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        <name>INDIANA ST BOND BANK REVENUE</name>
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        <name>NEW YORK CITY NY TRANSITIONAL</name>
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        <name>LOS RIOS CA CMNTY CLG DIST</name>
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      <invstOrSec>
        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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          <isin value="US64990CWV98"/>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
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          <isin value="US59261AJ579"/>
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      <invstOrSec>
        <name>NEW YORK CITY NY TRANSITIONAL</name>
        <lei>N/A</lei>
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          <isin value="US64971XC557"/>
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        <curCd>USD</curCd>
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          <maturityDt>2034-11-01</maturityDt>
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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>
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          <isin value="US44244CSS79"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063D2E7</cusip>
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          <isin value="US13063D2E75"/>
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        <curCd>USD</curCd>
        <valUSD>58019.40000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MARYLAND ST</name>
        <lei>N/A</lei>
        <title>State of Maryland</title>
        <cusip>574193TB4</cusip>
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          <isin value="US574193TB49"/>
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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>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>HUDSON YARDS INFRASTRUCTURE CO</name>
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          <isin value="US44420RBR03"/>
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        <valUSD>23133.18000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>PHILADELPHIA PA AUTH FOR INDL</name>
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        <title>Philadelphia Authority for Industrial Development</title>
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          <isin value="US71779QAQ55"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</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="US92778WNB80"/>
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          <maturityDt>2028-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MASSACHUSETTS ST DEV FIN AGY R</name>
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        <name>GEORGIA ST</name>
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          <maturityDt>2033-02-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <title>City of Dallas TX</title>
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        <name>ANAHEIM CA PUBLIC FING AUTH LE</name>
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          <isin value="US03255LBS79"/>
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        <name>TEXAS ST WTR DEV BRD</name>
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        <name>UNIV OF UTAH UT REVENUES</name>
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        <name>MET TRANSPRTN AUTH NY DEDICATE</name>
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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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      <invstOrSec>
        <name>MISSOURI JT MUNI ELEC UTILITY</name>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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          <isin value="US491501DW95"/>
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          <maturityDt>2025-09-01</maturityDt>
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        <name>CENTRL PUGET SOUND WA REGL TRA</name>
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          <isin value="US155048DV06"/>
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        <name>NEW YORK NY</name>
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        <name>COLLIN CNTY TX CMNTY CLG DIST</name>
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          <maturityDt>2031-08-15</maturityDt>
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        <name>CAPE CORAL FL WTR &amp; SWR REVENU</name>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>MONTGOMERY CNTY MD</name>
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        <name>NEW YORK CITY NY TRANSITIONAL</name>
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        <name>MASSACHUSETTS ST</name>
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        <name>COLUMBUS OH SWR REVENUE</name>
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      <invstOrSec>
        <name>UNIV OF CALIFORNIA REVENUES</name>
        <lei>N/A</lei>
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          <isin value="US91412G3N39"/>
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      <invstOrSec>
        <name>LEHIGH CNTY PA GEN PURPOSE HOS</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power</name>
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          <isin value="US544532NR16"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LAKELAND FL ENERGY SYS REVENUE</name>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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          <isin value="US646136WQ01"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Financial Square Government Fund</name>
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          <isin value="US38141W2733"/>
          <ticker value="FGTXX"/>
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        <fairValLevel>1</fairValLevel>
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        <name>OREGON ST HSG &amp; CMNTY SVCS DEP</name>
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      <invstOrSec>
        <name>UNIV OF UTAH UT REVENUES</name>
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        <title>University of Utah/The</title>
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          <isin value="US915183YQ42"/>
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        <name>NEW YORK NY</name>
