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        <name>Alaska Railroad Corp.</name>
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        <name>Ave Maria Stewardship Community District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Babcock Ranch Community Independent Special District</name>
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          <isin value="US05616KBV17"/>
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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>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Baldwin County Industrial Development Authority</name>
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          <isin value="US05786PAA12"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US05786PAB94"/>
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        <name>City of Baltimore MD</name>
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        <name>City of Baltimore MD</name>
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        <name>Bartlett Industrial Development Board</name>
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        <name>Bayonne Redevelopment Agency</name>
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        <invCountry>US</invCountry>
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        <name>Bellalago Educational Facilities Benefit District</name>
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          <isin value="US078302AS58"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>Brook View Infrastructure Financing District</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>Buffalo &amp; Erie County Industrial Land Development Corp.</name>
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        <name>Build NYC Resource Corp.</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Capital Trust Agency, Inc.</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Capital Trust Agency, Inc.</name>
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      <invstOrSec>
        <name>Capital Trust Agency, Inc.</name>
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      <invstOrSec>
        <name>Capital Trust Authority</name>
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          <isin value="US14054UAB52"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Capital Trust Authority</name>
        <lei>N/A</lei>
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          <isin value="US14054UAC36"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Capital Trust Authority</name>
        <lei>N/A</lei>
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          <isin value="US14054UAG40"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Capital Trust Authority</name>
        <lei>N/A</lei>
        <title>Capital Trust Authority, Series 2024</title>
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          <isin value="US14054UAH23"/>
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        <curCd>USD</curCd>
        <valUSD>4979681.63000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Capital Trust Authority</name>
        <lei>N/A</lei>
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          <isin value="US14054WAP05"/>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>Capital Trust Authority</name>
        <lei>N/A</lei>
        <title>Capital Trust Authority, Series 2024 A</title>
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          <isin value="US14054WAQ87"/>
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        <balance>655000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <name>Capital Trust Authority</name>
        <lei>N/A</lei>
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          <isin value="US14054WAR60"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Capital Trust Authority</name>
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          <isin value="US14054WBP95"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Capital Trust Authority</name>
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          <isin value="US14054WBQ78"/>
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        <name>Capital Trust Authority</name>
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          <isin value="US14054WBR51"/>
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        <name>Capital Trust Authority</name>
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          <isin value="US14054WBW47"/>
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        <name>Capital Trust Authority</name>
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          <isin value="US14054WBX20"/>
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      <invstOrSec>
        <name>Capital Trust Authority</name>
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          <isin value="US14054WCK99"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2065-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Cedar Port Navigation &amp; Improvement District</name>
        <lei>N/A</lei>
        <title>Cedar Port Navigation &amp; Improvement District, Series 2023</title>
        <cusip>15051PAZ3</cusip>
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          <isin value="US15051PAZ36"/>
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        <balance>4380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4235936.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Cedar Port Navigation &amp; Improvement District</name>
        <lei>N/A</lei>
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        <cusip>15051PBD1</cusip>
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          <isin value="US15051PBD15"/>
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        <balance>1765000.00000000</balance>
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        <name>Central Plains Energy Project</name>
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        <name>Central Valley Energy Authority</name>
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        <name>Charles City County Economic Development Authority</name>
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        <name>Charleston Housing Authority/SC</name>
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        <name>Children's Trust Fund</name>
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        <name>Cobb-Marietta Coliseum &amp; Exhibit Hall Authority</name>
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        <name>College of the Sequoias Tulare Area Improvement District No. 3</name>
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        <name>Colorado Educational &amp; Cultural Facilities Authority</name>
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      <invstOrSec>
        <name>Denver City &amp; County Housing Authority</name>
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          <isin value="US24917QBP81"/>
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      <invstOrSec>
        <name>City &amp; County of Denver CO Airport System Revenue</name>
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      <invstOrSec>
        <name>Denver Convention Center Hotel Authority</name>
        <lei>N/A</lei>
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          <isin value="US249189DS76"/>
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        <name>Denver Health &amp; Hospital Authority</name>
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          <isin value="US24918EDA55"/>
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        <name>District of Columbia</name>
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        <name>District of Columbia</name>
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        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
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        <name>Duluth Independent School District No. 709</name>
