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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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        <name>SAN MATEO CNTY CALIF TRAN DIST SALES TAX REV</name>
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        <name>BERKELEY CALIF</name>
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          <isin value="US084113B997"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-29</maturityDt>
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        <name>MONTEREY PENINSULA CALIF UNI SCH DIST</name>
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          <isin value="US612582EQ53"/>
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        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV VRDO IAM COML PAPER 3/A2 SER 2009 B2</name>
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          <isin value="US13079RDR75"/>
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        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV VRDO IAM COML PAPER 3/A2 SER 2009 A</name>
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      <invstOrSec>
        <name>ALAMEDA CORRIDOR TRANSN AUTH CALIF REV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR WTRWKS REV</name>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>TAMALPAIS CALIF UN HIGH SCH DIST</name>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR REV</name>
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        <invCountry>US</invCountry>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CNTY CALIF MET TRANSN AUTH SALES TAX REV</name>
        <lei>N/A</lei>
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          <isin value="US54466HFY71"/>
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        <balance>2500000.00000000</balance>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of California</name>
        <lei>N/A</lei>
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          <isin value="US13063DRZ32"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR REV</name>
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          <isin value="US5444954K70"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>WESTERN PLACER CALIF UNI SCH DIST</name>
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          <isin value="US959214HK65"/>
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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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        <name>UNIVERSITY CALIF REVS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EVERGREEN CALIF ELEM SCH DIST</name>
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        <name>SAN RAFAEL CALIF CITY HIGH SCH DIST</name>
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        <name>ORANGE CNTY CALIF SANTN WASTEWATER REV</name>
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        <name>GLENDALE CALIF UNI SCH DIST</name>
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        <name>LA MESA-SPRING VY CALIF SCH DIST</name>
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        <name>State of California</name>
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      <invstOrSec>
        <name>SANTA MONICA-MALIBU UNI SCH DIST CALIF</name>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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          <isin value="US13032UT402"/>
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        <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>
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          <isin value="US13032US255"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CALIF UNI SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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          <isin value="US13032UBR86"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-15</maturityDt>
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      <invstOrSec>
        <name>NAPA VY CALIF UNI SCH DIST</name>
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          <isin value="US630362DX61"/>
          <other otherDesc="Internal" value="BL2KX50"/>
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        <curCd>USD</curCd>
        <valUSD>1518428.93000000</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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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST UNIV REV</name>
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          <isin value="US13077C3S13"/>
          <other otherDesc="Internal" value="BYSZXN8"/>
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        <curCd>USD</curCd>
        <valUSD>1462453.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>REDWOOD CITY CALIF SCH DIST</name>
        <lei>N/A</lei>
        <title>REDWOOD CITY SCHOOL DISTRICT</title>
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          <isin value="US757889FG08"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>327375.06000000</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>2042-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MILL VALLEY CALIF SCH DIST</name>
        <lei>N/A</lei>
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        <balance>405000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>LOS ANGELES CALIF CMNTY COLLEGE DIST</name>
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          <isin value="US54438CXN72"/>
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        <name>LAKE CNTY CALIF PUB FING AUTH LEASE REV</name>
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          <isin value="US508210AS06"/>
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        <name>PASADENA CALIF AREA CMNTY COLLEGE DIST</name>
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        <name>SACRAMENTO CALIF MUN UTIL DIST ELEC REV</name>
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        <name>TRACY CALIF PUB FING AUTH LEASE REV</name>
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        <name>State of California</name>
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      <invstOrSec>
        <name>SANTA CLARA CNTY CALIF FING AUTH LEASE REV</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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        <name>FOOTHILL-DE ANZA CALIF CMNTY COLLEGE DIST</name>
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        <name>CHULA VISTA CALIF ELEM SCH DIST</name>
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        <name>EL DORADO CALIF IRR DIST CTFS PARTN</name>
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        <name>RIVERSIDE CALIF CMNTY COLLEGE DIST</name>
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        <name>SAN LUIS CALIF COASTAL UNI SCH DIST</name>
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        <name>SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST SALES TAX REV</name>
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        <name>UNIV CALIF REGTS MED CTR POOLED REV</name>
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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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        <name>GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV</name>
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        <name>ANAHEIM CALIF HSG &amp; PUB IMPT AUTH REV</name>
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        <name>METROPOLITAN WTR DIST SOUTHN CALIF WTRWRKS REV</name>
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        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV</name>
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        <name>PALOS VERDES PENINSULA CALIF UNI SCH DIST</name>
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        <name>RIVERSIDE CNTY CALIF</name>
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        <name>CALIFORNIA ST UNIV REV</name>
