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        <name>Washington Suburban Sanitary Commission</name>
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        <name>South Dakota Housing Development Authority</name>
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        <name>Utah Associated Municipal Power Systems</name>
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        <name>New York State Dormitory Authority</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>Iowa Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Colorado Housing and Finance Authority</name>
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      <invstOrSec>
        <name>Fairfax County Industrial Development Authority</name>
        <lei>N/A</lei>
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          <maturityDt>2042-05-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Public Finance Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-12-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Mentorship Steam Academy Project, Series 2021A</title>
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          <isin value="US546399LS30"/>
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        <valUSD>377807.85000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Build NYC Resource Corp.</name>
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        <title>Build NYC Resource Corp., Kipp NYC Public School Facilities - Canal West Project</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>University of Illinois Auxiliary Facilities System</name>
        <lei>N/A</lei>
        <title>University of Illinois Auxiliary Facilities System, Series 2024A</title>
        <cusip>914354AU9</cusip>
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          <isin value="US914354AU99"/>
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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>2043-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, Adventist Health System, Series 2024A</title>
        <cusip>13032UT65</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Iowa Finance Authority</name>
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        <title>Iowa Finance Authority, Senior Living Facility, Sunrise Retirement Community Project</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Northeast Ohio Medical University</name>
        <lei>N/A</lei>
        <title>Northeast Ohio Medical University, Series 2022</title>
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        <fairValLevel>2</fairValLevel>
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        <name>North Carolina Housing Finance Agency</name>
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        <name>New York City Municipal Water Finance Authority</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
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        <name>Shelby County Health Educational &amp; Housing Facilities Board</name>
        <lei>N/A</lei>
        <title>Shelby County Health Educational and Housing Facilities Board, Baptism Memorial Health Obligated Group, Series 2024B</title>
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        <name>New York State Environmental Facilities Corp.</name>
        <lei>549300QJ33JJW73OQO60</lei>
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        <name>Metropolitan Atlanta Rapid Transit Authority</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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        <name>City of Chicago IL Waterworks Revenue</name>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Village Community Development District No. 15</name>
        <lei>N/A</lei>
        <title>Village Community Development District No. 15</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Foothill-De Anza Community College District</name>
        <lei>N/A</lei>
        <title>Foothill-De Anza Community College District</title>
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          <isin value="US345102MW46"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
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        <cusip>340618DQ7</cusip>
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          <isin value="US340618DQ76"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Iowa Finance Authority</name>
        <lei>549300NQVL49BTHOW391</lei>
        <title>Iowa Finance Authority, Senior Living Facility, Sunrise Retirement Community Project</title>
        <cusip>46247CBW8</cusip>
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          <isin value="US46247CBW82"/>
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        <balance>195000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>190218.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lakota Local School District/Butler County</name>
        <lei>N/A</lei>
        <title>Lakota Local School District, Series 2005</title>
        <cusip>512804RD9</cusip>
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          <isin value="US512804RD99"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1516697.70000000</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>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Main Street Natural Gas, Inc.</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
        <title>Main Street Natural Gas, Inc., Gas Supply, Series 2021C</title>
        <cusip>56035DCZ3</cusip>
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          <isin value="US56035DCZ33"/>
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        <curCd>USD</curCd>
        <valUSD>2052022.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Joaquin Valley Clean Energy Authority</name>
        <lei>254900VA5DFN33OVGH87</lei>
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        <cusip>79811YAK4</cusip>
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          <isin value="US79811YAK47"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-01-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>City of Atlanta Water and Wastewater</name>
        <lei>N/A</lei>
        <title>City of Atlanta Water and Wastewater, Series 2024</title>
        <cusip>047870TE0</cusip>
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          <isin value="US047870TE01"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Oregon Health and Science University</name>
        <lei>549300XTWOAGON8L2G98</lei>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Minnesota Housing Finance Agency</name>
        <lei>549300R89XDTQBK4GE22</lei>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>Missouri State Environmental Improvement &amp; Energy Resources Authority</name>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority, Series 2025-1</title>
        <cusip>63607WBD5</cusip>
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        <name>West Virginia Hospital Finance Authority</name>
        <lei>N/A</lei>
        <title>West Virginia Hospital Finance Authority, University Health System, Series 2023A</title>
        <cusip>956622V68</cusip>
