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      <invstOrSec>
        <name>Oregon State Facilities Authority</name>
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          <maturityDt>2028-12-01</maturityDt>
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        <name>Westmoreland County Industrial Development Authority PA</name>
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        <name>Pennsylvania Higher Education Assistance Agency</name>
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        <name>New Hampshire Business Finance Authority</name>
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        <name>Palm Beach County Health Facilities Authority</name>
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        <name>Maryland Economic Development Corp.</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Florida Higher Educational Facilities Financial Authority</name>
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        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
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        <name>Maricopa County Pollution Control Corp.</name>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US130493CF42"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Village of Los Ranchos de Albuquerque NM</name>
        <lei>N/A</lei>
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          <isin value="US545610AW73"/>
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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>2026-09-01</maturityDt>
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      <invstOrSec>
        <name>Chicago Board of Education</name>
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          <isin value="US167501XD25"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Brazos Higher Education Authority, Inc.</name>
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          <isin value="US10623ACJ07"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Village Community Development District No. 15</name>
        <lei>N/A</lei>
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          <isin value="US92708KAF49"/>
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        <curCd>USD</curCd>
        <valUSD>739622.18000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Black Belt Energy Gas District</name>
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          <isin value="US09182TDU88"/>
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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>2055-05-01</maturityDt>
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      <invstOrSec>
        <name>County of Lackawanna PA</name>
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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>2035-09-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>South Carolina Student Loan Corp.</name>
        <lei>549300PIO3ZMSROGFF38</lei>
        <title>South Carolina Student Loan Corp.</title>
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          <isin value="US83715AAS87"/>
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        <balance>6850000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.46800000</annualizedRt>
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      <invstOrSec>
        <name>New Jersey Higher Education Student Assistance Authority</name>
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          <isin value="US646080VK46"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-01</maturityDt>
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        <name>Pennsylvania Housing Finance Agency</name>
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        <name>St Clair County Community Unit School District No. 187 Cahokia</name>
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        <name>County of Jefferson AL Sewer Revenue</name>
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        <name>Greater Orlando Aviation Authority</name>
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        <name>Allegheny County Airport Authority</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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        <name>Public Finance Authority</name>
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        <name>Tennessee Energy Acquisition Corp.</name>
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        <name>State of Ohio</name>
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        <lei>N/A</lei>
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          <maturityDt>2029-12-31</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
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          <isin value="US45204FKE42"/>
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        <valUSD>618499.44000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
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          <isin value="US452017AG14"/>
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        <curCd>USD</curCd>
        <valUSD>247303.33000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky Higher Education Student Loan Corp.</name>
        <lei>N/A</lei>
        <title>Kentucky Higher Education Student Loan Corp.</title>
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          <isin value="US49130NEH89"/>
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        <curCd>USD</curCd>
        <valUSD>3052336.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tarrant County Housing Finance Corp.</name>
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          <isin value="US876394UP04"/>
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        <curCd>USD</curCd>
        <valUSD>7009438.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
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      <invstOrSec>
        <name>Lancaster Higher Education Authority</name>
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          <isin value="US514328HM85"/>
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        <curCd>USD</curCd>
        <valUSD>633600.51000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Maricopa County Industrial Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US56681NED57"/>
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        <curCd>USD</curCd>
        <valUSD>200389.26000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kentucky Higher Education Student Loan Corp.</name>
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          <isin value="US49130NEF24"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
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          <isin value="US452031AF41"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lancaster City Parking Authority</name>
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          <maturityDt>2031-09-01</maturityDt>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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          <maturityDt>2060-03-15</maturityDt>
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        <name>Decatur Housing Authority</name>
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          <maturityDt>2028-08-01</maturityDt>
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        <name>Connecticut Housing Finance Authority</name>
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        <name>Metropolitan Pier &amp; Exposition Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
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        <name>Connecticut State Higher Education Supplement Loan Authority</name>
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        <name>County of Carroll KY</name>
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          <maturityDt>2026-02-01</maturityDt>
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      <invstOrSec>
        <name>District of Columbia Housing Finance Agency</name>
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      <invstOrSec>
        <name>Transbay Joint Powers Authority</name>
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      <invstOrSec>
        <name>Hazleton Area School District</name>
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          <isin value="US422002QR96"/>
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      <invstOrSec>
        <name>Miami-Dade County Housing Finance Authority</name>
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          <isin value="US593344BU77"/>
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        <name>Colorado Health Facilities Authority</name>
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      <invstOrSec>
        <name>Maricopa County Industrial Development Authority</name>
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          <isin value="US56681NEB91"/>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
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          <isin value="US57584XMH16"/>
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        <name>Michigan Finance Authority</name>
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        <name>Madison County Community Unit School District No. 7 Edwardsville</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>Brazos Higher Education Authority, Inc.</name>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <name>Pennsylvania Higher Education Assistance Agency</name>
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        <name>Antonio B Won Pat International Airport Authority</name>
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        <name>Virginia Housing Development Authority</name>
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        <name>TSASC, Inc. NY</name>
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        <name>Pennsylvania Higher Education Assistance Agency</name>
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      <invstOrSec>
        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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      <invstOrSec>
        <name>North Texas Higher Education Authority, Inc.</name>
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          <isin value="US66286UAE91"/>
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        <name>County of Warren MS</name>
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          <maturityDt>2034-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.37499840</annualizedRt>
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      <invstOrSec>
        <name>Tulsa Airports Improvement Trust</name>
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          <isin value="US899647SZ52"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Saginaw Hospital Finance Authority</name>
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          <isin value="US786744HV76"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Vermont Student Assistance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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      <invstOrSec>
        <name>County of Ohio WV</name>
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      <invstOrSec>
        <name>Omaha Airport Authority</name>
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          <isin value="US681725MS39"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Washoe NV</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <name>Oklahoma Turnpike Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chester County Health and Education Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-01</maturityDt>
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        <name>Port Authority of New York &amp; New Jersey</name>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <name>Harris County Municipal Utility District No. 287</name>
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        <name>Pennsylvania Higher Education Assistance Agency</name>
        <lei>N/A</lei>
        <title>Pennsylvania Higher Education Assistance Agency</title>
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        <name>Indiana Secondary Market for Education Loans, Inc.</name>
        <lei>549300M19IK303TD4597</lei>
        <title>Indiana Secondary Market for Education Loans, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
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          <maturityDt>2028-07-01</maturityDt>
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        <name>Greater Orlando Aviation Authority</name>
        <lei>549300CP6PUG5S184F61</lei>
        <title>Greater Orlando Aviation Authority, Series 2024</title>
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        <name>MFS Institutional Money Market Portfolio</name>
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        <name>Metropolitan Pier &amp; Exposition Authority</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>North Texas Higher Education Authority, Inc.</name>
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        <name>Virginia Beach Development Authority</name>
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        <name>Montgomery County Higher Education and Health Authority</name>
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        <name>Florida Higher Educational Facilities Financial Authority</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>City of Houston TX Airport System Revenue</name>
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        <name>Glendale Industrial Development Authority</name>
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        <name>Illinois Finance Authority</name>
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        <name>North Carolina Medical Care Commission</name>
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        <name>Atlanta Urban Residential Finance Authority</name>
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        <name>Finance Authority of Maine</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Northern Illinois University</name>
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        <name>Illinois Housing Development Authority</name>
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        <name>Ohio Higher Educational Facility Commission</name>
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        <name>THF Public Facility Corp.</name>
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        <name>Black Belt Energy Gas District</name>
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        <name>New York City Housing Development Corp.</name>
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        <name>Idaho Health Facilities Authority</name>
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        <name>Michigan State Housing Development Authority</name>
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        <name>Kentucky Higher Education Student Loan Corp.</name>
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        <name>Irving Hospital Authority</name>
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          <isin value="US463794JS74"/>
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          <maturityDt>2025-10-15</maturityDt>
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        <name>County of Ohio WV</name>
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          <maturityDt>2028-06-01</maturityDt>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>North Carolina State Education Assistance Authority</name>
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          <isin value="US658262GW46"/>
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        <name>Omaha Airport Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Patriots Energy Group Financing Agency</name>
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          <isin value="US70342PAR55"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oregon State Facilities Authority</name>
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          <maturityDt>2028-10-01</maturityDt>
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        <name>Chandler Industrial Development Authority</name>
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        <name>County of Miami-Dade FL Aviation Revenue</name>
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        <name>Tennergy Corp.</name>
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        <name>Chicago Board of Education</name>
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        <name>Texas Transportation Commission State Highway 249 System</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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      <invstOrSec>
        <name>St Clair County Community Unit School District No. 187 Cahokia</name>
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        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
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        <name>North Carolina Medical Care Commission</name>
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          <maturityDt>2028-10-01</maturityDt>
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        <name>County of Trimble KY</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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          <isin value="US79766DNE57"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Development Authority of Monroe County (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Community Choice Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-10-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>North Carolina Medical Care Commission</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Chicago Board of Education</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>Palm Beach County Health Facilities Authority</name>