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        <name>CALIFORNIA ST UNIV REV</name>
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        <name>LOS ANGELES CALIF UNI SCH DIST</name>
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        <name>UNIV CALIF REGTS MED CTR POOLED REV</name>
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        <name>SAN DIEGO CALIF UNI SCH DIST</name>
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        <name>CALIFORNIA EDL FACS AUTH REV</name>
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        <name>CALIFORNIA ST DEPT WTR RES CENT VY PROJ REV</name>
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        <name>SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST SALES TAX REV</name>
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        <name>CALLEGUAS CALIF MUN WTR DIST WTR REV</name>
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        <name>STOCKTON CALIF UNI SCH DIST</name>
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        <name>SAN FRANCISCO CALIF CITY &amp; CNTY ARPTS COMMN INTL ARPT REV</name>
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        <name>OXNARD CALIF UN HIGH SCH DIST</name>
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          <isin value="US692039TW00"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CALIF UNI SCH DIST CTFS PARTN</name>
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          <isin value="US544648WK05"/>
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        <balance>395000.00000000</balance>
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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>SAN FRANCISCO CALIF CMNTY COLLEGE DIST</name>
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          <isin value="US797683GZ65"/>
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        <valUSD>751366.35000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GROSSMONT CALIF UN HIGH SCH DIST</name>
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          <isin value="US399262LB86"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>OAKLAND CALIF UNI SCH DIST ALAMEDA CNTY</name>
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          <isin value="US672325F368"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SAN FRANCISCO CALIF CITY &amp; CNTY PUB UTILS COMMN WASTEWATER REV</name>
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        <name>WHITTIER CALIF UN HIGH SCH DIST</name>
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        <name>SAN DIEGO CALIF UNI SCH DIST</name>
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        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR REV</name>
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        <name>State of California</name>
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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>2032-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STOCKTON CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>STOCKTON UNIFIED SCHOOL DISTRICT</title>
        <cusip>861419C98</cusip>
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          <isin value="US861419C987"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>385413.77000000</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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          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
        <cusip>13063DG93</cusip>
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          <isin value="US13063DG939"/>
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        <balance>610000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>638375.00000000</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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          <maturityDt>2027-10-01</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PALM SPRINGS CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>6966673U6</cusip>
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          <isin value="US6966673U61"/>
          <other otherDesc="Internal" value="BDT7CF1"/>
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        <curCd>USD</curCd>
        <valUSD>1136946.98000000</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>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PALM SPRINGS CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>6966676X7</cusip>
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          <isin value="US6966676X73"/>
          <other otherDesc="Internal" value="6966676X7"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1090892.70000000</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>2043-08-01</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>FOOTHILL-DE ANZA CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>FOOTHILL DE ANZA COMMUNITY COLLEGE DISTRICT</title>
        <cusip>345102PS0</cusip>
        <identifiers>
          <isin value="US345102PS07"/>
          <other otherDesc="Internal" value="345102PS0"/>
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        <balance>520000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>522170.90000000</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>2025-08-01</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>LOS ANGELES CALIF DEPT WTR &amp; PWR REV</name>
        <lei>N/A</lei>
        <title>LOS ANGELES DEPARTMENT OF WATER POWER</title>
        <cusip>5444953N2</cusip>
        <identifiers>
          <isin value="US5444953N29"/>
          <other otherDesc="Internal" value="BF45050"/>
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        <balance>3690000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3728584.49000000</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>2037-07-01</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>RIVERSIDE CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>RIVERSIDE COMMUNITY COLLEGE DISTRICT</title>
        <cusip>76886PKS1</cusip>
        <identifiers>
          <isin value="US76886PKS10"/>
          <other otherDesc="Internal" value="76886PKS1"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>393835.48000000</valUSD>
        <pctVal>0.098012381249</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</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>
      <invstOrSec>
        <name>IRVINE CALIF FACS FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>IRVINE FACILITIES FINANCING AUTHORITY</title>
        <cusip>46360XAD6</cusip>
        <identifiers>
          <isin value="US46360XAD66"/>
          <other otherDesc="Internal" value="46360XAD6"/>
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        <balance>665000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>672469.61000000</valUSD>
        <pctVal>0.167355028029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</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>State of California</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
        <cusip>13063DE95</cusip>
        <identifiers>
          <isin value="US13063DE959"/>
          <other otherDesc="Internal" value="13063DE95"/>
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        <balance>1075000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1078525.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Provincial" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
        <cusip>13063CVC1</cusip>
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          <isin value="US13063CVC18"/>
          <other otherDesc="Internal" value="BJ53LB4"/>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1604768.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Provincial" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MENIFEE CALIF UN SCH DIST</name>
        <lei>N/A</lei>
        <title>MENIFEE UNION SCHOOL DISTRICT</title>