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          <isin value="US956622V685"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Clean Energy Project, Series 2024D</title>
        <cusip>13013JFD3</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2055-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Triborough Bridge &amp; Tunnel Authority</name>
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        <invCountry>US</invCountry>
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        <name>Gainesville &amp; Hall County Hospital Authority</name>
        <lei>N/A</lei>
        <title>Gainesville and Hall County Hospital Authority, Northeast Georgia Health System, Inc., Project</title>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority, Climate Bond, Series 2025A</title>
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        <name>Wisconsin Housing &amp; Economic Development Authority Home Ownership Revenue</name>
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          <isin value="US97689QWD41"/>
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        <name>University of Cincinnati</name>
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        <name>Housing Options, Inc.</name>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <name>City of Chicago IL Waterworks Revenue</name>
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        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
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        <name>Mission Economic Development Corp.</name>
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      <invstOrSec>
        <name>Orchard Farm R-V School District</name>
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        <name>Vancouver Housing Authority</name>
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        <name>Camden County Improvement Authority (The)</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Washington State Housing Finance Commission</name>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <name>Washington State Housing Finance Commission</name>
        <lei>549300YL1HU59NREG764</lei>
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        <name>City of Jeffersonville IN</name>
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        <name>Louisiana Housing Corp.</name>
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        <name>Virginia Small Business Financing Authority</name>
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        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, KIPP NYC Public Charter Schools Jerome Facility Project, Series 2021B</title>
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      <invstOrSec>
        <name>Oregon State Facilities Authority</name>
        <lei>N/A</lei>
        <title>Oregon State Facilities Authority, Peacehealth, Series 2018A</title>
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          <isin value="US68608JXD89"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Washington State Housing Finance Commission</name>
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        <name>City of Charlotte NC Water &amp; Sewer System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>City of Detroit MI</name>
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        <name>Roswell Development Authority</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>New York State Dormitory Authority</name>
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        <name>Redevelopment Authority of the City of Philadelphia</name>
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        <name>Miami-Dade County Educational Facilities Authority</name>
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        <name>Missouri Housing Development Commission</name>
        <lei>5493007FBL7WCV3NKY25</lei>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority, CHF- Tippecanoe LLC- Student Housing Project, Series 2023A</title>
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        <name>Michigan State Hospital Finance Authority</name>
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        <name>Illinois Housing Development Authority</name>
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          <maturityDt>2054-10-01</maturityDt>
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        <name>Pennsylvania Economic Development Financing Authority</name>
        <lei>N/A</lei>
        <title>Pennsylvania Economic Development Financing Authority, Presbyterian Senior Living Homes, Series 2021</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Gloversville Enlarged School District</name>
        <lei>N/A</lei>
        <title>Gloversville Enlarged School District</title>
        <cusip>379874JE1</cusip>
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          <isin value="US379874JE14"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Kentucky Public Energy Authority</name>
        <lei>549300XEJZWHYSY4SL55</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Onondaga Civic Development Corp.</name>
        <lei>N/A</lei>
        <title>Onondaga Civic Development Corp., Syracuse University Project</title>
        <cusip>682832LK4</cusip>
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          <isin value="US682832LK44"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Northampton County General Purpose Authority</name>
        <lei>N/A</lei>
        <title>Northampton County General Purpose Authority,St. Luke's Hospital Obligated Group, Series 2024A-1</title>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>Dominion Water &amp; Sanitation District</name>
        <lei>N/A</lei>
        <title>Dominion Water and Sanitation District</title>
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        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Series 2025A</title>
        <cusip>546399UP9</cusip>
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          <isin value="US546399UP99"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Series 2025A</title>
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          <maturityDt>2055-05-15</maturityDt>
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      <invstOrSec>
        <name>American Municipal Power, Inc.</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
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        <name>Build NYC Resource Corp.</name>
        <lei>549300GROJFKMNLWEK84</lei>
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        <invCountry>US</invCountry>
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          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>Shelby County Health Educational &amp; Housing Facilities Board</name>
        <lei>N/A</lei>
        <title>Shelby County Health Educational and Housing Facilities Board, The Farms at Bailey Station Project, Series 2019A</title>
        <cusip>82170KAG2</cusip>
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          <isin value="US82170KAG22"/>
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        <valUSD>661722.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>City of Los Angeles CA Wastewater System Revenue</name>