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        <name>EP Cimarron Ventanas PFC</name>
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        <name>EP La Privada PFC</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>FHLMC Multifamily ML Certificates</name>
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        <name>FHLMC Multifamily ML Certificates</name>
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        <name>FHLMC Multifamily ML Certificates</name>
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        <name>Fulton County Residential Care Facilities for the Elderly Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fulton County Industrial Development Authority</name>
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        <name>Fulton County Industrial Development Authority</name>
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        <name>Fulton County Industrial Development Authority</name>
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      <invstOrSec>
        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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          <maturityDt>2037-08-01</maturityDt>
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        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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        <name>Gary Chicago International Airport Authority</name>
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        <name>Genesee County Funding Corp. (The)</name>
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        <name>Genesee County Funding Corp. (The)</name>
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      <invstOrSec>
        <name>George L Smith II Congress Center Authority</name>
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        <name>George L Smith II Congress Center Authority</name>
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      <invstOrSec>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Gulf Coast Industrial Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US40220MAD39"/>
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          <couponKind>Fixed</couponKind>
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          <isin value="US402682DG02"/>
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        <name>Halifax Hospital Medical Center</name>
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        <name>County of Hamilton OH</name>
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        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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        <name>Hastings Campus Housing Finance Authority</name>
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          <maturityDt>2031-11-15</maturityDt>
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          <annualizedRt>3.39000000</annualizedRt>
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        <name>Indiana Finance Authority</name>
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        <name>Indiana Finance Authority</name>
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        <name>Indiana Finance Authority</name>
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          <maturityDt>2050-05-01</maturityDt>
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          <maturityDt>2054-05-01</maturityDt>
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        <name>Indiana Finance Authority</name>
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        <name>Indianapolis Local Public Improvement Bond Bank</name>
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        <name>Iowa Finance Authority</name>
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        <name>Iowa Finance Authority</name>
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        <name>Iowa Finance Authority</name>
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        <name>Iowa Finance Authority</name>
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        <name>Lauderdale County Agriculture Center Authority</name>
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          <isin value="US518481CG90"/>
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        <name>Lauderdale County Agriculture Center Authority</name>
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          <isin value="US518481CH73"/>
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        <name>City of Lavon TX</name>
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        <name>Lee County Industrial Development Authority/FL</name>
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        <name>Lee County Industrial Development Authority/FL</name>
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          <isin value="US59465PFN33"/>
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      <invstOrSec>
        <name>Michigan State Grand Rapids Expressway</name>
        <lei>N/A</lei>
        <title>Michigan State Grand Rapids Expressway</title>
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          <isin value="US594ESCAA38"/>
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        <valUSD>200700.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Michigan State Grand Rapids Expressway</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Mida Mountain Village Public Infrastructure District</name>
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          <isin value="US59561UAG58"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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          <isin value="US59561UAH32"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-06-01</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>City of Middleburg Heights OH</name>
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          <isin value="US596126CX88"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>City of Middleburg Heights OH</name>
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          <isin value="US596126DQ29"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Middleton Community Development District A</name>
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          <isin value="US596681AJ51"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-01</maturityDt>
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          <annualizedRt>4.55000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.75000000</annualizedRt>
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        <name>Midtown Miami Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Pollution Control Financing Authority</name>
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          <maturityDt>2039-12-01</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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        <name>Minneapolis-St Paul Metropolitan Airports Commission</name>
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        <name>Minnesota Health &amp; Education Facilities Authority</name>
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        <name>Mirabelle Metropolitan District No. 2</name>
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        <name>Mirabelle Metropolitan District No. 2</name>
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        <invCountry>US</invCountry>
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          <isin value="US605360SV94"/>
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        <name>Missouri Development Finance Board</name>
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        <name>New Hampshire Business Finance Authority</name>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
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          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
