lei>
        <title>Chabot-Las Positas Community College District, Series C</title>
        <cusip>15722TKU4</cusip>
        <identifiers>
          <isin value="US15722TKU42"/>
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        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1345628.88000000</valUSD>
        <pctVal>0.107790366282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico, Series A-1</title>
        <cusip>74514L3L9</cusip>
        <identifiers>
          <isin value="US74514L3L92"/>
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        <balance>3350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3121320.96000000</valUSD>
        <pctVal>0.250030550447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sacramento City Unified School District/CA</name>
        <lei>N/A</lei>
        <title>Sacramento City Unified School District, Series A</title>
        <cusip>785870E51</cusip>
        <identifiers>
          <isin value="US785870E519"/>
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        <balance>1960000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2069856.43000000</valUSD>
        <pctVal>0.165803949408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power</name>
        <lei>549300S8NXV6YU61GG95</lei>
        <title>Los Angeles Department of Water &amp; Power, Series B</title>
        <cusip>544532HB3</cusip>
        <identifiers>
          <isin value="US544532HB38"/>
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        <balance>8055000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8167285.09000000</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>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Washington Township Health Care District</name>
        <lei>N/A</lei>
        <title>Washington Township Health Care District, Series B</title>
        <cusip>940204EZ9</cusip>
        <identifiers>
          <isin value="US940204EZ97"/>
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        <balance>1380000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1267232.89000000</valUSD>
        <pctVal>0.101510527463</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Victorville Electric</name>
        <lei>N/A</lei>
        <title>City of Victorville Electric, Series A</title>
        <cusip>92642CAS3</cusip>
        <identifiers>
          <isin value="US92642CAS35"/>
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        <balance>1115000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1198412.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oklahoma Turnpike Authority</name>
        <lei>549300J83EP2PBDYH615</lei>
        <title>Oklahoma Turnpike Authority</title>
        <cusip>679111D27</cusip>
        <identifiers>
          <isin value="US679111D279"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5285642.50000000</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>2053-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>California County Tobacco Securitization Agency, Series A</title>
        <cusip>13016NEZ3</cusip>
        <identifiers>
          <isin value="US13016NEZ33"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2161570.50000000</valUSD>
        <pctVal>0.173150620801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alameda Unified School District-Alameda County</name>
        <lei>N/A</lei>
        <title>Alameda Unified School District-Alameda County, Series B</title>
        <cusip>010824NE6</cusip>
        <identifiers>
          <isin value="US010824NE69"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2102345.60000000</valUSD>
        <pctVal>0.168406464549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>California Public Finance Authority, Series A</title>
        <cusip>13057EJJ4</cusip>
        <identifiers>
          <isin value="US13057EJJ47"/>
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        <balance>1220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1295485.06000000</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>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority</title>
        <cusip>13058TLT5</cusip>
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        <curCd>USD</curCd>
        <valUSD>475587.24000000</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L4F1</cusip>
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          <isin value="US74514L4F16"/>
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        <balance>4516637.77000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2043778.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Ojai Unified School District</name>
        <lei>N/A</lei>
        <title>Ojai Unified School District, Series B</title>
        <cusip>678093SE6</cusip>
        <identifiers>
          <isin value="US678093SE62"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1884692.60000000</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>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax</name>
        <lei>N/A</lei>
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          <isin value="US74529JQH13"/>
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        <balance>5390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1279631.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Etiwanda School District</name>
        <lei>N/A</lei>
        <title>Etiwanda School District, Series C</title>
        <cusip>297667DE4</cusip>
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          <isin value="US297667DE49"/>
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        <balance>5675000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6030094.97000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kern Community College District</name>
        <lei>N/A</lei>
        <title>Kern Community College District, Series D</title>
        <cusip>492244GS1</cusip>
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          <isin value="US492244GS15"/>
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        <balance>2200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2412000.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Rafael City High School District</name>
        <lei>N/A</lei>
        <title>San Rafael City High School District, Series A</title>
        <cusip>799289NP4</cusip>
        <identifiers>
          <isin value="US799289NP47"/>
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        <balance>4250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4454453.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ravenswood City School District</name>
        <lei>N/A</lei>
        <title>Ravenswood City School District</title>
        <cusip>754405JC3</cusip>
        <identifiers>
          <isin value="US754405JC34"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3670339.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Inglewood Unified School District</name>
        <lei>N/A</lei>
        <title>Inglewood Unified School District, Series B</title>
        <cusip>457110PD0</cusip>
        <identifiers>
          <isin value="US457110PD07"/>
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        <balance>2300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2614635.63000000</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>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chaffey Joint Union High School District</name>
        <lei>N/A</lei>
        <title>Chaffey Joint Union High School District, Series H</title>
        <cusip>157411WG0</cusip>
        <identifiers>
          <isin value="US157411WG07"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3182916.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sacramento Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