        <cusip>586807KL2</cusip>
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          <isin value="US586807KL22"/>
          <other otherDesc="Internal" value="586807KL2"/>
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        <balance>480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>521435.62000000</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>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
        <cusip>13063CRR3</cusip>
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          <isin value="US13063CRR33"/>
          <other otherDesc="Internal" value="BHWWHQ7"/>
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        <balance>3035000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3036560.60000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CULVER CITY CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>CULVER CITY UNIFIED SCHOOL DISTRICT</title>
        <cusip>230345NC0</cusip>
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          <isin value="US230345NC08"/>
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        <balance>1080000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1034991.76000000</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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          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MONTEREY PENINSULA CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>MONTEREY PENINSULA COMMUNITY COLLEGE DISTRICT</title>
        <cusip>612574FQ1</cusip>
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          <isin value="US612574FQ11"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>487105.85000000</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>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LONG BEACH CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LONG BEACH UNIFIED SCHOOL DISTRICT</title>
        <cusip>542433UZ8</cusip>
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          <isin value="US542433UZ86"/>
          <other otherDesc="Internal" value="BJ290D0"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>484736.20000000</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>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHULA VISTA CALIF ELEM SCH DIST</name>
        <lei>N/A</lei>
        <title>CHULA VISTA ELEMENTARY SCHOOL DISTRICT</title>
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          <isin value="US171314KZ98"/>
          <other otherDesc="Internal" value="171314KZ9"/>
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        <balance>930000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>916797.26000000</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>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST</name>
        <lei>N/A</lei>
        <title>SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT</title>
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      <invstOrSec>
        <name>SOUTHERN CALIF WTR REPLENISHMENT DIST FING AUTH REPLENISHMENT ASSMT REV</name>
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        <name>FREMONT CALIF UN HIGH SCH DIST SANTA CLARA CNTY</name>
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        <name>SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST SALES TAX REV</name>
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        <name>SAN DIEGO CALIF PUB FACS FING AUTH SWR REV</name>
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        <name>SANTA CRUZ CNTY CALIF</name>
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        <name>State of California</name>
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        <name>SOUTHWESTERN CMNTY COLLEGE DIST CALIF</name>
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        <name>AMADOR WTR AGY CALIF CTFS PARTN</name>
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        <name>RIVERSIDE CNTY CALIF TEETER PLAN OBLIG NTS</name>
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        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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        <name>SAN FRANCISCO CALIF CITY &amp; CNTY UNI SCH DIST</name>
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        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR REV</name>
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        <name>ROWLAND CALIF UNI SCH DIST</name>
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      <invstOrSec>
        <name>GLENDALE CALIF UNI SCH DIST</name>
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      <invstOrSec>
        <name>COMPTON CALIF UNI SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNIV CALIF REGTS MED CTR POOLED REV</name>
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          <isin value="US913366KE95"/>
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        <valUSD>1040000.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-05-15</maturityDt>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF CITY &amp; CNTY CTFS PARTN</name>
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        <cusip>79765DX88</cusip>
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          <isin value="US79765DX885"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>UNIVERSITY CALIF REVS</name>
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          <isin value="US91412HRX34"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-05-15</maturityDt>
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      <invstOrSec>
        <name>LOS ANGELES CALIF UNI SCH DIST</name>
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          <isin value="US544647HA15"/>
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        <valUSD>479490.98000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2043-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of California</name>
        <lei>N/A</lei>
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        <cusip>13063DJ41</cusip>
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          <isin value="US13063DJ412"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2437622.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>State of California</name>
        <lei>N/A</lei>
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          <isin value="US13063C8R43"/>
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        <balance>615000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>639856.52000000</valUSD>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>REDLANDS CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US757606TF54"/>
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        <balance>100000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CONTRA COSTA CALIF TRANSN AUTH SALES TAX REV</name>
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          <isin value="US21221MFD74"/>
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        <invCountry>US</invCountry>

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        <name>SAN FRANCISCO CALIF CITY &amp; CNTY UNI SCH DIST</name>
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        <name>VENTURA CNTY CALIF CMNTY COLLEGE DIST</name>
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        <balance>3000000.00000000</balance>
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        <invCountry>US</invCountry>

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        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR WTRWKS REV</name>
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        <balance>1065000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BlackRock Liquidity Funds: MuniCash; Institutional Shares</name>
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        <name>SAN FRANCISCO CALIF CITY &amp; CNTY</name>
