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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SIOUX FALLS SD SALES TAX REVEN</name>
        <lei>N/A</lei>
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        <cusip>829594JR2</cusip>
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          <isin value="US829594JR20"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN ANTONIO TX ELEC &amp; GAS REVE</name>
        <lei>5493002G2FEH20Q4GQ04</lei>
        <title>City of San Antonio TX Electric &amp; Gas Systems Revenue</title>
        <cusip>79625GAE3</cusip>
        <identifiers>
          <isin value="US79625GAE35"/>
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        <curCd>USD</curCd>
        <valUSD>102635.19000000</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>2027-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>PENNSYLVANIA ST TURNPIKE COMMI</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
        <title>Pennsylvania Turnpike Commission</title>
        <cusip>709224LK3</cusip>
        <identifiers>
          <isin value="US709224LK33"/>
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        <curCd>USD</curCd>
        <valUSD>35000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KALAMAZOO MI HOSP FIN AUTH</name>
        <lei>N/A</lei>
        <title>Kalamazoo Hospital Finance Authority</title>
        <cusip>483233RC8</cusip>
        <identifiers>
          <isin value="US483233RC87"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25200.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</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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      <invstOrSec>
        <name>SAN DIEGO CA PUBLIC FACS FING</name>
        <lei>N/A</lei>
        <title>San Diego Public Facilities Financing Authority</title>
        <cusip>79730AJC3</cusip>
        <identifiers>
          <isin value="US79730AJC36"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20024.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JACKSONVILLE FL TRANSIT REVENU</name>
        <lei>549300XQE0JVN9WV0J40</lei>
        <title>City of Jacksonville FL</title>
        <cusip>469495DF9</cusip>
        <identifiers>
          <isin value="US469495DF90"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35062.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WEST VIRGINIA ST ECON DEV AUTH</name>
        <lei>549300WW88TKKF5H1220</lei>
        <title>West Virginia Economic Development Authority</title>
        <cusip>95648VBZ1</cusip>
        <identifiers>
          <isin value="US95648VBZ13"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.01000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON DC MET AREA TRANSIT</name>
        <lei>N/A</lei>
        <title>Washington Metropolitan Area Transit Authority Dedicated Revenue</title>
        <cusip>93878YCW7</cusip>
        <identifiers>
          <isin value="US93878YCW75"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>182658.67000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FAYETTE CNTY KY SCH DIST FIN C</name>
        <lei>N/A</lei>
        <title>Fayette County School District Finance Corp</title>
        <cusip>312432C54</cusip>
        <identifiers>
          <isin value="US312432C548"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>125003.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HARRIS CNTY TX FLOOD CONTROL D</name>
        <lei>N/A</lei>
        <title>Harris County Flood Control District</title>
        <cusip>4140187N5</cusip>
        <identifiers>
          <isin value="US4140187N55"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30569.59000000</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>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>MIAMI-DADE CNTY FL WTR &amp; SWR R</name>
        <lei>N/A</lei>
        <title>County of Miami-Dade FL Water &amp; Sewer System Revenue</title>
        <cusip>59334DQR8</cusip>
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          <isin value="US59334DQR88"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>104299.29000000</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>2027-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>PASCO CNTY FL SCH DIST SALES T</name>
        <lei>549300NYEDMC7IDJPE68</lei>
        <title>Pasco County School Board</title>
        <cusip>70253QAX7</cusip>
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          <isin value="US70253QAX79"/>
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        <balance>80000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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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="US92778VHU52"/>
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        <name>RHODE ISLAND ST HLTH &amp; EDUCTNL</name>
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        <title>Rhode Island Health and Educational Building Corp</title>
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          <isin value="US762244EP24"/>
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        <name>PARKER CNTY TX</name>
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        <title>County of Parker TX</title>
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          <isin value="US701060GZ29"/>
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        <name>ALABAMA ST</name>
        <lei>549300TKZX0YNENZC895</lei>
        <title>State of Alabama</title>
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          <isin value="US010411AK24"/>
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        <invCountry>US</invCountry>
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        <name>PUBLIC FIN AUTH WI CTFS</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
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          <isin value="US74448XAK81"/>
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        <balance>275000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>WISCONSIN ST HLTH &amp; EDUCTNL FA</name>
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        <title>Wisconsin Health &amp; Educational Facilities Authority</title>
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        <balance>45000.00000000</balance>
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      <invstOrSec>
        <name>WAYNE CNTY MI ARPT AUTH REVENU</name>
        <lei>N/A</lei>