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          <isin value="US786005C556"/>
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        <balance>4340000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4633270.29000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ocean View School District</name>
        <lei>N/A</lei>
        <title>Ocean View School District, Series C</title>
        <cusip>675158SQ3</cusip>
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          <isin value="US675158SQ33"/>
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        <balance>3040000.00000000</balance>
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        <valUSD>2310871.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Pollution Control Financing Authority</name>
        <lei>N/A</lei>
        <title>California Pollution Control Financing Authority, Series A-2</title>
        <cusip>130536RL1</cusip>
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          <isin value="US130536RL12"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7502179.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.25000160</annualizedRt>
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      <invstOrSec>
        <name>Guam Power Authority</name>
        <lei>549300IPOV320QCKW060</lei>
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        <cusip>400653HY0</cusip>
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          <isin value="US400653HY05"/>
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        <balance>1230000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>GU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Alhambra Unified School District</name>
        <lei>N/A</lei>
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        <cusip>016059KY2</cusip>
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          <isin value="US016059KY20"/>
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        <balance>3000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-08-01</maturityDt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Series A</title>
        <cusip>13048VMJ4</cusip>
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          <isin value="US13048VMJ43"/>
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        <balance>4440000.00000000</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>2049-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp., Series A</title>
        <cusip>650116HT6</cusip>
        <identifiers>
          <isin value="US650116HT60"/>
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        <balance>14500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14733135.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Matching Fund Special Purpose Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Matching Fund Special Purpose Securitization Corp., Series A</title>
        <cusip>57665NAE5</cusip>
        <identifiers>
          <isin value="US57665NAE58"/>
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        <balance>3140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3239550.87000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>VI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Riverside</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-30</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
        <lei>N/A</lei>
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          <isin value="US745160SH56"/>
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        <balance>8000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8138497.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US542433YZ41"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hayward Unified School District</name>
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          <isin value="US421295AJ50"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1161299.48000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington Township Health Care District</name>
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        <cusip>940204GW4</cusip>
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          <isin value="US940204GW49"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>294989.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
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          <isin value="US74529JRL16"/>
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        <balance>4707000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4344952.62000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.78400000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Guam Government Waterworks Authority</name>
        <lei>N/A</lei>
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        <cusip>40065FDF8</cusip>
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          <isin value="US40065FDF80"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2477999.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>13048DBU1</cusip>
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          <isin value="US13048DBU19"/>
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        <balance>1325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1304991.18000000</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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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority</title>
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          <isin value="US13080SAT15"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1000585.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Stockton Public Financing Authority</name>
        <lei>N/A</lei>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1567318.05000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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        <cusip>13034A6A3</cusip>
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          <isin value="US13034A6A31"/>
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        <balance>4500000.00000000</balance>
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        <valUSD>4432221.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-01</maturityDt>
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          <annualizedRt>5.88900000</annualizedRt>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>Monterey Peninsula Community College District</name>
        <lei>549300C8NLDKBLGMK366</lei>
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        <cusip>612574FN8</cusip>
        <identifiers>
          <isin value="US612574FN89"/>
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        <balance>475000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Series B-1</title>
        <cusip>13013JAP1</cusip>
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          <isin value="US13013JAP12"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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          <isin value="US79766DWW54"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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        <cusip>13034A5C0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-01</maturityDt>
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      <invstOrSec>
        <name>California Community College Financing Authority</name>
        <lei>N/A</lei>
        <title>California Community College Financing Authority</title>
        <cusip>13012RAG4</cusip>
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          <isin value="US13012RAG48"/>