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        <title>Palm Beach County Health Facilities Authority</title>
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        <name>California Municipal Finance Authority</name>
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        <name>Pennsylvania Higher Education Assistance Agency</name>
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        <name>Upper Illinois River Valley Development Authority</name>
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        <name>Wise County Industrial Development Authority</name>
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        <name>Tulsa County Industrial Authority</name>
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        <name>Klickitat County Public Utility District No. 1</name>
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        <name>San Diego County Regional Airport Authority</name>
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      <invstOrSec>
        <name>Chatom Industrial Development Board</name>
        <lei>N/A</lei>
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          <isin value="US16229PAT21"/>
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      <invstOrSec>
        <name>County of Jefferson AL Sewer Revenue</name>
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        <name>City of Houston TX Airport System Revenue</name>
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        <name>North Carolina Housing Finance Agency</name>
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          <maturityDt>2028-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Irving Hospital Authority</name>
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          <isin value="US463794JV04"/>
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          <maturityDt>2028-10-15</maturityDt>
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        <name>West Virginia Economic Development Authority</name>
        <lei>549300WW88TKKF5H1220</lei>
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          <isin value="US95648MNN55"/>
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        <valUSD>829929.28000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2025-11-01</maturityDt>
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          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky Higher Education Student Loan Corp.</name>
        <lei>N/A</lei>
        <title>Kentucky Higher Education Student Loan Corp.</title>
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          <isin value="US49130NFK00"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Greater Asheville Regional Airport Authority</name>
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        <title>Greater Asheville Regional Airport Authority</title>
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          <isin value="US39160CBD83"/>
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          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Oregon State Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>School District of Philadelphia (The)</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>Empire State Development Corp.</name>
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        <name>Rhode Island Student Loan Authority</name>
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      <invstOrSec>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Lancaster City Parking Authority</name>
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      <invstOrSec>
        <name>Rhode Island Student Loan Authority</name>
        <lei>N/A</lei>
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          <isin value="US762315RH49"/>
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      <invstOrSec>
        <name>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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          <isin value="US13058TLB43"/>
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      <invstOrSec>
        <name>Capital Area Finance Authority</name>
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          <isin value="US13973GBJ85"/>
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          <maturityDt>2054-04-01</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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        <name>Northampton County General Purpose Authority</name>
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          <isin value="US66353RDH49"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-15</maturityDt>
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        <name>California Statewide Communities Development Authority</name>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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          <isin value="US13058TLC26"/>
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      <invstOrSec>
        <name>City of Temple TX</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
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        <name>City of Vernon CA Electric System Revenue</name>
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        <name>Memphis-Shelby County Airport Authority</name>
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        <name>Michigan Finance Authority</name>
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        <name>Omaha Airport Authority</name>
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        <name>Missouri Housing Development Commission</name>
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        <name>Bartow County Development Authority</name>
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        <name>St Louis Land Clearance for Redevelopment Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Michigan Strategic Fund</name>
        <lei>N/A</lei>
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          <isin value="US59468PAA30"/>
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        <valUSD>4257266.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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      <invstOrSec>
        <name>Stamford Housing Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
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          <isin value="US97712JEA79"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Village of Los Ranchos de Albuquerque NM</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Auburn University</name>
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          <isin value="US050589NR73"/>
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        <balance>435000.00000000</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>2035-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
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          <isin value="US45204FKB03"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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        <name>County of Jefferson AL Sewer Revenue</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Irving TX</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-15</maturityDt>
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      <invstOrSec>
        <name>Michigan Finance Authority</name>
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          <isin value="US59447TK440"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Matching Fund Special Purpose Securitization Corp.</name>
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        <invCountry>VI</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Wayne County Airport Authority</name>
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        <name>Jefferson County Jail Building Corp.</name>
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        <name>Kentucky Housing Corp.</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Orange County Health Facilities Authority</name>
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        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Authority</name>
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        <name>Rhode Island Student Loan Authority</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Atlanta Urban Residential Finance Authority</name>
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      <invstOrSec>
        <name>Columbus Metropolitan Housing Authority</name>
        <lei>N/A</lei>
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          <isin value="US19951AAR77"/>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
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          <isin value="US34061WBE30"/>
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        <valUSD>1248275.13000000</valUSD>
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          <maturityDt>2027-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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          <isin value="US364568JB28"/>
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        <curCd>USD</curCd>
        <valUSD>1137968.22000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>North Carolina Medical Care Commission</name>
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          <isin value="US65821DYR69"/>
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        <curCd>USD</curCd>
        <valUSD>799790.28000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cumberland County Industrial Facilities &amp; Pollution Control Financing Authority</name>
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        <cusip>230589AA1</cusip>
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          <isin value="US230589AA18"/>
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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>2027-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Vermont Student Assistance Corp.</name>
        <lei>549300VHYVRSKNFRSZ91</lei>
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        <cusip>92428CNE0</cusip>
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          <isin value="US92428CNE02"/>
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        <balance>690000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>723245.86000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Rhode Island Student Loan Authority</name>
        <lei>N/A</lei>
        <title>Rhode Island Student Loan Authority, Series 2024 A</title>
        <cusip>762323DA8</cusip>
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          <isin value="US762323DA83"/>
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        <balance>1960000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2050529.46000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tulsa County Industrial Authority</name>
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          <isin value="US899530AP47"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>799396.48000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Westmoreland County Industrial Development Authority PA</name>
        <lei>N/A</lei>
        <title>Westmoreland County Industrial Development Authority</title>
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          <isin value="US961008RQ48"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Massachusetts Development Finance Agency</name>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>New Hampshire Business Finance Authority</name>
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          <maturityDt>2038-12-15</maturityDt>
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      <invstOrSec>
        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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          <maturityDt>2032-08-01</maturityDt>
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        <name>Columbus Regional Airport Authority</name>
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          <isin value="US199546CR16"/>
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      <invstOrSec>
        <name>Vermont Student Assistance Corp.</name>
        <lei>549300VHYVRSKNFRSZ91</lei>
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          <isin value="US92428CMC54"/>
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        <name>New Jersey Higher Education Student Assistance Authority</name>
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      <invstOrSec>
        <name>Florida Housing Finance Corp.</name>
        <lei>549300W0PCIJCI0JCF10</lei>
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        <name>Cook County School District No. 111 Burbank</name>
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        <name>Maryland Health &amp; Higher Educational Facilities Authority</name>
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        <name>Seattle Housing Authority</name>
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        <name>Arkansas Development Finance Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Lancaster City Parking Authority</name>
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        <name>Central Valley Energy Authority</name>
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        <name>Vermont Student Assistance Corp.</name>
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        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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          <maturityDt>2030-08-01</maturityDt>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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          <isin value="US97712D8R00"/>
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        <name>Industrial Development Board of the City of Mobile Alabama</name>
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          <maturityDt>2034-06-01</maturityDt>
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      <invstOrSec>
        <name>Sumter Two School Facilities, Inc.</name>
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          <isin value="US866613BD31"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Antonio B Won Pat International Airport Authority</name>
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        <invCountry>GU</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
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        <name>Public Finance Authority</name>
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          <isin value="US74442CCM47"/>
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        <name>North Carolina Medical Care Commission</name>
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        <name>West Rankin Utility Authority</name>
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        <name>Cuyahoga Metropolitan Housing Authority</name>
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        <name>Energy Southeast A Cooperative District</name>
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        <name>School District of Philadelphia (The)</name>
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        <name>North Carolina Medical Care Commission</name>
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        <name>Greater Asheville Regional Airport Authority</name>
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        <name>Missouri Development Finance Board</name>
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        <name>Berks County Municipal Authority (The)</name>
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        <name>Michigan Finance Authority</name>
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      <invstOrSec>
        <name>Pequea Valley School District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Wayne County Airport Authority</name>
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      <invstOrSec>
        <name>EP Essential Housing WF PFC</name>
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          <maturityDt>2034-12-01</maturityDt>
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      <invstOrSec>
        <name>Main Street Natural Gas, Inc.</name>
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          <isin value="US56035DCR17"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2050-03-01</maturityDt>
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          <annualizedRt>3.99999960</annualizedRt>
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      <invstOrSec>
        <name>Chicago Midway International Airport</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Hampshire Health and Education Facilities Authority Act</name>
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          <isin value="US64461XKE49"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chandler Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-12-01</maturityDt>
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          <annualizedRt>4.10000000</annualizedRt>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>City of Chicago IL</name>
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        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
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        <name>Knox County Health Educational &amp; Housing Facility Board</name>
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        <name>New Jersey Higher Education Student Assistance Authority</name>
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        <name>County of Warren MS</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Palm Beach County Health Facilities Authority</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <name>Michigan State Housing Development Authority</name>
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        <name>City of San Antonio TX Airport System</name>
