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      <invstOrSec>
        <name>TARRANT CNTY TX CULTURAL EDU F</name>
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        <name>MARYLAND ST</name>
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      <invstOrSec>
        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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          <isin value="US646136XJ58"/>
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        <name>ALABAMA ST PUBLIC SCH &amp; CLG AU</name>
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        <name>NEW YORK ST THRUWAY AUTH PERSO</name>
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          <isin value="US650028ZZ91"/>
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        <name>SAN FRANCISCO CA BAY AREA RAPI</name>
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        <title>San Francisco Bay Area Rapid Transit District</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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        <name>VIRGINIA ST CLG BLDG AUTH EDUC</name>
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        <title>Virginia College Building Authority</title>
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          <isin value="US92778WNB80"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CALIFORNIA ST</name>
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          <isin value="US13063DCD84"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-11-01</maturityDt>
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      <invstOrSec>
        <name>OHIO ST WTR DEV AUTH WTR POLL</name>
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        <name>CALIFORNIA ST INFRASTRUCTURE &amp;</name>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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          <isin value="US59261AK973"/>
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          <maturityDt>2041-11-15</maturityDt>
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        <name>COLLIN CNTY TX CMNTY CLG DIST</name>
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        <title>Collin County Community College District</title>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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        <name>TENNESSEE ST SCH BOND AUTH</name>
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        <title>North Dakota Housing Finance Agency</title>
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        <name>CALIFORNIA ST DEPT OF WTR RESO</name>
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        <name>UNIV OF CALIFORNIA REVENUES</name>
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        <title>University of California</title>
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      <invstOrSec>
        <name>NORTH CAROLINA ST LTD OBLIG</name>
        <lei>N/A</lei>
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          <isin value="US65829QBE35"/>
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      <invstOrSec>
        <name>ORLANDO FL UTILITIES COMMISSIO</name>
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          <isin value="US686507HY31"/>
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      <invstOrSec>
        <name>MEDFORD OR HOSP FACS AUTH REVE</name>
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          <isin value="US584283GR04"/>
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        <curCd>USD</curCd>
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          <maturityDt>2033-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>CALIFORNIA ST</name>
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          <isin value="US13063D2E75"/>
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        <curCd>USD</curCd>
        <valUSD>58081.36000000</valUSD>
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          <maturityDt>2032-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MET GOVT NASHVILLE &amp; DAVIDSON</name>
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          <isin value="US592112UZ71"/>
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        <valUSD>39473.94000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>HUDSON YARDS INFRASTRUCTURE CO</name>
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          <isin value="US44420RBR03"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>SANTA CLARA CA UNIF SCH DIST</name>
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          <maturityDt>2033-07-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>DALLAS TX</name>
        <lei>N/A</lei>
        <title>City of Dallas TX</title>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47144.06000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>FORSYTH MT POLL CONTROL REVENU</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>DALLAS-FORT WORTH TX INTERNATI</name>
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          <maturityDt>2041-11-01</maturityDt>
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      <invstOrSec>
        <name>UNIV OF UTAH UT REVENUES</name>
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          <isin value="US915183Y849"/>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <name>OMAHA NE PUBLIC PWR DIST ELEC</name>
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        <name>Goldman Sachs Financial Square Treasury Instruments Fund</name>
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        <name>PITTSBURGH &amp; ALLEGHENY CNTY PA</name>
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        <name>ALLEN CNTY OH HOSP FACS REVENU</name>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HONOLULU CITY &amp; CNTY HI</name>
        <lei>N/A</lei>
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          <isin value="US438687BW45"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-09-01</maturityDt>
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      <invstOrSec>
        <name>N TX TOLLWAY AUTH REVENUE</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>North Texas Tollway Authority</title>
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          <isin value="US66285WZX72"/>
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        <curCd>USD</curCd>
        <valUSD>74120.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>MESA AZ UTILITY SYS REVENUE</name>
        <lei>N/A</lei>
        <title>City of Mesa AZ Utility System Revenue</title>
        <cusip>590545N47</cusip>
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          <isin value="US590545N471"/>
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        <valUSD>21531.28000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
        <cusip>59261AQG5</cusip>
        <identifiers>
          <isin value="US59261AQG57"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36620.99000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>State of California</title>