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        <balance>280000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-01</maturityDt>
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      <invstOrSec>
        <name>Oxnard Union High School District</name>
        <lei>N/A</lei>
        <title>Oxnard Union High School District, Series C</title>
        <cusip>692039TR1</cusip>
        <identifiers>
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        <name>Clovis Unified School District</name>
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        <name>Alameda Corridor Transportation Authority</name>
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        <name>Kern Community College District</name>
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        <name>City of Oxnard Wastewater</name>
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        <name>California Health Facilities Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California School Finance Authority</name>
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        <name>Santa Clarita Community College District</name>
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        <name>University of California</name>
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        <name>County of Sacramento</name>
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        <name>Rio Hondo Community College District</name>
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        <name>M-S-R Energy Authority</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Romoland School District</name>
        <lei>N/A</lei>
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          <isin value="US776192WS13"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of South San Francisco</name>
        <lei>N/A</lei>
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          <isin value="US840000AP83"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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          <isin value="US13032UU483"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>California Municipal Finance Authority</name>
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          <isin value="US130483FW57"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13032UM704"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-15</maturityDt>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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          <isin value="US544445QT90"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>California Infrastructure &amp; Economic Development Bank</title>
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          <isin value="US13034A2H20"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Rialto</name>
        <lei>N/A</lei>
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          <isin value="US762485EG15"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>City of San Francisco Public Utilities Commission Water</name>
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          <isin value="US79771FDN42"/>
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        <balance>3945000.00000000</balance>
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        <valUSD>4199463.55000000</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>2048-11-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>California State Public Works Board</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>East Bay Municipal Utility District Water System</name>
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          <maturityDt>2038-06-01</maturityDt>
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        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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        <name>Washington Township Health Care District</name>
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        <name>College of the Sequoias Visalia Area Improvement District No. 2</name>
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        <name>California School Finance Authority</name>
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        <name>Bay Area Toll Authority</name>
        <lei>5493001FUZGUQMIP5D78</lei>
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      <invstOrSec>
        <name>Ontario International Airport Authority</name>
        <lei>N/A</lei>
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        <balance>1000000.00000000</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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        <cusip>13034AY61</cusip>
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          <isin value="US13034AY616"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5264957.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US798306YP52"/>
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        <curCd>USD</curCd>
        <valUSD>1628791.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Series A</title>
        <cusip>13049YEQ0</cusip>
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          <isin value="US13049YEQ08"/>
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        <curCd>USD</curCd>
        <valUSD>925582.70000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Santa Margarita-Dana Point Authority</name>
        <lei>N/A</lei>
        <title>Santa Margarita-Dana Point Authority</title>
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          <isin value="US802248JZ84"/>
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        <balance>2025000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2036652.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
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        <cusip>74529JQG3</cusip>
        <identifiers>
          <isin value="US74529JQG30"/>
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        <balance>12530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4044766.70000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Series B</title>
        <cusip>13051AAT5</cusip>
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          <isin value="US13051AAT51"/>
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        <balance>3150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2664084.78000000</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>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Washington Township Health Care District</name>
        <lei>N/A</lei>
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        <cusip>940642GF2</cusip>
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          <isin value="US940642GF24"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2139640.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alhambra Unified School District</name>
        <lei>N/A</lei>
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        <cusip>016059KX4</cusip>
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          <isin value="US016059KX47"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2010689.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Series E-2</title>
        <cusip>13013JDC7</cusip>
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          <isin value="US13013JDC71"/>
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        <balance>4250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4255088.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-02-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.57109940</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp., Series A-2</title>
        <cusip>74529JRH0</cusip>
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          <isin value="US74529JRH04"/>
