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        <name>GAITHERSBURG MD EC 5% 01/01/27</name>
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        <name>NORTH CAROLINA ST  4% 10/01/40</name>
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        <name>PIMA CNTY AZ INDL  5% 06/15/49</name>
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        <name>HUNTSVILLE-REDST 5.5% 01/01/28</name>
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        <name>LOUISIANA PUB FACS 5% 12/15/43</name>
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        <name>CALIFORNIA HSG FIN 4% 03/20/33</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PUERTO RICO ELEC P 5% 07/01/22</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <cusip>74526QXF4</cusip>
        <identifiers>
          <isin value="US74526QXF44"/>
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        <curCd>USD</curCd>
        <valUSD>2775.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>ARROWHEAD SPRI 5.625% 12/01/54</name>
        <lei>N/A</lei>
        <title>ARROWHEAD SPRINGS PUBLIC INFRA REGD B/E 5.62500000</title>
        <cusip>04280BAA6</cusip>
        <identifiers>
          <isin value="US04280BAA61"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>325106.08000000</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>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SANTA CLARITA CA C 4% 09/01/35</name>
        <lei>N/A</lei>
        <title>SANTA CLARITA CA CMNTY FACS DI REGD B/E 4.00000000</title>
        <cusip>801687CS1</cusip>
        <identifiers>
          <isin value="US801687CS15"/>
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        <balance>800000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>754919.68000000</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>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAINT LOUIS MO 3.875% 11/15/29</name>
        <lei>549300WTUL8KX1FOUZ40</lei>
        <title>SAINT LOUIS MO INDL DEV AUTH F REGD OID B/E 3.87500000</title>
        <cusip>85236BAA0</cusip>
        <identifiers>
          <isin value="US85236BAA08"/>
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        <balance>120000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>115394.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LAVON TX SPL A 4.375% 09/15/31</name>
        <lei>N/A</lei>
        <title>LAVON TX SPL ASSMT REVENUE REGD N/C B/E 4.37500000</title>
        <cusip>51946PCF9</cusip>
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          <isin value="US51946PCF99"/>
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        <balance>294000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>288820.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WI 5% 07/01/55</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FIN AUTH WI CHRT SCH RE REGD B/E 5.00000000</title>
        <cusip>744396FT4</cusip>
        <identifiers>
          <isin value="US744396FT49"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>556907.85000000</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>2055-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MAIN STREET NATUR V/R 06/01/53</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
        <title>MAIN STREET NATURAL GAS INC GA REGD V/R B/E 5.00000000</title>
        <cusip>56035DEN8</cusip>
        <identifiers>
          <isin value="US56035DEN84"/>
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        <balance>240000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>250641.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NEW HAMPSHIRE ST H 5% 10/01/46</name>
        <lei>549300CNCK7OT82W5653</lei>
        <title>NEW HAMPSHIRE ST HLTH &amp; EDU FA REGD B/E 5.00000000</title>
        <cusip>6446143Q0</cusip>
        <identifiers>
          <isin value="US6446143Q05"/>
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        <balance>415000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>417090.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>LTC RANCH WEST  5.75% 05/01/44</name>
        <lei>N/A</lei>
        <title>LTC RANCH WEST RSDL CMNTY DEV REGD B/E 5.75000000</title>
        <cusip>50218SAK7</cusip>
        <identifiers>
          <isin value="US50218SAK78"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1153295.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WI 4% 07/01/51</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FIN AUTH WI STUDENT HSG REGD B/E 4.00000000</title>
        <cusip>74439YDW8</cusip>
        <identifiers>
          <isin value="US74439YDW84"/>
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        <balance>450000.00000000</balance>
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        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
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      <invstOrSec>
        <name>JORDANELLE RIDG 7.75% 03/01/54</name>
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        <cusip>480790AA2</cusip>
        <identifiers>
          <isin value="US480790AA22"/>
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        <name>SOUTH CAROLINA J 7.5% 11/15/53</name>
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        <name>DIST OF COLUMBIA T 0% 06/01/49</name>
        <lei>549300HWFOZXPKGOX654</lei>
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        <name>FITZSIMONS VLG  4.25% 12/01/55</name>
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      <invstOrSec>
        <name>LOUISIANA PUB F 5.75% 09/01/64</name>
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        <name>CHARLOTTE NC ARPT  4% 07/01/39</name>
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      <invstOrSec>
        <name>DIST OF COLUMBI 5.25% 01/01/39</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>DIST OF COLUMBIA REVENUE REGD OID B/E 5.25000000</title>
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        <name>HOGBACK MET DIST C 5% 12/01/41</name>
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        <name>CHICAGO IL WTRWKS  5% 11/01/26</name>
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      <invstOrSec>
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        <name>RED BARN MET DIS 5.5% 12/01/55</name>
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        <name>AUSTIN CONVENTION  5% 01/01/33</name>
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        <name>KENT CNTY DE STUDE 5% 07/01/40</name>
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        <name>LAKES OF SARASOT 4.3% 05/01/51</name>
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        <name>WASHINGTON ST HGR  4% 05/01/45</name>
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        <name>CHICAGO IL TRANSIT 4% 12/01/49</name>
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        <name>PUERTO RICO ELEC 5.5% 07/01/18</name>
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        <name>MET PIER &amp; EXPOSI ZCP 06/15/28</name>
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        <name>PUERTO RICO ELE 5.25% 07/01/23</name>
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        <name>PUERTO RICO ELEC P 5% 07/01/18</name>
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      <invstOrSec>
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        <name>CALIFORNIA CMNTY H 4% 08/01/51</name>
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        <name>AUSTIN TX ARPT SYS 5% 11/15/43</name>
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      <invstOrSec>
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        <name>GUAM GOVT 5% 11/15/31</name>
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        <name>GEO L SMITH II 3.625% 01/01/31</name>
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          <isin value="US37255MAD74"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PHILADELPHIA PA AU 4% 06/01/56</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PUERTO RICO ELE 6.75% 07/01/36</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ILLINOIS ST HSG 6.25% 10/01/55</name>
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        <cusip>45203MK34</cusip>
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        <balance>5000000.00000000</balance>
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      <invstOrSec>
        <name>DENTON CNTY TX SPL 6% 12/31/44</name>
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        <cusip>24880GAE9</cusip>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-12-31</maturityDt>
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      <invstOrSec>
        <name>KENTUCKY ST ECO 5.25% 06/01/50</name>
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        <cusip>49126KHT1</cusip>
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          <isin value="US49126KHT16"/>
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        <balance>955000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>VIERA STEWARDSHI 5.5% 05/01/54</name>
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        <name>LOWER COLORADO RIV 6% 05/15/52</name>
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        <name>NFA 2024-4 BCA V/R 07/20/40</name>
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        <name>PUERTO RICO CMWLT V/R 11/01/51</name>
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        <name>PUERTO RICO ELEC 5.5% 07/01/20</name>
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        <name>PORTLAND OR SWR SY 5% 10/01/54</name>
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        <name>ARIZONA INDL DEV A 5% 07/01/57</name>
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        <name>MARYLAND ST ECON D 4% 09/01/50</name>
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        <name>IRVINE CA IMPT BON 4% 09/02/27</name>
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        <name>GLENDALE AZ INDL D 4% 07/01/28</name>
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          <isin value="US378286JQ22"/>
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        <balance>245000.00000000</balance>
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        <name>WINDLER PUB IM 4.125% 12/01/51</name>
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        <name>MAIN STREET NATUR V/R 12/01/52</name>
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        <name>VELOCITY MET DIS 5.5% 12/01/48</name>
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        <name>FRETE 2023-ML17  V/R 04/25/43</name>
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        <name>MARYLAND ST EC 4.375% 07/01/36</name>
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        <name>DIST OF COLUMBIA R 5% 07/01/39</name>
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        <name>MISSOURI ST HLTH &amp; 5% 02/01/46</name>
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        <name>ONEIDA INDIAN N 7.25% 09/01/34</name>
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        <name>MET PIER &amp; EXPOSI ZCP 12/15/39</name>
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        <name>LOS ANGELES CA HSG 6% 12/01/62</name>
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      <invstOrSec>
        <name>BALTIMORE MD CONVE 5% 09/01/30</name>
        <lei>N/A</lei>
        <title>BALTIMORE MD CONVENTION CENTER REGD B/E 5.00000000</title>
        <cusip>05921PBW8</cusip>
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          <isin value="US05921PBW86"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MET PIER &amp; EXPOSI ZCP 12/15/56</name>
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      <invstOrSec>
        <name>LOS ANGELES CA DEP 5% 07/01/48</name>
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        <cusip>544532NW0</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STAMFORD CT HSG 4.75% 10/01/32</name>
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        <cusip>852640AE1</cusip>
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          <isin value="US852640AE12"/>
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        <balance>470000.00000000</balance>
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      <invstOrSec>
        <name>UPPER IL RIVER  5.25% 12/01/37</name>
        <lei>N/A</lei>
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        <cusip>91588XAC0</cusip>
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          <isin value="US91588XAC02"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-12-01</maturityDt>
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        <name>WESTVIEW SOUTH C 5.6% 05/01/53</name>
        <lei>N/A</lei>
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        <cusip>961566AC0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SABELL MET DIST CO 5% 12/01/50</name>
        <lei>N/A</lei>
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        <cusip>78517NAA9</cusip>
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        <balance>555000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>PENNSYLVANIA ST TU 4% 12/01/51</name>
        <lei>N/A</lei>
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        <cusip>709221VZ5</cusip>
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          <isin value="US709221VZ52"/>
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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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      <invstOrSec>
        <name>GUAM INTERNATIO 5.25% 10/01/41</name>
        <lei>N/A</lei>
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        <cusip>40064RFX2</cusip>
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        <balance>50000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PUBLIC FIN AUTH  4.5% 07/15/49</name>
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        <cusip>74442EMF4</cusip>
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        <balance>800000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>HONOLULU CITY &amp; CN 3% 07/01/41</name>
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        <cusip>438701J47</cusip>
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        <name>ARLINGTON TX HG 4.75% 08/15/44</name>
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        <cusip>041807GY8</cusip>
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        <name>ILLINOIS ST 4.25% 10/01/45</name>
        <lei>54930048FV8RWPR02D67</lei>
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        <cusip>4521527H8</cusip>
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        <name>NEW HAMPSHIRE ST H 5% 11/01/43</name>
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        <name>PUERTO RICO ELE 5.25% 07/01/24</name>
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        <name>SOUTH CAROLINA ST  5% 04/01/47</name>
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        <name>LOUISIANA ST LOC 3.5% 11/01/32</name>
        <lei>5493004WIZ1HV87IVF85</lei>
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      <invstOrSec>
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        <name>WILLOW BEND MET DI 5% 12/01/49</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INDIANA ST FIN A 1.4% 08/01/29</name>
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        <name>DIST OF COLUMBIA T 0% 06/01/41</name>
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        <name>SPARKS NV SPL IMPT 5% 06/01/44</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>NEW JERSEY ST HGR  4% 12/01/44</name>
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        <name>ARIZONA ST HLTH F V/R 01/01/37</name>
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        <name>ILLINOIS ST HSG DE 3% 04/01/51</name>
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        <name>ORANGE CNTY FL HLT 4% 10/01/52</name>
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        <name>RHODE ISLAND ST ST 5% 12/01/26</name>
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        <name>ARLINGTON TX HGR E 4% 08/15/36</name>
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        <name>KENTUCKY ST HSG 6.25% 01/01/55</name>
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        <name>FLORIDA ST DEV F 5.5% 06/01/59</name>
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        <name>ESSEX CNTY NJ IMPT 4% 06/15/46</name>
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        <name>HENDERSON KY EXE 4.7% 01/01/52</name>
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        <name>NORTH CAROLINA ST  4% 03/01/51</name>
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        <name>GARLAND TX INDEP S 5% 02/15/48</name>
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        <name>NEW JERSEY ST ECON 5% 01/01/30</name>
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        <name>WASHINGTON ST HSG  5% 01/01/38</name>
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        <name>MACON-BIBB CNTY 5.75% 06/15/37</name>
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        <name>WEST VIRGINIA ST H 6% 09/01/53</name>
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        <name>NEW JERSEY ST TRA ZCP 12/15/28</name>
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        <name>KENTUCKY ST HSG 6.25% 07/01/55</name>
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        <name>WEST VIRGINIA ST P 4% 06/01/51</name>
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        <name>PENNSYLVANIA ST H V/R 07/01/39</name>
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        <name>NEW HOPE CULTU 3.375% 08/15/29</name>
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        <name>FIDDLERS CANYO 5.625% 12/01/53</name>
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        <name>TEMPE AZ INDL DEV  4% 12/01/46</name>
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        <name>SKYRIDGE PEGASU 5.25% 12/01/44</name>
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      <invstOrSec>
        <name>CHICAGO IL BRD OF  5% 12/01/47</name>
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      <invstOrSec>
        <name>PUERTO RICO ELEC P 5% 07/01/19</name>
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      <invstOrSec>
        <name>NEWLIN CROSSIN 5.375% 12/01/54</name>
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      <invstOrSec>
        <name>V-DANA CDD FL S 5.55% 05/01/55</name>
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        <name>ILLINOIS ST FIN AU 5% 08/15/35</name>
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        <name>MONONGALIA CNT 4.125% 06/01/43</name>
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        <name>SAN DIEGO CNTY CA  5% 07/01/48</name>
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      <invstOrSec>
        <name>TEXAS ST TRANSPRTN 5% 08/15/39</name>
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      <invstOrSec>
        <name>INDEPENDENCE M 7.125% 12/15/54</name>
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        <cusip>453625AE5</cusip>
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          <isin value="US453625AE59"/>
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        <balance>564000.00000000</balance>
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        <valUSD>563413.21000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHICAGO IL 5% 01/01/44</name>
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        <cusip>167486E21</cusip>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>OHIO ST AIR QUALIT 5% 07/01/49</name>
        <lei>549300DZUU80AYOR6M80</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW YORK CITY NY T 4% 02/01/51</name>
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        <name>STEEL POINT INFRAS 4% 04/01/51</name>
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        <name>TULSA CNTY OK I 5.25% 11/15/37</name>
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        <name>NEW YORK ST DORM A 5% 12/01/26</name>
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        <name>FLORIDA ST DEV FIN 4% 06/15/42</name>
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        <name>SALEM OR HOSP FAC  4% 05/15/57</name>
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      <invstOrSec>
        <name>PENNSYLVANIA ST 5.25% 07/01/49</name>
        <lei>N/A</lei>
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        <cusip>70869PPB7</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WI 5% 07/01/37</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FIN AUTH WI EDU REVENUE REGD B/E 5.00000000</title>
        <cusip>74442ECA6</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>CONNECTICUT ST HL V/R 07/01/42</name>
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        <cusip>20775DTS1</cusip>
