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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>WISCONSIN ST HEALTH &amp; EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>WISCONSIN ST HLTH &amp; EDUCTNL FA WISCONSIN HEALTH &amp; EDUCATIONAL FACILITIES AUTHORIT</title>
        <cusip>97712DP75</cusip>
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          <isin value="US97712DP758"/>
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        <curCd>USD</curCd>
        <valUSD>1196088.60000000</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>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
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        <cusip>48128BAN1</cusip>
        <identifiers>
          <isin value="US48128BAN10"/>
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        <balance>2300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2242977.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MONTGOMERY CNTY OHIO SR LIVING REV</name>
        <lei>N/A</lei>
        <title>MONTGOMERY CNTY OH SENIOR LIVI COUNTY OF MONTGOMERY OH</title>
        <cusip>613554AG9</cusip>
        <identifiers>
          <isin value="US613554AG93"/>
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        <balance>1526349.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19079.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PUERTO RICO ELEC PWR AUTH PWR REV</name>
        <lei>N/A</lei>
        <title>PUERTO RICO ELEC PWR AUTH PWRR PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526YFD2</cusip>
        <identifiers>
          <isin value="US74526YFD22"/>
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        <balance>2605000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1263425.00000000</valUSD>
        <pctVal>0.149859487049</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CALIFORNIA SCH FIN AUTH CHARTER SCH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST SCH FIN AUTH CHR CALIFORNIA SCHOOL FINANCE AUTHORITY</title>
        <cusip>13058TDR8</cusip>
        <identifiers>
          <isin value="US13058TDR86"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>600000.00000000</valUSD>
        <pctVal>0.071168207237</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED</name>
        <lei>N/A</lei>
        <title>AUSTRALIA &amp; NEW ZEALAND BANKING GROUP LTD/UNITED K 6.750000% MATURITY: PERPETUAL</title>
        <cusip>05254HAA2</cusip>
        <identifiers>
          <isin value="US05254HAA23"/>
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        <balance>6900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6957125.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>ANZ 6.75 PERP</title>
              <curCd>AUD</curCd>
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          <currencyInfos>
            <currencyInfo convRatio="0.00000000" curCd="AUD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY N Y DEV CORP REV</name>
        <lei>N/A</lei>
        <title>LIBERTY DEV CORP NY REVENUE NEW YORK LIBERTY DEVELOPMENT CORP</title>
        <cusip>531127CM8</cusip>
        <identifiers>
          <isin value="US531127CM87"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1128927.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>METLIFE, INC.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc PREFERRED STOCK</title>
        <cusip>59156R876</cusip>
        <identifiers>
          <isin value="US59156R8768"/>
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        <balance>7914.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>184475.34000000</valUSD>
        <pctVal>0.021881298712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PORT ISABEL TEX</name>
        <lei>N/A</lei>
        <title>PORT ISABEL TX CITY OF PORT ISABEL TX</title>
        <cusip>734523DV2</cusip>
        <identifiers>
          <isin value="US734523DV28"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>925676.30000000</valUSD>
        <pctVal>0.109797871255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VILLAGE CMNTY DEV DIST NO 15 FLA SPL ASSMT REV</name>
        <lei>N/A</lei>
        <title>VILLAGE CDD NO 15 SPL ASSMNT R VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO 15</title>
        <cusip>92708KAK3</cusip>
        <identifiers>
          <isin value="US92708KAK34"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>916434.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HUNTINGTON BANCSHARES INCORPORATED</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>HUNTINGTON BANCSHARES INC/OH 4.450000% MATURITY: PERPETUAL</title>
        <cusip>446150AV6</cusip>
        <identifiers>
          <isin value="US446150AV63"/>
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        <balance>5648000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5480388.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PENNSYLVANIA ECONOMIC DEV FING AUTH PRIVATE ACTIVITY REV</name>
        <lei>N/A</lei>
        <title>PENNSYLVANIA ST ECON DEV FING PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHOR</title>
        <cusip>70868YAW9</cusip>
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          <isin value="US70868YAW93"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4877620.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV</name>
        <lei>N/A</lei>
        <title>BLACK BELT ENERGY GAS DIST AL BLACK BELT ENERGY GAS DISTRICT</title>
        <cusip>09182TCR6</cusip>
        <identifiers>
          <isin value="US09182TCR68"/>
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        <curCd>USD</curCd>
        <valUSD>2198236.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ATLANTIC BEACH FLA HEALTH CARE FACS REV</name>
        <lei>N/A</lei>
        <title>ATLANTIC BEACH FL HLTH CARE FA CITY OF ATLANTIC BEACH FL</title>
        <cusip>048251BR2</cusip>
        <identifiers>
          <isin value="US048251BR29"/>
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        <balance>1325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1325116.87000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KALISPELL MONT HSG &amp; HEALTHCARE FACS REV</name>