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        <balance>4659000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
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          <annualizedRt>4.32900000</annualizedRt>
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        <name>County of Sacramento</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2049-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, Series A</title>
        <cusip>13032UE38</cusip>
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          <isin value="US13032UE388"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-08-15</maturityDt>
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        <name>Stockton Unified School District</name>
        <lei>N/A</lei>
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          <maturityDt>2027-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Grossmont Healthcare District</name>
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          <isin value="US399223DU73"/>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13050RAA0</cusip>
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          <isin value="US13050RAA05"/>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
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          <isin value="US74529JPX71"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sacramento Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
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          <isin value="US786005K567"/>
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        <balance>2000000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco City &amp; County Airport Comm-San Francisco International Airport, Series A</title>
        <cusip>79766DWV7</cusip>
        <identifiers>
          <isin value="US79766DWV71"/>
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        <curCd>USD</curCd>
        <valUSD>12409107.20000000</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>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-2B</title>
        <cusip>74529JRR8</cusip>
        <identifiers>
          <isin value="US74529JRR85"/>
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        <balance>1871000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1768655.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>San Diego County Water Authority</name>
        <lei>549300Y0QN5OFKA1G520</lei>
        <title>San Diego County Water Authority, Series A</title>
        <cusip>79741TBP8</cusip>
        <identifiers>
          <isin value="US79741TBP84"/>
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        <balance>2065000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2163344.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Inglewood Unified School District</name>
        <lei>N/A</lei>
        <title>Inglewood Unified School District, Series B</title>
        <cusip>457110NZ3</cusip>
        <identifiers>
          <isin value="US457110NZ37"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1122306.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ontario Montclair School District</name>
        <lei>N/A</lei>
        <title>Ontario Montclair School District, Series C</title>
        <cusip>683119GW5</cusip>
        <identifiers>
          <isin value="US683119GW56"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3228909.30000000</valUSD>
        <pctVal>0.258648815667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Southern California Public Power Authority</name>
        <lei>5493003B5TD5FWUKMD34</lei>
        <title>Southern California Public Power Authority, Series 1</title>
        <cusip>842469CJ5</cusip>
        <identifiers>
          <isin value="US842469CJ55"/>
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        <balance>5855000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6035836.36000000</valUSD>
        <pctVal>0.483495131337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Series D</title>
        <cusip>13078YUY9</cusip>
        <identifiers>
          <isin value="US13078YUY93"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1009401.10000000</valUSD>
        <pctVal>0.080857148588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>San Marcos Unified School District</name>
        <lei>N/A</lei>
        <title>San Marcos Unified School District, Series B</title>
        <cusip>798755DQ4</cusip>
        <identifiers>
          <isin value="US798755DQ45"/>
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        <balance>21090000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6322600.63000000</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>2051-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
        <lei>N/A</lei>
        <title>West Contra Costa Unified School District, Series A-1</title>
        <cusip>9523476L1</cusip>
        <identifiers>
          <isin value="US9523476L18"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1465782.80000000</valUSD>
        <pctVal>0.117415185755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Francisco City &amp; County Airport Commission</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco City &amp; County Airport Commission, Series A</title>
        <cusip>79766DXQ7</cusip>
        <identifiers>
          <isin value="US79766DXQ77"/>
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        <balance>7000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7324877.70000000</valUSD>
        <pctVal>0.586752604669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>California Public Finance Authority, Series A</title>
        <cusip>13057EJC9</cusip>
        <identifiers>
          <isin value="US13057EJC93"/>
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        <balance>1095000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1197043.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</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>
      <invstOrSec>
        <name>Imperial Irrigation District Electric System</name>
        <lei>N/A</lei>
        <title>Imperial Irrigation District Electric System</title>
        <cusip>452650LL6</cusip>
        <identifiers>
          <isin value="US452650LL65"/>
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        <balance>1655000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1725533.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp.</title>
        <cusip>650116HN9</cusip>
        <identifiers>
          <isin value="US650116HN90"/>
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        <balance>1175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1170109.30000000</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>2054-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
        <lei>N/A</lei>
        <title>San Diego Public Facilities Financing Authority, Series A</title>
        <cusip>797299QR8</cusip>
        <identifiers>
          <isin value="US797299QR85"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1644277.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>California Public Finance Authority, Series A</title>
        <cusip>13057EFP4</cusip>
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          <isin value="US13057EFP43"/>
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        <balance>6925000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6499916.49000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Long Beach Airport System</name>
        <lei>N/A</lei>
        <title>City of Long Beach Airport System, Series A</title>
        <cusip>542403CR9</cusip>
        <identifiers>