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          <isin value="US20775DTS17"/>
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        <curCd>USD</curCd>
        <valUSD>15000000.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>PUERTO RICO ELE 4.25% 07/01/18</name>
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        <cusip>74526QWN8</cusip>
        <identifiers>
          <isin value="US74526QWN86"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LAKEWOOD RANCH  5.45% 05/01/48</name>
        <lei>N/A</lei>
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        <cusip>51265KBT4</cusip>
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          <isin value="US51265KBT43"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-05-01</maturityDt>
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      <invstOrSec>
        <name>NEW YORK ST TRAN 5.5% 06/30/54</name>
        <lei>N/A</lei>
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        <cusip>650116HM1</cusip>
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          <isin value="US650116HM18"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-30</maturityDt>
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      <invstOrSec>
        <name>NORTH CAROLINA ST  5% 10/01/30</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>NORTH CAROLINA ST MED CARE COM REGD B/E 5.00000000</title>
        <cusip>65821DTG6</cusip>
        <identifiers>
          <isin value="US65821DTG69"/>
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        <balance>550000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NEW MEXICO ST M 5.75% 03/01/56</name>
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        <cusip>6472012P6</cusip>
        <identifiers>
          <isin value="US6472012P67"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-03-01</maturityDt>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WI 5% 07/01/55</name>
        <lei>5493004S6D3NA627K012</lei>
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        <cusip>744396KG6</cusip>
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        <balance>880000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FLORIDA HSG FIN 6.25% 01/01/56</name>
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        <fairValLevel>2</fairValLevel>
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        <name>POLK CNTY FL INDL  5% 01/01/39</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PUERTO RICO CMWLT V/R 11/01/51</name>
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        <name>OKLAHOMA ST DEV  5.5% 08/15/52</name>
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        <name>FRANKLIN CNTY PA I 5% 12/01/53</name>
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        <name>NEW YORK ST DORM 5.5% 11/01/47</name>
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      <invstOrSec>
        <name>SIERRA VISTA AZ IN 5% 06/15/64</name>
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      <invstOrSec>
        <name>NEW YORK ST THRUWA 4% 01/01/47</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TULSA CNTY OK I 5.25% 11/15/45</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DETROIT MI 5.5% 04/01/45</name>
        <lei>549300BQRJP7MKKHOY28</lei>
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        <name>PUERTO RICO ELEC P 5% 07/01/26</name>
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          <isin value="US74526QKU57"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEWARK HGR EDU FIN 4% 08/15/41</name>
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      <invstOrSec>
        <name>MISSOURI ST HLTH &amp; 4% 02/01/42</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PUBLIC FIN AUT 5.375% 07/01/47</name>
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        <name>GAITHERSBURG MD EC 5% 01/01/33</name>
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        <name>SOUTH DAKOTA ST 6.25% 11/01/55</name>
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        <name>ROCKVILLE MD MAYOR 5% 11/01/37</name>
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        <name>AVENIR FL CDD  5.625% 05/01/54</name>
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        <name>MONTGOMERY CNTY TX 5% 09/15/37</name>
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        <name>HENRICO CNTY VA EC 5% 10/01/47</name>
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        <name>SAINT JOHNS CNTY F 4% 12/15/50</name>
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        <name>GAITHERSBURG M 5.125% 01/01/42</name>
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        <name>MET WASHINGTON DC ZCP 10/01/40</name>
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        <name>CHICAGO IL BRD OF ZCP 12/01/27</name>
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        <name>GOLDEN ST TOBACCO ZCP 06/01/66</name>
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        <name>PENNSYLVANIA ST EC 5% 12/31/26</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>LAS VEGAS NV SPL I 5% 12/01/54</name>
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        <name>MICHIGAN ST HSG DE 6% 06/01/54</name>
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      <invstOrSec>
        <name>JEFFERSON PARI 5.625% 06/15/48</name>
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        <name>CALIFORNIA ST STWD 5% 09/02/52</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RIVER ISLANDS CA P 5% 09/01/48</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ILLINOIS ST FIN AU 5% 07/01/35</name>
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        <name>BLACK BELT ENERGY V/R 12/01/53</name>
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        <name>WAYNE CNTY MI ARPT 5% 12/01/42</name>
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        <name>FARMVILLE VA INDL  5% 01/01/32</name>
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          <maturityDt>2032-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PUERTO RICO ELEC P 5% 07/01/32</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELEC PWR AUTH PWRR REGD B/E 5.00000000</title>
        <cusip>74526QU26</cusip>
        <identifiers>
          <isin value="US74526QU264"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>72150.00000000</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>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MONTGOMERY CNTY  4.9% 07/01/55</name>
        <lei>549300HDL0LLRHMDL092</lei>
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        <cusip>613350AV9</cusip>
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          <isin value="US613350AV90"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1003622.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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      <invstOrSec>
        <name>MINNESOTA ST OF 2.65% 11/01/38</name>
        <lei>N/A</lei>
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        <cusip>60416MBS1</cusip>
        <identifiers>
          <isin value="US60416MBS17"/>
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        <balance>455000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>406068.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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      <invstOrSec>
        <name>CLIFTON TX HGR  6.25% 06/15/53</name>
        <lei>N/A</lei>
        <title>CLIFTON TX HGR EDU FIN CORP ED REGD OID B/E 6.25000000</title>
        <cusip>187145RF6</cusip>
        <identifiers>
          <isin value="US187145RF62"/>
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        <balance>350000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>351288.98000000</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>2053-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>NEW HOPE CULTURA 5.5% 11/15/46</name>
        <lei>N/A</lei>
        <title>NEW HOPE CULTURAL ED FACS FIN REGD B/E 5.50000000</title>
        <cusip>64542UCZ5</cusip>
        <identifiers>
          <isin value="US64542UCZ57"/>
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        <balance>70000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57291.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON ST HSG  5% 07/01/48</name>
        <lei>549300YL1HU59NREG764</lei>
        <title>WASHINGTON ST HSG FIN COMMISSI REGD B/E 5.00000000</title>
        <cusip>939783WL6</cusip>
        <identifiers>
          <isin value="US939783WL68"/>
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        <balance>145000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>130120.00000000</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>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSCDA CMNTY IMPT 2.8% 03/01/47</name>
        <lei>N/A</lei>
        <title>CSCDA CMNTY IMPT AUTH CA ESSEN REGD B/E 2.80000000</title>
        <cusip>126292BA8</cusip>
        <identifiers>
          <isin value="US126292BA80"/>
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        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>115439.91000000</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>2047-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WI 5% 02/01/54</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FIN AUTH WI EDUCTNL FAC REGD B/E 5.00000000</title>
        <cusip>74443DKY6</cusip>
        <identifiers>
          <isin value="US74443DKY66"/>
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        <balance>500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>490233.65000000</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>2054-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTHEAST ENERGY  V/R 03/01/55</name>
        <lei>25490090A3RLJHITY273</lei>
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        <cusip>84136HBT9</cusip>
        <identifiers>
          <isin value="US84136HBT95"/>
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        <balance>1715000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1799954.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK ST TRANSP 5% 01/01/29</name>
        <lei>N/A</lei>
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        <cusip>650116CH7</cusip>
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          <isin value="US650116CH77"/>
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        <balance>1545000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1590900.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>HOUSTON TX ARPT 5.25% 07/15/33</name>
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        <cusip>442349HT6</cusip>
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          <isin value="US442349HT61"/>
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        <balance>2790000.00000000</balance>
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        <valUSD>2910601.66000000</valUSD>
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          <maturityDt>2033-07-15</maturityDt>
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      <invstOrSec>
        <name>VIRGINIA ST SMALL V/R 01/01/48</name>
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        <cusip>928106AQ6</cusip>
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          <isin value="US928106AQ62"/>
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        <balance>500000.00000000</balance>
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        <name>NEW YORK ST URBAN  4% 03/15/49</name>
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        <name>COLUMBUS-FRANKLIN  5% 12/01/51</name>
        <lei>549300NX3ODQN2ETOO82</lei>
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        <cusip>19910RAE9</cusip>
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        <name>ARIZONA INDL DEV A 5% 07/15/50</name>
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        <name>LOS ANGELES CA DEP 4% 05/15/44</name>
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        <invCountry>US</invCountry>
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        <name>COLORADO ST HLTH F 4% 05/15/35</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>COLORADO ST HLTH FACS AUTH REV REGD B/E 4.00000000</title>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
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        <name>CLIFTON TX HGR EDU 5% 12/01/35</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>REGL TRANSPRTN  5.75% 06/01/34</name>
        <lei>549300FOIPI62F5YFO59</lei>
        <title>REGL TRANSPRTN AUTH IL REGD N/C B/E AGM 5.75000000</title>
        <cusip>759911ZV5</cusip>
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          <isin value="US759911ZV52"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOUISVILLE &amp; JEFFE 2% 10/01/33</name>
        <lei>N/A</lei>
        <title>LOUISVILLE &amp; JEFFERSON CNTY KY REGD B/E 2.00000000</title>
        <cusip>546749AT9</cusip>
        <identifiers>
          <isin value="US546749AT96"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MONTGOMERY CNTY TX 5% 09/15/33</name>
        <lei>N/A</lei>
        <title>MONTGOMERY CNTY TX TOLL ROAD A REGD B/E 5.00000000</title>
        <cusip>61371DAL8</cusip>
        <identifiers>
          <isin value="US61371DAL82"/>
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        <balance>310000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>311453.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORFOLK VA RED 5.375% 01/01/46</name>
        <lei>N/A</lei>
        <title>NORFOLK VA REDEV &amp; HSG AUTH RE REGD B/E 5.37500000</title>
        <cusip>655909CH0</cusip>
        <identifiers>
          <isin value="US655909CH02"/>
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        <balance>290000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>278930.87000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HUTTO TX INDEP SCH 5% 08/01/48</name>
        <lei>N/A</lei>
        <title>HUTTO TX INDEP SCH DIST REGD B/E PSF-GTD 5.00000000</title>
        <cusip>4484924U9</cusip>
        <identifiers>
          <isin value="US4484924U98"/>
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        <balance>2480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2586818.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ILLINOIS ST 4% 10/01/45</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>ILLINOIS ST REGD OID B/E 4.00000000</title>
        <cusip>452153MF3</cusip>
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          <isin value="US452153MF31"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2662419.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CLIFTON TX HGR 6.125% 08/15/48</name>
        <lei>N/A</lei>
        <title>CLIFTON TX HGR EDU FIN CORP ED REGD OID B/E 6.12500000</title>
        <cusip>187145JT5</cusip>
        <identifiers>
          <isin value="US187145JT58"/>
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        <balance>7835000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7863687.85000000</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>2048-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WISCONSIN ST H 6.125% 10/01/59</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>WISCONSIN ST HLTH &amp; EDUCTNL FA REGD OID B/E 6.12500000</title>
        <cusip>97712JJX2</cusip>
        <identifiers>
          <isin value="US97712JJX28"/>
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        <balance>1385000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1412346.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST  6.375% 07/01/46</name>
        <lei>N/A</lei>
        <title>PREREF CALIFORNIA ST SCH FIN AUTH EDU REGD B/E PREREFUNDED 07/01/25 @ 100 6.37500000</title>
        <cusip>130591AW0</cusip>
        <identifiers>
          <isin value="US130591AW02"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1007417.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MET PIER &amp; EXPOSI ZCP 12/15/34</name>
        <lei>254900I3VDCQ58UGBR15</lei>
        <title>MET PIER &amp; EXPOSITION AUTH IL REGD N/C ZCP OID B/E NATL 0.00000000</title>
        <cusip>592247K58</cusip>
        <identifiers>
          <isin value="US592247K585"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>366680.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>NORTH CAROLINA 4.875% 07/01/40</name>
        <lei>549300FH6KOXGCHQYG81</lei>
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        <cusip>65820YLL8</cusip>
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        <balance>915000.00000000</balance>
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        <valUSD>688660.02000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CONROE TX LOCAL GO 4% 10/01/50</name>
        <lei>N/A</lei>
        <title>CONROE TX LOCAL GOVT CORP HOTE REGD B/E 4.00000000</title>
        <cusip>208419AB7</cusip>
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          <isin value="US208419AB76"/>
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        <balance>855000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>MET TRANSPRTN AUTH 5% 11/15/52</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>MET TRANSPRTN AUTH NY REVENUE REGD B/E 5.00000000</title>
        <cusip>59261AYZ4</cusip>
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          <isin value="US59261AYZ47"/>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>OKLAHOMA ST HSG FI 6% 09/01/54</name>
        <lei>N/A</lei>
        <title>OKLAHOMA ST HSG FIN AGY SF MTG REGD B/E GNMA/FN 6.00000000</title>
        <cusip>67886MG94</cusip>
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          <isin value="US67886MG947"/>
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        <balance>320000.00000000</balance>
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        <valUSD>349497.76000000</valUSD>
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        <assetCat>DBT</assetCat>
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          <maturityDt>2054-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <name>ARKANSAS ST DE 7.375% 07/01/48</name>
        <lei>N/A</lei>
        <title>ARKANSAS ST DEV FIN AUTH INDL REGD B/E AMT 7.37500000</title>
        <cusip>04108WCF7</cusip>
        <identifiers>
          <isin value="US04108WCF77"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHICAGO IL 5.5% 01/01/39</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>CHICAGO IL REGD B/E 5.50000000</title>
        <cusip>167486P52</cusip>
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          <isin value="US167486P526"/>
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        <balance>335000.00000000</balance>
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        <valUSD>355008.24000000</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>2039-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>HAMILTON CNTY O 5.75% 01/01/53</name>
        <lei>549300TO1E3N4E4YIO28</lei>
        <title>HAMILTON CNTY OH HLTH CARE REV REGD OID B/E 5.75000000</title>
        <cusip>40727RCL0</cusip>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>411654.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PUERTO RICO ELEC P 5% 07/01/28</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FULTON CNTY GA DEV 5% 04/01/47</name>
        <lei>549300533NJL38F4K144</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MARYLAND ST ECON D 5% 07/01/36</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOGGY CREEK FL 5.125% 05/01/43</name>
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      <invstOrSec>
        <name>LEES SUMMIT MO 5.625% 08/15/54</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BRAZOS TX HGR EDU  3% 04/01/40</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN FRANCISCO CA 5.5% 05/01/55</name>
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        <cusip>79766DXQ7</cusip>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>PUERTO RICO ELE 5.25% 07/01/27</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <cusip>74526QYY2</cusip>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>227550.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
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      <invstOrSec>
        <name>OHIO ST AIR QUA 3.25% 09/01/29</name>
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        <cusip>677525WB9</cusip>
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        <balance>2585000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
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      <invstOrSec>
        <name>NEW JERSEY ST HLTH 5% 07/01/33</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MUNI ELEC AUTH  5.25% 07/01/64</name>
        <lei>JA0WNILDDF2KUPS83B16</lei>
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        <cusip>62620HHP0</cusip>