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        <name>LOS ANGELES CNTY CALIF PUB WKS FING AUTH LEASE REV</name>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>METROPOLITAN WTR DIST SOUTHN CALIF WTRWRKS REV</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US59266TSR31"/>
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        <curCd>USD</curCd>
        <valUSD>891562.39000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>SACRAMENTO CALIF MUN UTIL DIST ELEC REV</name>
        <lei>N/A</lei>
        <title>SACRAMENTO MUNICIPAL UTILITY DISTRICT</title>
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          <isin value="US786005H688"/>
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        <balance>390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>417449.49000000</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>2043-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LONG BEACH CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LONG BEACH UNIFIED SCHOOL DISTRICT</title>
        <cusip>542433UP0</cusip>
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          <isin value="US542433UP05"/>
          <other otherDesc="Internal" value="BHKFXV5"/>
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        <balance>1050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1075961.57000000</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>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>ALUM ROCK CALIF UN ELEM SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>022168SD1</cusip>
        <identifiers>
          <isin value="US022168SD15"/>
          <other otherDesc="Internal" value="022168SD1"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>320517.51000000</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>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MONTEREY PENINSULA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>MONTEREY PENINSULA CA UNIF SCH DIST</title>
        <cusip>612582ER3</cusip>
        <identifiers>
          <isin value="US612582ER37"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1027029.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY CALIF REVS</name>
        <lei>N/A</lei>
        <title>UNIVERSITY OF CALIFORNIA</title>
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        <identifiers>
          <isin value="US91412HRZ81"/>
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        <balance>1555000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1644061.69000000</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>2044-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>
      <invstOrSec>
        <name>GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV</name>
        <lei>N/A</lei>
        <title>GOLDEN STATE TOBACCO SECURITIZATION CORP</title>
        <cusip>38122NYG1</cusip>
        <identifiers>
          <isin value="US38122NYG14"/>
          <other otherDesc="Internal" value="38122NYG1"/>
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        <balance>755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>756095.20000000</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>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARIN CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>MARIN COMMUNITY COLLEGE DISTRICT</title>
        <cusip>56781REE3</cusip>
        <identifiers>
          <isin value="US56781REE36"/>
          <other otherDesc="Internal" value="BGSDP74"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1002028.10000000</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>2028-08-01</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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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CARLSBAD CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>CARLSBAD UNIFIED SCHOOL DISTRICT</title>
        <cusip>142665HR2</cusip>
        <identifiers>
          <isin value="US142665HR24"/>
          <other otherDesc="Internal" value="142665HR2"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1169915.52000000</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>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LANCASTER CALIF FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>LANCASTER FINANCING AUTHORITY</title>
        <cusip>51378QBK4</cusip>
        <identifiers>
          <isin value="US51378QBK40"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1055955.40000000</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>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF CITY &amp; CNTY PUB UTILS COMMN PWR REV</name>
        <lei>N/A</lei>
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          <isin value="US79771KBS42"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>SAN DIEGO CALIF UNI SCH DIST</name>
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          <isin value="US7973554R24"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of California</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
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          <isin value="US13063D4T27"/>
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        <balance>5925000.00000000</balance>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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        <title>CALIFORNIA STATE PUBLIC WORKS BOARD</title>
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          <isin value="US13068XAD12"/>
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        <valUSD>1294450.89000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>State of California</name>
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          <isin value="US13063C6F23"/>
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        <isRestrictedSec>N</isRestrictedSec>

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          <annualizedRt>5.00000000</annualizedRt>
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        <name>EL CAMINO CALIF CMNTY COLLEGE DIST</name>
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        <title>EL CAMINO COMMUNITY COLLEGE DISTRICT FOUNTATION TH</title>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LOS ANGELES UNIFIED SCHOOL DISTRICT CA</title>
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        <valUSD>168996.76000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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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>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA STATE PUBLIC WORKS BOARD</title>
        <cusip>13068LA62</cusip>
        <identifiers>
          <isin value="US13068LA629"/>
          <other otherDesc="Internal" value="BGKBD61"/>
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        <balance>1320000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1348535.36000000</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>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA STATE PUBLIC WORKS BOARD</title>
        <cusip>13068XMV8</cusip>
        <identifiers>
          <isin value="US13068XMV81"/>
          <other otherDesc="Internal" value="13068XMV8"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1550872.12000000</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>2037-11-01</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>LA MESA-SPRING VY CALIF SCH DIST</name>
        <lei>N/A</lei>
        <title>LA MESA SPRING VALLEY SCHOOL DISTRICT</title>
        <cusip>503678RU0</cusip>
        <identifiers>
          <isin value="US503678RU09"/>
          <other otherDesc="Internal" value="503678RU0"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100447.74000000</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>2025-08-01</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>CARLSBAD CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>CARLSBAD UNIFIED SCHOOL DISTRICT</title>
        <cusip>142665EG9</cusip>
        <identifiers>
          <isin value="US142665EG95"/>