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          <isin value="US944514TW82"/>
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        <curCd>USD</curCd>
        <valUSD>70017.63000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DAYTON TX INDEP SCH DIST</name>
        <lei>N/A</lei>
        <title>Dayton Independent School District</title>
        <cusip>240091KK3</cusip>
        <identifiers>
          <isin value="US240091KK30"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50090.64000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTHMONT IN SCH BLDG CORP</name>
        <lei>N/A</lei>
        <title>Southmont School Building Corp</title>
        <cusip>84455RBR4</cusip>
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          <isin value="US84455RBR49"/>
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        <curCd>USD</curCd>
        <valUSD>45122.45000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</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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      <invstOrSec>
        <name>MOUNT VERNON IL</name>
        <lei>N/A</lei>
        <title>City of Mount Vernon IL</title>
        <cusip>623385EX5</cusip>
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          <isin value="US623385EX50"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>126241.93000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>DALLAS TX</name>
        <lei>N/A</lei>
        <title>City of Dallas TX</title>
        <cusip>235219US9</cusip>
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          <isin value="US235219US94"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>65318.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>NEW YORK NY</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>City of New York NY</title>
        <cusip>64966Q2D1</cusip>
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          <isin value="US64966Q2D13"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35561.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>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>MISSOURI ST BRD OF PUBLIC BLDG</name>
        <lei>N/A</lei>
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        <cusip>606341MC6</cusip>
        <identifiers>
          <isin value="US606341MC61"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>142681.42000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>APPLING CNTY GA DEV AUTH</name>
        <lei>N/A</lei>
        <title>Development Authority of Appling County</title>
        <cusip>038315EX1</cusip>
        <identifiers>
          <isin value="US038315EX15"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>300000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PEORIA CNTY IL</name>
        <lei>N/A</lei>
        <title>County of Peoria IL</title>
        <cusip>712855KH7</cusip>
        <identifiers>
          <isin value="US712855KH70"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45042.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BROWARD CNTY FL TOURIST DEV TA</name>
        <lei>N/A</lei>
        <title>County of Broward FL Tourist Development Tax Revenue</title>
        <cusip>115085AE2</cusip>
        <identifiers>
          <isin value="US115085AE24"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>104070.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHATTANOOGA TN HLTH EDUCTNL &amp;</name>
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        <title>Chattanooga Health Educational &amp; Housing Facility Board</title>
        <cusip>162410CB8</cusip>
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          <isin value="US162410CB80"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KELLER TX INDEP SCH DIST</name>
        <lei>549300BS0JDJPR8KUN68</lei>
        <title>Keller Independent School District/TX</title>
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          <isin value="US487694QX29"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>WAUKESHA WI SCH DIST</name>
        <lei>N/A</lei>
        <title>Waukesha School District</title>
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          <isin value="US943099FV84"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35016.47000000</valUSD>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WAGONER CNTY OK INDEP SCH DIST</name>
        <lei>N/A</lei>
        <title>Wagoner County Independent School District No 17 Coweta</title>
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          <isin value="US930546DU75"/>
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        <balance>35000.00000000</balance>
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          <maturityDt>2026-09-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>ILLINOIS ST FIN AUTH REVENUE</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority</title>
        <cusip>45204ENE4</cusip>
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          <isin value="US45204ENE40"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ILLINOIS ST FIN AUTH REVENUE</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority</title>
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          <isin value="US45204EET10"/>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2027-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>WICHITA KS</name>
        <lei>549300Y20JVN3VP2V718</lei>
        <title>City of Wichita KS</title>
        <cusip>967245QG9</cusip>
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          <isin value="US967245QG90"/>
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        <curCd>USD</curCd>
        <valUSD>141920.67000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>VIRGINIA ST CMWLTH TRANSPRTN B</name>
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          <isin value="US927793X876"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <name>LANCASTER CNTY PA HOSP AUTH</name>
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      <invstOrSec>
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        <name>MIAMI-DADE CNTY FL</name>
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      <invstOrSec>
        <name>CLARK CNTY NV SCH DIST</name>
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        <name>SAINT CHARLES CNTY MO FRANCIS</name>
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          <maturityDt>2026-03-01</maturityDt>
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          <isin value="US574204A290"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>MET WASHINGTON DC ARPTS AUTH A</name>