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        <name>City of Lake Havasu City AZ Wastewater System Revenue</name>
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        <name>Mansfield Independent School District</name>
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        <name>University of Kentucky</name>
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        <name>Maricopa County Union High School District No. 216 Agua Fria</name>
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        <name>Camden Central School District</name>
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        <name>North Carolina Medical Care Commission</name>
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        <name>Nebraska Investment Finance Authority</name>
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        <name>Public Finance Authority</name>
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        <name>Iowa Finance Authority</name>
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        <name>Wisconsin Housing &amp; Economic Development Authority Home Ownership Revenue</name>
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        <name>Colorado Health Facilities Authority</name>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
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        <name>Florida Atlantic University Finance Corp.</name>
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        <name>Tarrant Regional Water District Water Supply System Revenue</name>
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        <name>Via Metropolitan Transit Advanced Transportation District Sales Tax Revenue</name>
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        <name>City of Aurora IL Single Family Mortgage Revenue</name>
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        <name>Maricopa County Union High School District No. 216 Agua Fria</name>
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        <name>California Pollution Control Financing Authority</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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        <name>Monroe County Industrial Development Corp.</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <name>New York City Municipal Water Finance Authority</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>Northeastern Clinton Central School District</name>
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        <name>Bucks County Water and Sewer Authority</name>
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        <name>City of Toledo OH Water System Revenue</name>
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          <maturityDt>2032-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Lee County Industrial Development Authority</name>
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          <isin value="US52350LAK61"/>
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          <maturityDt>2036-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Illinois Finance Authority</name>
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          <maturityDt>2039-10-01</maturityDt>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Louisiana Public Facilities Authority</name>
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          <isin value="US546399JU14"/>
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          <maturityDt>2045-04-01</maturityDt>
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        <name>Minnesota Housing Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Shelby County Health &amp; Educational Facilities Board</name>
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        <name>Desert Community College District</name>
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        <title>Desert Community College District, Election of 2016</title>
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          <maturityDt>2051-08-01</maturityDt>
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        <name>JPMorgan Institutional Tax Free Money Market Fund</name>
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        <issuerCat>RF</issuerCat>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Sherburne Earlville Central School District</name>
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        <title>Sherburne Earlville Central School District</title>
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        <name>North Texas Municipal Water District</name>
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        <name>South Dakota Housing Development Authority</name>
        <lei>549300G853EK61667C18</lei>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Series 2025B</title>
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        <name>New Mexico Mortgage Finance Authority</name>
        <lei>N/A</lei>
        <title>New Mexico Mortgage Finance Authority, Santee Apartments and Sangre De Cristo Project</title>
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        <name>California School Finance Authority</name>
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        <name>Washington Metropolitan Area Transit Authority Dedicated Revenue</name>
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        <name>Dominion Water &amp; Sanitation District</name>
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          <maturityDt>2027-12-01</maturityDt>
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        <name>Maricopa County Industrial Development Authority</name>
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      <invstOrSec>
        <name>Washington Metropolitan Area Transit Authority Dedicated Revenue</name>
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        <name>Texas Water Development Board</name>
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        <name>Michigan Finance Authority</name>
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        <name>Vermont Student Assistance Corp.</name>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Green Dot Public Schools Project, Series 2022A</title>
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      <invstOrSec>
        <name>City of Goshen IN</name>
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          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Detroit MI</name>
        <lei>549300BQRJP7MKKHOY28</lei>
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          <isin value="US2510934U17"/>
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          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Multi-Family Housing, Bond Pass-Through Certificates</name>
        <lei>N/A</lei>
        <title>Multi-Family Housing, Bond Pass-Through Certificates, Grand Reserve Apartments, Series 8</title>
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          <isin value="US62544MCD48"/>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.95000080</annualizedRt>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp., JFK International Airport New Terminal One Project, Series 2023</title>