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        <name>Rhode Island Student Loan Authority</name>
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          <isin value="US56042TDQ85"/>
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        <name>Virginia Housing Development Authority</name>
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        <name>New Jersey Higher Education Student Assistance Authority</name>
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        <name>New Hampshire Business Finance Authority</name>
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        <name>Omaha Airport Authority</name>
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        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
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        <name>Mississippi Hospital Equipment &amp; Facilities Authority</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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        <name>Poplar Bluff Regional Transportation Development District Sales Tax Revenue</name>
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        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>New Hampshire Business Finance Authority</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>New York Transportation Development Corp.</name>
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          <isin value="US650116DE38"/>
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        <name>North Carolina Medical Care Commission</name>
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        <name>Montgomery County Higher Education and Health Authority</name>
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        <name>Lehigh County General Purpose Authority</name>
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        <name>Houston Housing Finance Corp.</name>
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        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
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        <name>Massachusetts Educational Financing Authority</name>
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        <name>North Carolina Housing Finance Agency</name>
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        <name>Vermont Student Assistance Corp.</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>New York Transportation Development Corp.</name>
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        <name>Omaha Airport Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Illinois Finance Authority</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Rhode Island Student Loan Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Vermont Student Assistance Corp.</name>
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          <isin value="US92428CME11"/>
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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>2028-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chicago Board of Education</name>
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          <isin value="US167505QY58"/>
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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>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Texas Department of Housing &amp; Community Affairs</name>
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          <isin value="US88275AEP12"/>
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        <curCd>USD</curCd>
        <valUSD>4015114.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vermont Student Assistance Corp.</name>
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          <isin value="US92428CNG59"/>
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        <curCd>USD</curCd>
        <valUSD>580951.03000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Louisiana Housing Corp.</name>
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          <isin value="US54627CBW29"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>City of Gulfport MS</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Wayne County Airport Authority</name>
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          <isin value="US944514ZT89"/>
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        <valUSD>1785109.35000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
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        <title>California County Tobacco Securitization Agency</title>
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          <isin value="US13016NEH35"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Wisconsin Center District</name>
        <lei>N/A</lei>
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          <isin value="US976595FZ63"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Oregon State Facilities Authority</name>
        <lei>N/A</lei>
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          <isin value="US68608JYD70"/>
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      <invstOrSec>
        <name>Iowa Student Loan Liquidity Corp.</name>
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          <isin value="US462590PC80"/>
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          <maturityDt>2028-12-01</maturityDt>
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        <name>San Ramon Public Financing Authority</name>
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          <isin value="US799385CV94"/>
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          <maturityDt>2026-02-01</maturityDt>
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        <name>New Jersey Economic Development Authority</name>
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      <invstOrSec>
        <name>Allegheny County Airport Authority</name>
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          <isin value="US01728LKJ07"/>
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          <maturityDt>2032-01-01</maturityDt>
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        <name>State of Ohio</name>
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        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp.</title>
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          <maturityDt>2026-04-01</maturityDt>
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        <name>Special Care Facilities Financing Authority of the City of Pell City Alabama</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2025-12-01</maturityDt>
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      <invstOrSec>
        <name>Arlington Higher Education Finance Corp.</name>
        <lei>N/A</lei>
        <title>Arlington Higher Education Finance Corp.</title>
        <cusip>0418063B4</cusip>
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          <isin value="US0418063B45"/>
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        <balance>575000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>572320.79000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Columbus Regional Airport Authority</name>
        <lei>N/A</lei>
        <title>Columbus Regional Airport Authority, Series 2025 A</title>
        <cusip>199546CQ3</cusip>
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          <isin value="US199546CQ33"/>
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        <balance>3120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3300784.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ohio Housing Finance Agency</name>
        <lei>549300K10X7VPG6JVX38</lei>
        <title>Ohio Housing Finance Agency</title>
        <cusip>676900WC3</cusip>
        <identifiers>
          <isin value="US676900WC32"/>
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        <balance>2460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2479141.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York State Housing Finance Agency</name>
        <lei>5493000LS7KCDB02O506</lei>
        <title>New York State Housing Finance Agency, Series 2024 A-2</title>
        <cusip>649870NF5</cusip>
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          <isin value="US649870NF58"/>
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        <balance>2445000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2412520.62000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.45000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63608SAJ1</cusip>
        <identifiers>
          <isin value="US63608SAJ15"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>273211.96000000</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>2030-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Series 2024C</title>
        <cusip>13013JEB8</cusip>
        <identifiers>
          <isin value="US13013JEB89"/>
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        <balance>1875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1965149.25000000</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>2055-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Housing &amp; Mortgage Finance Agency</name>
        <lei>5493002ONULJL0FIGU24</lei>
        <title>New Jersey Housing &amp; Mortgage Finance Agency, Series 2024B</title>
        <cusip>6461084M9</cusip>
        <identifiers>
          <isin value="US6461084M90"/>
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        <balance>2760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2723912.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Territory of Guam</name>
        <lei>N/A</lei>
        <title>Territory of Guam</title>
        <cusip>40065NCL9</cusip>
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          <isin value="US40065NCL91"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>410284.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13048RAL1</cusip>
        <identifiers>
          <isin value="US13048RAL15"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>450184.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pennsylvania Housing Finance Agency</name>
        <lei>549300JZVUPNWP77SP29</lei>
        <title>Pennsylvania Housing Finance Agency</title>
        <cusip>70879QJL8</cusip>
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          <isin value="US70879QJL86"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>754766.70000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago O'Hare International Airport</name>
        <lei>N/A</lei>
        <title>Chicago O'Hare International Airport, Series 2024 A</title>
        <cusip>1675934G4</cusip>
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          <isin value="US1675934G41"/>
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        <balance>1325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1394730.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Montgomery County Housing Opportunities Commission</name>
        <lei>549300HDL0LLRHMDL092</lei>
        <title>Montgomery County Housing Opportunities Commission, Series 2025 A</title>
        <cusip>613347SR5</cusip>
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          <isin value="US613347SR50"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3949509.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky Economic Development Finance Authority</name>
        <lei>N/A</lei>
        <title>Kentucky Economic Development Finance Authority</title>
        <cusip>49126KJU6</cusip>
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          <isin value="US49126KJU60"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2015891.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp.</title>
        <cusip>650116CG9</cusip>
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          <isin value="US650116CG94"/>
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        <balance>3965000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4040816.75000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Topeka KS</name>
        <lei>549300NFEU1XBKVICM54</lei>
        <title>City of Topeka, Kansas Health Care Facilities</title>
        <cusip>890585BR2</cusip>
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          <isin value="US890585BR21"/>
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        <balance>1910000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1950020.04000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority, Series 2024 A</title>
        <cusip>65000B4M7</cusip>
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          <isin value="US65000B4M76"/>
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        <balance>610000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>668327.22000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Iowa Student Loan Liquidity Corp.</name>
        <lei>549300FO1LWVSZKGJK70</lei>
        <title>Iowa Student Loan Liquidity Corp., Series 2023 B</title>
        <cusip>462590NV8</cusip>
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          <isin value="US462590NV89"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2072237.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp.</title>
        <cusip>34061WBF0</cusip>
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          <isin value="US34061WBF05"/>
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        <balance>825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>804550.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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      <invstOrSec>
        <name>Hammond Multi-School Building Corp.</name>
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      <invstOrSec>
        <name>Charles City County Economic Development Authority</name>
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      <invstOrSec>
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        <name>Illinois Finance Authority</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Massachusetts Educational Financing Authority</name>
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        <name>Lancaster County Hospital Authority PA</name>
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          <maturityDt>2025-11-01</maturityDt>
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        <name>Broward County Housing Finance Authority</name>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <name>Brazos Higher Education Authority, Inc.</name>
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        <name>Black Belt Energy Gas District</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Tennergy Corp.</name>
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        <name>Allegheny County Hospital Development Authority</name>
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        <name>Vermont Student Assistance Corp.</name>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
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        <name>West Rankin Utility Authority</name>
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      <invstOrSec>
        <name>City of Elgin TX</name>
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        <name>New York State Environmental Facilities Corp.</name>
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          <isin value="US649852AS92"/>
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          <maturityDt>2050-09-01</maturityDt>
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          <annualizedRt>2.75000000</annualizedRt>
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        <name>Denver Convention Center Hotel Authority</name>
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          <isin value="US249189DD08"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>North Carolina State Education Assistance Authority</name>
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          <isin value="US658262GT17"/>
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          <maturityDt>2031-06-01</maturityDt>
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        <name>Louisville/Jefferson County Metropolitan Government</name>
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          <maturityDt>2026-05-01</maturityDt>
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        <name>Brazos Higher Education Authority, Inc.</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>St Clair County Community Unit School District No. 187 Cahokia</name>
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        <name>New Hampshire Health and Education Facilities Authority Act</name>
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        <fairValLevel>2</fairValLevel>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>Knox County Health Educational &amp; Housing Facility Board</name>
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        <name>New Jersey Turnpike Authority</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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        <name>King County Housing Authority</name>
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          <maturityDt>2029-06-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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          <isin value="US79766DWH87"/>
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          <maturityDt>2030-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Illinois Finance Authority</name>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority</title>
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          <maturityDt>2026-11-15</maturityDt>
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          <annualizedRt>2.52000000</annualizedRt>
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        <name>City of Dallas TX</name>
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          <maturityDt>2053-08-15</maturityDt>