        <cusip>13063DTJ7</cusip>
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          <isin value="US13063DTJ71"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32972.58000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OHIO ST</name>
        <lei>5493005LEB5E170OMX59</lei>
        <title>State of Ohio</title>
        <cusip>677522UW2</cusip>
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          <isin value="US677522UW28"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31228.18000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <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>NEW JERSEY ST TRANSPRTN TRUST</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
        <cusip>646136XM8</cusip>
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          <isin value="US646136XM87"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22148.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>ANAHEIM CA PUBLIC FING AUTH LE</name>
        <lei>N/A</lei>
        <title>Anaheim Public Financing Authority</title>
        <cusip>03255LBS7</cusip>
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          <isin value="US03255LBS79"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40755.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JEA FL WTR &amp; SWR REVENUE</name>
        <lei>N/A</lei>
        <title>JEA Water &amp; Sewer System Revenue</title>
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        <identifiers>
          <isin value="US46613P3T17"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39894.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HURST-EULESS-BEDFORD TX INDEP</name>
        <lei>N/A</lei>
        <title>Hurst-Euless-Bedford Independent School District</title>
        <cusip>447819EK5</cusip>
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          <isin value="US447819EK55"/>
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        <balance>20000.00000000</balance>
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        <valUSD>20786.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MINNESOTA ST</name>
        <lei>N/A</lei>
        <title>State of Minnesota</title>
        <cusip>60412APF4</cusip>
        <identifiers>
          <isin value="US60412APF48"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>42641.70000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <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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        <name>FORSYTH CNTY GA SCH DIST</name>
        <lei>N/A</lei>
        <title>Forsyth County School District</title>
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          <isin value="US346604KY62"/>
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        <valUSD>33033.00000000</valUSD>
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          <maturityDt>2030-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MIDLAND CNTY TX</name>
        <lei>N/A</lei>
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          <isin value="US597494HS58"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>ILLINOIS ST</name>
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        <name>MET GOVT NASHVILLE &amp; DAVIDSONC</name>
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        <name>COLORADO ST HLTH FACS AUTH REV</name>
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        <name>LOWER COLORADO RIVER TX AUTH T</name>
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        <title>Lower Colorado River Authority</title>
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        <invCountry>US</invCountry>
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        <name>CALIFORNIA ST EDUCTNL FACS AUT</name>
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        <title>California Educational Facilities Authority</title>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HOUSTON TX UTILITY SYS REVENUE</name>
        <lei>N/A</lei>
        <title>City of Houston TX Combined Utility System Revenue</title>
        <cusip>44244CSS7</cusip>
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          <isin value="US44244CSS79"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31939.76000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HARRIS CNTY TX TOLL ROAD REVEN</name>
        <lei>N/A</lei>
        <title>County of Harris TX Toll Road Revenue</title>
        <cusip>41423PEN3</cusip>
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          <isin value="US41423PEN33"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29024.77000000</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>2036-08-15</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>NEW YORK CITY NY TRANSITIONAL</name>
        <lei>N/A</lei>
        <title>New York City Transitional Finance Authority Future Tax Secured Revenue</title>
        <cusip>64971XVG0</cusip>
        <identifiers>
          <isin value="US64971XVG05"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32883.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</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>IOWA ST FIN AUTH REVENUE</name>
        <lei>549300NQVL49BTHOW391</lei>
        <title>Iowa Finance Authority</title>
        <cusip>46246K4E9</cusip>
        <identifiers>
          <isin value="US46246K4E96"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31204.44000000</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>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTRL PUGET SOUND WA REGL TRA</name>
        <lei>N/A</lei>
        <title>Central Puget Sound Regional Transit Authority</title>
        <cusip>155048DV0</cusip>
        <identifiers>
          <isin value="US155048DV06"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33592.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HAWAII ST</name>
        <lei>N/A</lei>
        <title>State of Hawaii</title>
        <cusip>419792WQ5</cusip>
        <identifiers>
          <isin value="US419792WQ57"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31402.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-01</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>TEXAS WTR DEV BRD REVENUE</name>
        <lei>N/A</lei>
        <title>Texas Water Development Board</title>
        <cusip>88285ABU1</cusip>
        <identifiers>
          <isin value="US88285ABU16"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45790.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARIZONA BRD OF RGTS UNIV ARIZO</name>
        <lei>N/A</lei>
        <title>Arizona Board of Regents</title>
        <cusip>040484NV5</cusip>
        <identifiers>
          <isin value="US040484NV58"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48709.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</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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      <invstOrSec>