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        <cusip>650116HX7</cusip>
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          <isin value="US650116HX72"/>
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        <balance>2550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1673598.92000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-12-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Newfield Community Development District</name>
        <lei>N/A</lei>
        <title>Newfield Community Development District, Series 2025</title>
        <cusip>65128AAC1</cusip>
        <identifiers>
          <isin value="US65128AAC18"/>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1858210.92000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Newfield Community Development District</name>
        <lei>N/A</lei>
        <title>Newfield Community Development District, Series 2025</title>
        <cusip>65128AAD9</cusip>
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          <isin value="US65128AAD90"/>
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        <balance>2455000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2495316.50000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Niagara Area Development Corp.</name>
        <lei>N/A</lei>
        <title>Niagara Area Development Corp.</title>
        <cusip>653541BJ0</cusip>
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          <isin value="US653541BJ00"/>
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        <balance>2460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2216842.78000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Niagara Area Development Corp.</name>
        <lei>N/A</lei>
        <title>Niagara Area Development Corp.</title>
        <cusip>653541BK7</cusip>
        <identifiers>
          <isin value="US653541BK72"/>
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        <balance>4115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3442172.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Niagara Area Development Corp.</name>
        <lei>N/A</lei>
        <title>Niagara Area Development Corp.</title>
        <cusip>653542AC4</cusip>
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          <isin value="US653542AC49"/>
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        <balance>6865000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6132626.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>
        <name>Norman Regional Hospital Authority</name>
        <lei>N/A</lei>
        <title>Norman Regional Hospital Authority</title>
        <cusip>656178EJ5</cusip>
        <identifiers>
          <isin value="US656178EJ59"/>
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        <balance>3830000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2998609.64000000</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>2045-09-01</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>
        <name>Norman Regional Hospital Authority</name>
        <lei>N/A</lei>
        <title>Norman Regional Hospital Authority, Series 2019</title>
        <cusip>656178EK2</cusip>
        <identifiers>
          <isin value="US656178EK23"/>
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        <balance>2790000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1907764.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</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>North Carolina Housing Finance Agency</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
        <title>North Carolina Housing Finance Agency, Series 55-A</title>
        <cusip>65820BBA3</cusip>
        <identifiers>
          <isin value="US65820BBA35"/>
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        <balance>2440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2662020.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65820YLY0</cusip>
        <identifiers>
          <isin value="US65820YLY04"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1505716.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65820YMB9</cusip>
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          <isin value="US65820YMB91"/>
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        <balance>670000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>672134.08000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65820YMR4</cusip>
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          <isin value="US65820YMR44"/>
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        <balance>2700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2705792.58000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65820YQW9</cusip>
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          <isin value="US65820YQW92"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65820YRL2</cusip>
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          <isin value="US65820YRL29"/>
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        <balance>1540000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1558201.41000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65820YRN8</cusip>
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          <isin value="US65820YRN84"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-07-01</maturityDt>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
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          <isin value="US65820YRQ16"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
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          <isin value="US65820YRR98"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>969917.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65820YSS6</cusip>
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          <isin value="US65820YSS62"/>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Northern Tobacco Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Northern Tobacco Securitization Corp.</title>
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          <isin value="US66585VCB99"/>
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        <curCd>USD</curCd>
        <valUSD>6937218.97000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Norwalk Housing Authority</name>
        <lei>N/A</lei>
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          <isin value="US668866AA47"/>
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        <curCd>USD</curCd>
        <valUSD>1825751.93000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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      <invstOrSec>
        <name>Norwalk City School District</name>
        <lei>N/A</lei>
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          <isin value="US669147FM70"/>
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        <curCd>USD</curCd>
        <valUSD>1349709.37000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oak Hills Local School District</name>
        <lei>N/A</lei>
        <title>Oak Hills Local School District, Series 2026</title>
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          <isin value="US671392HZ48"/>
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        <balance>1845000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1920878.39000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Oak Hills Local School District</name>
        <lei>N/A</lei>
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          <isin value="US671392JA78"/>
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        <balance>3920000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4091790.86000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Oceanside Unified School District/CA</name>
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        <title>Oceanside Unified School District</title>