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          <isin value="US650116GX81"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Illinois Housing Development Authority</name>
        <lei>54930053Z6M9JVHBQZ16</lei>
        <title>Illinois Housing Development Authority, Series 2025A</title>
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          <isin value="US45203MK340"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
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          <isin value="US546399LN43"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>IPS Multi-School Building Corp.</name>
        <lei>549300BHLK1DUJUYPM91</lei>
        <title>IPS Multi-School Building Corp., Ad Valorem Property Tax First Mortgage, Series 2024</title>
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          <isin value="US46263RUB94"/>
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        <balance>1350000.00000000</balance>
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        <valUSD>1364552.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Harris County Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
        <title>Harris County Cultural Education Facilities Finance Corp., Memorial Hermann Health System, Series 2020C-3</title>
        <cusip>414009PP9</cusip>
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          <isin value="US414009PP99"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Philadelphia Energy Authority (The)</name>
        <lei>N/A</lei>
        <title>Philadelphia Energy Authority (The), Philadelphia Street Lighting Project, Series 2023A</title>
        <cusip>71780UAR1</cusip>
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          <isin value="US71780UAR14"/>
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        <balance>750000.00000000</balance>
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        <valUSD>773842.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority, New York University, Series 2024</title>
        <cusip>65000BT73</cusip>
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          <isin value="US65000BT737"/>
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        <balance>2400000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>California Pollution Control Financing Authority</name>
        <lei>N/A</lei>
        <title>California Pollution Control Financing Authority, Poseidon Resources Channelside LP Desalination Project</title>
        <cusip>13054WBB2</cusip>
        <identifiers>
          <isin value="US13054WBB28"/>
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        <balance>250000.00000000</balance>
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        <valUSD>259646.30000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hillsborough County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Hillsborough County Industrial Development Authority, Baycare Health System, Series 2024E</title>
        <cusip>43233KAX2</cusip>
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          <isin value="US43233KAX28"/>
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        <balance>675000.00000000</balance>
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        <valUSD>675000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.00000070</annualizedRt>
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        <name>County of King Sewer Revenue</name>
        <lei>N/A</lei>
        <title>County of King Sewer, Series 2016A</title>
        <cusip>4952893L2</cusip>
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          <isin value="US4952893L27"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp., Central Charter School Project, Series 2022</title>
        <cusip>34061ULH9</cusip>
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          <isin value="US34061ULH94"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-15</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>Washington State Housing Finance Commission</name>
        <lei>549300YL1HU59NREG764</lei>
        <title>Washington State Housing Finance Commission, Seattle Academy Of Arts and Science Project, Series 2023</title>
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          <isin value="US93978LGL45"/>
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          <annualizedRt>5.12500000</annualizedRt>
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        <name>Massachusetts Water Resources Authority</name>
        <lei>549300GBS2G3YGHOYO19</lei>
        <title>Massachusetts Water Resources Authority, Green Bond, Series 2016C</title>
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          <isin value="US576051PN03"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>New York City Municipal Water Finance Authority</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
        <title>New York City Municipal Water Finance Authority, Second General Resolution, Series 2025BB</title>
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          <isin value="US64972GL445"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Minnesota Housing Finance Agency</name>
        <lei>549300R89XDTQBK4GE22</lei>
        <title>Minnesota Housing Finance Agency, Series 2022M</title>
        <cusip>60416TYA0</cusip>
        <identifiers>
          <isin value="US60416TYA05"/>
        </identifiers>
        <balance>1070000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1132207.02000000</valUSD>
        <pctVal>0.422049097827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>American Municipal Power, Inc.</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
        <title>American Municipal Power, Inc., Solar Electricity Prepayment Project, Series 2019A</title>
        <cusip>02765MAR3</cusip>
        <identifiers>
          <isin value="US02765MAR34"/>
        </identifiers>
        <balance>825000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>858038.45000000</valUSD>
        <pctVal>0.319848179110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</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>Colorado Health Facilities Authority</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority, Adventist Health System, Series 2024A-1</title>
        <cusip>19648FYN8</cusip>
        <identifiers>
          <isin value="US19648FYN85"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1067446.20000000</valUSD>
        <pctVal>0.397908419335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-11-15</maturityDt>
          <couponKind>Variable</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>Jefferson County Port Authority</name>
        <lei>N/A</lei>
        <title>Jefferson County Port Authority, JSW Steel USA Ohio, Inc., Project, Series 2023</title>
        <cusip>473318AB9</cusip>
        <identifiers>
          <isin value="US473318AB94"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000745.60000000</valUSD>
        <pctVal>0.373044655415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Variable</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>








    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>J.P. Morgan Exchange-Traded Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