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          <maturityDt>2034-08-01</maturityDt>
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        <name>ILLINOIS ST</name>
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        <name>CMWLTH FING AUTH PA</name>
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        <name>UTAH ST TRANSIT AUTH SALES TAX</name>
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        <name>FAIRFAX CNTY VA</name>
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        <name>NEW YORK ST DORM AUTH REVENUES</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
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        <name>SALES TAX SECURITIZATION CORP</name>
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        <name>REEDY CREEK FL IMPT DIST</name>
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        <name>LOUISIANA ST PUBLIC FACS AUTH</name>
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        <lei>N/A</lei>
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          <isin value="US45203HP638"/>
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        <name>SANTA CLARA CNTY CA</name>
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        <name>CONNECTICUT ST</name>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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          <isin value="US59261ANK96"/>
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        <name>UNIV OF CALIFORNIA CA REVENUES</name>
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        <name>NEW ORLEANS LA</name>
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        <name>INDIANA UNIV REVENUES</name>
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        <name>SANTA CLARA CA UNIF SCH DIST</name>
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          <maturityDt>2033-07-01</maturityDt>
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        <name>N TEXAS ST MUNI WTR DIST WTR S</name>
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          <maturityDt>2028-09-01</maturityDt>
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        <name>ARIZONA BRD OF RGTS UNIV ARIZO</name>
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        <name>LONG ISLAND NY PWR AUTH ELEC S</name>
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        <name>OHIO ST WTR DEV AUTH WTR POLL</name>
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        <name>TRINITY RIVER TX AUTH REGL WST</name>
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        <name>HARRIS CNTY TX CULTURAL EDU FA</name>
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          <isin value="US88213AKX27"/>
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      <invstOrSec>
        <name>ALABAMA ST PUBLIC SCH &amp; CLG AU</name>
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      <invstOrSec>
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          <isin value="US646136ER85"/>
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        <name>WILLIAM S HART CA UNION HIGH S</name>
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          <isin value="US130178M868"/>
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          <maturityDt>2032-10-01</maturityDt>
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        <name>NEW YORK ST CONVENTION CENTER</name>
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        <title>New York Convention Center Development Corp</title>
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          <maturityDt>2034-11-15</maturityDt>
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        <name>TEXAS ST WTR DEV BRD</name>
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          <isin value="US882854WQ10"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-15</maturityDt>
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        <name>ATLANTA GA ARPT PASSENGER FAC</name>
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        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
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        <name>University of California</name>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT OF WTR &amp; P</name>
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      <invstOrSec>
        <name>ALLEN CNTY OH HOSP FACS REVENU</name>
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      <invstOrSec>
        <name>COLORADO ST HGR EDU CAPITAL CO</name>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NEW YORK CITY NY TRANSITIONAL</name>
        <lei>N/A</lei>
        <title>New York City Transitional Finance Authority Future Tax Secured Revenue</title>
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          <isin value="US64971XFP87"/>
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          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SCAGO SC EDUCTNL FACS CORP FOR</name>
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          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HARRIS CNTY TX</name>
        <lei>549300G9BRP25M0W1S40</lei>
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          <isin value="US414005R919"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>DELAWARE ST</name>
        <lei>N/A</lei>
        <title>State of Delaware</title>
        <cusip>246381KT3</cusip>
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          <isin value="US246381KT37"/>
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          <couponKind>Fixed</couponKind>
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        <name>AUSTIN TX</name>
        <lei>IW10PQVTU7HKS3JMW253</lei>
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          <isin value="US052397ZR02"/>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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          <isin value="US59261AJ819"/>
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        <name>MISSOURI JT MUNI ELEC UTILITY</name>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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        <name>LOS ANGELES CA UNIF SCH DIST</name>
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        <name>COLORADO ST HLTH FACS AUTH REV</name>
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        <name>FORT SMITH AR WTR &amp; SWR REVENU</name>
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        <name>COLORADO ST HLTH FACS AUTH REV</name>
