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        <name>PUERTO RICO SALES TAX FING COR</name>
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        <name>GLENDORA CA UNIF SCH DIST</name>
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        <name>CALIFORNIA ST INFRASTRUCTURE &amp;</name>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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      <invstOrSec>
        <name>CALIFORNIA ST SCH FIN AUTH CHR</name>
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        <name>GUAM INTERNATIONAL ARPT AUTH</name>
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          <isin value="US40064RGN35"/>
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        <name>PUERTO RICO SALES TAX FING COR</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA STWD CMNTYS DEV AUT</name>
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        <name>CALIFORNIA ST MUNI FIN AUTH RE</name>
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        <name>TULARE TRANSPRTN AUTH SALES TA</name>
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        <name>CALIFORNIA ST INFRASTRUCTURE &amp;</name>
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        <name>NTHRN CA TRANSMISSION AGY REVE</name>
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        <name>TURLOCK CA IRR DIST</name>
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      <invstOrSec>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MERCED CA UNION HIGH SCH DIST</name>
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          <isin value="US587635LW16"/>
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          <maturityDt>2036-08-01</maturityDt>
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        <name>FRUITVALE CA SCH DIST</name>
        <lei>N/A</lei>
        <title>Fruitvale School District/CA</title>
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          <isin value="US359497KV50"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>CALIFORNIA ST MUNI FIN AUTH SO</name>
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          <isin value="US13048RAS67"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-09-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FOOTHILL-DE ANZA CA CMNTY CLG</name>
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          <isin value="US345102BE66"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PALM DESERT CA IMPT BOND ACT 1</name>
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          <isin value="US696618JF52"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-02</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>ALAMEDA CA CORRIDOR TRANSPRTN</name>
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          <isin value="US010869JN60"/>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-01</maturityDt>
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        <name>GUAM GOVT WTRWKS AUTH WTR &amp; WS</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-07-01</maturityDt>
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        <name>SAN FRANCISCO CITY &amp; CNTY CA M</name>
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          <maturityDt>2029-08-01</maturityDt>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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        <name>PUERTO RICO SALES TAX FING COR</name>
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      <invstOrSec>
        <name>GLENDALE CA ELEC WKS REVENUE</name>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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      <invstOrSec>
        <name>STHRN CA LOGISTICS ARPT AUTH</name>
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        <name>CALIFORNIA ST SCH FIN AUTH CHR</name>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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        <name>GUAM INTERNATIONAL ARPT AUTH</name>
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        <name>DOWNEY CA UNIF SCH DIST</name>
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        <name>EAST BAY CA REGL PARK DIST</name>
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        <name>LOS ANGELES CA MUNI IMPT CORPL</name>
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        <name>TRANSBAY JT POWERS AUTH CA</name>
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        <name>ORCUTT CA UNION SCH DIST</name>
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        <name>CALIFORNIA ST MUNI FIN AUTH RE</name>
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        <name>CALIFORNIA CMNTY CHOICE FING A</name>
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        <name>BEAUMONT CA PUBLIC IMPT AUTH L</name>
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        <name>CSCDA CMNTY IMPT AUTH CA ESSEN</name>
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        <name>EL MONTE CA UNION HIGH SCH DIS</name>
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        <name>CALIFORNIA ST INFRASTRUCTURE &amp;</name>
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          <isin value="US13034AT269"/>
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        <name>PUERTO RICO SALES TAX FING COR</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>LOS ANGELES CA DEPT OF WTR &amp; P</name>
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        <name>GUAM INTERNATIONAL ARPT AUTH</name>
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        <name>CALIFORNIA ST INFRASTRUCTURE &amp;</name>
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        <name>NEEDLES CA UNIF SCH DIST</name>
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        <name>E BAY CA MUNI UTILITY DIST WST</name>
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        <name>PUERTO RICO SALES TAX FING COR</name>
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        <name>CALIFORNIA STWD CMNTYS DEV AUT</name>
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          <isin value="US13080ST207"/>
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          <maturityDt>2041-12-01</maturityDt>
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        <name>LONG BEACH CA UNIF SCH DIST</name>
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        <name>AMADOR CA WTR AGY COPS</name>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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      <invstOrSec>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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      <invstOrSec>
        <name>LONG BEACH CA UNIF SCH DIST</name>
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          <maturityDt>2032-08-01</maturityDt>
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        <name>INDEPENDENT CITIES FIN AUTH CA</name>
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          <isin value="US45384PAM77"/>
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        <name>SANTA PAULA CA SPL TAX</name>
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          <isin value="US802545AL71"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CA HARBOR DEPT</name>
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          <isin value="US544552C832"/>
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        <name>MENIFEE CA SPL TAX</name>
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        <title>City of Menifee CA</title>