          <isin value="US542403CR92"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>872916.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Rafael City Elementary School District</name>
        <lei>N/A</lei>
        <title>San Rafael City Elementary School District, Series A</title>
        <cusip>799306RF4</cusip>
        <identifiers>
          <isin value="US799306RF44"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1303555.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Palm Desert</name>
        <lei>N/A</lei>
        <title>City of Palm Desert</title>
        <cusip>696627EQ7</cusip>
        <identifiers>
          <isin value="US696627EQ79"/>
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        <balance>215000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202369.05000000</valUSD>
        <pctVal>0.016210586996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Fullerton Joint Union High School District</name>
        <lei>N/A</lei>
        <title>Fullerton Joint Union High School District, Series A</title>
        <cusip>359796KT5</cusip>
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          <isin value="US359796KT52"/>
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        <balance>3830000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>San Francisco Community College District</name>
        <lei>N/A</lei>
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        <cusip>797683KJ7</cusip>
        <identifiers>
          <isin value="US797683KJ77"/>
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        <balance>2025000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2156226.89000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Peralta Community College District</name>
        <lei>N/A</lei>
        <title>Peralta Community College District</title>
        <cusip>713575ZE1</cusip>
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          <isin value="US713575ZE16"/>
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        <balance>1125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1194904.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Burbank-Glendale-Pasadena Airport Authority Brick Campaign</name>
        <lei>N/A</lei>
        <title>Burbank-Glendale-Pasadena Airport Authority Brick Campaign, Series B</title>
        <cusip>120827EF3</cusip>
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          <isin value="US120827EF30"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6132306.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Guam Power Authority</name>
        <lei>549300IPOV320QCKW060</lei>
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        <cusip>400653JE2</cusip>
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          <isin value="US400653JE23"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1022112.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, Series A</title>
        <cusip>13032UNG9</cusip>
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          <isin value="US13032UNG93"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco City &amp; County Airport Comm-San Francisco International Airport, Series E</title>
        <cusip>79766DSA8</cusip>
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          <isin value="US79766DSA80"/>
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        <balance>3460000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Berkeley</name>
        <lei>N/A</lei>
        <title>City of Berkeley</title>
        <cusip>084113YX1</cusip>
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          <isin value="US084113YX19"/>
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        <balance>1560000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1105916.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System</name>
        <lei>N/A</lei>
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        <cusip>544525L97</cusip>
        <identifiers>
          <isin value="US544525L979"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alum Rock Union Elementary School District</name>
        <lei>N/A</lei>
        <title>Alum Rock Union Elementary School District, Series B</title>
        <cusip>022168TS7</cusip>
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        <balance>3095000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3173381.18000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Oxnard Wastewater</name>
        <lei>N/A</lei>
        <title>City of Oxnard Wastewater</title>
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          <isin value="US692051AR68"/>
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        <balance>2080000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>California County Tobacco Securitization Agency, Series A</title>
        <cusip>13016NEU4</cusip>
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          <isin value="US13016NEU46"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>California Infrastructure &amp; Economic Development Bank</title>
        <cusip>13034AK74</cusip>
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          <isin value="US13034AK748"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2050-07-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sunnyvale School District</name>
        <lei>N/A</lei>
        <title>Sunnyvale School District, Series B</title>
        <cusip>867578WP7</cusip>
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          <isin value="US867578WP74"/>
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          <maturityDt>2048-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Healdsburg Unified School District</name>
        <lei>N/A</lei>
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        <cusip>422154CY8</cusip>
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        <balance>4405000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2037-08-01</maturityDt>
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      <invstOrSec>
        <name>Kern Community College District</name>
        <lei>N/A</lei>
        <title>Kern Community College District, Series D</title>
        <cusip>492244GL6</cusip>
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          <isin value="US492244GL61"/>
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        <balance>700000.00000000</balance>
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        <valUSD>788900.84000000</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>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>M-S-R Energy Authority</name>
        <lei>549300UEMSS1JTK5YB98</lei>
        <title>M-S-R Energy Authority, Series C</title>
        <cusip>55374SAH3</cusip>
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          <isin value="US55374SAH31"/>
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        <balance>5860000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6928382.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Romoland School District</name>
        <lei>N/A</lei>
        <title>Romoland School District</title>
        <cusip>776192VP8</cusip>
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        <name>Los Angeles Department of Water &amp; Power</name>
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          <isin value="US544532NK62"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Peralta Community College District</name>
        <lei>N/A</lei>
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          <isin value="US713575ZD33"/>
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      <invstOrSec>
        <name>Ojai Unified School District</name>