          <other otherDesc="Internal" value="BJF9S77"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41141.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIV CALIF REGTS MED CTR POOLED REV</name>
        <lei>N/A</lei>
        <title>REGENTS OF THE UNIVERSITY OF CALIFORNIA MEDICAL CE</title>
        <cusip>913366KA7</cusip>
        <identifiers>
          <isin value="US913366KA73"/>
          <other otherDesc="Internal" value="BLLJZV8"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>600000.00000000</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>2045-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CAMPBELL CALIF UN HIGH SCH DIST</name>
        <lei>N/A</lei>
        <title>CAMPBELL UNION HIGH SCHOOL DISTRICT</title>
        <cusip>134159WV0</cusip>
        <identifiers>
          <isin value="US134159WV03"/>
          <other otherDesc="Internal" value="BHXKL80"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>498380.30000000</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>2037-08-01</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>
      <invstOrSec>
        <name>STOCKTON CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>STOCKTON UNIFIED SCHOOL DISTRICT</title>
        <cusip>861419WG0</cusip>
        <identifiers>
          <isin value="US861419WG06"/>
          <other otherDesc="Internal" value="BJBJGW2"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45677.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</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>MT DIABLO CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>MOUNT DIABLO UNIFIED SCHOOL DISTRICT CA</title>
        <cusip>621196M92</cusip>
        <identifiers>
          <isin value="US621196M924"/>
          <other otherDesc="Internal" value="621196M92"/>
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        <balance>1140000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1184927.63000000</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>2028-08-01</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>
      <invstOrSec>
        <name>SAN FRANCISCO CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>SAN FRANCISCO COMMUNITY COLLEGE DISTRICT</title>
        <cusip>797683KH1</cusip>
        <identifiers>
          <isin value="US797683KH12"/>
          <other otherDesc="Internal" value="797683KH1"/>
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        <balance>1025000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1081115.68000000</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>2044-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
        <cusip>13063DU97</cusip>
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          <isin value="US13063DU971"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3894637.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Provincial" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LOS ANGELES CNTY CALIF</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CNTY CA</title>
        <cusip>544657JB6</cusip>
        <identifiers>
          <isin value="US544657JB68"/>
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        <balance>3015000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3021226.28000000</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>2025-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STOCKTON CALIF UNI SCH DIST CTFS PARTN</name>
        <lei>N/A</lei>
        <title>STOCKTON UNIFIED SCHOOL DISTRICT</title>
        <cusip>861422FD0</cusip>
        <identifiers>
          <isin value="US861422FD05"/>
          <other otherDesc="Internal" value="BJCTK85"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>311944.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA STATE PUBLIC WORKS BOARD</title>
        <cusip>13068XMG1</cusip>
        <identifiers>
          <isin value="US13068XMG15"/>
          <other otherDesc="Internal" value="13068XMG1"/>
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        <balance>515000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>563164.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MORENO VALLEY CALIF PUB FIN AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>MORENO VALLEY PUBLIC FINANCING AUTHORITY</title>
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          <isin value="US61685PEY07"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>118564.99000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MOUNT SAN ANTONIO CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
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          <isin value="US623040PX47"/>
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        <balance>535000.00000000</balance>
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        <valUSD>516097.75000000</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>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>SACRAMENTO CALIF CITY UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>SACRAMENTO CITY UNIFIED SCHOOL DISTRICT CA</title>
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          <isin value="US785870C539"/>
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        <balance>580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>587913.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHULA VISTA CALIF ELEM SCH DIST</name>
        <lei>N/A</lei>
        <title>CHULA VISTA ELEMENTARY SCHOOL DISTRICT</title>
        <cusip>171314KV8</cusip>
        <identifiers>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF CITY &amp; CNTY UNI SCH DIST</name>
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      <invstOrSec>
        <name>GLENDALE CALIF UNI SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CERRITOS CALIF CMNTY COLLEGE DIST</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CALIF MUN IMPT CORP LEASE REV</name>
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          <isin value="US544587H431"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>SAN FRANCISCO CALIF CMNTY COLLEGE DIST</name>
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          <isin value="US797683GK96"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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          <isin value="US13068XJW02"/>
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        <balance>750000.00000000</balance>
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        <valUSD>804050.93000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STOCKTON CALIF PUB FING AUTH WASTEWATER REV</name>
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          <isin value="US86139QAT22"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CALIFORNIA PUB FIN AUTH REV</name>
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        <name>SOUTH TAHOE CALIF JT PWRS FING AUTH LEASE REV</name>
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        <name>GOLETA CALIF UN SCH DIST</name>
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        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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        <name>SAN FRANCISCO CALIF CITY &amp; CNTY PUB UTILS COMMN WASTEWATER REV</name>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTH TAHOE CALIF JT PWRS FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>SOUTH TAHOE JOINT POWERS FINANCING AUTHORITY</title>
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          <isin value="US84049MBT45"/>
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        <curCd>USD</curCd>
        <valUSD>258594.84000000</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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      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
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          <isin value="US13063C5W64"/>
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        <curCd>USD</curCd>
        <valUSD>3380684.34000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LOS ANGELES UNIFIED SCHOOL DISTRICT</title>