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        <title>Metropolitan Washington Airports Authority Aviation Revenue</title>
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          <isin value="US592647JV41"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>112088.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW YORK NY</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</maturityDt>
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        <name>OHIO ST HOSP FAC REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW JERSEY ST HSG &amp; MTGE FIN A</name>
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        <name>MACOMB CNTY MI</name>
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          <maturityDt>2027-05-01</maturityDt>
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        <name>ARIZONA ST TRANSPRTN BRD HIGHW</name>
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        <name>OLDHAM KY SCH DIST FIN CORP</name>
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        <name>INDIANA ST FIN AUTH REVENUE</name>
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        <name>FORT OSAGE MO REORG SCH DIST #</name>
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        <name>NEW JERSEY ST HGR EDU ASSISTAN</name>
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        <name>CONNECTICUT ST</name>
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        <name>WAUKEE IA CMNTY SCH DIST</name>
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        <name>CHARLESTON CNTY SC SCH DIST</name>
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        <name>TEXAS ST UNIV SYS FING REVENUE</name>
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      <invstOrSec>
        <name>UTAH ST TRANSIT AUTH SALES TAX</name>
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          <maturityDt>2027-06-15</maturityDt>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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          <isin value="US59261ACE55"/>
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        <curCd>USD</curCd>
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          <maturityDt>2026-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CLEVELAND CNTY OK EDUCTNL FACS</name>
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          <isin value="US18604TEB08"/>
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        <curCd>USD</curCd>
        <valUSD>55922.89000000</valUSD>
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          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>SALES TAX SECURITIZATION CORP</name>
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          <isin value="US79467BEC54"/>
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        <curCd>USD</curCd>
        <valUSD>127602.74000000</valUSD>
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          <maturityDt>2027-01-01</maturityDt>
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        <name>ILLINOIS ST FIN AUTH REVENUE</name>
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          <isin value="US45204EKD93"/>
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        <name>MEMPHIS TN</name>
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        <name>MASSACHUSETTS ST HLTH &amp; EDUCTN</name>
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        <title>Massachusetts Health &amp; Educational Facilities Authority</title>
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          <isin value="US57586CV697"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>PORT OF PORT ARTHUR TX NAV DIS</name>
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        <invCountry>US</invCountry>
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        <name>KELLER TX INDEP SCH DIST</name>
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        <name>ROCK ISLAND CNTY IL PUBLIC BLD</name>
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        <name>PALM BEACH CNTY FL SCH BRD COP</name>
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        <name>YUMA AZ MUNI PROPERTY CORP EXC</name>
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        <name>EDINA MN INDEP SCH DIST #273</name>
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        <name>COOK CNTY IL SCH DIST #81 SCHI</name>
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        <name>IDAHO ST HLTH FACS AUTH HOSP R</name>
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        <name>HOUSTON TX INDEP SCH DIST</name>
        <lei>N/A</lei>
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        <name>CORNING NY CITY SCH DIST</name>
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        <name>WISCONSIN ST HLTH &amp; EDUCTNL FA</name>
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        <name>VIRGINIA ST CMWLTH UNIV HLTH S</name>
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        <name>EL PASO TX DOWNTOWN DEV CORP S</name>
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        <name>PEORIA IL MET ARPT AUTH</name>
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        <name>PORT OF SEATTLE WA REVENUE</name>
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        <name>CALIFORNIA ST MUNI FIN AUTH SO</name>
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        <name>S MIAMI FL HLTH FACS AUTH</name>
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        <name>W HARRIS CNTY TX REGL WTR AUTH</name>
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        <name>CHICAGO IL MIDWAY ARPT REVENUE</name>
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          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>MISSISSIPPI ST HOSP EQUIPMENT&amp;</name>
        <lei>549300DW2GVUIGE04396</lei>
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          <isin value="US605360TN69"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SARASOTA CNTY FL UTILITY SYS R</name>
        <lei>N/A</lei>
        <title>County of Sarasota FL Utility System Revenue</title>
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          <isin value="US803321NG97"/>
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        <valUSD>40304.12000000</valUSD>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>YAVAPAI CNTY AZ INDL DEV AUTH</name>
        <lei>N/A</lei>