        <name>LOS ANGELES CA UNIF SCH DIST</name>
        <lei>N/A</lei>
        <title>Los Angeles Unified School District/CA</title>
        <cusip>544647BB5</cusip>
        <identifiers>
          <isin value="US544647BB51"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39841.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN MUNI PWR-OHIO INC OH</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
        <title>American Municipal Power Inc</title>
        <cusip>02765UPT5</cusip>
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          <isin value="US02765UPT50"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32559.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLORADO ST HLTH FACS AUTH REV</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority</title>
        <cusip>19648A4M4</cusip>
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          <isin value="US19648A4M48"/>
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        <balance>30000.00000000</balance>
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        <valUSD>30066.70000000</valUSD>
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        <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>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>DIST OF COLUMBIA INCOME TAX SE</name>
        <lei>N/A</lei>
        <title>District of Columbia Income Tax Revenue</title>
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          <isin value="US25477GYF61"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>56841.54000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ILLINOIS ST FIN AUTH REVENUE</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority</title>
        <cusip>45204FGV1</cusip>
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          <isin value="US45204FGV13"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>STHRN CALIFORNIA ST PUBLIC PWR</name>
        <lei>5493003B5TD5FWUKMD34</lei>
        <title>Southern California Public Power Authority</title>
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          <isin value="US842469AK47"/>
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          <maturityDt>2034-07-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CREEK CNTY OK EDUCTNL FACS AUT</name>
        <lei>N/A</lei>
        <title>Creek County Educational Facilities Authority</title>
        <cusip>225472BQ1</cusip>
        <identifiers>
          <isin value="US225472BQ19"/>
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        <balance>80000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLORADO ST BLDG EXCELLENT SCH</name>
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        <title>State of Colorado</title>
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          <isin value="US19668QMA03"/>
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        <balance>40000.00000000</balance>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2039-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HARRIS CNTY TX CULTURAL EDU FA</name>
        <lei>N/A</lei>
        <title>Harris County Cultural Education Facilities Finance Corp</title>
        <cusip>414009SL5</cusip>
        <identifiers>
          <isin value="US414009SL58"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55988.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK CITY NY TRANSITIONAL</name>
        <lei>N/A</lei>
        <title>New York City Transitional Finance Authority Future Tax Secured Revenue</title>
        <cusip>64971XVZ8</cusip>
        <identifiers>
          <isin value="US64971XVZ85"/>
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        <balance>30000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>SHREVEPORT LA WTR &amp; SWR REVENU</name>
        <lei>N/A</lei>
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        <valUSD>20373.08000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CNTY CA PUBLIC WKS</name>
        <lei>N/A</lei>
        <title>Los Angeles County Public Works Financing Authority</title>
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          <isin value="US54473EWF77"/>
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        <curCd>USD</curCd>
        <valUSD>34315.19000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>State of California</title>
        <cusip>13063DTE8</cusip>
        <identifiers>
          <isin value="US13063DTE84"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33182.88000000</valUSD>
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        <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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
        <cusip>59261APJ0</cusip>
        <identifiers>
          <isin value="US59261APJ06"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22911.11000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PORTLAND OR SWR SYS REVENUE</name>
        <lei>N/A</lei>
        <title>City of Portland OR Sewer System Revenue</title>
        <cusip>736742B48</cusip>
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          <isin value="US736742B482"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20606.98000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARIZONA BRD OF RGTS UNIV ARIZO</name>
        <lei>N/A</lei>
        <title>Arizona Board of Regents</title>
        <cusip>040484NU7</cusip>
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          <isin value="US040484NU75"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29423.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CONNECTICUT ST</name>
        <lei>549300PHW5BZHA7BEX81</lei>
        <title>State of Connecticut</title>
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          <isin value="US20772KVN61"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45299.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HONOLULU CITY &amp; CNTY HI</name>
        <lei>N/A</lei>
        <title>City &amp; County of Honolulu HI</title>
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          <isin value="US438687FC45"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31951.74000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SALT VERDE AZ FINANCIAL CORP S</name>
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        <title>Salt Verde Financial Corp</title>
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          <isin value="US79575EAS72"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32583.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK CITY NY TRANSITIONAL</name>
        <lei>N/A</lei>
        <title>New York City Transitional Finance Authority Future Tax Secured Revenue</title>
        <cusip>64971XC30</cusip>
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          <isin value="US64971XC300"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45055.98000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
        <cusip>59261AQK6</cusip>
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          <isin value="US59261AQK69"/>