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          <isin value="US678093SD89"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-08-01</maturityDt>
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        <name>Peralta Community College District</name>
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          <isin value="US713575YD42"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-08-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Unified School District</name>
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          <isin value="US797356HR60"/>
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      <invstOrSec>
        <name>Savanna School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13080ST389"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-12-01</maturityDt>
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        <name>California Community Housing Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>Oxnard Financing Authority</name>
        <lei>N/A</lei>
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        <name>River Islands Public Financing Authority</name>
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        <name>Nuveen California AMT-Free Quality Municipal Income Fund</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Joaquin Hills Transportation Corridor Agency</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-01-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>California Infrastructure &amp; Economic Development Bank, Series A-1</title>
        <cusip>13034AW30</cusip>
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          <isin value="US13034AW305"/>
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        <balance>2540000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2278820.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Series A</title>
        <cusip>13058TEG1</cusip>
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          <isin value="US13058TEG13"/>
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        <balance>1080000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1073382.95000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Mateo Foster City School District</name>
        <lei>N/A</lei>
        <title>San Mateo Foster City School District, Series B</title>
        <cusip>799055TU2</cusip>
        <identifiers>
          <isin value="US799055TU20"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1250794.74000000</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>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Series A</title>
        <cusip>13049SBW3</cusip>
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          <isin value="US13049SBW35"/>
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        <balance>1320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1274516.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</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>
      <invstOrSec>
        <name>Port of Oakland</name>
        <lei>N/A</lei>
        <title>Port of Oakland, Series H</title>
        <cusip>735000VK4</cusip>
        <identifiers>
          <isin value="US735000VK44"/>
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        <balance>1895000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1978290.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp., Series A-1</title>
        <cusip>74529JPW9</cusip>
        <identifiers>
          <isin value="US74529JPW98"/>
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        <balance>5866000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5453732.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Joaquin Hills Transportation Corridor Agency</name>
        <lei>N/A</lei>
        <title>San Joaquin Hills Transportation Corridor Agency, Series B</title>
        <cusip>798111GC8</cusip>
        <identifiers>
          <isin value="US798111GC88"/>
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        <balance>3150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3150823.73000000</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>2044-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
        <lei>N/A</lei>
        <title>West Contra Costa Unified School District, Series D</title>
        <cusip>952347RQ7</cusip>
        <identifiers>
          <isin value="US952347RQ70"/>
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        <balance>2850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2728390.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Romoland School District</name>
        <lei>N/A</lei>
        <title>Romoland School District, Class 2</title>
        <cusip>776192WQ5</cusip>
        <identifiers>
          <isin value="US776192WQ56"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>362720.09000000</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>2039-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico, Series A-1</title>
        <cusip>74514L3K1</cusip>
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          <isin value="US74514L3K10"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9556312.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alameda County Transportation Commission</name>
        <lei>N/A</lei>
        <title>Alameda County Transportation Commission, Series BB</title>
        <cusip>011118CD6</cusip>
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          <isin value="US011118CD66"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2639160.00000000</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>2045-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alum Rock Union Elementary School District</name>
        <lei>N/A</lei>
        <title>Alum Rock Union Elementary School District, Series A</title>
        <cusip>022168TN8</cusip>
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          <isin value="US022168TN87"/>
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        <balance>1220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1355184.42000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Inglewood Unified School District</name>
        <lei>N/A</lei>
        <title>Inglewood Unified School District, Series B</title>
        <cusip>457110NY6</cusip>
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          <isin value="US457110NY61"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kern Community College District</name>
        <lei>N/A</lei>
        <title>Kern Community College District, Series D</title>
        <cusip>492244GR3</cusip>
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          <isin value="US492244GR32"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1541503.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Indio Finance Authority</name>
        <lei>N/A</lei>
        <title>Indio Finance Authority, Series A</title>
        <cusip>45571LDP9</cusip>
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          <isin value="US45571LDP94"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1623171.45000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Bay Area Toll Authority</name>
        <lei>5493001FUZGUQMIP5D78</lei>
        <title>Bay Area Toll Authority, Series F-1</title>
        <cusip>072024G22</cusip>
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          <isin value="US072024G221"/>
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        <balance>5465000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Community Housing Agency</name>
        <lei>N/A</lei>
        <title>California Community Housing Agency, Series A-1</title>
        <cusip>13013FAL8</cusip>
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          <isin value="US13013FAL85"/>