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          <isin value="US985900EM78"/>
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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>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOUISIANA ST UNIV &amp; AGRIC &amp; ME</name>
        <lei>N/A</lei>
        <title>Louisiana State University &amp; Agricultural &amp; Mechanical College</title>
        <cusip>546540PR0</cusip>
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          <isin value="US546540PR01"/>
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        <curCd>USD</curCd>
        <valUSD>75950.96000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MIAMI-DADE CNTY FL AVIATION RE</name>
        <lei>N/A</lei>
        <title>County of Miami-Dade FL Aviation Revenue</title>
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          <isin value="US59333PS823"/>
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        <curCd>USD</curCd>
        <valUSD>25453.86000000</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>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOUISIANA ST</name>
        <lei>N/A</lei>
        <title>State of Louisiana</title>
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          <isin value="US5464153T52"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50852.32000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDIANA ST FIN AUTH HOSP REVEN</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority</title>
        <cusip>45471APX4</cusip>
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          <isin value="US45471APX45"/>
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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>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>UPTON CNTY TX</name>
        <lei>N/A</lei>
        <title>County of Upton TX</title>
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          <isin value="US916813BK33"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50214.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CHARLOTTE-MECKLENBURG NC HOSPA</name>
        <lei>549300XOH4JU704GMZ32</lei>
        <title>Charlotte-Mecklenburg Hospital Authority/The</title>
        <cusip>160853UL9</cusip>
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          <isin value="US160853UL92"/>
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        <curCd>USD</curCd>
        <valUSD>160000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>HOUSTON TX UTILITY SYS REVENUE</name>
        <lei>N/A</lei>
        <title>City of Houston TX Combined Utility System Revenue</title>
        <cusip>44244CCH8</cusip>
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          <isin value="US44244CCH88"/>
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        <balance>35000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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        <name>ILLINOIS ST</name>
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        <title>State of Illinois</title>
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          <isin value="US452152G881"/>
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        <curCd>USD</curCd>
        <valUSD>255777.05000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>SOUTH WASHINGTON CNTY MN INDEP</name>
        <lei>N/A</lei>
        <title>South Washington County Independent School District No 833/MN</title>
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          <maturityDt>2026-02-01</maturityDt>
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        <name>MICHIGAN ST FIN AUTH REVENUE</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>Michigan Finance Authority</title>
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          <isin value="US59447TAL70"/>
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        <name>MISSOURI ST HLTH &amp; EDUCTNL FAC</name>
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        <name>MARICOPA CNTY AZ UNIF SCH DIST</name>
        <lei>549300BQUWR69ZZ87I66</lei>
        <title>Maricopa County Unified School District No 89-Dysart/AZ</title>
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        <name>SALES TAX SECURITIZATION CORP</name>
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          <maturityDt>2027-01-01</maturityDt>
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        <name>METRO OR</name>
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          <maturityDt>2026-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>CONNECTICUT ST HLTH &amp; EDUCTNL</name>
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        <name>MARYLAND ST</name>
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        <name>ALLEN CNTY OH HOSP FACS REVENU</name>
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        <name>CLARK CNTY NV SCH DIST</name>
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        <name>LANE CNTY OR SCH DIST #4J EUGE</name>
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        <name>CLARK CNTY NV</name>
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      <invstOrSec>
        <name>NEW MEXICO ST SEVERANCE TAX</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CHICAGO IL O'HARE INTERNATIONA</name>
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      <invstOrSec>
        <name>WILL CNTY IL CMNTY CONSOL SCHD</name>
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          <maturityDt>2033-12-15</maturityDt>
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        <name>TENDER OPTION BOND TRUST RECEI</name>
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        <name>KING CNTY WA SCH DIST #405 BEL</name>
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          <maturityDt>2026-12-01</maturityDt>
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        <name>OKLAHOMA CNTY OK FIN AUTH EDUC</name>
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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>2027-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>ILLINOIS ST FIN AUTH REVENUE</name>
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        <name>COOK CNTY IL SCH DIST #100 BER</name>
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        <name>NEW BRAUNFELS TX UTILITY REVEN</name>
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        <name>BURLESON TX</name>
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        <name>PENNSYLVANIA ST ECON DEV FING</name>