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        <curCd>USD</curCd>
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          <maturityDt>2036-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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        <name>SAN ANTONIO TX ELEC &amp; GAS REVE</name>
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          <maturityDt>2039-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>AUSTIN TX</name>
        <lei>IW10PQVTU7HKS3JMW253</lei>
        <title>City of Austin TX</title>
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          <isin value="US052397ZR02"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>HARRIS CNTY TX CULTURAL EDU FA</name>
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        <title>Harris County Cultural Education Facilities Finance Corp</title>
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          <isin value="US414009MJ66"/>
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        <name>FLORIDA ST HSG FIN CORP REVENU</name>
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        <title>Florida Housing Finance Corp</title>
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        <name>NEW YORK CITY NY TRANSITIONAL</name>
        <lei>N/A</lei>
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        <name>MASSACHUSETTS ST</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <name>OHIO ST WTR DEV AUTH WTR POLL</name>
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          <isin value="US3733842E56"/>
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        <name>HARRIS CNTY TX</name>
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        <name>CLARK CNTY NV SCH DIST</name>
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        <name>NEW JERSEY ST HLTH CARE FACS F</name>
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          <isin value="US645790MS26"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
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        <name>CENTRL FL EXPRESSWAY AUTH SR L</name>
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          <isin value="US153476DB97"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>NEW YORK CITY NY TRANSITIONAL</name>
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        <name>M-S-R CA ENERGY AUTH GAS REVEN</name>
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      <invstOrSec>
        <name>UNIV OF HOUSTON TX UNIV REVENU</name>
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        <name>MET TRANSPRTN AUTH NY DEDICATE</name>
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          <isin value="US59259N7F44"/>
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          <maturityDt>2033-11-15</maturityDt>
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          <isin value="US544525WB04"/>
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          <maturityDt>2033-07-01</maturityDt>
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        <name>JACKSONVILLE FL TRANSIT REVENU</name>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <name>HUDSON YARDS INFRASTRUCTURE CO</name>
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        <name>NORTH EAST TX REGL MOBILITY AU</name>
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        <name>CARMEL IN REDEV AUTH</name>
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        <name>NEW YORK ST DORM AUTH ST PERSO</name>
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        <name>MIAMI-DADE CNTY FL WTR &amp; SWR R</name>
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        <name>MISSOURI ST HLTH &amp; EDUCTNL FAC</name>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
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        <name>TEXAS ST WTR DEV BRD</name>
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          <isin value="US8828547R78"/>
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          <maturityDt>2032-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNIV OF TEXAS TX UNIV REVENUES</name>
        <lei>TEHUYFNKZR6XVWLGEU86</lei>
        <title>Board of Regents of the University of Texas System</title>
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          <isin value="US91514AJL08"/>
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        <curCd>USD</curCd>
        <valUSD>32425.88000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MEMPHIS TN LIGHT GAS &amp; WTR DIV</name>
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        <title>City of Memphis TN Memphis Light Gas &amp; Water Division Electric System Revenue</title>
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          <isin value="US586187AR77"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MASSACHUSETTS ST BAY TRANSPRTN</name>
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        <title>Massachusetts Bay Transportation Authority Sales Tax Revenue</title>
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        <identifiers>
          <isin value="US575579QF72"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47918.03000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WISCONSIN ST HLTH &amp; EDUCTNL FA</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health &amp; Educational Facilities Authority</title>
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          <isin value="US97712DKG06"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
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          <isin value="US167486D977"/>
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        <curCd>USD</curCd>
        <valUSD>40152.18000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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        <name>NEW YORK CITY NY MUNI WTR FIN</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
        <title>New York City Municipal Water Finance Authority</title>
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          <isin value="US64972GG650"/>
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        <balance>40000.00000000</balance>
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        <valUSD>47364.94000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>LAKELAND FL ENERGY SYS REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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        <name>REGL TRANSPRTN AUTH IL</name>
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          <maturityDt>2029-06-01</maturityDt>
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        <name>ECTOR CNTY TX</name>
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          <isin value="US279245KM56"/>
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        <name>LOS ANGELES CA DEPT OF WTR &amp; P</name>
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        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