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        <name>Kentucky State University</name>
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        <name>New Hampshire Business Finance Authority</name>
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        <name>Los Angeles Housing Authority</name>
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        <name>Tennergy Corp.</name>
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        <name>Pennsylvania Higher Education Assistance Agency</name>
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        <name>Indiana Secondary Market for Education Loans, Inc.</name>
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        <name>Austin Convention Enterprises, Inc.</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
        <lei>549300FO1LWVSZKGJK70</lei>
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        <name>Northern Illinois University</name>
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        <name>Virginia College Building Authority</name>
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        <name>Southern Illinois University</name>
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        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
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        <name>New Jersey Higher Education Student Assistance Authority</name>
        <lei>5493007OOYUHTF8GSL63</lei>
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      <invstOrSec>
        <name>Rhode Island Health and Educational Building Corp.</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lamar Consolidated Independent School District</name>
        <lei>N/A</lei>
        <title>Lamar Consolidated Independent School District</title>
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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>
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          <isin value="US65820YTA46"/>
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        <valUSD>520910.93000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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        <name>City of Middleburg Heights OH</name>
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          <isin value="US596126DF63"/>
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        <curCd>USD</curCd>
        <valUSD>508208.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Greater Asheville Regional Airport Authority</name>
        <lei>N/A</lei>
        <title>Greater Asheville Regional Airport Authority</title>
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          <isin value="US39160CAE75"/>
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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>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Klickitat County Public Utility District No. 1</name>
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          <isin value="US498622LF46"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Allentown Neighborhood Improvement Zone Development Authority</name>
        <lei>N/A</lei>
        <title>Allentown Neighborhood Improvement Zone Development Authority</title>
        <cusip>018444BN8</cusip>
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          <isin value="US018444BN81"/>
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        <curCd>USD</curCd>
        <valUSD>496690.85000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Triborough Bridge &amp; Tunnel Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-05-15</maturityDt>
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        <name>Massachusetts Educational Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Michigan State Hospital Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Colorado Health Facilities Authority</name>
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        <name>New Jersey Higher Education Student Assistance Authority</name>
        <lei>5493007OOYUHTF8GSL63</lei>
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        <name>New Jersey Building Authority</name>
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        <name>Madison County Community Unit School District No. 7 Edwardsville</name>
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        <name>Rhode Island Student Loan Authority</name>
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        <title>Rhode Island Student Loan Authority</title>
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        <name>EP Tuscany Zaragosa PFC</name>
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        <name>Rhode Island Student Loan Authority</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Iowa Student Loan Liquidity Corp.</name>
        <lei>549300FO1LWVSZKGJK70</lei>
        <title>Iowa Student Loan Liquidity Corp.</title>
        <cusip>462590LW8</cusip>
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          <isin value="US462590LW80"/>
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        <curCd>USD</curCd>
        <valUSD>1436508.44000000</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>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Indiana Secondary Market for Education Loans, Inc.</name>
        <lei>549300M19IK303TD4597</lei>
        <title>Indiana Secondary Market for Education Loans, Inc.</title>
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        <identifiers>
          <isin value="US45505NAH70"/>
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        <balance>520000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>534783.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Washington State Housing Finance Commission</name>
        <lei>549300YL1HU59NREG764</lei>
        <title>Washington State Housing Finance Commission, Series MTEBS 2024</title>
        <cusip>93979AAC3</cusip>
        <identifiers>
          <isin value="US93979AAC36"/>
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        <balance>1470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1461259.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
        <lei>54930055TIDYHNDP4F84</lei>
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        <cusip>79766DWG0</cusip>
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          <isin value="US79766DWG05"/>
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        <balance>910000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>951970.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Rhode Island Student Loan Authority</name>
        <lei>N/A</lei>
        <title>Rhode Island Student Loan Authority, Series 2024 A</title>
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          <isin value="US762323CX95"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>825452.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Gulfport MS</name>
        <lei>N/A</lei>
        <title>City of Gulfport</title>
        <cusip>402682CK2</cusip>
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          <isin value="US402682CK23"/>
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        <balance>3680000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3682761.10000000</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>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Minnesota Rural Water Finance Authority, Inc.</name>
        <lei>N/A</lei>
        <title>Minnesota Rural Water Finance Authority, Inc.</title>
        <cusip>60411PBE0</cusip>
        <identifiers>
          <isin value="US60411PBE07"/>
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        <balance>3450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3446623.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pennsylvania Higher Education Assistance Agency</name>
        <lei>N/A</lei>
        <title>Pennsylvania Higher Education Assistance Agency</title>
        <cusip>70878CAE5</cusip>
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          <isin value="US70878CAE57"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>236367.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Farmington NM</name>
        <lei>5493000GWMTI2L4AZA61</lei>
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        <cusip>311450GC8</cusip>
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          <isin value="US311450GC89"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6974641.10000000</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>2040-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Miami-Dade FL Aviation Revenue</name>
        <lei>N/A</lei>
        <title>County of Miami-Dade, Series A</title>
        <cusip>59333PR75</cusip>
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          <isin value="US59333PR759"/>
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        <balance>1145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1145484.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York City Housing Development Corp.</name>
        <lei>549300SQWVHKBRF8D702</lei>
        <title>New York City Housing Development Corp.</title>
        <cusip>64972EVK2</cusip>
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          <isin value="US64972EVK27"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.90000000</annualizedRt>
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      <invstOrSec>
        <name>City of Vernon CA Electric System Revenue</name>
        <lei>N/A</lei>
        <title>City of Vernon, Electric System</title>
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          <isin value="US924397EJ72"/>
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        <balance>1000000.00000000</balance>
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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>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC Multifamily ML Certificates</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series 2024-ML21, Class AUS</title>
        <cusip>3137HC2E1</cusip>
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          <isin value="US3137HC2E14"/>
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        <balance>5726343.81000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5918393.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.32610560</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
        <cusip>646136EV9</cusip>
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          <isin value="US646136EV97"/>
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        <balance>1890000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Owen KY</name>
        <lei>N/A</lei>
        <title>County of Owen, Series 2020</title>
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          <isin value="US69068WAD56"/>
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        <balance>2385000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2351371.74000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>130493CC1</cusip>
        <identifiers>
          <isin value="US130493CC11"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>130488.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kane County School District No. 131 Aurora East Side</name>
        <lei>N/A</lei>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>706201.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Omaha Airport Authority</name>
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        <name>Kentucky Economic Development Finance Authority</name>
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        <name>Chicago Transit Authority Capital Grant Receipts Revenue</name>
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        <name>Missouri Development Finance Board</name>
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        <name>Raleigh Durham Airport Authority</name>
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        <name>Carol Stream Park District</name>
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        <name>Regional Transportation District</name>
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        <name>Brazos Higher Education Authority, Inc.</name>
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        <name>Illinois Finance Authority</name>
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        <name>Antonio B Won Pat International Airport Authority</name>
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        <name>Vermont Student Assistance Corp.</name>
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        <name>Indiana Secondary Market for Education Loans, Inc.</name>
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      <invstOrSec>
        <name>North Carolina State Education Assistance Authority</name>
        <lei>N/A</lei>
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          <isin value="US658262GU89"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
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      <invstOrSec>
        <name>City of Middleburg Heights OH</name>
        <lei>549300YPL4J3W5PGVS22</lei>
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        <valUSD>1055972.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority, Series 2024B</title>
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          <isin value="US63610TAD81"/>
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        <valUSD>616560.34000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2034-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.33000000</annualizedRt>
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      <invstOrSec>
        <name>Chicago O'Hare International Airport</name>
        <lei>N/A</lei>
        <title>Chicago O'Hare International Airport</title>
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          <isin value="US167590EY09"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2040867.60000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
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          <isin value="US65821DYP04"/>
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        <curCd>USD</curCd>
        <valUSD>747949.67000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>City of Middleburg Heights OH</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Capital Area Housing Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Maryland Health &amp; Higher Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Indiana Secondary Market for Education Loans, Inc.</name>
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          <isin value="US45505NAE40"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-01</maturityDt>
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        <name>City &amp; County of Denver CO Airport System Revenue</name>
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        <name>City of Venice FL</name>
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        <name>Wisconsin Housing &amp; Economic Development Authority Housing Revenue</name>
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        <name>Coconino County Pollution Control Corp.</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Knox County Health Educational &amp; Housing Facility Board</name>
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        <name>Union County Hospital Facility Authority</name>
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      <invstOrSec>
        <name>Iowa Student Loan Liquidity Corp.</name>
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          <maturityDt>2032-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
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          <isin value="US45204FSC04"/>
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          <maturityDt>2029-05-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Arkansas Development Finance Authority</name>
        <lei>N/A</lei>
        <title>Arkansas Development Finance Authority</title>
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          <isin value="US04108VBQ68"/>
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        <valUSD>149740.07000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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          <isin value="US364568HW82"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>508065.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morton Road Municipal Utility District</name>
        <lei>N/A</lei>
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          <isin value="US619385FP73"/>
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        <curCd>USD</curCd>
        <valUSD>264009.14000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arkansas Development Finance Authority</name>
        <lei>N/A</lei>
        <title>Arkansas Development Finance Authority</title>
        <cusip>04108VBR4</cusip>
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          <isin value="US04108VBR42"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Kentucky Higher Education Student Loan Corp.</name>
        <lei>N/A</lei>
        <title>Kentucky Higher Education Student Loan Corp.</title>
        <cusip>49130NEG0</cusip>
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          <isin value="US49130NEG07"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2023150.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Duluth Economic Development Authority</name>
        <lei>N/A</lei>
        <title>Duluth Economic Development Authority</title>
        <cusip>26444VAD2</cusip>
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          <isin value="US26444VAD29"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>398212.36000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Louisa Industrial Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US546068AV95"/>