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        <balance>2000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-07-01</maturityDt>
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        <name>CONNECTICUT ST HLT 4% 07/01/49</name>
        <lei>549300ZOQJ5U8YBS5Q35</lei>
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        <cusip>20775DDY5</cusip>
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          <maturityDt>2049-07-01</maturityDt>
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        <name>KENTUCKY ST PUBLI V/R 06/01/55</name>
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        <cusip>74440DFN9</cusip>
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        <name>HOUSTON TX ARPT SY 4% 07/01/41</name>
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        <name>DENTON CNTY TX 6.125% 12/31/54</name>
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        <cusip>24880GAC3</cusip>
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          <isin value="US24880GAC33"/>
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      <invstOrSec>
        <name>OKLAHOMA ST TURN 4.5% 01/01/53</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MULTNOMAH CNTY OR  4% 12/01/41</name>
        <lei>549300GAP0JIG7V33754</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ILLINOIS ST DEV FI 8% 06/01/32</name>
        <lei>N/A</lei>
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        <title>WYANDOTTE CNTY KS KANSAS CITY REGD OID B/E 5.75000000</title>
        <cusip>98267VDK6</cusip>
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          <isin value="US98267VDK61"/>
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        <balance>450000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>464378.54000000</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>2039-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CSCDA CMNTY IMPT A 4% 05/01/57</name>
        <lei>N/A</lei>
        <title>CSCDA CMNTY IMPT AUTH CA ESSEN REGD OID B/E 4.00000000</title>
        <cusip>126292BR1</cusip>
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          <isin value="US126292BR16"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>175743.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST SCH  5% 06/01/29</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST SCH FIN AUTH CHR REGD B/E 5.00000000</title>
        <cusip>13058TGX2</cusip>
        <identifiers>
          <isin value="US13058TGX28"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>250687.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>HOBE ST LUCIE  5.875% 05/01/55</name>
        <lei>N/A</lei>
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        <cusip>434043AC9</cusip>
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          <isin value="US434043AC97"/>
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        <balance>225000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>228783.51000000</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>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>PHOENIX AZ INDL D V/R 11/15/52</name>
        <lei>549300A62PWFBDWB8332</lei>
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        <cusip>71884SAC4</cusip>
        <identifiers>
          <isin value="US71884SAC44"/>
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        <balance>3400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3400000.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VERMONT ST ECON DE 4% 05/01/37</name>
        <lei>N/A</lei>
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        <cusip>92415TCA8</cusip>
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          <isin value="US92415TCA88"/>
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        <balance>250000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN FRANCISCO CITY 4% 09/01/32</name>
        <lei>N/A</lei>
        <title>SAN FRANCISCO CITY &amp; CNTY CA C REGD B/E 4.00000000</title>
        <cusip>79773LAA0</cusip>
        <identifiers>
          <isin value="US79773LAA08"/>
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        <balance>345000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>338513.07000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>INDIANA ST FIN  5.25% 07/01/55</name>
        <lei>N/A</lei>
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        <cusip>45471FBJ9</cusip>
        <identifiers>
          <isin value="US45471FBJ93"/>
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        <balance>305000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>294181.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>TULSA OK MUNI ARP V/R 06/01/35</name>
        <lei>N/A</lei>
        <title>TULSA OK MUNI ARPT TRUST TRUST REGD V/R B/E AMT 5.00000000</title>
        <cusip>899661EL2</cusip>
        <identifiers>
          <isin value="US899661EL22"/>
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        <balance>5000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5005157.50000000</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>2035-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTH DAKOTA ST HS 6% 07/01/55</name>
        <lei>549300DVQAGW0B16JX70</lei>
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        <cusip>65889BBC7</cusip>
        <identifiers>
          <isin value="US65889BBC72"/>
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        <balance>985000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1085693.89000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>EAST CNTY ADVA 3.125% 09/01/26</name>
        <lei>N/A</lei>
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        <cusip>271843AB0</cusip>
        <identifiers>
          <isin value="US271843AB05"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2001026.80000000</valUSD>
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        <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>3.12500000</annualizedRt>
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      <invstOrSec>
        <name>CUMBERLAND CNTY PA 5% 01/01/45</name>
        <lei>N/A</lei>
        <title>CUMBERLAND CNTY PA MUNI AUTH REGD B/E 5.00000000</title>
        <cusip>230614PN3</cusip>
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        <balance>375000.00000000</balance>
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        <valUSD>345277.99000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>BLACK BELT ENERGY V/R 03/01/55</name>
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        <cusip>09182TEN3</cusip>
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        <name>PHILADELPHIA PA HO 5% 07/01/31</name>
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        <cusip>717903L63</cusip>
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        <name>NORTH CAROLINA ST  5% 07/01/49</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>NORTH CAROLINA ST MED CARE COM REGD B/E 5.00000000</title>
        <cusip>65820YRP3</cusip>
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        <name>SOUTH CAROLINA  6.25% 07/01/54</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TEXAS ST MUNI G 6.25% 12/15/26</name>
        <lei>6AZ7FRSNC3ZFPM0Z8L86</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
        <name>NORTH CAROLINA ST  5% 10/01/25</name>
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      <invstOrSec>
        <name>MET WASHINGTON DC ZCP 10/01/37</name>
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      <invstOrSec>
        <name>SULLIVAN CNTY N 5.35% 11/01/49</name>
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      <invstOrSec>
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        <name>NEW JERSEY ST ECO ZCP 07/01/26</name>
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      <invstOrSec>
        <name>IDAHO ST HSG &amp; FIN 5% 07/01/40</name>
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        <name>MARYLAND ST ECON D 4% 06/01/48</name>
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        <name>LITTLE ELM TX  5.375% 09/01/51</name>
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      <invstOrSec>
        <name>CHESTER CNTY PA IN 5% 03/01/38</name>
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        <name>CALIFORNIA ST STWD 4% 09/02/41</name>
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        <name>CLACKAMAS CNTY OR  5% 11/15/32</name>
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        <name>LAUREL ROAD CDD 3.25% 05/01/41</name>
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        <name>KENT CNTY DE STUDE 5% 07/01/32</name>
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        <name>BLACK BELT ENERGY V/R 12/01/52</name>
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      <invstOrSec>
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        <name>PRONGHORN VLY MET  4% 12/01/51</name>
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        <name>REGL TRANSPRTN AUT 6% 07/01/33</name>
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        <name>HICKORY TREE CD 5.45% 05/01/55</name>
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        <name>HENRICO CNTY VA EC 5% 06/01/39</name>
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        <name>ARIZONA INDL DEV  V/R 02/01/48</name>
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        <name>MOHEGAN TRIBE I 6.75% 02/01/45</name>
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        <name>IOWA ST STUDENT LO 5% 12/01/54</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CUMBERLAND CNTY  4.5% 01/01/40</name>
        <lei>N/A</lei>
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          <isin value="US230614RJ01"/>
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      <invstOrSec>
        <name>VLG FL CDD #14 5.375% 05/01/42</name>
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      <invstOrSec>
        <name>GUAM GOVT BUSINESS 5% 01/01/30</name>
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        <name>KANSAS CITY MO IND 4% 03/01/57</name>
        <lei>549300QWDXL46XQC8110</lei>
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        <cusip>48504NCK3</cusip>
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          <isin value="US48504NCK37"/>
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      <invstOrSec>
        <name>PINELLAS CNTY FL E 5% 06/01/56</name>
        <lei>N/A</lei>
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          <isin value="US72316AAC99"/>
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      <invstOrSec>
        <name>CHARLOTTE NC ARPT  4% 07/01/38</name>
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          <isin value="US161036SP41"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>ATLANTA GA URB 3.625% 07/01/42</name>
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        <cusip>047851BS8</cusip>
        <identifiers>
          <isin value="US047851BS81"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TENNESSEE HSG DE 3.5% 01/01/50</name>
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        <identifiers>
          <isin value="US880461G938"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW JERSEY ST TRAN 5% 12/15/30</name>
        <lei>549300YUVD5TEXR6L889</lei>
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      <invstOrSec>
        <name>RHODE ISLAND ST 5.25% 05/15/49</name>
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          <isin value="US762244MH16"/>
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        <name>NFA 2024-2 A 3.625% 08/20/39</name>
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        <name>NORTHWEST TX INDEP 5% 02/15/49</name>
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        <name>MASSACHUSETTS ST D 5% 10/01/48</name>
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        <name>MET PIER &amp; EXPOSIT 4% 12/15/42</name>
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        <name>BERKS CNTY PA INDL 5% 05/15/32</name>
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        <name>MINNESOTA ST HS 6.25% 01/01/54</name>
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        <name>RANCHO CORDOVA CA  5% 09/01/40</name>
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      <invstOrSec>
        <name>NEW YORK ST TRANSP 5% 12/01/39</name>
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        <name>KNOX CNTY TN HLTH  5% 07/01/49</name>
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        <name>COLORADO ST HLT 5.25% 05/15/28</name>
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          <isin value="US19648FBR47"/>
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        <name>CELEBRATION POINTE 3% 05/01/31</name>
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          <isin value="US15102HAH03"/>
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      <invstOrSec>
        <name>FRANKLIN CNTY PA I 5% 12/01/48</name>
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          <isin value="US353273BY02"/>
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        <name>NEW YORK ST ENVRN V/R 09/01/50</name>
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          <isin value="US649852AT75"/>
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      <invstOrSec>
        <name>RED BRIDGE PUB 3.625% 02/01/35</name>
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          <isin value="US756423AA79"/>
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        <name>KENTWOOD MI ECON D 5% 11/15/37</name>
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        <name>KENTUCKY ST HGR ED 4% 06/01/37</name>
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        <name>LANCASTER CNTY PA  5% 07/01/30</name>
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        <name>PRINCE GEORGES CNT 5% 07/01/46</name>
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      <invstOrSec>
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        <name>LAKEWOOD RANCH  5.25% 05/01/37</name>
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        <name>IOWA ST FIN AUTH  V/R 11/01/26</name>
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        <name>LOUISIANA ST LO 5.25% 11/15/59</name>
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        <name>CALIFORNIA CMNTY H 4% 02/01/56</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <name>COLORADO ST HSG 5.75% 11/01/54</name>
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        <name>AURORA CROSSROADS  5% 12/01/50</name>
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        <name>VIERA STEWARDSHIP  4% 05/01/53</name>
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        <name>WESTSIDE HAINES 5.75% 05/01/44</name>
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        <name>ILLINOIS ST HSG DE 5% 10/01/46</name>
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        <name>PLAZA AT NOAHS ARK 3% 05/01/30</name>
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        <name>CONNECTOR 2000 AS ZCP 01/01/32</name>
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        <name>FRETE 2024-ML24  V/R 05/25/41</name>
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        <name>MICHIGAN ST TOBAC ZCP 06/01/52</name>
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        <name>PUERTO RICO ELE 5.25% 07/01/26</name>
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        <name>CHICAGO IL BRD OF  5% 12/01/27</name>
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        <name>PUERTO RICO ELEC P 5% 07/01/25</name>
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        <issuerCat>MUN</issuerCat>
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        <name>CONNECTOR 2000 AS ZCP 07/22/51</name>
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      <invstOrSec>
        <name>PUERTO RICO ELEC P 5% 07/01/24</name>
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        <name>BURKE CNTY GA  4.125% 11/01/45</name>
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        <name>SIERRA VISTA AZ IN 5% 06/15/54</name>
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        <name>TRADITION CDD #9 5.4% 05/01/45</name>
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        <name>LA PAZ CNTY AZ IND 4% 02/15/51</name>
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        <name>MARYLAND ST HLTH &amp; 5% 07/01/32</name>
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        <name>MIDA MOUNTAIN V 4.25% 08/01/35</name>
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        <name>NORTH CAROLINA ST  5% 10/01/31</name>
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        <name>MONTGOMERY CNTY TX 5% 09/15/36</name>
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      <invstOrSec>
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        <name>CHICAGO IL BRD OF ZCP 12/01/29</name>
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        <name>GOLDEN GEM CDD F 5.7% 05/01/44</name>
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        <name>DELAWARE ST ECON D 5% 09/01/50</name>
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      <invstOrSec>
        <name>BLACK DESERT P 5.625% 12/01/53</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>SOUTH CAROLINA ST  5% 11/15/54</name>
        <lei>5493006X47I9VG3DL112</lei>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <cusip>922687AE8</cusip>
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      <invstOrSec>
        <name>NORTH CAROLINA S 5.5% 09/01/54</name>
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      <invstOrSec>
        <name>NORTH CAROLINA ST  5% 01/01/39</name>
        <lei>549300FH6KOXGCHQYG81</lei>
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          <isin value="US65820YQW92"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WI 5% 06/01/52</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FIN AUTH WI REVENUE REGD B/E 5.00000000</title>
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          <isin value="US74442PTR63"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>PHILADELPHIA PA AU 5% 08/01/50</name>
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        <cusip>71780CAK6</cusip>
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          <isin value="US71780CAK62"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>WASHINGTON ST HSG V/R 03/20/40</name>
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        <cusip>93978UAA4</cusip>
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          <isin value="US93978UAA43"/>
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      <invstOrSec>
        <name>TARRANT CNTY TX CU 5% 05/15/37</name>
        <lei>549300ROY505NVTMMI25</lei>
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        <cusip>87638RHH3</cusip>
        <identifiers>
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        <issuerCat>MUN</issuerCat>
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      <invstOrSec>
        <name>GREAT WSTRN CO  4.75% 12/01/50</name>
        <lei>N/A</lei>
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          <isin value="US39142CAE03"/>
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        <name>WASHINGTON ST HSG  5% 07/01/46</name>
        <lei>549300YL1HU59NREG764</lei>
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        <name>MET PIER &amp; EXPOSI ZCP 12/15/38</name>
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        <name>PINELLAS CNTY FL I 5% 07/01/39</name>
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        <name>FAYETTE CNTY GA DE 5% 10/01/40</name>
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        <name>SAINT LOUIS MO 5.375% 06/01/43</name>
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        <name>HIDALGO CNTY TX RE 4% 12/01/39</name>
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        <name>PUBLIC FIN AUTH 5.25% 11/15/61</name>
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      <invstOrSec>
        <name>CHICAGO IL BRD OF  5% 12/01/42</name>
        <lei>54930099NR6T9V7LVB43</lei>
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      <invstOrSec>
        <name>LANCASTER PA INDL  4% 07/01/51</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>MARYLAND STADIUM A 5% 06/01/54</name>
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      <invstOrSec>
        <name>PARRISH LAKES CD 5.5% 05/01/44</name>
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        <cusip>70183FAH1</cusip>
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        <name>WESTCHESTER CNTY N 5% 11/01/46</name>