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          <isin value="US13063DM473"/>
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        <name>FORT SMITH AR WTR &amp; SWR REVENU</name>
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        <name>SAN BERNARDINO CA CMNTY CLG DI</name>
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          <couponKind>None</couponKind>
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        <name>ILLINOIS ST</name>
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        <name>TRINITY RIVER TX AUTH REGL WST</name>
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      <invstOrSec>
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        <name>WASHINGTON ST</name>
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      <invstOrSec>
        <name>MASSACHUSETTS ST WTR RESOURCES</name>
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        <title>Massachusetts Water Resources Authority</title>
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      <invstOrSec>
        <name>LOUISIANA PUB FACS AUTH REVENU</name>
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        <title>Louisiana Public Facilities Authority</title>
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          <isin value="US546399DU77"/>
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      <invstOrSec>
        <name>NEW YORK CITY NY TRANSITIONAL</name>
        <lei>N/A</lei>
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        <cusip>64972JLY2</cusip>
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          <isin value="US64972JLY28"/>
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          <maturityDt>2039-05-01</maturityDt>
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      <invstOrSec>
        <name>INDIANA ST BOND BANK REVENUE</name>
        <lei>549300TZMGETS4ELEI93</lei>
        <title>Indiana Bond Bank</title>
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          <isin value="US454624VX27"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>NEW YORK CITY NY TRANSITIONAL</name>
        <lei>N/A</lei>
        <title>New York City Transitional Finance Authority Future Tax Secured Revenue</title>
        <cusip>64971XB72</cusip>
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          <isin value="US64971XB724"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
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      <invstOrSec>
        <name>MARYLAND ST</name>
        <lei>N/A</lei>
        <title>State of Maryland</title>
        <cusip>574193TF5</cusip>
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          <isin value="US574193TF52"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33173.55000000</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>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>UNIV OF WASHINGTON WA UNIV REV</name>
        <lei>T8YS5W0N70BYCTHPA429</lei>
        <title>University of Washington</title>
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          <isin value="US91523NPN02"/>
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        <curCd>USD</curCd>
        <valUSD>50033.68000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>ALABAMA ST PUBLIC SCH &amp; CLG AU</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-11-01</maturityDt>
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        <name>FAIRFAX CNTY VA</name>
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        <title>County of Fairfax VA</title>
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        <name>MONTGOMERY CNTY MD</name>
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        <name>LOS ANGELES CNTY CA MET TRANSP</name>
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        <name>NEW YORK CITY NY TRANSITIONAL</name>
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        <name>MASSACHUSETTS ST</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts</title>
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          <isin value="US57582RXN15"/>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>SALES TAX SECURITIZATION CORP</name>
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        <name>N TEXAS ST MUNI WTR DIST WTR S</name>
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        <name>TAMPA BAY WTR FL UTILITY SYS R</name>
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        <name>MINNESOTA ST PUBLIC FACS AUTH</name>
        <lei>N/A</lei>
        <title>Minnesota Public Facilities Authority State Revolving Fund</title>
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          <isin value="US604115DL60"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LONG ISLAND NY PWR AUTH ELEC S</name>
        <lei>1R46U5SYJ63KQXF39168</lei>
        <title>Long Island Power Authority</title>
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          <isin value="US542690UY69"/>
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        <curCd>USD</curCd>
        <valUSD>32393.07000000</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>2029-09-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
        <cusip>59261AJ57</cusip>
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          <isin value="US59261AJ579"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CLARK CNTY NV SCH DIST</name>
        <lei>N/A</lei>
        <title>Clark County School District</title>
        <cusip>181059YJ9</cusip>
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          <isin value="US181059YJ90"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31397.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST INFRASTRUCTURE &amp;</name>
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        <title>California Infrastructure &amp; Economic Development Bank</title>
        <cusip>13034A4K3</cusip>
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          <isin value="US13034A4K31"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35923.55000000</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>2033-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLUMBUS OH SWR REVENUE</name>
        <lei>N/A</lei>
        <title>City of Columbus OH Sewerage Revenue</title>
        <cusip>199561GS4</cusip>
        <identifiers>
          <isin value="US199561GS45"/>
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        <balance>30000.00000000</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>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ILLINOIS ST</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>State of Illinois</title>
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          <isin value="US4521526Y20"/>
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        <balance>20000.00000000</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>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK NY</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>City of New York NY</title>