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          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Michigan Strategic Fund</name>
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          <maturityDt>2028-12-31</maturityDt>
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      <invstOrSec>
        <name>Kentucky Higher Education Student Loan Corp.</name>
        <lei>N/A</lei>
        <title>Kentucky Higher Education Student Loan Corp.</title>
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          <isin value="US49130NEK19"/>
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          <maturityDt>2029-06-01</maturityDt>
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        <name>City of San Antonio TX Airport System</name>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <name>New Jersey Higher Education Student Assistance Authority</name>
        <lei>5493007OOYUHTF8GSL63</lei>
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          <maturityDt>2025-12-01</maturityDt>
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      <invstOrSec>
        <name>Build NYC Resource Corp.</name>
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          <maturityDt>2027-07-01</maturityDt>
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          <annualizedRt>3.40000000</annualizedRt>
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        <name>Wisconsin Center District</name>
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        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
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        <name>Texas Municipal Gas Acquisition &amp; Supply Corp. V</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Overland Park Development Corp.</name>
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        <name>Peoria Public Building Commission</name>
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          <maturityDt>2025-12-01</maturityDt>
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        <name>Memorial City Redevelopment Authority</name>
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        <name>Vermont Student Assistance Corp.</name>
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        <name>North Carolina State Education Assistance Authority</name>
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        <name>Saginaw Hospital Finance Authority</name>
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        <name>Northern Illinois University</name>
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        <name>Ohio Higher Educational Facility Commission</name>
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        <name>Indianapolis Local Public Improvement Bond Bank</name>
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      <invstOrSec>
        <name>New Hampshire Health and Education Facilities Authority Act</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-01</maturityDt>
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      <invstOrSec>
        <name>Oregon State Facilities Authority</name>
        <lei>N/A</lei>
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          <isin value="US68608JYB15"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Memphis Arena Public Building Authority</name>
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          <isin value="US64704CAV00"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Finance Authority of Maine</name>
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          <isin value="US56042TDR68"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
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          <isin value="US57584YRR26"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Florida Higher Educational Facilities Financial Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mission Economic Development Corp.</name>
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          <isin value="US605155BV19"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Greater Orlando Aviation Authority</name>
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          <maturityDt>2034-10-01</maturityDt>
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        <name>Public Finance Authority</name>
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        <name>Wisconsin Center District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-15</maturityDt>
          <couponKind>None</couponKind>
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        <name>Public Finance Authority</name>
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        <name>Black Belt Energy Gas District</name>
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        <name>Berks County Municipal Authority (The)</name>
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        <name>Utah Housing Corp.</name>
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      <invstOrSec>
        <name>Massachusetts Housing Finance Agency</name>
        <lei>549300NLJBK1VP6K2K81</lei>
        <title>Massachusetts Housing Finance Agency</title>
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        <name>Arlington Housing Finance Corp.</name>
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        <name>Allentown City School District</name>
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        <name>Southeast Energy Authority A Cooperative District</name>
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        <name>Vermont Student Assistance Corp.</name>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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          <isin value="US45471ASN36"/>
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        <valUSD>797991.38000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Omaha Airport Authority</name>
        <lei>N/A</lei>
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          <isin value="US681725MR55"/>
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        <curCd>USD</curCd>
        <valUSD>2586957.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
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          <isin value="US57584YRP69"/>
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        <valUSD>479098.02000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>St Johns County Industrial Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US79041LAE83"/>
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        <curCd>USD</curCd>
        <valUSD>178367.74000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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          <isin value="US364568HX65"/>
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        <curCd>USD</curCd>
        <valUSD>513655.25000000</valUSD>
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        <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>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13058TLR9</cusip>
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          <isin value="US13058TLR94"/>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>335212.99000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Michigan Strategic Fund</name>
        <lei>N/A</lei>
        <title>Michigan Strategic Fund</title>
        <cusip>594698TD4</cusip>
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          <isin value="US594698TD45"/>
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        <balance>10750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10674138.33000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Omaha Airport Authority</name>
        <lei>N/A</lei>
        <title>Omaha Airport Authority, Series 2024</title>
        <cusip>681725MY0</cusip>
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          <isin value="US681725MY07"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1605024.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>University of Puerto Rico</name>
        <lei>N/A</lei>
        <title>University of Puerto Rico</title>
        <cusip>914811PX6</cusip>
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          <isin value="US914811PX62"/>
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        <balance>245000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>245271.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority</name>
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          <isin value="US19648FKC76"/>
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        <balance>2160000.00000000</balance>
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        <valUSD>2206897.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Regional Transportation District</name>
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        <cusip>759151BB8</cusip>
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          <isin value="US759151BB87"/>
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        <balance>600000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Mexico Mortgage Finance Authority</name>
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          <isin value="US6472012P67"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2056-03-01</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Connecticut State Higher Education Supplement Loan Authority</name>
        <lei>N/A</lei>
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          <isin value="US207743XB60"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Economic Development Authority</name>
        <lei>5493006JS6QWDVU4R678</lei>
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          <isin value="US6459165G86"/>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>West Virginia Economic Development Authority</name>
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          <maturityDt>2025-10-01</maturityDt>
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        <name>Glendale Industrial Development Authority</name>
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          <isin value="US378286JX72"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Shawnee KS</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <name>Raleigh Durham Airport Authority</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <name>Florida Development Finance Corp.</name>
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          <isin value="US74442EKJ81"/>
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      <invstOrSec>
        <name>Lakewood Ranch Stewardship District</name>
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          <isin value="US51265KFF03"/>
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        <curCd>USD</curCd>
        <valUSD>505237.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>Vermont Student Assistance Corp.</name>
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          <isin value="US92428CMJ08"/>
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        <valUSD>141798.54000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Jersey Higher Education Student Assistance Authority</name>
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          <isin value="US646080VL29"/>
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        <curCd>USD</curCd>
        <valUSD>341575.08000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alabama Community College System</name>
        <lei>N/A</lei>
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          <isin value="US01025PEZ27"/>
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        <curCd>USD</curCd>
        <valUSD>1248753.30000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>St Lawrence County Industrial Development Agency</name>
        <lei>N/A</lei>
        <title>St Lawrence County Industrial Development Agency</title>
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          <isin value="US791078DS48"/>
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        <curCd>USD</curCd>
        <valUSD>134968.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.95000000</annualizedRt>
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      <invstOrSec>
        <name>State of New York Mortgage Agency</name>
        <lei>N/A</lei>
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          <isin value="US64988YPR26"/>
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        <curCd>USD</curCd>
        <valUSD>2089439.07000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vermont Student Assistance Corp.</name>
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        <cusip>92428CLV4</cusip>
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          <isin value="US92428CLV45"/>
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        <curCd>USD</curCd>
        <valUSD>1488884.65000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Minnesota Office of Higher Education</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chatom Industrial Development Board</name>
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          <isin value="US16229PAW59"/>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-15</maturityDt>
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        <name>Glendale Industrial Development Authority</name>
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          <maturityDt>2027-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
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          <isin value="US57584YPT00"/>
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        <name>New Jersey Health Care Facilities Financing Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Massachusetts Housing Finance Agency</name>
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        <name>Regional Transportation District</name>
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      <invstOrSec>
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        <name>Michigan State Housing Development Authority</name>
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      <invstOrSec>
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        <name>Newport Township Fire Protection District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Vermont Student Assistance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-15</maturityDt>
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        <name>Antonio B Won Pat International Airport Authority</name>
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        <invCountry>GU</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
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        <name>New Hampshire Health and Education Facilities Authority Act</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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        <name>California School Finance Authority</name>
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        <name>Madison County Community Unit School District No. 7 Edwardsville</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Illinois Finance Authority</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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      <invstOrSec>
        <name>Rhode Island Student Loan Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Indianapolis Local Public Improvement Bond Bank</name>
        <lei>549300LX8ESJHDSESB87</lei>
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          <isin value="US45528U6U04"/>
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        <curCd>USD</curCd>
        <valUSD>1040530.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Economic Development Authority</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>New Jersey Economic Development Authority</title>
        <cusip>64577BK29</cusip>
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          <isin value="US64577BK296"/>
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        <balance>1610000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1612310.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Missouri Joint Municipal Electric Utility Commission</name>
        <lei>N/A</lei>
        <title>Missouri Joint Municipal Electric Utility Commission, Series 2015 A</title>
        <cusip>606092JZ8</cusip>
        <identifiers>
          <isin value="US606092JZ86"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5006276.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vauxmont Metropolitan District</name>
        <lei>549300M7XL6MB0OW8D56</lei>
        <title>Vauxmont Metropolitan District</title>
        <cusip>92242SAE3</cusip>
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          <isin value="US92242SAE37"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>126327.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Ohio WV</name>
        <lei>N/A</lei>
        <title>County of Ohio, Series 2024</title>
        <cusip>677321BK6</cusip>
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          <isin value="US677321BK69"/>
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        <balance>505000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>513435.67000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pennsylvania Housing Finance Agency</name>
        <lei>549300JZVUPNWP77SP29</lei>
        <title>Pennsylvania Housing Finance Agency</title>
        <cusip>70879QDC4</cusip>
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          <isin value="US70879QDC42"/>
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        <balance>1835000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1837950.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Texas Public Finance Authority</name>
        <lei>N/A</lei>
        <title>Texas Public Finance Authority</title>
        <cusip>88277PAE5</cusip>
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          <isin value="US88277PAE51"/>