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        <name>MET GOVT NASHVILLE &amp; DAVIDSON</name>
        <lei>549300GW8FVQJ3DU6O10</lei>
        <title>Metropolitan Government of Nashville &amp; Davidson County TN</title>
        <cusip>592112TW6</cusip>
        <identifiers>
          <isin value="US592112TW69"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10143.71000000</valUSD>
        <pctVal>0.044786114517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KANE CNTY IL SCH DIST #129 AUR</name>
        <lei>N/A</lei>
        <title>Kane County School District No 129 West Aurora</title>
        <cusip>483890RA9</cusip>
        <identifiers>
          <isin value="US483890RA91"/>
        </identifiers>
        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80266.51000000</valUSD>
        <pctVal>0.354389578247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-01</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>PENNSYLVANIA ST TURNPIKE COMMI</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
        <title>Pennsylvania Turnpike Commission</title>
        <cusip>709224LL1</cusip>
        <identifiers>
          <isin value="US709224LL16"/>
        </identifiers>
        <balance>65000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65000.00000000</valUSD>
        <pctVal>0.286985476085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</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>BALTIMORE MD REVENUE</name>
        <lei>N/A</lei>
        <title>City of Baltimore MD</title>
        <cusip>059231ZL7</cusip>
        <identifiers>
          <isin value="US059231ZL78"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30035.34000000</valUSD>
        <pctVal>0.132610866912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHARLESTON CNTY SC SCH DIST</name>
        <lei>N/A</lei>
        <title>Charleston County School District</title>
        <cusip>160075D79</cusip>
        <identifiers>
          <isin value="US160075D793"/>
        </identifiers>
        <balance>95000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95471.93000000</valUSD>
        <pctVal>0.421523958213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BROWARD CNTY FL SCH DIST</name>
        <lei>5493006KVNQDJ1D0OD92</lei>
        <title>School District of Broward County/FL</title>
        <cusip>115067MT4</cusip>
        <identifiers>
          <isin value="US115067MT41"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201530.54000000</valUSD>
        <pctVal>0.889789814888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TULSA CNTY OK INDL AUTH EDUCTN</name>
        <lei>549300WEYXBXLGN1E271</lei>
        <title>Tulsa County Industrial Authority</title>
        <cusip>89952PEB7</cusip>
        <identifiers>
          <isin value="US89952PEB76"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20031.96000000</valUSD>
        <pctVal>0.088444331962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>FEDERAL HOME LOAN MTGE CORP MF</name>
        <lei>N/A</lei>
        <title>FHLMC Multifamily VRD Certificates</title>
        <cusip>31350AAZ1</cusip>
        <identifiers>
          <isin value="US31350AAZ12"/>
        </identifiers>
        <balance>385000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>385000.00000000</valUSD>
        <pctVal>1.699837050662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.44000000</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>PORT OF PORT ARTHUR TX NAV DIS</name>
        <lei>N/A</lei>
        <title>Port of Port Arthur Navigation District</title>
        <cusip>735220AT2</cusip>
        <identifiers>
          <isin value="US735220AT28"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300000.00000000</valUSD>
        <pctVal>1.324548351165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.00000000</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>MISSISSIPPI ST BUSINESS FIN CO</name>
        <lei>549300DYV074JUDKBQ77</lei>
        <title>Mississippi Business Finance Corp</title>
        <cusip>60528ACG7</cusip>
        <identifiers>
          <isin value="US60528ACG76"/>
        </identifiers>
        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>700000.00000000</valUSD>
        <pctVal>3.090612819385</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIV OF KENTUCKY KY GEN RECPTS</name>
        <lei>549300CXE3YQ1HXYCQ71</lei>
        <title>University of Kentucky</title>
        <cusip>914378LZ5</cusip>
        <identifiers>
          <isin value="US914378LZ51"/>
        </identifiers>
        <balance>120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>120571.84000000</valUSD>
        <pctVal>0.532344106229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CLARK CNTY NV SCH DIST</name>
        <lei>N/A</lei>
        <title>Clark County School District</title>
        <cusip>181059TC0</cusip>
        <identifiers>
          <isin value="US181059TC03"/>
        </identifiers>
        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35057.00000000</valUSD>
        <pctVal>0.154782305156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</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>S FL WTR MGMT DIST COPS</name>
        <lei>N/A</lei>
        <title>South Florida Water Management District</title>
        <cusip>83786PCK4</cusip>
        <identifiers>
          <isin value="US83786PCK49"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10075.02000000</valUSD>
        <pctVal>0.044482837096</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LOWER NECHES VLY TX AUTH INDL</name>
        <lei>N/A</lei>
        <title>Lower Neches Valley Authority Industrial Development Corp</title>
        <cusip>548351AD7</cusip>
        <identifiers>
          <isin value="US548351AD73"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100000.00000000</valUSD>
        <pctVal>0.441516117055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.95000000</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>ALLEGHENY CNTY PA HOSP DEV AUT</name>
        <lei>54930046B973R604OG22</lei>
        <title>Allegheny County Hospital Development Authority</title>
        <cusip>01728A3L8</cusip>
        <identifiers>
          <isin value="US01728A3L81"/>
        </identifiers>
        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35225.52000000</valUSD>
        <pctVal>0.155526348116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-20</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>