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        <identifiers>
          <isin value="US544647JH40"/>
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        <balance>4420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4737029.80000000</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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          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTA CLARA CNTY CALIF FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>SANTA CLARA COUNTY FINANCING AUTHORITY</title>
        <cusip>801577MB0</cusip>
        <identifiers>
          <isin value="US801577MB07"/>
          <other otherDesc="Internal" value="801577MB0"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>423957.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RIVERSIDE CALIF ELEC REV</name>
        <lei>N/A</lei>
        <title>CITY OF RIVERSIDE CA ELECTRIC REVENUE</title>
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        <identifiers>
          <isin value="US768874WN51"/>
          <other otherDesc="Internal" value="768874WN5"/>
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        <balance>1275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1373833.92000000</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>2043-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>544647HG8</cusip>
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          <isin value="US544647HG84"/>
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        <balance>405000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>406095.24000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</title>
        <cusip>9523476W7</cusip>
        <identifiers>
          <isin value="US9523476W72"/>
          <other otherDesc="Internal" value="9523476W7"/>
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        <balance>1930000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2162574.07000000</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>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SANTA CLARA CALIF ELEC  PWR SUPPLY RES</name>
        <lei>N/A</lei>
        <title>CITY OF SANTA CLARA CA ELECTRIC REVENUE</title>
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        <identifiers>
          <isin value="US801444HZ64"/>
          <other otherDesc="Internal" value="801444HZ6"/>
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        <balance>935000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1008298.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
        <cusip>13063DCG1</cusip>
        <identifiers>
          <isin value="US13063DCG16"/>
          <other otherDesc="Internal" value="BJ1VZV0"/>
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        <balance>1615000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1615363.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Provincial" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF CITY &amp; CNTY PUB UTILS COMMN WTR REV</name>
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        <title>CITY OF SAN FRANCISCO CA PUBLIC UTILITIES COMMISSI</title>
        <cusip>79765RH51</cusip>
        <identifiers>
          <isin value="US79765RH516"/>
          <other otherDesc="Internal" value="BJ60KY0"/>
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        <balance>1745000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1795583.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF CITY &amp; CNTY CTFS PARTN</name>
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          <isin value="US79765GAS21"/>
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        <valUSD>2436125.00000000</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>2041-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>SAN MATEO CNTY CALIF TRAN DIST SALES TAX REV</name>
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          <isin value="US799054HM66"/>
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        <valUSD>2100880.32000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CALIF</name>
        <lei>N/A</lei>
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          <isin value="US544351SE06"/>
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        <balance>4040000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4047484.10000000</valUSD>
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        <name>LOS ANGELES CALIF MUN IMPT CORP LEASE REV</name>
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        <invCountry>US</invCountry>

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        <name>PITTSBURG CALIF UNI SCH DIST</name>
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        <name>UNIVERSITY CALIF REVS</name>
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        <invCountry>US</invCountry>

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        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR REV</name>
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        <assetCat>DBT</assetCat>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN DIEGO CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
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          <isin value="US797272TB73"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>PASADENA CALIF UNI SCH DIST</name>
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          <isin value="US702282RC07"/>
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        <valUSD>1078381.40000000</valUSD>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>OAKLAND CALIF UNI SCH DIST ALAMEDA CNTY</name>
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          <isin value="US672325H349"/>
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        <balance>340000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
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          <isin value="US13063CE308"/>
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        <curCd>USD</curCd>
        <valUSD>1013126.50000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOS ANGELES CNTY CALIF MET TRANSN AUTH SALES TAX REV</name>
        <lei>N/A</lei>
        <title>LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUT</title>
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        <identifiers>
          <isin value="US54466HHL33"/>
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        <balance>2655000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR WTRWKS REV</name>
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        <cusip>544525V39</cusip>
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          <isin value="US544525V390"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2030315.20000000</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>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LONG BEACH CALIF UNI SCH DIST</name>
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        <title>LONG BEACH UNIFIED SCHOOL DISTRICT</title>
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          <isin value="US542433UN56"/>
          <other otherDesc="Internal" value="BHKFXY8"/>
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        <balance>1140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1169036.14000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>SAN DIEGO CALIF UNI SCH DIST</name>
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          <isin value="US797356PV80"/>
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        <balance>560000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>601552.22000000</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>2043-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
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        <cusip>13063DQ68</cusip>
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          <isin value="US13063DQ680"/>