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        <balance>395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>399075.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pequea Valley School District</name>
        <lei>N/A</lei>
        <title>Pequea Valley School District</title>
        <cusip>713537MQ8</cusip>
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          <isin value="US713537MQ89"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100012.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Higher Education Student Assistance Authority</name>
        <lei>5493007OOYUHTF8GSL63</lei>
        <title>New Jersey Higher Education Student Assistance Authority</title>
        <cusip>646080VB4</cusip>
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          <isin value="US646080VB47"/>
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        <balance>2600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2616351.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kentucky Public Energy Authority</name>
        <lei>549300XEJZWHYSY4SL55</lei>
        <title>Kentucky Public Energy Authority</title>
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          <isin value="US74440DBR44"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5001758.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.99999964</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>Massachusetts Development Finance Agency</title>
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          <isin value="US57584XL582"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Monroe County Industrial Development Corp. NY</name>
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        <title>Monroe County Industrial Development Corp.</title>
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          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Hazleton Area School District</name>
        <lei>N/A</lei>
        <title>Hazleton Area School District</title>
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          <maturityDt>2026-03-01</maturityDt>
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          <annualizedRt>1.22900000</annualizedRt>
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      <invstOrSec>
        <name>Connecticut State Higher Education Supplement Loan Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles County Development Authority</name>
        <lei>N/A</lei>
        <title>Los Angeles County Development Authority</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2043-07-01</maturityDt>
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        <name>West Virginia Economic Development Authority</name>
        <lei>549300WW88TKKF5H1220</lei>
        <title>West Virginia Economic Development Authority</title>
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        <balance>7535000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Miami-Dade County Housing Finance Authority</name>
        <lei>N/A</lei>
        <title>Miami-Dade County Housing Finance Authority, Series 2023</title>
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          <isin value="US593344BR49"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Chicago IL</name>
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        <curCd>USD</curCd>
        <valUSD>3107804.10000000</valUSD>
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      <invstOrSec>
        <name>Matagorda County Navigation District No. 1</name>
        <lei>N/A</lei>
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          <annualizedRt>2.60000000</annualizedRt>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Economic Development Authority</name>
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        <curCd>USD</curCd>
        <valUSD>1622381.25000000</valUSD>
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        <debtSec>
          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority</title>
        <cusip>13058TCJ7</cusip>
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          <isin value="US13058TCJ79"/>
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        <balance>580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>562536.84000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</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>TSASC, Inc. NY</name>
        <lei>N/A</lei>
        <title>TSASC, Inc.</title>
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          <isin value="US898526EV68"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1538610.15000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US63610TAC09"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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="US88283NAB82"/>
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        <curCd>USD</curCd>
        <valUSD>422447.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>County of Washoe NV</name>
        <lei>N/A</lei>
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          <isin value="US940865BH01"/>
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        <balance>1275000.00000000</balance>
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        <valUSD>1279750.78000000</valUSD>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
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        <name>Vermont Student Assistance Corp.</name>
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        <name>Texas Municipal Gas Acquisition &amp; Supply Corp. IV</name>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Kentucky Higher Education Student Loan Corp.</name>
        <lei>N/A</lei>
        <title>Kentucky Higher Education Student Loan Corp.</title>
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          <maturityDt>2026-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Massachusetts Educational Financing Authority</name>
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        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Texas Municipal Gas Acquisition and Supply Corp. II</name>
        <lei>8E22IH4TQD26WYDGHB25</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
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          <isin value="US64542UGT51"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Minnesota Office of Higher Education</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Florida Housing Finance Corp.</name>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US130493CB38"/>
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          <maturityDt>2028-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chicago Board of Education</name>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Michigan Finance Authority</name>
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          <isin value="US59447TU506"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
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          <annualizedRt>1.20000000</annualizedRt>
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        <name>Pennsylvania Housing Finance Agency</name>
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        <title>Pennsylvania Housing Finance Agency</title>
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          <isin value="US70879QMF71"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Tulsa Airports Improvement Trust</name>
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        <title>Tulsa Airports Improvement Trust</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Hazleton Area School District</name>
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          <isin value="US422002QJ70"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <name>Newport Township Fire Protection District</name>
        <lei>N/A</lei>
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          <isin value="US652394AG20"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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        <name>City of Atlanta GA Department of Aviation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Overland Park Development Corp.</name>
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        <name>Florida Housing Finance Corp.</name>
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        <name>Village Community Development District No. 15</name>
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        <name>Vermont Student Assistance Corp.</name>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <name>Syracuse Regional Airport Authority</name>
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        <name>City of Los Angeles Department of Airports</name>
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      <invstOrSec>
        <name>Florida Housing Finance Corp.</name>
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      <invstOrSec>
        <name>Overland Park Development Corp.</name>
        <lei>N/A</lei>
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          <isin value="US690278BS42"/>
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      <invstOrSec>
        <name>City of Hazard KY</name>
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          <maturityDt>2025-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky Higher Education Student Loan Corp.</name>
        <lei>N/A</lei>
        <title>Kentucky Higher Education Student Loan Corp.</title>
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          <isin value="US49130NFF15"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>West Virginia Economic Development Authority</name>
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          <isin value="US95648VBL27"/>
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        <fairValLevel>2</fairValLevel>
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        <name>School District of Philadelphia (The)</name>
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          <isin value="US717883ZY10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>County of Miami-Dade Seaport Department</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
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        <name>Jersey City Redevelopment Agency</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2025-12-11</maturityDt>
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        <name>Allentown City School District</name>
        <lei>N/A</lei>
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        <name>Vermont Student Assistance Corp.</name>
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        <name>Indiana Finance Authority</name>
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        <name>Greater Asheville Regional Airport Authority</name>
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        <name>Metropolitan Washington Airports Authority Aviation Revenue</name>
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        <name>Massachusetts Port Authority</name>
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        <name>Illinois Finance Authority</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Virginia Beach Development Authority</name>
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      <invstOrSec>
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          <isin value="US130493CA54"/>
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      <invstOrSec>
        <name>Magnolia Pointe Municipal Utility District No. 1</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rhode Island Student Loan Authority</name>
        <lei>N/A</lei>
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          <isin value="US762315QY80"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>DeKalb County Housing Authority</name>
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          <isin value="US240471PJ53"/>
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          <maturityDt>2025-09-01</maturityDt>
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          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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          <isin value="US97712JHA43"/>
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        <curCd>USD</curCd>
        <valUSD>507577.27000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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          <isin value="US74529JQF56"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Lancaster City Parking Authority</name>
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          <isin value="US514372KY65"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>School District of Philadelphia (The)</name>
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        <curCd>USD</curCd>
        <valUSD>1917384.22000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>King County Housing Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Vermont Student Assistance Corp.</name>
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        <name>Wyoming Community Development Authority</name>
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        <name>Brazos Higher Education Authority, Inc.</name>
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        <name>Indiana Secondary Market for Education Loans, Inc.</name>
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        <name>Palm Beach County Health Facilities Authority</name>
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        <name>Port of Portland OR Airport Revenue</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Rhode Island Student Loan Authority</name>
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        <name>Black Belt Energy Gas District</name>
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        <name>Illinois Finance Authority</name>
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        <name>Plaza at Noah's Ark Community Improvement District</name>
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        <name>New York City Housing Development Corp.</name>
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        <name>Puerto Rico Housing Finance Authority</name>
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        <name>University of West Alabama</name>
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        <name>Overland Park Development Corp.</name>
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        <name>Tennessee Energy Acquisition Corp.</name>
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        <name>Northern Illinois University</name>
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        <name>Chicago Board of Education</name>
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      <invstOrSec>
        <name>Allegheny County Airport Authority</name>
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        <name>Colorado Health Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-11-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>New York State Dormitory Authority</name>
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          <isin value="US65000B4K11"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Industrial Development Board of the City of Mobile Alabama</name>
        <lei>N/A</lei>
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          <isin value="US607167DZ31"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-01</maturityDt>
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          <annualizedRt>1.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>District of Columbia Housing Finance Agency</name>
        <lei>N/A</lei>
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          <isin value="US25477PQB49"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-01</maturityDt>
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          <annualizedRt>3.55000000</annualizedRt>
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        <name>South Dakota Housing Development Authority</name>
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        <title>South Dakota Housing Development Authority, Series 2025 A</title>
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          <isin value="US83756LBS34"/>
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        <balance>6250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7038233.13000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-11-01</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>New Jersey Housing &amp; Mortgage Finance Agency</name>
        <lei>5493002ONULJL0FIGU24</lei>
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          <isin value="US6461085R78"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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        <name>City of Houston TX Airport System Revenue</name>
        <lei>N/A</lei>
        <title>City of Houston TX Airport System Revenue</title>
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          <isin value="US442349CA26"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>North Carolina State Education Assistance Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Main Street Natural Gas, Inc.</name>
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        <title>Main Street Natural Gas, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000040</annualizedRt>
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        <name>City of Irving TX</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>Massachusetts Development Finance Agency</title>
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          <isin value="US57584YPU72"/>
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        <name>Wisconsin Center District</name>
        <lei>N/A</lei>
        <title>Wisconsin Center District</title>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>County of Ohio WV</name>