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          <isin value="US675383RN59"/>
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        <curCd>USD</curCd>
        <valUSD>197912.70000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oceanside Unified School District/CA</name>
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          <isin value="US675383UR27"/>
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        <curCd>USD</curCd>
        <valUSD>207867.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Oceanside Unified School District/CA</name>
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          <isin value="US675383US00"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Oceanside Unified School District/CA</name>
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        <title>Oceanside Unified School District</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>0.00000000</annualizedRt>
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        <name>Oceanside Unified School District/CA</name>
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        <name>Oceanside Unified School District/CA</name>
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        <name>Oceanside Unified School District/CA</name>
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      <invstOrSec>
        <name>Ohio Housing Finance Agency</name>
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        <name>County of Ohio WV</name>
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      <invstOrSec>
        <name>Ohio Air Quality Development Authority</name>
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        <name>Ohio Air Quality Development Authority</name>
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      <invstOrSec>
        <name>Ohio Air Quality Development Authority</name>
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          <maturityDt>2027-12-01</maturityDt>
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      <invstOrSec>
        <name>State of Ohio</name>
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          <maturityDt>2056-03-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>Oklahoma Development Finance Authority</name>
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          <maturityDt>2042-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Omaha Airport Authority</name>
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          <isin value="US681725NL76"/>
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          <maturityDt>2054-12-15</maturityDt>
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        <name>Orange County Health Facilities Authority</name>
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          <isin value="US68450LGN91"/>
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        <name>Oregon State Facilities Authority</name>
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        <name>Oregon State Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Overland Park KS Sales Tax Revenue</name>
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      <invstOrSec>
        <name>Palm Beach County Health Facilities Authority</name>
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        <name>Palm Beach County Health Facilities Authority</name>
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        <name>Palm Beach County Health Facilities Authority</name>
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        <name>Palm Beach County Health Facilities Authority</name>
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        <name>Panorama Public Infrastructure District No. 1</name>
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      <invstOrSec>
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        <name>Poplar Bluff Regional Transportation Development District Sales Tax Revenue</name>
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        <name>Port of Greater Cincinnati Development Authority</name>
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        <name>Port New Orleans Board of Commissioners</name>
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        <name>Port of Seattle Industrial Development Corp.</name>
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        <name>Port of Seattle WA</name>
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        <name>Prichard Water Works &amp; Sewer Board</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QWE87"/>
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        <name>Puerto Rico Electric Power Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Puerto Rico Electric Power Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Rockwall Independent School District</name>
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        <name>Rum River Special Education Cooperative</name>
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        <name>SA Energy Acquisition Public Facility Corp.</name>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
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          <isin value="US88035J4G43"/>
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      <invstOrSec>
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          <isin value="US88035J4H26"/>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
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          <isin value="US88035J8K19"/>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
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        <cusip>88035J8N5</cusip>
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          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.21000120</annualizedRt>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035JMD1</cusip>
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          <isin value="US88035JMD18"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
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        <cusip>88035JMG4</cusip>
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          <isin value="US88035JMG49"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
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        <cusip>88035JMK5</cusip>
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          <isin value="US88035JMK50"/>
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          <maturityDt>2054-07-01</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
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        <cusip>88035JMQ2</cusip>
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          <isin value="US88035JMQ21"/>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
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          <isin value="US88035JNK42"/>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
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          <isin value="US88035JPC08"/>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
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        <name>Tender Option Bond Trust Receipts/Certificates</name>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035MHV0</cusip>
        <identifiers>
          <isin value="US88035MHV00"/>
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        <balance>11045000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12094145.66000000</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>2055-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.30379965</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035MLZ6</cusip>
        <identifiers>
          <isin value="US88035MLZ67"/>
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        <balance>995000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1080093.38000000</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>2051-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.96679880</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035MMB8</cusip>