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        <balance>6285000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5144006.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-02-01</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>Hayward Unified School District</name>
        <lei>N/A</lei>
        <title>Hayward Unified School District</title>
        <cusip>421294EG0</cusip>
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          <isin value="US421294EG01"/>
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        <balance>6900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6987265.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Washington Township Health Care District</name>
        <lei>N/A</lei>
        <title>Washington Township Health Care District, Series A</title>
        <cusip>940204GU8</cusip>
        <identifiers>
          <isin value="US940204GU82"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>399074.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Long Beach Harbor</name>
        <lei>N/A</lei>
        <title>City of Long Beach Harbor, Series A</title>
        <cusip>542424VT0</cusip>
        <identifiers>
          <isin value="US542424VT01"/>
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        <balance>3475000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3672211.12000000</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>2037-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Mateo Foster City School District</name>
        <lei>N/A</lei>
        <title>San Mateo Foster City School District, Series B</title>
        <cusip>799055TZ1</cusip>
        <identifiers>
          <isin value="US799055TZ17"/>
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        <balance>5500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5237079.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Santa Barbara Unified School District</name>
        <lei>549300PQRSK15XOJN302</lei>
        <title>Santa Barbara Unified School District, Series A</title>
        <cusip>801257LU8</cusip>
        <identifiers>
          <isin value="US801257LU85"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1276154.40000000</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>2036-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.99999840</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco City &amp; County Airport Comm-San Francisco International Airport, Series C</title>
        <cusip>79766DVY2</cusip>
        <identifiers>
          <isin value="US79766DVY20"/>
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        <balance>14300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15169645.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles County Public Works Financing Authority</name>
        <lei>N/A</lei>
        <title>Los Angeles County Public Works Financing Authority, Series H</title>
        <cusip>54473EYK4</cusip>
        <identifiers>
          <isin value="US54473EYK45"/>
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        <balance>23130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25012805.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Series C</title>
        <cusip>13013JCM6</cusip>
        <identifiers>
          <isin value="US13013JCM62"/>
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        <balance>12325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12810868.76000000</valUSD>
        <pctVal>1.026202882952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
        <title>Los Angeles Unified School District, Series A</title>
        <cusip>544647HH6</cusip>
        <identifiers>
          <isin value="US544647HH67"/>
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        <balance>6500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6658202.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Northern California Power Agency</name>
        <lei>549300QYTU4PHD2XHS96</lei>
        <title>Northern California Power Agency, Series B</title>
        <cusip>664845DQ4</cusip>
        <identifiers>
          <isin value="US664845DQ41"/>
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        <balance>5645000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6236239.24000000</valUSD>
        <pctVal>0.499548220090</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.31100000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Series A</title>
        <cusip>13058THK9</cusip>
        <identifiers>
          <isin value="US13058THK97"/>
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        <balance>740000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>722019.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>California Infrastructure &amp; Economic Development Bank, Series A</title>
        <cusip>13034A5D8</cusip>
        <identifiers>
          <isin value="US13034A5D88"/>
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        <balance>9040000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9540242.86000000</valUSD>
        <pctVal>0.764212397332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of San Francisco</name>
        <lei>N/A</lei>
        <title>City of San Francisco, Series A</title>
        <cusip>79771FGL5</cusip>
        <identifiers>
          <isin value="US79771FGL58"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>428545.96000000</valUSD>
        <pctVal>0.034328280764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Kern Community College District</name>
        <lei>N/A</lei>
        <title>Kern Community College District, Series D</title>
        <cusip>492244GQ5</cusip>
        <identifiers>
          <isin value="US492244GQ58"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2212585.80000000</valUSD>
        <pctVal>0.177237154581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Series A</title>
        <cusip>13013JAX4</cusip>
        <identifiers>
          <isin value="US13013JAX46"/>
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        <balance>4400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4401223.20000000</valUSD>
        <pctVal>0.352555944563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Grossmont Healthcare District</name>
        <lei>N/A</lei>
        <title>Grossmont Healthcare District, Series F</title>
        <cusip>399223DV5</cusip>
        <identifiers>
          <isin value="US399223DV56"/>
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        <balance>1800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2058145.92000000</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>2035-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico, Series A-1</title>
        <cusip>74514L3J4</cusip>
        <identifiers>
          <isin value="US74514L3J47"/>
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        <balance>1800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1909641.24000000</valUSD>
        <pctVal>0.152970058674</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063ECR5</cusip>
        <identifiers>
          <isin value="US13063ECR53"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4392662.40000000</valUSD>
        <pctVal>0.351870189537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </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"/>
      <explntrNote note="Country classifications may be different than those used for compliance monitoring purposes." noteItem="C.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>NEW YORK LIFE INVESTMENTS FUNDS TRUST</ncom:nameOfApplicant>
      <ncom:signature>Jack Benintende</ncom:signature>
      <ncom:signerName>Jack Benintende</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