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        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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        <name>New Mexico Mortgage Finance Authority</name>
        <lei>N/A</lei>
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        <name>Southeast Energy Authority A Cooperative District</name>
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      <invstOrSec>
        <name>City of Salt Lake City UT Airport Revenue</name>
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        <name>Park Creek Metropolitan District</name>
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          <isin value="US700387EC34"/>
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          <maturityDt>2027-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Development Authority of Burke County (The)</name>
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          <isin value="US121342QG70"/>
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        <valUSD>753838.50000000</valUSD>
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          <maturityDt>2032-10-01</maturityDt>
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          <annualizedRt>3.80000000</annualizedRt>
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        <name>Rhode Island Student Loan Authority</name>
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          <isin value="US762323AZ61"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Main Street Natural Gas, Inc.</name>
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        <title>Main Street Natural Gas, Inc.</title>
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          <isin value="US56035DEN84"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-06-01</maturityDt>
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          <annualizedRt>5.00000040</annualizedRt>
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        <name>Lycoming County Authority</name>
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          <isin value="US550802KL56"/>
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        <balance>500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <valUSD>818517.30000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Missouri Development Finance Board</name>
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        <title>Missouri Development Finance Board</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-03-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>North Carolina Medical Care Commission</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Economic Development Authority</name>
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          <maturityDt>2025-12-01</maturityDt>
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        <name>North Carolina Turnpike Authority</name>
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        <name>State of Hawaii Harbor System Revenue</name>
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        <name>City of Irving TX</name>
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        <name>Main Street Natural Gas, Inc.</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
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        <name>Atlanta Development Authority (The)</name>
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        <name>Industrial Development Authority of the County of Pima (The)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vancouver Housing Authority</name>
        <lei>N/A</lei>
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          <isin value="US921626PT84"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Alabama Docks Department</name>
        <lei>N/A</lei>
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          <isin value="US010604BX33"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Pennsylvania Higher Education Assistance Agency</name>
        <lei>N/A</lei>
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          <isin value="US70878CAH88"/>
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        <curCd>USD</curCd>
        <valUSD>479542.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Columbus Metropolitan Housing Authority</name>
        <lei>N/A</lei>
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          <isin value="US199518AQ47"/>
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        <curCd>USD</curCd>
        <valUSD>1958407.67000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
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        <cusip>452017AD8</cusip>
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          <isin value="US452017AD82"/>
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        <balance>195000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>204794.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Rhode Island Housing &amp; Mortgage Finance Corp.</name>
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        <title>Rhode Island Housing &amp; Mortgage Finance Corp., Series 2025 1-A</title>
        <cusip>76221SJS1</cusip>
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          <isin value="US76221SJS14"/>
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        <balance>2550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2524696.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.35000000</annualizedRt>
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      <invstOrSec>
        <name>Texas State Affordable Housing Corp.</name>
        <lei>N/A</lei>
        <title>Texas State Affordable Housing Corp., Series 2023</title>
        <cusip>88271FFQ1</cusip>
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          <isin value="US88271FFQ19"/>
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        <balance>2100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2110838.94000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Cuyahoga OH</name>
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          <isin value="US2322655G95"/>
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        <valUSD>2015626.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Regional Transportation District</name>
        <lei>N/A</lei>
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        <cusip>759151AX1</cusip>
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          <isin value="US759151AX17"/>
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        <balance>400000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
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          <isin value="US57584YPV55"/>
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        <valUSD>1015027.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>Union County Hospital Facility Authority</name>
        <lei>N/A</lei>
        <title>Union County Hospital Facility Authority</title>
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          <isin value="US906420BR40"/>
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          <maturityDt>2027-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
        <lei>549300ROY505NVTMMI25</lei>
        <title>Tarrant County Cultural Education Facilities Finance Corp.</title>
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          <isin value="US87638RFL69"/>
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        <name>Escambia County Housing Finance Authority</name>
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          <isin value="US296121FQ45"/>
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          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>Toll Road Investors Partnership II LP</name>
        <lei>N/A</lei>
        <title>Toll Road Investors Partnership II LP</title>
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        <assetCat>DBT</assetCat>
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        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
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        <name>City of Manhattan KS</name>
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          <isin value="US563017DY54"/>
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        <balance>330000.00000000</balance>
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          <maturityDt>2027-06-01</maturityDt>
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        <name>Vermont Student Assistance Corp.</name>
        <lei>549300VHYVRSKNFRSZ91</lei>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Illinois Sports Facilities Authority (The)</name>
        <lei>N/A</lei>
        <title>Illinois Sports Facilities Authority (The)</title>
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        <balance>965000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>North Carolina State Education Assistance Authority</name>
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        <name>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-04-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>City of Houston TX Airport System Revenue</name>
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          <maturityDt>2027-07-15</maturityDt>
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        <name>Chicago Board of Education</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
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        <name>Brazos Higher Education Authority, Inc.</name>
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          <isin value="US10623ACS06"/>
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          <maturityDt>2045-04-01</maturityDt>
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        <name>Greater Asheville Regional Airport Authority</name>
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        <name>Florida Housing Finance Corp.</name>
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        <name>Toll Road Investors Partnership II LP</name>
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        <name>New York State Housing Finance Agency</name>
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        <name>Utah Housing Corp.</name>
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        <name>Northern Illinois University</name>
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        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
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        <name>Public Finance Authority</name>
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      <invstOrSec>
        <name>Dallas Area Municipal Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Brazos Higher Education Authority, Inc.</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>New Mexico Hospital Equipment Loan Council</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Texas Municipal Gas Acquisition &amp; Supply Corp. III</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-15</maturityDt>
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      <invstOrSec>
        <name>State of New York Mortgage Agency</name>
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          <isin value="US64988RFN70"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Greater Orlando Aviation Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Union County Hospital Facility Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago Board of Education</name>
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        <name>Public Finance Authority</name>
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        <name>Illinois Finance Authority</name>
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        <name>Rochester Area School District</name>
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        <name>Port of Seattle WA</name>
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        <name>Hammond Multi-School Building Corp.</name>
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        <name>Southeast Energy Authority A Cooperative District</name>
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        <name>Illinois Finance Authority</name>
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        <name>Wisconsin Center District</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>Pennsylvania Economic Development Financing Authority</name>
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        <name>Ohio Housing Finance Agency</name>
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        <name>Idaho Health Facilities Authority</name>
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        <name>Metropolitan Nashville Airport Authority (The)</name>
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          <isin value="US592190QM77"/>
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      <invstOrSec>
        <name>Doylestown Hospital Authority</name>
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          <maturityDt>2031-07-01</maturityDt>
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        <name>City of Chicago IL</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Rhode Island Student Loan Authority</name>
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          <isin value="US762323CZ44"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Middleton Community Development District A</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-05-01</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Miami-Dade County Housing Finance Authority</name>
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          <maturityDt>2026-09-01</maturityDt>
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        <name>City of Dallas Housing Finance Corp.</name>
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          <maturityDt>2044-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>Rhode Island Student Loan Authority</name>
        <lei>N/A</lei>
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        <name>Illinois Finance Authority</name>
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        <name>Northeast Ohio Medical University</name>
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        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
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        <name>City of Whiting IN</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>Pennsylvania Housing Finance Agency</name>
        <lei>549300JZVUPNWP77SP29</lei>
        <title>Pennsylvania Housing Finance Agency</title>
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          <isin value="US70879QMH38"/>
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        <balance>2250000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Newark Housing Authority</name>
        <lei>N/A</lei>
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          <isin value="US65038HAF82"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2025-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US04052BNA88"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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          <isin value="US45470ECY95"/>
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        <curCd>USD</curCd>
        <valUSD>3403625.26000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oklahoma Turnpike Authority</name>
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          <isin value="US679111F332"/>
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        <curCd>USD</curCd>
        <valUSD>1780487.61000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mississippi Hospital Equipment &amp; Facilities Authority</name>
        <lei>549300DW2GVUIGE04396</lei>
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          <isin value="US605360TQ90"/>
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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>2028-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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          <isin value="US544445BQ17"/>
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        <valUSD>1368283.32000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York City Housing Development Corp.</name>
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        <title>New York City Housing Development Corp.</title>
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          <isin value="US64972EVM82"/>
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        <balance>3305000.00000000</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>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.10000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Public Finance Authority</name>
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        <title>Public Finance Authority</title>
        <cusip>74442CCP7</cusip>
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          <isin value="US74442CCP77"/>
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        <curCd>USD</curCd>
        <valUSD>944247.87000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Viridian Municipal Management District</name>
        <lei>N/A</lei>
        <title>Viridian Municipal Management District</title>
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          <isin value="US92823PMY96"/>
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        <curCd>USD</curCd>
        <valUSD>586111.84000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Montgomery County Higher Education and Health Authority</name>
        <lei>N/A</lei>
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          <maturityDt>2029-09-01</maturityDt>
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        <name>Lancaster City Parking Authority</name>
        <lei>N/A</lei>
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          <isin value="US514372KA89"/>