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        <cusip>95737TCD6</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KINSTON MET DI 5.125% 12/01/50</name>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>SUFFOLK REGL OFF-T 6% 12/01/53</name>
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        <cusip>86480TAC8</cusip>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>NORTHERN IL UNIV R 4% 04/01/41</name>
        <lei>N/A</lei>
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        <cusip>665245YT7</cusip>
        <identifiers>
          <isin value="US665245YT79"/>
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        <balance>450000.00000000</balance>
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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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          <maturityDt>2041-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>PHOENIX AZ INDL DE 5% 07/01/44</name>
        <lei>549300A62PWFBDWB8332</lei>
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        <cusip>71885DEE8</cusip>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST STWD 5% 09/02/42</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <cusip>13078YTQ8</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>ARKANSAS ST DEV  4.7% 07/01/55</name>
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        <cusip>041083ZD1</cusip>
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        <name>ARTISAN LAKES EAST 4% 05/01/51</name>
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        <name>VLG AT DRY CRE 4.375% 12/01/44</name>
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        <name>OK CNTY FIN AUTH 6.5% 06/15/64</name>
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        <name>JEFFERSON PARISH 5.5% 06/15/38</name>
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        <name>PALM BEACH CNTY FL 5% 06/01/55</name>
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        <name>NEW JERSEY ST H 3.25% 12/01/30</name>
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        <name>PUERTO RICO SALES ZCP 07/01/46</name>
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        <name>GEO L SMITH II GA  5% 01/01/36</name>
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        <name>CALIFORNIA CMNTY H 3% 08/01/56</name>
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        <name>NEW JERSEY ST TRA ZCP 12/15/34</name>
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        <name>DELAWARE ST ECON D 4% 06/01/52</name>
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        <name>LOUISIANA ST PUBL V/R 10/01/53</name>
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        <name>BERTHOUD-HERIT 5.625% 12/01/48</name>
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        <name>E HEMPFIELD TWP PA 5% 07/01/35</name>
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        <name>YAMHILL CNTY OR HO 5% 11/15/36</name>
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        <name>VLG FL CDD #13 SPL 3% 05/01/29</name>
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        <name>PUERTO RICO SALES ZCP 07/01/29</name>
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        <name>VIRGINIA ST SMALL  5% 12/31/57</name>
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        <name>SAINT LOUIS CNTY M 5% 08/15/30</name>
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      <invstOrSec>
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        <name>FLORIDA DEV FIN CO 5% 09/15/50</name>
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        <name>MET PIER &amp; EXPOSI ZCP 12/15/36</name>
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        <name>PENNSYLVANIA HG 2.45% 06/01/41</name>
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        <name>PUBLIC FIN AUTH WI 5% 06/15/56</name>
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        <name>AZ INDL DEV AUTH 5.5% 07/01/52</name>
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      <invstOrSec>
        <name>COLORADO EDUCTNL &amp; 4% 05/01/51</name>
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        <name>VILLAGE CDD NO  4.85% 05/01/38</name>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>WISCONSIN ST HLTH  5% 06/01/41</name>
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        <name>MARYLAND ST ECON  V/R 07/01/48</name>
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        <name>CASCADE RIDGE MET  5% 12/01/51</name>
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        <name>NEW YORK ST TRA 2.25% 08/01/26</name>
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        <name>PUERTO RICO CMWLTH 5% 07/01/29</name>
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        <name>MAIN STREET NATUR V/R 07/01/53</name>
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        <name>PRINCE GEORGES 4.375% 07/01/48</name>
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        <name>CHARLES COVE CD 3.75% 05/01/30</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN ST STRATE 5% 11/15/49</name>
        <lei>N/A</lei>
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        <cusip>594698RD6</cusip>
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          <isin value="US594698RD62"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHICAGO IL BRD OF  4% 12/01/35</name>
        <lei>54930099NR6T9V7LVB43</lei>
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        <cusip>167505PS9</cusip>
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          <isin value="US167505PS99"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>POMPANO BEACH FL R 4% 09/01/51</name>
        <lei>N/A</lei>
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        <cusip>732203BH6</cusip>
        <identifiers>
          <isin value="US732203BH60"/>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CENTERVILLE OH  5.25% 11/01/47</name>
        <lei>N/A</lei>
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        <cusip>152241AZ8</cusip>
        <identifiers>
          <isin value="US152241AZ80"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>141176.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>PUBLIC FIN AUT 5.375% 06/15/39</name>
        <lei>5493004S6D3NA627K012</lei>
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        <cusip>74443DLB5</cusip>
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          <isin value="US74443DLB54"/>
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        <balance>150000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ORANGE CNTY FL  5.25% 10/01/56</name>
        <lei>N/A</lei>
        <title>ORANGE CNTY FL HLTH FACS AUTH REGD B/E 5.25000000</title>
        <cusip>68450LJQ9</cusip>
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          <isin value="US68450LJQ95"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>626288.88000000</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>2056-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VIRGINIA SMALL BUS 5% 12/31/52</name>
        <lei>N/A</lei>
        <title>VIRGINIA SMALL BUSINESS FING A REGD B/E AMT 5.00000000</title>
        <cusip>928097AC8</cusip>
        <identifiers>
          <isin value="US928097AC85"/>
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        <balance>10570000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10538266.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTH CAROLINA S 4.7% 07/01/37</name>
        <lei>549300FH6KOXGCHQYG81</lei>
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        <cusip>65820YLK0</cusip>
        <identifiers>
          <isin value="US65820YLK00"/>
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        <balance>735000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>572583.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDIANA ST FIN AUT 5% 06/01/53</name>
        <lei>N/A</lei>
        <title>INDIANA ST FIN AUTH STUDENT HS REGD OID B/E 5.00000000</title>
        <cusip>45471FAF8</cusip>
        <identifiers>
          <isin value="US45471FAF80"/>
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        <balance>1800000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1780381.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>KENTUCKY ST ECO 5.25% 06/01/41</name>
        <lei>N/A</lei>
        <title>KENTUCKY ST ECON DEV FIN AUTH REGD B/E 5.25000000</title>
        <cusip>49126KKE0</cusip>
        <identifiers>
          <isin value="US49126KKE00"/>
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        <balance>1240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1246304.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>LOUISIANA ST PUBLI 5% 07/01/59</name>
        <lei>549300RQIPT5S4P4M065</lei>
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        <cusip>54639TCV2</cusip>
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          <isin value="US54639TCV26"/>
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        <balance>100000.00000000</balance>
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        <valUSD>99260.17000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NFA 2024-2 X V/R 08/20/39</name>
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        <cusip>63607WAV6</cusip>
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        <valUSD>70617.59000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK ST TRANSP 5% 01/01/32</name>
        <lei>N/A</lei>
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        <cusip>650116CL8</cusip>
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          <isin value="US650116CL89"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CMFA SPL FIN AGY C 4% 12/01/45</name>
        <lei>N/A</lei>
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        <cusip>12574WAE0</cusip>
        <identifiers>
          <isin value="US12574WAE03"/>
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        <balance>650000.00000000</balance>
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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>2045-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>MIRADA II CMNTY DE 4% 05/01/51</name>
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          <isin value="US60463WAD56"/>
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          <maturityDt>2051-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>VLG FL CDD #12 3.875% 05/01/47</name>
        <lei>N/A</lei>
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          <isin value="US92708FAC23"/>
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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>2047-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BUDA TX SPL AS 6.625% 09/01/45</name>
        <lei>549300M2WWWL7K4QS327</lei>
        <title>BUDA TX SPL ASSMNT REVENUE REGD B/E 6.62500000</title>
        <cusip>118829AE0</cusip>
        <identifiers>
          <isin value="US118829AE03"/>
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        <balance>342000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>336691.95000000</valUSD>
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      <invstOrSec>
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        <name>KNOX CNTY TN HL 5.25% 07/01/64</name>
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        <name>SAINT LOUIS CN 5.125% 09/01/48</name>
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        <name>MAIN STREET NATUR V/R 05/01/55</name>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL TRUST AU 6.5% 12/15/58</name>
        <lei>N/A</lei>
        <title>CAPITAL TRUST AUTH FL EDUCTNL REGD OID B/E 6.50000000</title>
        <cusip>14054WAD7</cusip>
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          <isin value="US14054WAD74"/>
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        <valUSD>369695.71000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PUERTO RICO ELEC P 5% 07/01/20</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <cusip>74526QKN1</cusip>
        <identifiers>
          <isin value="US74526QKN15"/>
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        <curCd>USD</curCd>
        <valUSD>38850.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HOUSTON TX ARP 6.625% 07/15/38</name>
        <lei>N/A</lei>
        <title>HOUSTON TX ARPT SYS REVENUE REGD OID B/E AMT 6.62500000</title>
        <cusip>4423485T1</cusip>
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          <isin value="US4423485T17"/>
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        <balance>2000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BALTIMORE MD SPL O 4% 09/01/27</name>
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        <cusip>05923TBW8</cusip>
        <identifiers>
          <isin value="US05923TBW80"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>449712.45000000</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>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>HALIFAX FL HOSP ME 5% 06/01/36</name>
        <lei>549300H6HDJUXLEMUW23</lei>
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        <identifiers>
          <isin value="US405815LG47"/>
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        <curCd>USD</curCd>
        <valUSD>3019448.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SAINT JAMES PAR 6.35% 07/01/40</name>
        <lei>N/A</lei>
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        <cusip>790103AV7</cusip>
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          <isin value="US790103AV70"/>
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        <balance>3380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3670115.88000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MET WASHINGTON DC  5% 10/01/27</name>
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          <isin value="US592647FA40"/>
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        <balance>2310000.00000000</balance>
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      <invstOrSec>
        <name>AUSTIN TX ARPT SYS 5% 11/15/41</name>
        <lei>N/A</lei>
        <title>AUSTIN TX ARPT SYS REVENUE REGD B/E AMT 5.00000000</title>
        <cusip>052398FT6</cusip>
        <identifiers>
          <isin value="US052398FT60"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35156.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CONNECTICUT ST HLT 5% 07/01/33</name>
        <lei>549300ZOQJ5U8YBS5Q35</lei>
        <title>CONNECTICUT ST HLTH &amp; EDUCTNL REGD B/E 5.00000000</title>
        <cusip>20774YW29</cusip>
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          <isin value="US20774YW299"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>175451.12000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>OHIO ST AIR QUALI V/R 09/01/30</name>
        <lei>549300DZUU80AYOR6M80</lei>
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        <cusip>677525WU7</cusip>
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          <isin value="US677525WU74"/>
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        <balance>85000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHATTANOOGA TN HLT 5% 10/01/30</name>
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        <name>NFA 2024-4 ACA V/R 07/20/39</name>
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      <invstOrSec>
        <name>CLIFTON TX HGR EDU 4% 08/15/29</name>
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        <name>ILLINOIS ST HS 4.875% 04/01/50</name>
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        <name>OHIO ST AIR QUALI V/R 11/01/42</name>
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        <name>SPARTANBURG SC REG 5% 04/15/32</name>
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      <invstOrSec>
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        <name>PUERTO RICO CMWLTH 5% 07/01/27</name>
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      <invstOrSec>
        <name>NEW YORK ST TRANSP 5% 01/01/31</name>
        <lei>N/A</lei>
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          <isin value="US650116CK07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JACOBY FARM MET DI 5% 12/15/46</name>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MEMPHIS-SHELBY C 5.5% 07/01/37</name>
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        <cusip>58611YAB0</cusip>
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          <isin value="US58611YAB02"/>
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        <curCd>USD</curCd>
        <valUSD>1185181.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>TENNESSEE HSG D 5.75% 01/01/55</name>
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        <cusip>88046KKA3</cusip>
        <identifiers>
          <isin value="US88046KKA33"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>160346.36000000</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>2055-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>LAS VEGAS NV SPL I 5% 12/01/49</name>
        <lei>N/A</lei>
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        <cusip>51778VAQ7</cusip>
        <identifiers>
          <isin value="US51778VAQ77"/>
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        <balance>860000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>845554.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST STWD 4% 09/02/51</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <cusip>13078YSY2</cusip>
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        <balance>1315000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BLACK BELT ENERGY V/R 10/01/55</name>
        <lei>549300I8V0Z68JQCB679</lei>
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        <cusip>09182TEC7</cusip>
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          <isin value="US09182TEC71"/>
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        <balance>5115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5354980.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MINERAL BUSINES 5.75% 12/01/54</name>
        <lei>N/A</lei>
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        <cusip>60284AAA6</cusip>
        <identifiers>
          <isin value="US60284AAA60"/>
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        <balance>780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>787676.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>PUBLIC FIN AUT 5.125% 06/15/47</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FIN AUTH WI EDU REVENUE REGD OID B/E 5.12500000</title>
        <cusip>74442EBX7</cusip>
        <identifiers>
          <isin value="US74442EBX76"/>
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        <balance>180000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>161742.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>SAINT LOUIS CNTY M 5% 09/01/38</name>
        <lei>N/A</lei>
        <title>SAINT LOUIS CNTY MO INDL DEV A REGD OID B/E 5.00000000</title>
        <cusip>791524CM1</cusip>
        <identifiers>
          <isin value="US791524CM11"/>
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        <balance>820000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>829272.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW HOPE CULTURAL  5% 07/01/57</name>
        <lei>N/A</lei>
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        <cusip>64542RFK2</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>ILLINOIS ST HSG 5.25% 10/01/52</name>
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        <cusip>45203MHX2</cusip>
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        <balance>875000.00000000</balance>
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          <maturityDt>2052-10-01</maturityDt>
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        <name>IOWA ST FIN AUT 4.75% 08/01/42</name>
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        <cusip>46246SAE5</cusip>
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        <valUSD>1180923.00000000</valUSD>
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        <name>PRINCETON TX SP 5.25% 09/01/54</name>
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        <cusip>742400CN2</cusip>
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        <issuerCat>MUN</issuerCat>
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        <name>NEW ORLEANS LA AVI 5% 01/01/34</name>
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        <issuerCat>MUN</issuerCat>
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          <maturityDt>2034-01-01</maturityDt>
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        <name>MATCHING FUND SPL  5% 10/01/30</name>
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        <balance>775000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>PUERTO RICO CMWLTH 4% 07/01/42</name>