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          <isin value="US58680WFR07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RIVERSIDE CA PUBLIC FING AUTHL</name>
        <lei>N/A</lei>
        <title>Riverside Public Financing Authority</title>
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          <isin value="US76926CCQ50"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>RIVERSIDE CA UNIF SCH DIST FIN</name>
        <lei>N/A</lei>
        <title>Riverside Unified School District Financing Authority</title>
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          <isin value="US769066BL47"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA CNTY CA TOBACCO SEC</name>
        <lei>N/A</lei>
        <title>California County Tobacco Securitization Agency</title>
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          <isin value="US13016NFB55"/>
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        <name>CALIFORNIA ST POLL CONTROL FIN</name>
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        <title>California Pollution Control Financing Authority</title>
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        <name>CALIFORNIA ST MUNI FIN AUTH RE</name>
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          <isin value="US13048V3P17"/>
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        <name>CALIFORNIA ST MUNI FIN AUTH RE</name>
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        <title>California Municipal Finance Authority</title>
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        <name>GUAM GOVT WTRWKS AUTH WTR &amp; WS</name>
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        <name>CALIFORNIA HSG FIN AGY LTD OBL</name>
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        <name>CYPRESS CA ELEM SCH DIST</name>
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        <name>BAY AREA CA TOLL AUTH TOLL BRI</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GUAM GOVT LTD OBLG REVENUE</name>
        <lei>N/A</lei>
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          <isin value="US40065HDT41"/>
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        <valUSD>101179.31000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>REDDING CA JT PWRS FING AUTH E</name>
        <lei>N/A</lei>
        <title>Redding Joint Powers Financing Authority</title>
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          <isin value="US75728LCE48"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-01</maturityDt>
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      <invstOrSec>
        <name>ROMOLAND CA SCH DIST SPL TAX</name>
        <lei>N/A</lei>
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        <cusip>776192XX9</cusip>
        <identifiers>
          <isin value="US776192XX98"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>105900.16000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CARLSBAD CA UNIF SCH DIST</name>
        <lei>N/A</lei>
        <title>Carlsbad Unified School District</title>
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          <isin value="US142665GV45"/>
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        <curCd>USD</curCd>
        <valUSD>173743.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>CALIFORNIA ST MUNI FIN AUTH SO</name>
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        <cusip>13048RAH0</cusip>
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          <isin value="US13048RAH03"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>LOS ANGELES CNTY CA PUBLIC WKS</name>
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        <title>Los Angeles County Public Works Financing Authority</title>
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          <isin value="US54473EXS89"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>BEAUMONT CA SPL TAX</name>
        <lei>N/A</lei>
        <title>City of Beaumont CA</title>
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          <isin value="US074434BQ34"/>
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        <curCd>USD</curCd>
        <valUSD>336981.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INGLEWOOD CA JT PWRS AUTH LEAS</name>
        <lei>N/A</lei>
        <title>Inglewood Joint Powers Authority</title>
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          <isin value="US45710PAY60"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1078338.30000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SACRAMENTO CITY CA UNIF SCH DI</name>
        <lei>N/A</lei>
        <title>Sacramento City Unified School District/CA</title>
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          <isin value="US785870N858"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>96493.04000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <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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      <invstOrSec>
        <name>BAY AREA CA TOLL AUTH TOLL BRI</name>
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        <title>Bay Area Toll Authority</title>
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          <isin value="US072024YY29"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1700000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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        <name>CALIFORNIA ST MUNI FIN AUTH RE</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13048V2S6</cusip>
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          <isin value="US13048V2S64"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103056.54000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST POLL CONTROL FIN</name>
        <lei>N/A</lei>
        <title>California Pollution Control Financing Authority</title>
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          <isin value="US13053CAD48"/>
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          <couponKind>Fixed</couponKind>
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        <name>GUAM INTERNATIONAL ARPT AUTH</name>
        <lei>N/A</lei>
        <title>Antonio B Won Pat International Airport Authority</title>
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          <isin value="US40064RGG83"/>
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        <name>SACRAMENTO CA SPL TAX</name>
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          <isin value="US786071RQ58"/>
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        <name>TOBACCO SECURITIZATION AUTH ST</name>
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          <isin value="US888804CB50"/>
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        <name>SAN FRANCISCO CALIF CITY &amp;CNTY</name>
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        <name>CALIFORNIA ST STWD CMNTYS DEV</name>
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        <title>California Statewide Communities Development Authority</title>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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        <title>California Health Facilities Financing Authority</title>
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        <name>CALIFORNIA PUBLIC FIN AUTH TAX</name>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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        <name>CALIFORNIA CMNTY CHOICE FING A</name>