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          <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 ST</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063CYP9</cusip>
        <identifiers>
          <isin value="US13063CYP93"/>
        </identifiers>
        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>69600.19000000</valUSD>
        <pctVal>0.698033506277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</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>PITTSBURGH &amp; ALLEGHENY CNTY PA</name>
        <lei>254900JJT7A9Y409G258</lei>
        <title>Sports &amp; Exhibition Authority of Pittsburgh &amp; Allegheny County</title>
        <cusip>724791BU1</cusip>
        <identifiers>
          <isin value="US724791BU19"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33244.93000000</valUSD>
        <pctVal>0.333419708392</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</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>LOS ANGELES CA DEPT OF WTR &amp; P</name>
        <lei>N/A</lei>
        <title>Los Angeles Department of Water &amp; Power Water System Revenue</title>
        <cusip>544525WB0</cusip>
        <identifiers>
          <isin value="US544525WB04"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31401.64000000</valUSD>
        <pctVal>0.314933003373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</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>ILLINOIS ST FIN AUTH REVENUE</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority</title>
        <cusip>45204FGV1</cusip>
        <identifiers>
          <isin value="US45204FGV13"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22894.66000000</valUSD>
        <pctVal>0.229614887471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</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>NORTH DAKOTA ST PUBLIC FIN AUT</name>
        <lei>N/A</lei>
        <title>North Dakota Public Finance Authority</title>
        <cusip>65887PXE0</cusip>
        <identifiers>
          <isin value="US65887PXE05"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34210.84000000</valUSD>
        <pctVal>0.343107002982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</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>ALABAMA ST PUBLIC SCH &amp; CLG AU</name>
        <lei>N/A</lei>
        <title>Alabama Public School and College Authority</title>
        <cusip>010609FQ3</cusip>
        <identifiers>
          <isin value="US010609FQ33"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25689.29000000</valUSD>
        <pctVal>0.257642761786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</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>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063CNQ9</cusip>
        <identifiers>
          <isin value="US13063CNQ95"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40001.28000000</valUSD>
        <pctVal>0.401180423989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>ATLANTA GA ARPT PASSENGER FAC</name>
        <lei>N/A</lei>
        <title>City of Atlanta GA Airport Passenger Facility Charge</title>
        <cusip>04780TEP5</cusip>
        <identifiers>
          <isin value="US04780TEP57"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44211.67000000</valUSD>
        <pctVal>0.443407223866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</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>ORLANDO FL UTILITIES COMMISSIO</name>
        <lei>549300EJR7JVMRXL5D66</lei>
        <title>Orlando Utilities Commission</title>
        <cusip>686507HY3</cusip>
        <identifiers>
          <isin value="US686507HY31"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31700.29000000</valUSD>
        <pctVal>0.317928220866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</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>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063DM47</cusip>
        <identifiers>
          <isin value="US13063DM473"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21753.17000000</valUSD>
        <pctVal>0.218166667759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</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>PORTLAND OR SWR SYS REVENUE</name>
        <lei>N/A</lei>
        <title>City of Portland OR Sewer System Revenue</title>
        <cusip>736742B48</cusip>
        <identifiers>
          <isin value="US736742B482"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21022.73000000</valUSD>
        <pctVal>0.210840946460</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</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>NORTH DAKOTA ST HSG FIN AGY</name>
        <lei>549300DVQAGW0B16JX70</lei>
        <title>North Dakota Housing Finance Agency</title>
        <cusip>658909E44</cusip>
        <identifiers>
          <isin value="US658909E444"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32730.60000000</valUSD>
        <pctVal>0.328261395271</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</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>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
        <cusip>59261APJ0</cusip>
        <identifiers>
          <isin value="US59261APJ06"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21515.74000000</valUSD>
        <pctVal>0.215785437257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-15</maturityDt>
          <couponKind>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>MASSACHUSETTS ST</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts</title>
        <cusip>57582RXN1</cusip>
        <identifiers>
          <isin value="US57582RXN15"/>
        </identifiers>
        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>60610.46000000</valUSD>
        <pctVal>0.607873799063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIST OF COLUMBIA</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia</title>
        <cusip>25476FVD7</cusip>
        <identifiers>
          <isin value="US25476FVD76"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40856.18000000</valUSD>
        <pctVal>0.409754378234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>
    </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>2025-01-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Goldman Sachs ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Peter Fortner</ncom:signature>
      <ncom:signerName>Peter Fortner</ncom:signerName>
      <ncom:title>Vice President Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