        <lei>N/A</lei>
        <title>PUERTO RICO CMWLTH AQUEDUCT &amp; REGD B/E 4.00000000</title>
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        <name>PALM BEACH CNTY FL 5% 11/15/32</name>
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      <invstOrSec>
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        <name>NORTH CAROLINA ST  5% 01/01/49</name>
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      <invstOrSec>
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        <name>WESTMORELAND CNTY  4% 07/01/37</name>
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        <name>LAUREL ROAD CD 3.125% 05/01/31</name>
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        <name>MET PIER &amp; EXPOSIT 5% 12/15/45</name>
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        <name>MET WASHINGTON DC ZCP 10/01/35</name>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>811176.88000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTH DAKOTA ST 6.25% 05/01/55</name>
        <lei>549300G853EK61667C18</lei>
        <title>SOUTH DAKOTA ST HSG DEV AUTH REGD OID B/E GNMA/FN 6.25000000</title>
        <cusip>83756LAC9</cusip>
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          <isin value="US83756LAC90"/>
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        <balance>2380000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>SAWYERS LANDING 3.75% 05/01/31</name>
        <lei>N/A</lei>
        <title>SAWYERS LANDING CDD FL SPL ASS REGD N/C OID B/E 3.75000000</title>
        <cusip>805517AB5</cusip>
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          <isin value="US805517AB54"/>
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        <balance>680000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
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      <invstOrSec>
        <name>SOUTH CAROLINA ST  4% 06/01/46</name>
        <lei>5493006X47I9VG3DL112</lei>
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        <cusip>83704MBU9</cusip>
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          <isin value="US83704MBU99"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>151388.12000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>AVIMOR CMNTY INF 5.5% 09/01/53</name>
        <lei>N/A</lei>
        <title>AVIMOR CMNTY INFRASTRUCTURE DI REGD B/E 5.50000000</title>
        <cusip>05372AAB2</cusip>
        <identifiers>
          <isin value="US05372AAB26"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3005537.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>FLORIDA ST DEV FIN 5% 06/15/30</name>
        <lei>549300HC854CNBLMWC48</lei>
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        <cusip>34061UFU7</cusip>
        <identifiers>
          <isin value="US34061UFU79"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>383610.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NEW JERSEY ST ECON 4% 08/01/59</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>NEW JERSEY ST ECON DEV AUTH WT REGD B/E AMT 4.00000000</title>
        <cusip>645780FK8</cusip>
        <identifiers>
          <isin value="US645780FK82"/>
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        <balance>355000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STHRN CALIFORNIA S 5% 07/01/53</name>
        <lei>5493003B5TD5FWUKMD34</lei>
        <title>STHRN CALIFORNIA ST PUBLIC PWR REGD B/E 5.00000000</title>
        <cusip>842469CM8</cusip>
        <identifiers>
          <isin value="US842469CM84"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>514034.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MET NASHVILLE TN 5.5% 07/01/52</name>
        <lei>549300IC0HNF8TDXEE63</lei>
        <title>MET NASHVILLE TN ARPT AUTH ARP REGD B/E AMT 5.50000000</title>
        <cusip>592190QZ8</cusip>
        <identifiers>
          <isin value="US592190QZ80"/>
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        <balance>2050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2139423.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>DIATC MET DIST  3.25% 12/01/29</name>
        <lei>N/A</lei>
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        <cusip>25283QAA5</cusip>
        <identifiers>
          <isin value="US25283QAA58"/>
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        <balance>295000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PUERTO RICO ELEC P 5% 07/01/21</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <cusip>74526QZM7</cusip>
        <identifiers>
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        <balance>2585000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1434675.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SENAC SOUTH MET 5.25% 12/01/51</name>
        <lei>N/A</lei>
        <title>SENAC SOUTH MET DIST #1 CO REGD B/E 5.25000000</title>
        <cusip>81685AAA7</cusip>
        <identifiers>
          <isin value="US81685AAA79"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>IRVINE CA IMPT BON 4% 09/02/28</name>
        <lei>549300PJ9FL2XGFR8J79</lei>
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        <cusip>46360RLH8</cusip>
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        <balance>30000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>RHODE ISLAND S 3.625% 12/01/37</name>
        <lei>N/A</lei>
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        <cusip>762315RJ0</cusip>
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          <isin value="US762315RJ05"/>
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          <maturityDt>2037-12-01</maturityDt>
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        <name>COLUMBUS CNTY NC  V/R 05/01/34</name>
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        <cusip>199048AD1</cusip>
        <identifiers>
          <isin value="US199048AD17"/>
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        <fairValLevel>2</fairValLevel>
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        <name>DOYLESTOWN PA HOSP 4% 07/01/45</name>
        <lei>N/A</lei>
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          <isin value="US261333HD38"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>PHILADELPHIA PA AU 4% 06/01/41</name>
        <lei>549300DIY68KQZEW7M79</lei>
        <title>PHILADELPHIA PA AUTH FOR INDL REGD B/E 4.00000000</title>
        <cusip>71780CBG4</cusip>
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          <isin value="US71780CBG42"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>664959.83000000</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>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>PUEBLO CO URBAN 4.75% 12/01/45</name>
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        <name>KLAMATH FALLS OR I 5% 09/01/32</name>
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        <name>PUBLIC FIN AUTH WI 5% 06/15/49</name>
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        <name>PUERTO RICO ELE 5.75% 07/01/36</name>
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        <name>PUBLIC FIN AUTH WI 5% 06/15/39</name>
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      <invstOrSec>
        <name>CHARLES COVE C 4.375% 05/01/50</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PHILADELPHIA PA AU 5% 07/01/42</name>
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        <name>MET WASHINGTON DC ZCP 10/01/38</name>
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        <name>NORTH LAS VEGAS  4.5% 06/01/39</name>
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        <name>MICHIGAN ST FIN AU 4% 12/01/40</name>
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        <name>CALIFORNIA PUB 2.375% 11/15/28</name>
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        <name>INDIANA ST FIN AUT 5% 11/15/53</name>
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        <name>LAVON TX SPL A 5.125% 09/15/44</name>
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        <name>NEW YORK ST DORM A 4% 03/15/43</name>
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        <name>ARLINGTON TX HGR E 5% 06/15/64</name>
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        <name>9TH AVENUE MET DIS 5% 12/01/48</name>
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        <name>MARICOPA CNTY AZ 3.6% 02/01/40</name>
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        <name>GAINESVILLE &amp; HA 5.5% 02/15/42</name>
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        <name>FULTON CNTY GA RSD 4% 04/01/41</name>
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        <name>CHICAGO IL BRD OF ZCP 12/01/28</name>
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        <name>STAMFORD CT HSG  6.5% 10/01/55</name>
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        <name>WASHINGTON ST HLTH 4% 10/01/45</name>
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        <name>HAWAII ST DEPT OF  4% 03/01/37</name>
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        <name>CALHOUN CNTY MI HO 5% 02/15/37</name>
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        <name>CLEVELAND-CUYA 5.875% 01/01/49</name>
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        <name>NFA 2022-1 A 4.375% 09/20/36</name>
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        <name>FRANKLIN CNTY OH H 4% 07/01/33</name>
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        <name>CALIFORNIA ST MUNI 4% 08/15/37</name>
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        <name>CAPE CORAL FL U 2.75% 09/01/25</name>
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        <name>CALIFORNIA STWD CM 5% 12/01/46</name>
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      <invstOrSec>
        <name>CMFA SPL FIN AGY V 4% 08/01/47</name>
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        <identifiers>
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        <name>RAMPART RANGE CO M 4% 12/01/51</name>
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        <name>GUAM PWR AUTH REVE 5% 10/01/44</name>
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        <name>PUERTO RICO CMWLTH 5% 07/01/35</name>
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        <name>GUAM GOVT HOTEL OC 5% 11/01/28</name>
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        <name>SOUTHLANDS CO MET  5% 12/01/47</name>
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        <name>STERLING RANCH  8.75% 12/15/54</name>
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        <name>LOUISIANA ST PUBL V/R 10/01/53</name>
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        <name>COLORADO ST HL 5.125% 12/01/55</name>
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        <name>CLEVELAND-CUYAHO 5.5% 12/01/43</name>
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        <name>ARIZONA INDL DEV  V/R 02/01/48</name>
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        <name>WHITING IN ENVRNM V/R 03/01/46</name>
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        <name>MONTGOMERY CNTY PA 5% 09/01/43</name>
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        <name>FRETE 2025-ML28  V/R 11/25/42</name>
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        <name>FORSYTH MT POL 3.875% 10/01/32</name>
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        <name>FAYETTE CNTY GA DE 5% 10/01/39</name>
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        <name>BERTHOUD-HERITA 4.75% 12/01/52</name>
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        <name>CHANDLER AZ INDL  V/R 09/01/52</name>
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        <name>ATLANTA GA DEV AUT 7% 01/01/40</name>
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        <title>PUERTO RICO ELEC PWR AUTH PWRR REGD OID B/E 4.62500000</title>
        <cusip>74526QEX6</cusip>
        <identifiers>
          <isin value="US74526QEX60"/>
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        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8325.00000000</valUSD>
        <pctVal>0.000206788338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
          <isDefault>Y</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>
      <invstOrSec>
        <name>PUBLIC FIN AUT 6.125% 11/15/37</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FIN AUTH WI REVENUE REGD OID B/E 6.12500000</title>
        <cusip>74442PC60</cusip>
        <identifiers>
          <isin value="US74442PC603"/>
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        <balance>1000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>968342.00000000</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>2037-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JEFFERSON CENTE 5.75% 12/15/50</name>
        <lei>N/A</lei>
        <title>JEFFERSON CENTER CO MET DIST # REGD OID B/E 5.75000000</title>
        <cusip>47248EAC6</cusip>
        <identifiers>
          <isin value="US47248EAC66"/>
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        <balance>665000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>668817.63000000</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>2050-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK ST TR 4.375% 10/01/45</name>
        <lei>N/A</lei>
        <title>NEW YORK ST TRANSPRTN DEV CORP REGD OID B/E AMT 4.37500000</title>
        <cusip>650116DA1</cusip>
        <identifiers>
          <isin value="US650116DA16"/>
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        <balance>2355000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2196826.43000000</valUSD>
        <pctVal>0.054567938503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PHILADELPHIA PA AU 5% 06/15/50</name>
        <lei>549300DIY68KQZEW7M79</lei>
        <title>PHILADELPHIA PA AUTH FOR INDL REGD B/E 5.00000000</title>
        <cusip>71781XGA5</cusip>
        <identifiers>
          <isin value="US71781XGA54"/>
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        <balance>1375000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1237291.55000000</valUSD>
        <pctVal>0.030733629334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-15</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>
      <invstOrSec>
        <name>ILLINOIS ST FIN 5.25% 04/01/45</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>ILLINOIS ST FIN AUTH REVENUE REGD B/E 5.25000000</title>
        <cusip>45204FWL5</cusip>
        <identifiers>
          <isin value="US45204FWL56"/>
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        <balance>2050000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2173758.91000000</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>2045-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHESTER CNTY PA  4.5% 10/01/64</name>
        <lei>N/A</lei>
        <title>CHESTER CNTY PA INDL DEV AUTH REGD OID B/E 4.50000000</title>
        <cusip>165588FW9</cusip>
        <identifiers>
          <isin value="US165588FW99"/>
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        <balance>2285000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1950739.46000000</valUSD>
        <pctVal>0.048455275954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MIDA MOUNTAIN VLG  4% 08/01/27</name>
        <lei>N/A</lei>
        <title>MIDA MOUNTAIN VLG PUBLIC INFRA REGD N/C B/E 4.00000000</title>
        <cusip>59561TAK9</cusip>
        <identifiers>
          <isin value="US59561TAK97"/>
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        <balance>1385000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1388452.25000000</valUSD>
        <pctVal>0.034488376486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>DIST OF COLUMBIA R 5% 06/01/41</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>DIST OF COLUMBIA REVENUE REGD B/E 5.00000000</title>
        <cusip>25483VYA6</cusip>
        <identifiers>
          <isin value="US25483VYA69"/>
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        <balance>1190000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1167575.28000000</valUSD>
        <pctVal>0.029001916222</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRAZORIA CNTY TX I 7% 03/01/39</name>
        <lei>N/A</lei>
        <title>BRAZORIA CNTY TX INDL DEV CORP REGD B/E AMT 7.00000000</title>
        <cusip>10604PAC7</cusip>
        <identifiers>
          <isin value="US10604PAC77"/>
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        <balance>250000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>200000.00000000</valUSD>
        <pctVal>0.004967888018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>Y</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH 5.25% 06/15/65</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FIN AUTH WI EDU REVENUE REGD OID B/E 5.25000000</title>
        <cusip>74442EMS6</cusip>
        <identifiers>
          <isin value="US74442EMS62"/>
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        <balance>1175000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1125776.55000000</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>2065-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALLENTOWN PA NEIGH 5% 05/01/42</name>
        <lei>N/A</lei>
        <title>ALLENTOWN PA NEIGHBORHOOD IMPT REGD B/E 5.00000000</title>
        <cusip>018444AY5</cusip>
        <identifiers>
          <isin value="US018444AY55"/>
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        <balance>4955000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4825876.17000000</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>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>ARIZONA ST INDL DE 4% 12/15/51</name>
        <lei>N/A</lei>
        <title>ARIZONA ST INDL DEV AUTH EDU R REGD B/E 4.00000000</title>
        <cusip>04052BMT8</cusip>
        <identifiers>
          <isin value="US04052BMT88"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>921652.21000000</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>2051-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CA  5.25% 07/01/53</name>
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        <cusip>544525T40</cusip>
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          <isin value="US544525T402"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>522671.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>NEW JERSEY ST T 5.25% 06/15/46</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>NEW JERSEY ST TRANSPRTN TRUSTF REGD B/E 5.25000000</title>
        <cusip>64613CFM5</cusip>
        <identifiers>
          <isin value="US64613CFM55"/>
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        <balance>695000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>725961.90000000</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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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>CSCDA CMNTY IMPT A 3% 12/01/56</name>
        <lei>N/A</lei>
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        <cusip>126292AR2</cusip>
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          <isin value="US126292AR25"/>
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        <balance>5500000.00000000</balance>
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        <valUSD>3749603.55000000</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>2056-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>LONGS PEAK MET  5.25% 12/01/51</name>
        <lei>N/A</lei>
        <title>LONGS PEAK MET DIST CO REGD B/E 5.25000000</title>
        <cusip>54316AAA1</cusip>
        <identifiers>
          <isin value="US54316AAA16"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>884528.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK ST TRANSP 5% 01/01/34</name>
        <lei>N/A</lei>
        <title>NEW YORK ST TRANSPRTN DEV CORP REGD B/E AMT 5.00000000</title>
        <cusip>650116CN4</cusip>
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          <isin value="US650116CN46"/>
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        <curCd>USD</curCd>
        <valUSD>1785884.45000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOUISIANA PUB FA 5.5% 09/01/59</name>
        <lei>549300RQIPT5S4P4M065</lei>
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        <cusip>546399SY3</cusip>
        <identifiers>
          <isin value="US546399SY35"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>620230.44000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HOUSTON TX ARPT SY 4% 07/15/41</name>
        <lei>N/A</lei>
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        <cusip>442349GA8</cusip>
        <identifiers>