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        <balance>1990000.00000000</balance>
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        <valUSD>2107251.80000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CALIFORNIA ST</name>
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          <isin value="US13063EKK19"/>
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        <balance>20000.00000000</balance>
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        <valUSD>20861.86000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ANAHEIM CALIF HSG &amp; PUB IMPT AUTH REV</name>
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          <isin value="US032556NM00"/>
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        <balance>150000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>SOUTHWESTERN CMNTY COLLEGE DIST CALIF</name>
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          <isin value="US845389FP54"/>
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          <maturityDt>2044-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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          <isin value="US13032US412"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-12-01</maturityDt>
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        <name>SAN MATEO CALIF UN HIGH SCH DIST</name>
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          <isin value="US799017SB54"/>
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        <name>State of California</name>
        <lei>N/A</lei>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST SALES TAX REV</name>
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          <isin value="US797669ZC59"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR WTRWKS REV</name>
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        <title>LOS ANGELES DEPARTMENT OF WATER POWER WATER SYST</title>
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          <isin value="US544525Q275"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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          <isin value="US13068LYX71"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MENIFEE CALIF UN SCH DIST</name>
        <lei>N/A</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>GOLETA CALIF UN SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US381623JB41"/>
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        <valUSD>298493.42000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EL DORADO CALIF IRR DIST CTFS PARTN</name>
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          <isin value="US283059GJ62"/>
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        <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>
        <name>PERALTA CALIF CMNTY COLLEGE DIST</name>
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          <isin value="US713575WK03"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13033L8D27"/>
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        <valUSD>1507083.15000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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          <isin value="US13032UKB34"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-15</maturityDt>
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      <invstOrSec>
        <name>ARCADIA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US039069HJ16"/>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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          <annualizedRt>4.00000000</annualizedRt>
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        <name>SACRAMENTO CALIF TRANSN AUTH SALES TAX REV</name>
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        <name>SAN YSIDRO CALIF SCH DIST</name>
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        <name>State of California</name>
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        <name>CAMPBELL CALIF UN SCH DIST</name>
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        <name>GARDEN GROVE CALIF PUB FING AUTH LEASE REV</name>
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        <name>LOS ANGELES CALIF CMNTY COLLEGE DIST</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BAY AREA TOLL AUTH CALIF TOLL BRDG REV</name>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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      <invstOrSec>
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          <isin value="US13063CUV08"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CHULA VISTA CALIF MUN FING AUTH LEASE REV</name>
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        <name>SOUTH SAN FRANCISCO CALIF UNI SCH DIST</name>
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        <invCountry>US</invCountry>

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          <annualizedRt>4.00000000</annualizedRt>
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        <name>CARLSBAD CALIF UNI SCH DIST</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SAN DIEGO CALIF UNI SCH DIST</name>
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        <name>CALIFORNIA ST</name>
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        <name>WEST VY MISSION CMNTY COLLEGE DIST CALIF</name>
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        <name>COMPTON CALIF UNI SCH DIST</name>
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        <name>DESERT SANDS CALIF UNI SCH DIST</name>
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        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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        <name>SAN FRANCISCO CALIF CITY &amp; CNTY PUB UTILS COMMN WASTEWATER REV</name>
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        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR WTRWKS REV</name>
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        <name>State of California</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>SAN MATEO CNTY CALIF JT PWRS FING AUTH LEASE REV</name>
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        <name>CHABOT-LAS POSITAS CALIF CMNTY COLLEGE DIST</name>
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        <name>MENIFEE CALIF UN SCH DIST</name>
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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF CITY &amp; CNTY PUB UTILS COMMN WTR REV</name>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST SALES TAX REV</name>
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        <name>SANTA BARBARA CALIF FIN AUTH LEASE REV</name>
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          <isin value="US801260AQ30"/>
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        <name>State of California</name>
        <lei>N/A</lei>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>UNIVERSITY CALIF REVS</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>EAST SIDE UN HIGH SCH DIST CALIF SANTA CLARA CNTY</name>
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          <isin value="US275282TB78"/>
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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>SAN FRANCISCO CALIF CITY &amp; CNTY PUB UTILS COMMN WASTEWATER REV</name>
        <lei>N/A</lei>
        <title>SAN FRANCISCO CITY COUNTY PUBLIC UTILITIES COMMI</title>
        <cusip>79768HHN1</cusip>
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          <isin value="US79768HHN17"/>
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        <valUSD>1425471.17000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>LOS ANGELES CALIF CMNTY COLLEGE DIST</name>
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          <isin value="US54438CZR68"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>LAKE CNTY CALIF PUB FING AUTH LEASE REV</name>