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        <title>California Community Choice Financing Authority</title>
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          <isin value="US13013JFR23"/>
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        <fairValLevel>2</fairValLevel>
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        <name>LONE PINE UNIF SCH DIST CA</name>
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        <name>CALIFORNIA ST MUNI FIN AUTH RE</name>
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          <isin value="US13048VBQ05"/>
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        <name>CALIFORNIA ST SCH FIN AUTH CHR</name>
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          <isin value="US13013JEP75"/>
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      <invstOrSec>
        <name>CALIFORNIA ST MUNI FIN AUTH RE</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US13048V4F26"/>
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        <name>ALVORD CA UNIF SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SCHS INFRASTRUCTURE FING AGY C</name>
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          <isin value="US80802VBM46"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT WTR &amp; PWR</name>
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          <isin value="US5444956D10"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>VIRGIN ISLANDS TRANSPRTN &amp; INF</name>
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        <title>Virgin Islands Transportation &amp; Infrastructure Corp</title>
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          <isin value="US927686AV73"/>
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        <curCd>USD</curCd>
        <valUSD>158199.17000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>EL RANCHO CA UNIF SCH DIST</name>
        <lei>N/A</lei>
        <title>El Rancho Unified School District</title>
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          <isin value="US283839VD74"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority</title>
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          <isin value="US13032URA87"/>
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        <balance>125000.00000000</balance>
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        <valUSD>131273.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>PUERTO RICO CMWLTH</name>
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        <title>Commonwealth of Puerto Rico</title>
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          <isin value="US74514L3K10"/>
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        <valUSD>49969.44000000</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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        <name>BAY AREA CA TOLL AUTH TOLL BRI</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-04-01</maturityDt>
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          <annualizedRt>2.30000000</annualizedRt>
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        <name>CALIFORNIA ST STWD CMNTYS DEV</name>
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        <name>LAKE TAHOE CA UNIF SCH DIST</name>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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        <name>NEWPORT BEACH CA IMPT BOND ACT</name>
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        <name>CALIFORNIA ST HLTH FACS FING A</name>
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        <title>California Health Facilities Financing Authority</title>
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        <name>CALIFORNIA ST MUNI FIN AUTH RE</name>
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        <name>DUBLIN CA CMNTY FACS DIST IMPT</name>
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        <name>CALIFORNIA SCH FIN AUTH SCH FA</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST SCH FIN AUTH CHR</name>
        <lei>N/A</lei>
        <title>California School Finance Authority</title>
        <cusip>13058TTP5</cusip>
        <identifiers>
          <isin value="US13058TTP56"/>
        </identifiers>
        <balance>720000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>743963.90000000</valUSD>
        <pctVal>0.561083282644</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING COR</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</title>
        <cusip>74529JQH1</cusip>
        <identifiers>
          <isin value="US74529JQH13"/>
        </identifiers>
        <balance>2075000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>517124.65000000</valUSD>
        <pctVal>0.390005477629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CA MUNI IMPT CORPL</name>
        <lei>549300ZJ0YLTZNSR8F57</lei>
        <title>Municipal Improvement Corp of Los Angeles</title>
        <cusip>5445875V6</cusip>
        <identifiers>
          <isin value="US5445875V62"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1069699.80000000</valUSD>
        <pctVal>0.806747041393</pctVal>
        <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>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MATCHING FUND SPL PURPOSE SECU</name>
        <lei>N/A</lei>
        <title>Matching Fund Special Purpose Securitization Corp</title>
        <cusip>57665NAG0</cusip>
        <identifiers>
          <isin value="US57665NAG07"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1557318.15000000</valUSD>
        <pctVal>1.174499434346</pctVal>
        <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>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CNTY CA PUBLIC WKS</name>
        <lei>N/A</lei>
        <title>Los Angeles County Public Works Financing Authority</title>
        <cusip>54473EZP2</cusip>
        <identifiers>
          <isin value="US54473EZP23"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1091065.90000000</valUSD>
        <pctVal>0.822860943593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EL CENTRO CA ELEM SCH DIST</name>
        <lei>N/A</lei>
        <title>El Centro Elementary School District</title>
        <cusip>28282PEC4</cusip>
        <identifiers>
          <isin value="US28282PEC41"/>
        </identifiers>
        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>166929.99000000</valUSD>
        <pctVal>0.125895391914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</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>
      <invstOrSec>
        <name>CALIFORNIA STWD CMNTYS DEV AUT</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority</title>
        <cusip>13080SWF7</cusip>
        <identifiers>
          <isin value="US13080SWF72"/>
        </identifiers>
        <balance>470000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>431584.27000000</valUSD>
        <pctVal>0.325492566170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING COR</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</title>
        <cusip>74529JQG3</cusip>
        <identifiers>
          <isin value="US74529JQG30"/>
        </identifiers>
        <balance>182000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62061.58000000</valUSD>
        <pctVal>0.046805651500</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>None</couponKind>
          <annualizedRt>0.00000000</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>