          <isin value="US442349GA89"/>
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        <balance>8140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7523805.26000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-07-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>BUFFALO HIGHLAN 5.25% 12/01/38</name>
        <lei>N/A</lei>
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        <cusip>119541AA8</cusip>
        <identifiers>
          <isin value="US119541AA85"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>492338.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>DETROIT MI 5% 04/01/38</name>
        <lei>549300BQRJP7MKKHOY28</lei>
        <title>DETROIT MI REGD B/E 5.00000000</title>
        <cusip>2510933S7</cusip>
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          <isin value="US2510933S79"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>101882.82000000</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>2038-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>STERLING RANCH  8.25% 12/15/54</name>
        <lei>N/A</lei>
        <title>STERLING RANCH CMNTY AUTH BRD REGD B/E 8.25000000</title>
        <cusip>85950NAZ3</cusip>
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          <isin value="US85950NAZ33"/>
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        <balance>525000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-12-15</maturityDt>
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      <invstOrSec>
        <name>DIST OF COLUMBIA R 5% 07/01/25</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>DIST OF COLUMBIA REVENUE REGD N/C B/E 5.00000000</title>
        <cusip>25483VSZ8</cusip>
        <identifiers>
          <isin value="US25483VSZ84"/>
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        <balance>460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>461527.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST POL V/R 11/01/42</name>
        <lei>N/A</lei>
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        <cusip>130536RC1</cusip>
        <identifiers>
          <isin value="US130536RC13"/>
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        <balance>2270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2270206.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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      <invstOrSec>
        <name>NEW JERSEY ST ECON 5% 07/01/47</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>NEW JERSEY ST ECON DEV AUTH RE REGD B/E 5.00000000</title>
        <cusip>64577BG40</cusip>
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          <isin value="US64577BG401"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>239293.35000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MONTGOMERY CNTY TX 5% 09/15/48</name>
        <lei>N/A</lei>
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        <cusip>61371DAT1</cusip>
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        <balance>1335000.00000000</balance>
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        <valUSD>1336374.52000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK NY CITY 5.5% 11/01/49</name>
        <lei>5493003476LG35QAKM08</lei>
        <title>NEW YORK NY CITY TRANSITIONAL REGD B/E 5.50000000</title>
        <cusip>64972JPR3</cusip>
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          <isin value="US64972JPR31"/>
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        <balance>380000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-01</maturityDt>
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        <name>MONROE CNTY PA H 5.1% 06/15/39</name>
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          <maturityDt>2039-06-15</maturityDt>
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          <annualizedRt>5.10000000</annualizedRt>
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        <name>PHOENIX AZ INDL DE 5% 07/01/35</name>
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        <cusip>71885FDU8</cusip>
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        <balance>375000.00000000</balance>
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        <name>ILLINOIS ST SALES  5% 06/15/27</name>
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      <invstOrSec>
        <name>DENVER CITY &amp; CNTY 5% 10/01/32</name>
        <lei>MMTY7HA2MSCBUO4F7J71</lei>
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        <name>AEROTROPOLIS RE 5.75% 12/01/54</name>
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      <invstOrSec>
        <name>CAPE GIRARDEAU CNT 5% 03/01/36</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DELAWARE ST ECON D 5% 08/01/49</name>
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        <name>MET GOVT NASHVILL ZCP 06/01/43</name>
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        <name>MARYLAND ST HLTH &amp; 4% 06/01/46</name>
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      <invstOrSec>
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        <name>ALAMEDA CA CORRIDO 5% 10/01/37</name>
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        <name>CALIFORNIA CMNTY H 4% 02/01/56</name>
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        <cusip>13013FAJ3</cusip>
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          <isin value="US13013FAJ30"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>AUSTIN CONVENTION  5% 01/01/28</name>
        <lei>N/A</lei>
        <title>AUSTIN CONVENTION ENTERPRISES REGD B/E 5.00000000</title>
        <cusip>052409EC9</cusip>
        <identifiers>
          <isin value="US052409EC91"/>
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        <balance>575000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>ROCHESTER MN HL 5.25% 12/01/38</name>
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        <cusip>771906DG6</cusip>
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          <isin value="US771906DG67"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>NATIONAL FIN AU 5.25% 07/01/39</name>
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        <identifiers>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW HAMPSHIRE  4.125% 01/20/34</name>
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        <cusip>63607WAA2</cusip>
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          <isin value="US63607WAA27"/>
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        <name>PENNSYLVANIA ST 5.25% 07/01/46</name>
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        <name>OHIO ST HSG FIN AG 6% 01/01/45</name>
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        <name>NEW YORK ST TRANSP 5% 12/01/42</name>
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        <name>DENVER CO INTERNAT 6% 12/01/48</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>KENTUCKY ST EC 5.375% 11/15/42</name>
        <lei>N/A</lei>
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        <cusip>49126TAJ1</cusip>
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        <name>PUBLIC FIN AUTH WI 5% 04/01/50</name>
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        <name>PUBLIC FIN AUTH WI 5% 10/01/48</name>
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      <invstOrSec>
        <name>TRAVIS CNTY TX DEV 5% 09/01/44</name>
        <lei>N/A</lei>
        <title>TRAVIS CNTY TX DEV AUTH CONTRA REGD B/E 5.00000000</title>
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        <identifiers>
          <isin value="US89441AAX54"/>
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        <balance>605000.00000000</balance>
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      <invstOrSec>
        <name>VIRGINIA ST SMALL  4% 01/01/37</name>
        <lei>N/A</lei>
        <title>VIRGINIA ST SMALL BUSINESS FIN REGD B/E AMT 4.00000000</title>
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          <isin value="US928104NV62"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-01</maturityDt>
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        <name>LA PAZ CNTY AZ IND 4% 02/15/46</name>
        <lei>N/A</lei>
        <title>LA PAZ CNTY AZ INDL DEV AUTH E REGD B/E 4.00000000</title>
        <cusip>50376FBR7</cusip>
        <identifiers>
          <isin value="US50376FBR73"/>
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        <balance>345000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>283457.14000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HARRIS CNTY-HOUSTO 5% 11/15/42</name>
        <lei>N/A</lei>
        <title>HARRIS CNTY-HOUSTON TX SPORTS REGD B/E AGC 5.00000000</title>
        <cusip>413890HX5</cusip>
        <identifiers>
          <isin value="US413890HX51"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>261856.18000000</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>2042-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NORTH CAROLINA  6.25% 01/01/55</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
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        <cusip>6582077Q2</cusip>
        <identifiers>
          <isin value="US6582077Q23"/>
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        <balance>170000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>188310.87000000</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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      <invstOrSec>
        <name>PUERTO RICO ELEC P 5% 07/01/27</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <curCd>USD</curCd>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>COBB CNTY GA DEV 6.4% 06/15/53</name>
        <lei>N/A</lei>
        <title>COBB CNTY GA DEV AUTH CHARTERS REGD B/E 6.40000000</title>
        <cusip>190779AH1</cusip>
        <identifiers>
          <isin value="US190779AH17"/>
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        <balance>100000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
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          <maturityDt>2053-06-15</maturityDt>
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        <name>WOODBURY MN CHRT S 4% 07/01/51</name>
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        <name>FIREFLY PUBLIC 5.625% 12/01/43</name>
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        <issuerCat>MUN</issuerCat>
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        <name>ILLINOIS ST HSG DE 3% 04/01/51</name>
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        <name>CMFA SPL FIN AG 3.25% 02/01/57</name>
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        <name>SULLIVAN CNTY N 5.35% 11/01/49</name>
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        <identifiers>
          <isin value="US865273AF33"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>SALT LAKE CITY UT  5% 07/01/46</name>
        <lei>N/A</lei>
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        <balance>395000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2046-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>TREE FARM MET DI 4.5% 12/01/41</name>
        <lei>N/A</lei>
        <title>TREE FARM MET DIST CO REGD B/E 4.50000000</title>
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          <isin value="US894676AA31"/>
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        <curCd>USD</curCd>
        <valUSD>445049.95000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MONONGALIA CNT 4.875% 06/01/43</name>
        <lei>N/A</lei>
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        <cusip>61022CAH2</cusip>
        <identifiers>
          <isin value="US61022CAH25"/>
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        <curCd>USD</curCd>
        <valUSD>318726.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HANOVER CNTY VA EC 5% 07/01/48</name>
        <lei>N/A</lei>
        <title>HANOVER CNTY VA ECON DEV AUTHR REGD B/E 5.00000000</title>
        <cusip>41077CAR6</cusip>
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          <isin value="US41077CAR60"/>
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        <balance>500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>480082.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATIONAL FIN A 4.168% 01/20/41</name>
        <lei>N/A</lei>
        <title>NATIONAL FIN AUTH NH MUNI CTFS REGD N/C B/E 4.16800000</title>
        <cusip>63607WBD5</cusip>
        <identifiers>
          <isin value="US63607WBD56"/>
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        <balance>1935000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1870631.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.16800000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORMAN OK REGL HOS 5% 09/01/37</name>
        <lei>N/A</lei>
        <title>NORMAN OK REGL HOSP AUTH HOSP REGD B/E 5.00000000</title>
        <cusip>656178EF3</cusip>
        <identifiers>
          <isin value="US656178EF38"/>
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        <balance>780000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>712562.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-01</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>
      <invstOrSec>
        <name>NTHRN AK TOBACCO  ZCP 06/01/66</name>
        <lei>N/A</lei>
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        <cusip>66585VCB9</cusip>
        <identifiers>
          <isin value="US66585VCB99"/>
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        <balance>2275000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>301492.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VIRGINIA ST SMALL  5% 12/01/34</name>
        <lei>N/A</lei>
        <title>VIRGINIA ST SMALL BUSINESS FIN REGD B/E 5.00000000</title>
        <cusip>928103AV2</cusip>
        <identifiers>
          <isin value="US928103AV27"/>
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        <balance>195000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>204388.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK CITY NY T 4% 05/01/44</name>
        <lei>N/A</lei>
        <title>NEW YORK CITY NY TRANSITIONAL REGD B/E 4.00000000</title>
        <cusip>64971XUG1</cusip>
        <identifiers>
          <isin value="US64971XUG14"/>
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        <balance>315000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>293847.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUBLIC FIN AUT 5.875% 11/15/27</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FIN AUTH WI REVENUE REGD OID B/E 5.87500000</title>
        <cusip>74442PC52</cusip>
        <identifiers>
          <isin value="US74442PC520"/>
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        <balance>750000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>748059.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTH CAROLINA ST  5% 01/01/52</name>
        <lei>N/A</lei>
        <title>SOUTH CAROLINA ST HSG FIN &amp; DE REGD B/E 5.00000000</title>
        <cusip>83712DY91</cusip>
        <identifiers>
          <isin value="US83712DY913"/>
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        <balance>940000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>975351.99000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>IOWA ST FIN AU 5.125% 05/15/59</name>
        <lei>549300NQVL49BTHOW391</lei>
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        <cusip>46247SFV1</cusip>
        <identifiers>
          <isin value="US46247SFV16"/>
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        <balance>600000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>581533.32000000</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>2059-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDIANA FIN AUTH M 5% 07/01/59</name>
        <lei>N/A</lei>
        <title>INDIANA FIN AUTH MIDWESTERN DI REGD B/E 5.00000000</title>
        <cusip>45471FAY7</cusip>
        <identifiers>
          <isin value="US45471FAY79"/>
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        <balance>2025000.00000000</balance>
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        <valUSD>1952501.76000000</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>2059-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OREGON ST 3.5% 12/01/50</name>
        <lei>549300R5SUGZRD8KP359</lei>
        <title>OREGON ST REGD B/E 3.50000000</title>
        <cusip>68609TYM4</cusip>
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          <isin value="US68609TYM43"/>
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        <balance>380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>378492.62000000</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>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>POMPANO BEACH FL 3.5% 09/01/35</name>
        <lei>N/A</lei>
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        <cusip>732203BB9</cusip>
        <identifiers>
          <isin value="US732203BB90"/>
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        <balance>1075000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>RIVERWALK METRO DI 5% 12/01/52</name>
        <lei>N/A</lei>
        <title>RIVERWALK METRO DIST #2 CO REGD B/E 5.00000000</title>
        <cusip>769504AC5</cusip>
        <identifiers>
          <isin value="US769504AC56"/>
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        <balance>1865000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1604425.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>JEFFERSON CNTY  5.25% 10/01/40</name>
        <lei>N/A</lei>
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        <cusip>472682ZK2</cusip>
        <identifiers>
          <isin value="US472682ZK29"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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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>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>ILLINOIS ST HSG DE 6% 10/01/54</name>
        <lei>54930053Z6M9JVHBQZ16</lei>
        <title>ILLINOIS ST HSG DEV AUTH REVEN REGD B/E GNMA/FN 6.00000000</title>
        <cusip>45203MWL1</cusip>
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          <isin value="US45203MWL17"/>
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        <balance>340000.00000000</balance>
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        <valUSD>366074.19000000</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>2054-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MONTGOMERY CNTY TX 5% 09/15/34</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OHIO ST HGR EDUCTN 5% 12/01/45</name>
        <lei>5493007MQT6NGNN6BR81</lei>
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          <isin value="US67756DXK70"/>
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      <invstOrSec>
        <name>NATIONAL FIN AUTH V/R 07/01/43</name>
        <lei>N/A</lei>
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        <name>VIRGINIA ST SMALL  4% 01/01/51</name>
        <lei>N/A</lei>
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        <name>WAKARA RIDGE P 5.625% 12/01/54</name>
        <lei>N/A</lei>
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          <isin value="US930814AA69"/>
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      <invstOrSec>
        <name>PRINCE GEORGES 5.125% 07/01/39</name>
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      <invstOrSec>
        <name>GUAM GOVT BUSINESS 4% 11/15/39</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PUERTO RICO CMWLTH 5% 07/01/37</name>
        <lei>N/A</lei>
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        <cusip>745160TS0</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ILLINOIS ST 5.5% 03/01/42</name>
        <lei>54930048FV8RWPR02D67</lei>
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        <cusip>452153DA4</cusip>
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          <isin value="US452153DA45"/>
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        <balance>3410000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>ILLINOIS ST FIN AU 5% 05/15/35</name>
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        <name>ATLANTIC BEACH FL  5% 11/15/43</name>
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        <name>PUERTO RICO CMWLT V/R 11/01/43</name>
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        <name>JAMES CITY CNT 6.875% 12/01/58</name>
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        <name>TEXAS ST TRANSPRTN 5% 08/01/57</name>
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        <name>SIOUX FALLS SD HLT 5% 11/01/42</name>
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        <name>MINNESOTA ST HSG 6.5% 07/01/54</name>
        <lei>549300R89XDTQBK4GE22</lei>