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          <maturityDt>2030-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Chester County Health and Education Facilities Authority</name>
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          <maturityDt>2028-12-01</maturityDt>
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        <name>New York State Housing Finance Agency</name>
        <lei>5493000LS7KCDB02O506</lei>
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          <isin value="US64987JA358"/>
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          <maturityDt>2062-11-01</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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        <name>Rhode Island Student Loan Authority</name>
        <lei>N/A</lei>
        <title>Rhode Island Student Loan Authority</title>
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          <isin value="US762315RG65"/>
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          <maturityDt>2028-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>North Carolina Medical Care Commission</name>
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          <maturityDt>2030-03-01</maturityDt>
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      <invstOrSec>
        <name>Arkansas Development Finance Authority</name>
        <lei>N/A</lei>
        <title>Arkansas Development Finance Authority</title>
        <cusip>04084RCA7</cusip>
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          <isin value="US04084RCA77"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2044-09-01</maturityDt>
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          <annualizedRt>5.00000040</annualizedRt>
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        <name>New Jersey Building Authority</name>
        <lei>549300YJLPPJFRLYB368</lei>
        <title>New Jersey Building Authority</title>
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          <isin value="US645771YU47"/>
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        <balance>795000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2025-06-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lincoln Consolidated School District</name>
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        <name>Dekalb County Central School Building Corp.</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Palm Beach County Health Facilities Authority</name>
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        <name>Chicago Midway International Airport</name>
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        <name>Chicago Board of Education</name>
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        <name>Pennsylvania Economic Development Financing Authority Parking System Revenue</name>
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        <name>Antonio B Won Pat International Airport Authority</name>
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        <name>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>City of San Antonio TX Airport System</name>
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      <invstOrSec>
        <name>Northeast Ohio Medical University</name>
        <lei>N/A</lei>
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          <maturityDt>2030-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Greater Asheville Regional Airport Authority</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US646136ER85"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>None</couponKind>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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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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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Utah Housing Corp.</name>
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          <isin value="US917434DF68"/>
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        <curCd>USD</curCd>
        <valUSD>2005646.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-01</maturityDt>
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          <annualizedRt>3.70000000</annualizedRt>
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      <invstOrSec>
        <name>Delaware Valley Regional Finance Authority</name>
        <lei>549300HGYP3NW885TT18</lei>
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          <isin value="US246579LK03"/>
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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>2029-10-01</maturityDt>
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          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>Rhode Island Student Loan Authority</name>
        <lei>N/A</lei>
        <title>Rhode Island Student Loan Authority</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Brazos Higher Education Authority, Inc.</name>
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        <curCd>USD</curCd>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Colorado Health Facilities Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Maricopa County Industrial Development Authority</name>
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        <title>Maricopa County Industrial Development Authority</title>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <invCountry>US</invCountry>
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        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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        <name>Glendale Industrial Development Authority</name>
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        <name>Miami-Dade County Housing Finance Authority</name>
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          <maturityDt>2026-09-01</maturityDt>
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        <name>Syracuse Regional Airport Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Austin Convention Enterprises, Inc.</name>
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        <name>Public Finance Authority</name>
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        <name>Akron Bath Copley Joint Township Hospital District</name>
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        <name>New York City Housing Development Corp.</name>
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        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>El Rancho Unified School District</name>
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        <name>George L Smith II Congress Center Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
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          <isin value="US45204FRJ65"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ohio Air Quality Development Authority</name>
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          <isin value="US677525WU74"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Greater Asheville Regional Airport Authority</name>
        <lei>N/A</lei>
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          <isin value="US39160CAB37"/>
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        <curCd>USD</curCd>
        <valUSD>752645.48000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Michigan Strategic Fund</name>
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          <isin value="US594698QR67"/>
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        <curCd>USD</curCd>
        <valUSD>2443018.19000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Maricopa County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Maricopa County Industrial Development Authority</title>
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          <isin value="US56681NEE31"/>
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        <curCd>USD</curCd>
        <valUSD>325287.11000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isin value="US71885DCT72"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Houston TX Hotel Occupancy Tax &amp; Special Revenue</name>
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          <isin value="US44237NLH34"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>230453.58000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp.</title>
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          <isin value="US34061UJV17"/>
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        <valUSD>430024.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>La Paz County Industrial Development Authority</name>
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          <isin value="US50376FAQ00"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Illinois Finance Authority</name>
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          <isin value="US45204FSG18"/>
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        <debtSec>
          <maturityDt>2033-05-15</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>Columbus County Industrial Facilities &amp; Pollution Control Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-01</maturityDt>
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        <name>New Jersey Higher Education Student Assistance Authority</name>
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          <maturityDt>2028-12-01</maturityDt>
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        <name>Travis County Housing Finance Corp.</name>
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        <name>Indiana Finance Authority</name>
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        <name>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
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          <isin value="US45204E3E66"/>
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        <name>Washington Higher Education Facilities Authority</name>
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      <invstOrSec>
        <name>Michigan Strategic Fund</name>
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      <invstOrSec>
        <name>Clifton Higher Education Finance Corp.</name>
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        <name>Illinois Finance Authority</name>
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        <name>Kentucky Higher Education Student Loan Corp.</name>
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        <name>Brazos Higher Education Authority, Inc.</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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        <name>Illinois Sports Facilities Authority (The)</name>
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        <name>Oneida County Local Development Corp.</name>
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      <invstOrSec>
        <name>Northern Illinois University</name>
        <lei>N/A</lei>
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        <name>Akron Bath Copley Joint Township Hospital District</name>
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          <isin value="US97689RFF64"/>
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        <name>California Pollution Control Financing Authority</name>
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          <isin value="US130536QR90"/>
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          <maturityDt>2025-07-01</maturityDt>
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        <name>Illinois Finance Authority</name>
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          <isin value="US45204E3F32"/>
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          <maturityDt>2026-07-01</maturityDt>
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      <invstOrSec>
        <name>Columbus Regional Airport Authority</name>
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          <isin value="US199546CP59"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-01</maturityDt>
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        <name>Indiana Finance Authority</name>
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          <isin value="US45506ECB74"/>
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          <maturityDt>2028-11-15</maturityDt>
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          <annualizedRt>3.21000000</annualizedRt>
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        <name>County of Hamilton OH</name>
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        <name>New York State Dormitory Authority</name>
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        <name>Hammond Multi-School Building Corp.</name>
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        <name>Pennsylvania Higher Education Assistance Agency</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>Overland Park Development Corp.</name>
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        <name>Lamar Consolidated Independent School District</name>
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        <name>Industrial Development Authority of the City of Phoenix Arizona (The)</name>
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          <isin value="US71885DCS99"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oneida County Local Development Corp.</name>
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          <isin value="US682440AW21"/>
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          <maturityDt>2027-12-01</maturityDt>
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        <name>County of Ohio WV</name>
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          <isin value="US677321BP56"/>
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          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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          <isin value="US97712DKF23"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Mexico Mortgage Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US64719HEM88"/>
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          <maturityDt>2042-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Illinois Finance Authority</name>
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          <isin value="US452031AE75"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Fairfax County Redevelopment &amp; Housing Authority</name>
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          <isin value="US303833LD78"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>West Virginia Economic Development Authority</name>
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          <isin value="US95648VBH15"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>City of Salt Lake City UT Airport Revenue</name>
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          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Pennsylvania Higher Education Assistance Agency</name>
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        <title>Pennsylvania Higher Education Assistance Agency</title>
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        <name>Columbus Metropolitan Housing Authority</name>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
        <title>New Hope Cultural Education Facilities Finance Corp., Series 2025</title>
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          <isin value="US64542UGV08"/>
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          <maturityDt>2031-11-01</maturityDt>
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        <name>Texas Public Finance Authority</name>
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        <name>Lehigh County General Purpose Authority</name>
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          <maturityDt>2031-02-01</maturityDt>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
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          <isin value="US64542UGP30"/>
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        <name>Kentucky Economic Development Finance Authority</name>
        <lei>N/A</lei>
        <title>Kentucky Economic Development Finance Authority</title>
        <cusip>49126KJT9</cusip>
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          <isin value="US49126KJT97"/>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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          <isin value="US5444452M00"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</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>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3J4</cusip>
        <identifiers>
          <isin value="US74514L3J47"/>
        </identifiers>
        <balance>1521000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1612541.54000000</valUSD>
        <pctVal>0.061347542125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Colorado Health Facilities Authority</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority, Series 2019B</title>
        <cusip>19648FXC3</cusip>
        <identifiers>
          <isin value="US19648FXC30"/>
        </identifiers>
        <balance>17720000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18030314.41000000</valUSD>
        <pctVal>0.685945413099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63608SAE2</cusip>
        <identifiers>
          <isin value="US63608SAE28"/>
        </identifiers>
        <balance>265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>263920.36000000</valUSD>
        <pctVal>0.010040588103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="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>2025-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>MFS Series Trust IX</ncom:nameOfApplicant>
      <ncom:signature>James Byrne</ncom:signature>
      <ncom:signerName>James Byrne</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