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          <isin value="US508210AT88"/>
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        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR REV</name>
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        <name>SAN FRANCISCO CALIF CITY &amp; CNTY ARPTS COMMN INTL ARPT REV</name>
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          <isin value="US79766DXC81"/>
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        <lei>N/A</lei>
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        <name>CALIFORNIA PUB FIN AUTH REV</name>
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        <name>IMPERIAL CALIF IRR DIST ELEC REV</name>
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        <name>IMPERIAL CALIF CMNTY COLLEGE DIST</name>
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        <invCountry>US</invCountry>

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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAN DIEGO CNTY CALIF REGL TRANSN COMMN SALES TAX REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CNTY CA REGL TRANSPRTN COMMISSION SALES</title>
        <cusip>797400PW2</cusip>
        <identifiers>
          <isin value="US797400PW28"/>
          <other otherDesc="Internal" value="797400PW2"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>815353.58000000</valUSD>
        <pctVal>0.202914033891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST</name>
        <lei>N/A</lei>
        <title>SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT</title>
        <cusip>797661XZ3</cusip>
        <identifiers>
          <isin value="US797661XZ37"/>
          <other otherDesc="Internal" value="BJMSB90"/>
        </identifiers>
        <balance>340000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>344483.75000000</valUSD>
        <pctVal>0.085730398488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA STATE PUBLIC WORKS BOARD</title>
        <cusip>13068XCG2</cusip>
        <identifiers>
          <isin value="US13068XCG25"/>
          <other otherDesc="Internal" value="13068XCG2"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>326163.60000000</valUSD>
        <pctVal>0.081171130424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PASADENA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>PASADENA UNIFIED SCHOOL DISTRICT</title>
        <cusip>702282RB2</cusip>
        <identifiers>
          <isin value="US702282RB24"/>
          <other otherDesc="Internal" value="702282RB2"/>
        </identifiers>
        <balance>665000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>667943.96000000</valUSD>
        <pctVal>0.166228746229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHULA VISTA CALIF ELEM SCH DIST SCH FACS IMPT DIST NO 1</name>
        <lei>N/A</lei>
        <title>CHULA VISTA ELEMENTARY SCHOOL DISTRICT SCHOOL FACI</title>
        <cusip>17132CCY2</cusip>
        <identifiers>
          <isin value="US17132CCY21"/>
          <other otherDesc="Internal" value="17132CCY2"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>803481.04000000</valUSD>
        <pctVal>0.199959358713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
        <cusip>13063EBL9</cusip>
        <identifiers>
          <isin value="US13063EBL92"/>
          <other otherDesc="Internal" value="13063EBL9"/>
        </identifiers>
        <balance>2850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3046306.86000000</valUSD>
        <pctVal>0.758123136509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST UNIV REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA STATE UNIVERSITY</title>
        <cusip>13077C3N2</cusip>
        <identifiers>
          <isin value="US13077C3N26"/>
          <other otherDesc="Internal" value="BYSZXJ4"/>
        </identifiers>
        <balance>645000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>655162.81000000</valUSD>
        <pctVal>0.163047948636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STOCKTON CALIF UNI SCH DIST CTFS PARTN</name>
        <lei>N/A</lei>
        <title>STOCKTON UNIFIED SCHOOL DISTRICT</title>
        <cusip>861422FB4</cusip>
        <identifiers>
          <isin value="US861422FB49"/>
          <other otherDesc="Internal" value="BJCTK96"/>
        </identifiers>
        <balance>1210000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1263781.11000000</valUSD>
        <pctVal>0.314512536985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063CD72</cusip>
        <identifiers>
          <isin value="US13063CD722"/>
          <other otherDesc="Internal" value="BJSYP56"/>
        </identifiers>
        <balance>1305000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1311628.62000000</valUSD>
        <pctVal>0.326420170071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Provincial" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
        <cusip>13062PBK7</cusip>
        <identifiers>
          <isin value="US13062PBK75"/>
          <other otherDesc="Internal" value="BGBTLY8"/>
        </identifiers>
        <balance>185000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>191274.00000000</valUSD>
        <pctVal>0.047601653896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Provincial" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OAKLAND CALIF UNI SCH DIST ALAMEDA CNTY</name>
        <lei>N/A</lei>
        <title>OAKLAND UNIFIED SCHOOL DISTRICT ALAMEDA COUNTY</title>
        <cusip>672325H83</cusip>
        <identifiers>
          <isin value="US672325H836"/>
          <other otherDesc="Internal" value="672325H83"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1478140.20000000</valUSD>
        <pctVal>0.367859291963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLETA CALIF UN SCH DIST</name>
        <lei>N/A</lei>
        <title>GOLETA UNION SCHOOL DISTRICT</title>
        <cusip>381623HZ3</cusip>
        <identifiers>
          <isin value="US381623HZ37"/>
          <other otherDesc="Internal" value="381623HZ3"/>
        </identifiers>
        <balance>160000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>175562.99000000</valUSD>
        <pctVal>0.043691712867</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SANTA CRUZ CALIF CITY ELEM SCH DIST</name>
        <lei>N/A</lei>
        <title>SANTA CRUZ CITY ELEMENTARY SCHOOL DISTRICT</title>
        <cusip>801716KT7</cusip>
        <identifiers>
          <isin value="US801716KT76"/>
          <other otherDesc="Internal" value="801716KT7"/>
        </identifiers>
        <balance>1290000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1244422.62000000</valUSD>
        <pctVal>0.309694861080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
        <cusip>13063DQ76</cusip>
        <identifiers>
          <isin value="US13063DQ763"/>
          <other otherDesc="Internal" value="13063DQ76"/>
        </identifiers>
        <balance>1660000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1688045.37000000</valUSD>
        <pctVal>0.420097616322</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Provincial" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly total returns reported under item B.5.a do not include any sales or redemption charges, as applicable." noteItem="B.5.a"/>
      <explntrNote note="For purposes of Item C.6 identifying restricted securities, a security that is subject to Rule 144A under the Securities Act of 1933, as amended, is identified as a restricted security only if the fund cannot sell the security to qualified institutional buyers at the report date due to the restrictions under Rule 144A." noteItem="C.6"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Dimensional ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Randy Olson</ncom:signature>
      <ncom:signerName>Randy Olson</ncom:signerName>
      <ncom:title>Chief Compliance Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