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        <name>NORTH CAROLINA ST  5% 07/01/44</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>MISSOURI ST HSG 5.75% 05/01/55</name>
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        <name>OHIO ST AIR QUA 3.65% 12/01/27</name>
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        <name>GUAM PWR AUTH REVE 5% 10/01/33</name>
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        <name>WISCONSIN ST HLTH  4% 09/15/36</name>
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        <name>INDIANA ST FIN A 5.5% 09/15/39</name>
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        <name>SAINT LOUIS CNTY M 5% 12/01/25</name>
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        <name>SHELBY CNTY TN HL V/R 09/01/49</name>
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        <title>INDIANA ST FIN AUTH ENVRNMNTL REGD N/C B/E 4.12500000</title>
        <cusip>455054BE5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>VLG FL CDD #13 S 3.5% 05/01/51</name>
        <lei>N/A</lei>
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        <cusip>92708HAK0</cusip>
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          <isin value="US92708HAK05"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COLORADO EDUCTN 5.75% 04/01/59</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAINT LOUIS CN 5.125% 12/01/45</name>
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        <cusip>791524BY6</cusip>
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          <isin value="US791524BY67"/>
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        <curCd>USD</curCd>
        <valUSD>133681.14000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DELAWARE ST HSG AU 6% 01/01/55</name>
        <lei>N/A</lei>
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        <cusip>246395F77</cusip>
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          <isin value="US246395F772"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-01-01</maturityDt>
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      <invstOrSec>
        <name>ARIZONA ST INDL DE 4% 07/01/41</name>
        <lei>N/A</lei>
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        <cusip>04052BQF4</cusip>
        <identifiers>
          <isin value="US04052BQF49"/>
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        <balance>575000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MONROE CNTY PA HOS 8% 06/15/39</name>
        <lei>N/A</lei>
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        <cusip>610772AB1</cusip>
        <identifiers>
          <isin value="US610772AB17"/>
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        <balance>1485000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1488357.73000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>YAMHILL CNTY OR HO 5% 11/15/51</name>
        <lei>N/A</lei>
        <title>YAMHILL CNTY OR HOSP AUTH REGD B/E 5.00000000</title>
        <cusip>98464UAX4</cusip>
        <identifiers>
          <isin value="US98464UAX46"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>939215.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARYLAND ST HLTH &amp; 5% 07/01/36</name>
        <lei>N/A</lei>
        <title>MARYLAND ST HLTH &amp; HGR EDUCTNL REGD B/E 5.00000000</title>
        <cusip>574218C35</cusip>
        <identifiers>
          <isin value="US574218C353"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101279.55000000</valUSD>
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        <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>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>AKRON BATH COPLEY  4% 11/15/37</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US009730PU05"/>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1507888.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>VIRGIN ISLANDS PUB 5% 10/01/39</name>
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          <isin value="US927676TM83"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW YORK NY CITY T 5% 11/01/50</name>
        <lei>5493003476LG35QAKM08</lei>
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          <isin value="US64972JTG30"/>
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        <name>KENTUCKY ST ECON D 5% 06/01/37</name>
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        <name>GOLDEN ST TOBACCO  5% 06/01/51</name>
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      <invstOrSec>
        <name>HAMILTON CNTY OH H 5% 01/01/46</name>
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        <name>CSCDA CMNTY IMPT 3.1% 07/01/45</name>
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        <name>SAINT LOUIS MO 5.125% 06/01/46</name>
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        <name>MIAMI BEACH FL HLT 3% 11/15/51</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>HARRIS CNTY-HOUSTO 5% 11/15/41</name>
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        <cusip>413890HW7</cusip>
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      <invstOrSec>
        <name>CSCDA CMNTY IM 3.125% 07/01/56</name>
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        <cusip>126292BW0</cusip>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>SOUTH DAKOTA ST HL 5% 11/01/45</name>
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        <name>ILLINOIS ST 5% 10/01/32</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PUBLIC FIN AUTH WI 4% 06/15/29</name>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
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          <maturityDt>2029-06-15</maturityDt>
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      <invstOrSec>
        <name>GUAM GOVT HOTEL OC 5% 11/01/30</name>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2030-11-01</maturityDt>
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        <name>MONTGOMERY CNT 5.375% 01/01/50</name>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
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        <name>WASHINGTON ST HSG  5% 07/01/54</name>
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        <name>TEXAS ST MUNI GAS V/R 01/01/55</name>
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        <name>S JERSEY NJ TRANSP 5% 11/01/25</name>
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        <name>GRAND RAPIDS MI EC 5% 11/01/37</name>
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        <name>INDIANA ST FIN AUT 5% 11/15/38</name>
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        <name>WASHINGTON ST HSG  5% 07/01/38</name>
        <lei>549300YL1HU59NREG764</lei>
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        <name>FLORIDA ST DEV FIN 4% 06/01/55</name>
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      <invstOrSec>
        <name>ESCAMBIA CNTY FL  V/R 11/01/33</name>
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          <isin value="US29610QAH65"/>
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        <name>HARRIS CNTY TX CUL 5% 01/01/43</name>
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          <maturityDt>2043-01-01</maturityDt>
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        <name>COLORADO ST HLTH F 5% 01/01/37</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>DENTON CNTY TX 5.375% 12/31/45</name>
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          <isin value="US24880GAM15"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HOMEWOOD AL EDUCTN 5% 10/01/56</name>
        <lei>N/A</lei>
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        <cusip>437887HZ8</cusip>
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      <invstOrSec>
        <name>GUAM INTERNATIONAL 5% 10/01/29</name>
        <lei>N/A</lei>
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        <cusip>40064RGC7</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>DETROIT MI 5% 04/01/50</name>
        <lei>549300BQRJP7MKKHOY28</lei>
        <title>DETROIT MI REGD B/E 5.00000000</title>
        <cusip>2510935F3</cusip>
        <identifiers>
          <isin value="US2510935F31"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>755842.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW HOPE CULTU 5.375% 11/15/36</name>
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        <cusip>64542UCY8</cusip>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>MASSACHUSETTS ST D 5% 07/15/36</name>
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        <name>PUERTO RICO ELE 5.25% 07/01/28</name>
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        <name>ARLINGTON TX HGR E 5% 08/15/54</name>
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        <name>PUERTO RICO ELE 5.75% 07/01/36</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <name>NEW JERSEY ST TRAN 4% 06/15/45</name>
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        <name>GUAM PWR AUTH REVE 5% 10/01/42</name>
        <lei>549300IPOV320QCKW060</lei>
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        <name>SUNSET PARKS M 5.125% 12/01/54</name>
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      <invstOrSec>
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        <name>GTR ASHEVILLE RE 5.5% 07/01/47</name>
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        <name>MARYLAND ST ECON D 5% 06/01/58</name>
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        <name>TEXAS ST PRIV ACTI 5% 12/31/34</name>
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        <name>S JERSEY NJ TRANSP 5% 11/01/45</name>
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        <name>S E ALABAMA ST GA V/R 06/01/49</name>
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        <name>SOUTHEAST ENERGY  V/R 11/01/55</name>
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        <name>WISCONSIN ST HLTH  4% 09/15/41</name>
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        <name>FARMINGTON NM P 2.15% 04/01/33</name>
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        <name>PHILADELPHIA PA AU 5% 07/01/31</name>
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        <name>WEST SACRAMENTO CA 5% 09/01/34</name>
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        <name>RHODE ISLAND S 4.125% 12/01/41</name>
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        <name>MONTGOMERY CNTY T V/R 07/01/38</name>
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        <name>NORMAN OK REGL HOS 5% 09/01/45</name>
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        <name>HOOVER AL INDL  5.75% 10/01/49</name>
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      <invstOrSec>
        <name>MALABAR SPRINGS  5.5% 05/01/54</name>
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      <invstOrSec>
        <name>WASHINGTON ST HGR  4% 05/01/50</name>
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        <name>TULSA CNTY OK INDL 5% 11/15/29</name>
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        <name>VIRGINIA ST SMALL  4% 01/01/40</name>
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        <name>CAPITAL TRUST AGY  5% 10/15/52</name>
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      <invstOrSec>
        <name>SHELBY CNTY TN  5.25% 12/01/49</name>
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        <name>PUERTO RICO SAL 4.55% 07/01/40</name>
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        <name>HIGHLANDS MET DIST 5% 12/01/41</name>
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        <name>FLORIDA ST HGR EDU 5% 06/01/48</name>
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        <name>LTC RANCH WEST  5.65% 05/01/54</name>
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        <name>CHESAPEAKE VA  4.875% 07/15/40</name>
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        <name>CLIFTON TX HGR 4.125% 08/15/49</name>
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      <invstOrSec>
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      <invstOrSec>
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        <name>BALTIMORE MD CONVE 5% 09/01/46</name>
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        <name>WASHINGTON ST CONV 3% 07/01/48</name>
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        <name>WESTCHESTER CNT 5.75% 11/01/49</name>
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        <name>UNIV OF PUERTO RIC 5% 06/01/30</name>
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        <name>KENTWOOD MI ECON D 4% 11/15/31</name>
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        <name>NEW YORK ST TRANSP 0% 12/31/54</name>
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        <name>ARIZONA ST INDL DE 5% 07/15/49</name>
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        <name>VIERA STEWARDSHI 5.3% 05/01/43</name>
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        <name>GUAM PWR AUTH REVE 5% 10/01/43</name>
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      <invstOrSec>
        <name>NEW YORK ST TRA 5.25% 06/30/60</name>
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      <invstOrSec>
        <name>PUERTO RICO ELE 5.25% 07/01/24</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ARKANSAS ST DEV  4.5% 09/01/49</name>
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          <isin value="US04108WCC47"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-09-01</maturityDt>
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        <name>DOUBLE BRANCH FL C 4% 05/01/25</name>
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        <cusip>25856MAT0</cusip>
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          <isin value="US25856MAT09"/>
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        <curCd>USD</curCd>
        <valUSD>15004.09000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>ESPLANADE LAKE CLU 4% 11/01/40</name>
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          <isin value="US29665MAC01"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>CALIFORNIA ST STWD 5% 09/02/39</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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          <isin value="US13078YQF50"/>
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        <balance>745000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>HUTTO TX INDEP SCH 5% 08/01/54</name>
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          <isin value="US4484925R50"/>
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        <balance>4190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4348843.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SALT RIVER AZ PROJ 5% 01/01/47</name>
        <lei>SHB8HO6GKXJ83RX5OV39</lei>
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        <cusip>79574CFL2</cusip>
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          <isin value="US79574CFL28"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SIERRA VISTA AZ IN 5% 06/15/44</name>
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        <cusip>82652UAV4</cusip>
        <identifiers>
          <isin value="US82652UAV44"/>
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        <balance>2220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2178111.71000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW YORK CITY NY I 3% 03/01/49</name>
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        <name>FRETE 2024-ML26  V/R 12/25/38</name>
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        <name>INDIANA ST FIN AUT 4% 11/15/43</name>
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        <name>WESTSIDE HAINES 3.25% 05/01/41</name>
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        <name>MET WASHINGTON DC ZCP 10/01/39</name>
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        <name>NATIONAL FIN AUTH  4% 01/01/41</name>
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        <name>MIDAS MOUNTAIN VET 5% 06/01/44</name>
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        <name>MICHIGAN ST FIN AU 4% 11/15/50</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>MARYLAND ST HLTH &amp; 5% 07/01/45</name>
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      <invstOrSec>
        <name>MARICOPA CNTY AZ 3.5% 07/01/44</name>
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      <invstOrSec>
        <name>FULTON CNTY GA RSD 5% 04/01/54</name>
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          <isin value="US360058FG14"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>SALEM OR HOSP FAC  4% 05/15/40</name>
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          <isin value="US794458GJ24"/>
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      <invstOrSec>
        <name>CHICAGO IL 5.5% 01/01/41</name>
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        <cusip>167486P78</cusip>
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          <isin value="US167486P781"/>
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        <issuerCat>MUN</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHICAGO IL 5% 01/01/40</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
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        <cusip>167486D97</cusip>
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          <isin value="US167486D977"/>
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        <balance>205000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOUISA VA INDL DE V/R 11/01/35</name>
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        <cusip>546068AY3</cusip>
        <identifiers>
          <isin value="US546068AY35"/>
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        <balance>1405000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>AURORA CROSSROADS  5% 12/01/40</name>
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        <identifiers>
          <isin value="US05162QAA31"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>TALON POINTE CO 5.25% 12/01/51</name>
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        <cusip>874838AC9</cusip>
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          <isin value="US874838AC93"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>725295.10000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>SALT LAKE CITY UT  5% 07/01/47</name>
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        <name>LAS VEGAS NV SPL I 5% 12/01/35</name>
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        <name>MANHATTAN KS HLTH  4% 06/01/36</name>
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        <name>VIRGINIA ST SMALL  4% 01/01/41</name>
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      <invstOrSec>
        <name>NEW HOPE CULTU 4.625% 10/01/30</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PUERTO RICO SAL 4.75% 07/01/53</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>WESTCHESTER CNTY N 5% 01/01/41</name>
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      <invstOrSec>
        <name>OKLAHOMA CNTY OK F 2% 12/01/47</name>
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      <invstOrSec>
        <name>CALIFORNIA ST MUNI 4% 11/15/56</name>
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        <cusip>13049RBS4</cusip>
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        <curCd>USD</curCd>
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        <name>MISSOURI ST HLTH &amp; 4% 11/15/48</name>
        <lei>549300IWTBCMX5JB3277</lei>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MIAMI-DADE CNTY 5.25% 04/01/44</name>
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        <cusip>59333APS4</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-04-01</maturityDt>
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        <name>CALIFORNIA ST HLTH 5% 12/01/28</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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        <cusip>13032UT40</cusip>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>527624.40000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>VIERA STEWARDS 3.125% 05/01/41</name>
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        <cusip>92670TAC6</cusip>
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          <isin value="US92670TAC62"/>
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        <balance>820000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>640246.41000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-01</maturityDt>
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      <invstOrSec>
        <name>DETROIT MI 5.5% 04/01/37</name>