        <cusip>64966SBE5</cusip>
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          <isin value="US64966SBE54"/>
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        <balance>40000.00000000</balance>
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        <valUSD>46156.12000000</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>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MASSACHUSETTS ST</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts</title>
        <cusip>57582R7L4</cusip>
        <identifiers>
          <isin value="US57582R7L44"/>
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        <balance>40000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>KING CNTY WA SCH DIST #210 FED</name>
        <lei>N/A</lei>
        <title>King County School District No 210 Federal Way</title>
        <cusip>494890E44</cusip>
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          <isin value="US494890E444"/>
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        <curCd>USD</curCd>
        <valUSD>37301.52000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>FLORIDA ST BRD OF EDU PUBLIC E</name>
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        <title>State of Florida</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>State of California</title>
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          <isin value="US13063DSD11"/>
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      <invstOrSec>
        <name>UNIV OF CALIFORNIA CA REVENUES</name>
        <lei>N/A</lei>
        <title>University of California</title>
        <cusip>91412HRN5</cusip>
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          <isin value="US91412HRN51"/>
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        <name>TRIBOROUGH NY BRIDGE &amp; TUNNEL</name>
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          <isin value="US89602HFH57"/>
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        <name>WAKE CNTY NC LIMITED OBLIG</name>
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        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>State of Washington</title>
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        <name>CMWLTH FING AUTH PA</name>
        <lei>N/A</lei>
        <title>Commonwealth Financing Authority</title>
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        <name>ALLEN TX INDEP SCH DIST</name>
        <lei>N/A</lei>
        <title>Allen Independent School District</title>
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        <invCountry>US</invCountry>
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        <name>VIRGINIA ST CLG BLDG AUTH EDUC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>MIAMI-DADE CNTY FL SCH BRD COP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-01</maturityDt>
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        <name>SAN FRANCISCO CA BAY AREA RAPI</name>
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        <valUSD>25409.62000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>MICHIGAN ST HSG DEV AUTH RENTA</name>
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        <title>Michigan State Housing Development Authority</title>
        <cusip>59465M6J9</cusip>
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          <isin value="US59465M6J95"/>
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        <curCd>USD</curCd>
        <valUSD>32539.27000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-01</maturityDt>
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        <name>KENTUCKY ST PUBLIC ENERGY AUTH</name>
        <lei>549300XEJZWHYSY4SL55</lei>
        <title>Kentucky Public Energy Authority</title>
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          <isin value="US74440DFQ25"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-12-01</maturityDt>
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        <name>NEW YORK ST DORM AUTH ST PERSO</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
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          <isin value="US64990FXZ25"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW YORK ST CONVENTION CENTER</name>
        <lei>N/A</lei>
        <title>New York Convention Center Development Corp</title>
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          <isin value="US649451CY55"/>
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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>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW JERSEY ST EDUCTNL FACS AUT</name>
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        <title>New Jersey Educational Facilities Authority</title>
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          <isin value="US646067HG62"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>DIST OF COLUMBIA</name>
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        <title>District of Columbia</title>
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        <curCd>USD</curCd>
        <valUSD>40619.97000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>COOK KANE LAKE &amp; MCHENRY CNTYS</name>
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        <title>Cook Kane Lake &amp; McHenry Counties Community College District No 512</title>
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          <isin value="US216181GT87"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-15</maturityDt>
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        <name>TRINITY RIVER TX AUTH REGL WST</name>
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        <title>Trinity River Authority Central Regional Wastewater System Revenue</title>
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        <name>CONNECTICUT ST</name>
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        <name>NEW YORK CITY NY TRANSITIONAL</name>
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        <title>New York City Transitional Finance Authority Building Aid Revenue</title>
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        <name>MARIN CA HLTHCARE DIST</name>
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        <name>ILLINOIS ST SALES TAX REVENUE</name>
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        <name>NEW YORK ST DORM AUTH SALES TA</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
        <cusip>59261AJ81</cusip>
        <identifiers>
          <isin value="US59261AJ819"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32776.06000000</valUSD>
        <pctVal>0.323672930035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-20</ncom:dateSigned>
      <ncom:nameOfApplicant>Goldman Sachs ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Allison Frachiolla</ncom:signature>
      <ncom:signerName>Allison Frachiolla</ncom:signerName>
      <ncom:title>Vice President Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