        <identifiers>
          <isin value="US88035MMB80"/>
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        <balance>1535000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1741498.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.47510145</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035MNC5</cusip>
        <identifiers>
          <isin value="US88035MNC54"/>
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        <balance>4130000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4686501.81000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.48140135</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035MNJ0</cusip>
        <identifiers>
          <isin value="US88035MNJ08"/>
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        <balance>4040000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4311695.66000000</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>2050-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.79870170</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035MNK7</cusip>
        <identifiers>
          <isin value="US88035MNK70"/>
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        <balance>4455000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4899763.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.30250025</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>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035MQR9</cusip>
        <identifiers>
          <isin value="US88035MQR96"/>
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        <balance>6740000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7492027.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.94200070</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>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035PYS1</cusip>
        <identifiers>
          <isin value="US88035PYS19"/>
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        <balance>5750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6381301.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.49139870</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>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035R4E1</cusip>
        <identifiers>
          <isin value="US88035R4E14"/>
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        <balance>2145000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2473703.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.98100095</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>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035RC36</cusip>
        <identifiers>
          <isin value="US88035RC365"/>
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        <balance>2255000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2520665.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.39999905</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035RR22</cusip>
        <identifiers>
          <isin value="US88035RR223"/>
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        <balance>2255000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2521695.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.87400120</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035RV43</cusip>
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          <isin value="US88035RV431"/>
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        <balance>2025000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2228401.94000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.91999850</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035RY32</cusip>
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          <isin value="US88035RY328"/>
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        <balance>830000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>922992.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035RY65</cusip>
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          <isin value="US88035RY658"/>
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        <balance>1245000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.92999950</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035TEP1</cusip>
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          <isin value="US88035TEP12"/>
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        <balance>3270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3542139.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.68000005</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035TFR6</cusip>
        <identifiers>
          <isin value="US88035TFR68"/>
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        <balance>6560000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7289984.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.45699965</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts</title>
        <cusip>88035TPS3</cusip>
        <identifiers>
          <isin value="US88035TPS32"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5521203.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.12999980</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>
      <invstOrSec>
        <name>Tennergy Corp.</name>
        <lei>5493008K3JJFBSC4C235</lei>
        <title>Tennergy Corp.</title>
        <cusip>880397CF9</cusip>
        <identifiers>
          <isin value="US880397CF98"/>
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        <balance>13735000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14595593.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-10-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Tennessee Housing Development Agency</name>
        <lei>25490004PSQYQLFJGI76</lei>
        <title>Tennessee Housing Development Agency</title>
        <cusip>880461VZ8</cusip>
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          <isin value="US880461VZ84"/>
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        <curCd>USD</curCd>
        <valUSD>482221.20000000</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>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Terre Haute IN</name>
        <lei>N/A</lei>
        <title>City of Terre Haute</title>
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          <isin value="US881093AS74"/>
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        <balance>4600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3781285.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Terrell TX</name>
        <lei>N/A</lei>
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          <isin value="US881435AB70"/>
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        <curCd>USD</curCd>
        <valUSD>1043275.60000000</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>2045-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Terrell TX</name>
        <lei>N/A</lei>
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          <isin value="US881435AC53"/>
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        <curCd>USD</curCd>
        <valUSD>1030999.10000000</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>2055-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Texas Community Housing &amp; Economic Development Corp.</name>
        <lei>N/A</lei>
        <title>Texas Community Housing &amp; Economic Development Corp., Series 2025A1</title>
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          <isin value="US88231CAA71"/>
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        <curCd>USD</curCd>
        <valUSD>9312119.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Texas Department of Housing &amp; Community Affairs</name>
        <lei>549300J3RRLLZZN4WP77</lei>
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          <isin value="US88275FQC67"/>
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        <curCd>USD</curCd>