        <lei>549300BQRJP7MKKHOY28</lei>
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          <isin value="US2510934K35"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>NEW YORK CITY NY T 5% 02/01/47</name>
        <lei>N/A</lei>
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        <name>OHIO ST AIR QU 2.875% 02/01/26</name>
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        <name>PUERTO RICO ELE 5.25% 07/01/26</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <name>ALASKA ST INDL DEV 5% 01/01/30</name>
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        <name>DOYLESTOWN PA  5.375% 07/01/39</name>
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      <invstOrSec>
        <name>LEE CNTY FL INDL D 5% 11/15/54</name>
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        <name>PENNSYLVANIA ST TU 4% 12/01/46</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
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        <name>VLG FL CDD #12 4.375% 05/01/50</name>
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        <name>PUERTO RICO SALES ZCP 07/01/31</name>
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        <name>SOUTH DAKOTA ST  6.5% 11/01/55</name>
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        <name>COLORADO ST HLTH F 4% 05/15/36</name>
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        <name>LOUISVILLE &amp; JEFFE 3% 10/01/43</name>
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        <name>INDIANA ST FIN  5.75% 07/01/60</name>
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      <invstOrSec>
        <name>CLIFTON TX HGR  5.75% 06/15/44</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>DUBOIS PA HOSP AUT 4% 07/15/43</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>HAMILTON CNTY OH H 5% 01/01/47</name>
        <lei>549300TO1E3N4E4YIO28</lei>
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      <invstOrSec>
        <name>NATIONAL FIN AUTH V/R 08/01/38</name>
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        <cusip>63608RAG9</cusip>
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          <isin value="US63608RAG92"/>
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        <name>HONOLULU CITY &amp; 5.25% 07/01/54</name>
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          <isin value="US4387014H42"/>
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      <invstOrSec>
        <name>VIRGINIA ST SMAL 5.5% 12/01/54</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CO HIGH PERFORMANC 5% 12/31/56</name>
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        <cusip>19648DAD1</cusip>
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          <isin value="US19648DAD12"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>ILLINOIS ST FIN AU 5% 02/15/50</name>
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        <cusip>45203KAQ8</cusip>
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          <isin value="US45203KAQ85"/>
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        <balance>160000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>NORTH CAROLINA ST  4% 01/01/52</name>
        <lei>549300FH6KOXGCHQYG81</lei>
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        <cusip>65820YSS6</cusip>
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          <isin value="US65820YSS62"/>
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        <fairValLevel>2</fairValLevel>
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        <name>HANOVER CNTY VA EC 5% 07/01/38</name>
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        <balance>500000.00000000</balance>
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        <name>ARKANSAS ST DEV 4.65% 07/01/50</name>
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        <cusip>041083ZC3</cusip>
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        <name>PUERTO RICO CMWLTH 5% 07/01/37</name>
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        <name>KENTUCKY ST ECON D 5% 05/15/46</name>
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        <name>MASSACHUSETTS ST E 2% 07/01/37</name>
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        <name>CHICAGO IL WTRWKS  5% 11/01/38</name>
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        <name>TAMPA FL CAPITAL  ZCP 09/01/37</name>
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        <name>PHOENIX AZ INDL DE 5% 07/01/59</name>
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      <invstOrSec>
        <name>NIAGARA NY AREA 4.75% 11/01/42</name>
        <lei>N/A</lei>
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        <name>ARIZONA ST IND 5.375% 07/01/50</name>
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        <name>DELAWARE ST ECON D 5% 08/01/39</name>
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        <name>MISSOURI ST HLTH &amp; 5% 02/01/35</name>
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        <name>GERALD R FORD INTE 5% 01/01/46</name>
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        <name>LANCASTER CNTY P 5.5% 07/01/45</name>
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        <name>NORTH CAROLINA ST  5% 10/01/45</name>
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        <name>PUBLIC FIN AUTH WI 4% 07/01/30</name>
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        <name>DUBOIS PA HOSP AUT 5% 07/15/35</name>
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        <name>PENNSYLVANIA H 2.625% 06/01/42</name>
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        <name>BALTIMORE MD CONVE 5% 09/01/36</name>
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        <name>VENICE FL 5% 01/01/47</name>
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        <name>NEW HOPE CULTURAL  5% 04/01/35</name>
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        <name>NORMAN OK REGL HOS 5% 09/01/27</name>
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      <invstOrSec>
        <name>PHILADELPHIA PA AU 5% 06/15/40</name>
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        <name>NEW CANEY TX INDEP 4% 02/15/54</name>
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      <invstOrSec>
        <name>SPARKS NV SPL  5.125% 06/01/54</name>
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        <name>DENVER CO GATE 5.625% 12/01/48</name>
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        <name>E-470 CO PUBLIC HI 5% 09/01/40</name>
        <lei>549300164ZV2301BC703</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA CMNTY H 4% 08/01/46</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOUISIANA ST LOC 2.5% 04/01/36</name>
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        <name>RHODE ISLAND S 4.125% 12/01/43</name>
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        <name>DETROIT MI 5% 04/01/33</name>
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        <name>LAKES OF SARAS 4.125% 05/01/31</name>
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        <name>FLORIDA ST DEV FI V/R 07/01/32</name>
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        <name>IOWA ST STUDENT LO 3% 12/01/39</name>
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        <name>AUSTIN CONVENTION  5% 01/01/34</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW HOPE CULTURA 5.5% 11/15/52</name>
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      <invstOrSec>
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        <name>OREGON ST FACS AUT 5% 06/01/52</name>
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        <name>PUBLIC FIN AUTH WI 5% 12/01/25</name>
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          <isin value="US74443QAC69"/>
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        <name>WASHINGTON ST HSG  5% 01/01/56</name>
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        <name>WATERVIEW II MET 4.5% 12/01/31</name>
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        <cusip>94222GAA7</cusip>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
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      <invstOrSec>
        <name>MET PIER &amp; EXPOSIT 4% 06/15/52</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CAPITAL TRUST AUTH 5% 06/01/54</name>
        <lei>N/A</lei>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1720850.76000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MIDA MOUNTAIN VLG  4% 08/01/30</name>
        <lei>N/A</lei>
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        <cusip>59561TAN3</cusip>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>445403.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>DENTON CNTY TX  5.25% 12/31/44</name>
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        <cusip>24880GAH2</cusip>
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        <balance>149000.00000000</balance>
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        <name>ALLENTOWN PA NEIGH 5% 05/01/27</name>
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        <name>CALIFORNIA ST MUNI 5% 10/01/26</name>
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        <name>BABCOCK RANCH C 5.25% 05/01/55</name>
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        <name>ALASKA ST INDL DEV 5% 01/01/34</name>
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        <name>AEROTROPOLIS R 4.375% 12/01/52</name>
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        <name>HURST-EULESS-BEDFO 4% 08/15/50</name>
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        <name>BUILD NYC RESOURCE 5% 06/15/51</name>
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        <name>ORANGE CNTY FL HLT 5% 08/01/35</name>
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        <name>CSCDA CMNTY IMPT A 3% 06/01/48</name>
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        <name>MIDA MOUNTAIN VLG  4% 08/01/31</name>
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      <invstOrSec>
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        <lei>549300HC854CNBLMWC48</lei>
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      <invstOrSec>
        <name>MIDA MOUNTAIN V 5.75% 06/15/44</name>
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      <invstOrSec>
        <name>WESTCHESTER CNT 5.75% 11/01/48</name>
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      <invstOrSec>
        <name>PENNSYLVANIA ST EC 5% 06/30/42</name>
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        <cusip>70869PHX8</cusip>
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          <isin value="US70869PHX87"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VIRGINIA ST HSG 4.65% 09/01/55</name>
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        <curCd>USD</curCd>
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        <name>DENVER CITY &amp; CNTY 3% 09/15/45</name>
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      <invstOrSec>
        <name>BALTIMORE MD CONVE 5% 09/01/31</name>
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          <isin value="US05921PBX69"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KALISPEL TRIBE  5.25% 01/01/38</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-01-01</maturityDt>
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      <invstOrSec>
        <name>CHICAGO IL BRD OF ZCP 12/01/25</name>
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        <cusip>167505WH5</cusip>
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          <isin value="US167505WH51"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TEXAS ST TURNPIKE ZCP 08/15/28</name>
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        <cusip>882762FC6</cusip>
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        <name>COLORADO ST HLTH F 4% 12/01/40</name>
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        <name>NEW JERSEY ST TRAN 4% 06/15/50</name>
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        <name>UPPER IL RIVER  5.25% 12/01/47</name>
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        <name>CALIFORNIA ST INFR 5% 11/01/47</name>
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        <name>NEW JERSEY ST T 5.25% 06/15/46</name>
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        <name>PUBLIC FIN AUTH WI 5% 06/15/34</name>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WI 5% 07/01/60</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>NFA 2022-2 A 4% 10/20/36</name>
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      <invstOrSec>
        <name>MARYLAND ST ECON D 5% 06/01/49</name>
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        <cusip>57420NCV1</cusip>
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          <isin value="US57420NCV10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N RANGE CO MET  5.75% 12/01/47</name>
        <lei>N/A</lei>
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        <cusip>66176MAF7</cusip>
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          <isin value="US66176MAF77"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>KALISPELL MT HS 5.25% 05/15/47</name>
        <lei>N/A</lei>
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        <cusip>48342YAR2</cusip>
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          <isin value="US48342YAR27"/>
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        <balance>1040000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>910771.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JOPLIN MO INDL D 3.5% 11/01/40</name>
        <lei>N/A</lei>
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        <cusip>48068CAA9</cusip>
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          <isin value="US48068CAA99"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>MICHIGAN ST STRATE 5% 05/15/37</name>
        <lei>N/A</lei>
        <title>MICHIGAN ST STRATEGIC FUND LTD REGD B/E 5.00000000</title>
        <cusip>594698RR5</cusip>
        <identifiers>
          <isin value="US594698RR58"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>247243.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>FORT BEND CNTY  4.75% 11/01/42</name>
        <lei>N/A</lei>
        <title>FORT BEND CNTY TX INDL DEV COR REGD B/E 4.75000000</title>
        <cusip>346786AH9</cusip>
        <identifiers>
          <isin value="US346786AH99"/>
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        <balance>955000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>937361.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>TOBACCO SETTLEMENT 5% 06/01/25</name>
        <lei>N/A</lei>
        <title>TOBACCO SETTLEMENT FING CORP N REGD N/C B/E 5.00000000</title>
        <cusip>888808HA3</cusip>
        <identifiers>
          <isin value="US888808HA37"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1002081.40000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CSCDA CMNTY IMPT A 4% 12/01/59</name>
        <lei>N/A</lei>
        <title>CSCDA CMNTY IMPT AUTH CA ESSEN REGD OID B/E 4.00000000</title>
        <cusip>126292CK5</cusip>
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          <isin value="US126292CK53"/>
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        <valUSD>1024968.49000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>NORTH CAROLINA 5.375% 10/01/45</name>
        <lei>549300FH6KOXGCHQYG81</lei>
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        <cusip>65820YLG9</cusip>
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        <name>LAKEWOOD RANCH 5.125% 05/01/46</name>
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        <name>PUBLIC FIN AUTH 6.25% 09/01/46</name>
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      <invstOrSec>
        <name>LOWNDES CNTY MS S V/R 04/01/37</name>
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      <invstOrSec>
        <name>JEFFERSON CNTY AL  5% 10/01/26</name>
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        <name>DIST OF COLUMBIA  ZCP 06/15/46</name>
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        <name>MIAMI-DADE CNTY FL 4% 10/01/48</name>
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        <name>NEW HOPE CULTURAL  5% 10/01/31</name>
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      <invstOrSec>
        <name>COBB CNTY GA KENNE 5% 04/01/47</name>
        <lei>549300TB04LETJYNFR44</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MARYLAND ST HLTH 5.5% 01/01/36</name>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <name>LAKES OF SARASO 5.25% 05/01/34</name>
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      <invstOrSec>
        <name>ROCKVILLE MD MAYOR 5% 11/01/47</name>
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        <name>ALACHUA CNTY F 6.375% 11/15/49</name>
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          <maturityDt>2049-11-15</maturityDt>
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      <invstOrSec>
        <name>BUCKEYE OH TOBACCO 4% 06/01/48</name>
        <lei>N/A</lei>
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        <cusip>118217CX4</cusip>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BRAZORIA CNTY TX  12% 06/01/43</name>
        <lei>N/A</lei>
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        <cusip>10604PAF0</cusip>
        <identifiers>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>425000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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      <invstOrSec>
        <name>CHICAGO IL ZCP 01/01/27</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
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        <cusip>167484QS6</cusip>
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        <balance>680000.00000000</balance>
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        <name>THOMPSON CROSSING  5% 12/01/49</name>
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        <name>NEW HOPE CULTURAL  5% 04/01/30</name>
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        <name>CHESTER CNTY PA  4.5% 10/01/49</name>
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        <name>SOUTHGLENN CO MET  5% 12/01/46</name>
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        <name>MISSOURI ST HLTH &amp; 5% 02/01/46</name>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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        <name>NEXUS NORTH AT DIA 5% 12/01/41</name>
        <lei>N/A</lei>
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        <valUSD>469474.65000000</valUSD>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DELAWARE ST ECON D 5% 09/01/36</name>
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        <cusip>246387RR7</cusip>
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          <couponKind>Fixed</couponKind>
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        <name>FARMVILLE VA INDL  5% 01/01/48</name>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK ST MTG 3.25% 10/01/51</name>
        <lei>N/A</lei>
        <title>NEW YORK ST MTGE AGY HOMEOWNER REGD B/E SONYMA 3.25000000</title>
        <cusip>64988YMZ7</cusip>
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        <balance>500000.00000000</balance>
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      <invstOrSec>
        <name>YAMHILL CNTY OR HO 5% 11/15/56</name>
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      <invstOrSec>
        <name>SALT LAKE CITY  5.25% 07/01/48</name>
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        <identifiers>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PHOENIX AZ INDL D V/R 12/01/35</name>
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        <cusip>71884RAA0</cusip>
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        <invCountry>US</invCountry>
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          <couponKind>Variable</couponKind>
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        <name>MARION CNTY OH HLT 5% 12/01/39</name>
        <lei>549300Y83A05IEINZY87</lei>
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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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      <invstOrSec>
        <name>GUAM INTERNATI 5.125% 10/01/34</name>
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        <curCd>USD</curCd>
        <valUSD>813885.62000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Bridge Builder Trust</ncom:nameOfApplicant>
      <ncom:signature>Aaron Masek</ncom:signature>
      <ncom:signerName>Aaron Masek</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