        <valUSD>1073919.69000000</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>2049-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Texas State Technical College</name>
        <lei>N/A</lei>
        <title>Texas State Technical College</title>
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          <isin value="US88276RFJ68"/>
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        <balance>1595000.00000000</balance>
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        <curCd>USD</curCd>
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        <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>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Texas State Technical College</name>
        <lei>N/A</lei>
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          <isin value="US88276RFK32"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Texas State Technical College</name>
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          <isin value="US88276RFL15"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Texas Transportation Commission State Highway 249 System</name>
        <lei>N/A</lei>
        <title>Texas Transportation Commission State Highway 249 System</title>
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          <isin value="US88283NAJ19"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
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        <name>Texas Transportation Commission State Highway 249 System</name>
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      <invstOrSec>
        <name>Texas Transportation Commission State Highway 249 System</name>
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        <name>Texas Transportation Commission State Highway 249 System</name>
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      <invstOrSec>
        <name>Texas Transportation Commission State Highway 249 System</name>
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      <invstOrSec>
        <name>Three Rivers Community Development District</name>
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          <isin value="US88563MAN56"/>
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      <invstOrSec>
        <name>Three Rivers Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-05-01</maturityDt>
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      <invstOrSec>
        <name>Town of Tisbury MA</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-15</maturityDt>
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      <invstOrSec>
        <name>Town of Tisbury MA</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Tobacco Securitization Authority of Northern California</name>
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      <invstOrSec>
        <name>Iowa Tobacco Settlement Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toledo Hospital (The)</name>
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        <name>Toll Road Investors Partnership II LP</name>
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        <name>Toll Road Investors Partnership II LP</name>
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      <invstOrSec>
        <name>Tolomato Community Development District</name>
        <lei>N/A</lei>
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        <name>Tolomato Community Development District</name>
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        <name>City of Topeka KS</name>
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        <name>TSASC, Inc. NY</name>
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        <name>Tulsa Municipal Airport Trust Trustees/OK</name>
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        <name>Ulster County Capital Resource Corp.</name>
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        <name>Ulster County Capital Resource Corp.</name>
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        <name>University of Illinois</name>
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        <name>Virgin Islands Hotel Development Financing Corp.</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Waterset South Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US94186HAQ48"/>
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        <curCd>USD</curCd>
        <valUSD>1288300.80000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ESC WATERFORD CHARTER</name>
        <lei>N/A</lei>
        <title>ESC WATERFORD CHARTER</title>
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          <isin value="US941ESCAD76"/>
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        <valUSD>461610.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ESC WATERFORD CHARTER</name>
        <lei>N/A</lei>
        <title>ESC WATERFORD CHARTER</title>
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          <isin value="US941ESCAF25"/>
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        <valUSD>461610.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>West Central Ohio Port Authority</name>
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          <isin value="US95184BAD55"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isin value="US95184BAE39"/>
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        <valUSD>1477345.27000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>West Virginia Economic Development Authority</name>
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          <isin value="US95648VBU26"/>
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        <curCd>USD</curCd>
        <valUSD>4331431.98000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>5.45000000</annualizedRt>
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          <isin value="US95648VBV09"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>West Virginia Hospital Finance Authority</name>
        <lei>N/A</lei>
        <title>West Virginia Hospital Finance Authority</title>
        <cusip>956622S62</cusip>
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          <isin value="US956622S624"/>
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        <balance>6660000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5957391.31000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>West Virginia Hospital Finance Authority</name>
        <lei>N/A</lei>
        <title>West Virginia Hospital Finance Authority</title>
        <cusip>956622T87</cusip>
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          <isin value="US956622T879"/>
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        <balance>1160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1183953.54000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>West Virginia Housing Development Fund</name>
        <lei>N/A</lei>
        <title>West Virginia Housing Development Fund</title>
        <cusip>95662M5H9</cusip>
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          <isin value="US95662M5H96"/>
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        <balance>585000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-11-01</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Westchester County Local Development Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-01</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>Westchester County Local Development Corp.</name>
        <lei>549300KOSU8OC75V9238</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Westchester County Local Development Corp.</name>
        <lei>549300KOSU8OC75V9238</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Whatcom County Public Utility District No. 1</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Whatcom County Public Utility District No. 1</name>
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        <fairValLevel>2</fairValLevel>
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        <name>White Settlement Independent School District</name>
        <lei>549300B8PVL52E9C8O15</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-08-15</maturityDt>
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        <name>City of Wichita KS</name>
        <lei>549300Y20JVN3VP2V718</lei>
        <title>City of Wichita</title>
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        <balance>605000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Wichita KS</name>
        <lei>549300Y20JVN3VP2V718</lei>
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        <curCd>USD</curCd>
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      </invstOrSec>
      <invstOrSec>
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      <invstOrSec>
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        <curCd>USD</curCd>
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          <maturityDt>2034-05-15</maturityDt>
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      <invstOrSec>
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        <curCd>USD</curCd>
        <valUSD>2567939.50000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2055-06-01</maturityDt>
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      <invstOrSec>
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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>2060-06-01</maturityDt>
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      <invstOrSec>
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          <isin value="US969257BF08"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Wiregrass Community Development District</name>
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          <isin value="US97654RAC97"/>
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        <curCd>USD</curCd>
        <valUSD>900284.04000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-01</maturityDt>
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          <annualizedRt>4.87500000</annualizedRt>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wisconsin Center District</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Wisconsin Center District</name>
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      <invstOrSec>
        <name>Wyandotte County-Kansas City Unified Government</name>
        <lei>N/A</lei>
        <title>Wyandotte County-Kansas City Unified Government</title>
        <cusip>982707AA9</cusip>
        <identifiers>
          <isin value="US982707AA94"/>
        </identifiers>
        <balance>820000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>821061.08000000</valUSD>
        <pctVal>0.015190963258</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>Yamhill County Hospital Authority</name>
        <lei>N/A</lei>
        <title>Yamhill County Hospital Authority</title>
        <cusip>98464UAQ9</cusip>
        <identifiers>
          <isin value="US98464UAQ94"/>
        </identifiers>
        <balance>725000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>627113.91000000</valUSD>
        <pctVal>0.011602625672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yamhill County Hospital Authority</name>
        <lei>N/A</lei>
        <title>Yamhill County Hospital Authority</title>
        <cusip>98464UAV8</cusip>
        <identifiers>
          <isin value="US98464UAV89"/>
        </identifiers>
        <balance>745000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>752384.89000000</valUSD>
        <pctVal>0.013920342223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yamhill County Hospital Authority</name>
        <lei>N/A</lei>
        <title>Yamhill County Hospital Authority</title>
        <cusip>98464UAW6</cusip>
        <identifiers>
          <isin value="US98464UAW62"/>
        </identifiers>
        <balance>2625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2395207.50000000</valUSD>
        <pctVal>0.044315228201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>Yamhill County Hospital Authority</name>
        <lei>N/A</lei>
        <title>Yamhill County Hospital Authority</title>
        <cusip>98464UAX4</cusip>
        <identifiers>
          <isin value="US98464UAX46"/>
        </identifiers>
        <balance>3115000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2705329.84000000</valUSD>
        <pctVal>0.050052995083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yamhill County Hospital Authority</name>
        <lei>N/A</lei>
        <title>Yamhill County Hospital Authority</title>
        <cusip>98464UAY2</cusip>
        <identifiers>
          <isin value="US98464UAY29"/>
        </identifiers>
        <balance>6520000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5545855.28000000</valUSD>
        <pctVal>0.102607328303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63607WAE4</cusip>
        <identifiers>
          <isin value="US63607WAE49"/>
        </identifiers>
        <balance>7442996.77000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7390063.67000000</valUSD>
        <pctVal>0.136728178232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-20</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>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63607WAF1</cusip>
        <identifiers>
          <isin value="US63607WAF14"/>
        </identifiers>
        <balance>32675209.40000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1294925.08000000</valUSD>
        <pctVal>0.023958216740</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.67400000</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>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health &amp; Educational Facilities Authority, Series 2017</title>
        <cusip>97712DZD1</cusip>
        <identifiers>
          <isin value="US97712DZD10"/>
        </identifiers>
        <balance>2315000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1273250.00000000</valUSD>
        <pctVal>0.023557192563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AES Guayama Holdings BV</name>
        <lei>N/A</lei>
        <title>AES Guayama Holdings BV, Preference</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="WB7B515"/>
        </identifiers>
        <balance>65897.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>658.97000000</valUSD>
        <pctVal>0.000012192015</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health &amp; Educational Facilities Authority, Series 2017</title>
        <cusip>97712DZE9</cusip>
        <identifiers>
          <isin value="US97712DZE92"/>
        </identifiers>
        <balance>1265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>695750.00000000</valUSD>
        <pctVal>0.012872504791</pctVal>
        <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>5.00000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health &amp; Educational Facilities Authority, Series 2017</title>
        <cusip>97712DZF6</cusip>
        <identifiers>
          <isin value="US97712DZF67"/>
        </identifiers>
        <balance>1315000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>723250.00000000</valUSD>
        <pctVal>0.013381299447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health &amp; Educational Facilities Authority, Series 2017</title>
        <cusip>97712DZC3</cusip>
        <identifiers>
          <isin value="US97712DZC37"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55000.00000000</valUSD>
        <pctVal>0.001017589311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="All applicable monthly total returns are reported excluding any sales loads or redemption fees for Item B.5." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-06-01</ncom:dateSigned>
      <ncom:nameOfApplicant>MFS Series Trust III</ncom:nameOfApplicant>
      <ncom:signature>James Byrne</ncom:signature>
      <ncom:signerName>James Byrne</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