        <lei>N/A</lei>
        <title>KALISPELL MT HSG &amp; HLTHCARE FA CITY OF KALISPELL MT</title>
        <cusip>48342YAS0</cusip>
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          <isin value="US48342YAS00"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1297417.95000000</valUSD>
        <pctVal>0.153891515899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EQUITABLE HOLDINGS, INC.</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc PREFERRED STOCK</title>
        <cusip>29452E200</cusip>
        <identifiers>
          <isin value="US29452E2000"/>
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        <balance>24094.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>475856.50000000</valUSD>
        <pctVal>0.056443090012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THE BANK OF NOVA SCOTIA</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
        <title>BANK OF NOVA SCOTIA/THE 8.625000% 10/27/2082</title>
        <cusip>0641598S8</cusip>
        <identifiers>
          <isin value="US0641598S88"/>
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        <balance>3200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US48542RCA05"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>VIRGINIA SMALL BUSINESS FING AUTH PRIVATE ACTIVITY REV</name>
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          <isin value="US928097AB03"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>POLK CNTY FLA INDL DEV AUTH INDL DEV REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ING Groep N.V.</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>FARMS NEW KENT VA CMNTY DEV AUTH SPL ASSMT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CAPITAL TR AGY FLA REV</name>
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        <name>COLORADO HEALTH FACS AUTH REV</name>
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        <name>WASHINGTON ST HSG FIN COMMN</name>
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        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BRAZORIA CNTY TEX INDL DEV CORP SOLID WASTE DISP FACS REV</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corporation</name>
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        <title>FREDDIE MAC STRUCTURED PASS TH FREDDIE MAC MULTIFAMILY ML CERTIFICATES</title>
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        <name>PAYNE CNTY OKLA ECONOMIC DEV AUTH REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RENAISSANCERE HOLDINGS LTD.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>THE GOLDMAN SACHS GROUP, INC.</name>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WIS REV</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BP CAPITAL MARKETS P.L.C.</name>
        <lei>549300CRVT18MXX0AG93</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2173-06-18</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMILY ML CERTIFICATES FRETE 2023-ML17 A</title>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>PAYNE CNTY OKLA ECONOMIC DEV AUTH REV</name>
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        <title>PAYNE CNTY OK ECON DEV AUTH RE PAYNE COUNTY ECONOMIC DEVELOPMENT AUTHORITY</title>
        <cusip>704387AG4</cusip>
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          <isin value="US704387AG44"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TOBACCO SETTLEMENT FING CORP N J</name>
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        <title>TOBACCO SETTLEMENT FING CORP N TOBACCO SETTLEMENT FINANCING CORP</title>
        <cusip>888808HT2</cusip>
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          <isin value="US888808HT28"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>NSTAR ELECTRIC COMPANY</name>
        <lei>54930080R72Y2Z31UR68</lei>
        <title>NSTAR Electric Co PREFERRED STOCK</title>
        <cusip>67021C305</cusip>
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        <valUSD>845932.00000000</valUSD>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>VOYA FINANCIAL, INC.</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>Voya Financial Inc PREFERRED STOCK</title>
        <cusip>929089209</cusip>
        <identifiers>
          <isin value="US9290892093"/>
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        <balance>94605.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2281872.60000000</valUSD>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>WEBSTER FINANCIAL CORPORATION</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
        <title>Webster Financial Corp PREFERRED STOCK</title>
        <cusip>947890505</cusip>
        <identifiers>
          <isin value="US9478905055"/>
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        <balance>42631.00000000</balance>
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        <valUSD>772473.72000000</valUSD>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>CALIFORNIA SCH FIN AUTH CHARTER SCH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST SCH FIN AUTH CHR CALIFORNIA SCHOOL FINANCE AUTHORITY</title>
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          <isin value="US13058TDQ04"/>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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        <name>BERKS CNTY PA MUN AUTH REV</name>
        <lei>N/A</lei>
        <title>BERKS CNTY PA MUNI AUTH BERKS COUNTY MUNICIPAL AUTHORITY/THE</title>
        <cusip>084538JF5</cusip>
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          <isin value="US084538JF58"/>
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        <curCd>USD</curCd>
        <valUSD>303885.61000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>INDIANAPOLIS IND LOC PUB IMPT BD BK</name>
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        <title>INDIANAPOLIS IN LOCAL PUBLIC I INDIANAPOLIS LOCAL PUBLIC IMPROVEMENT BOND BANK</title>
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          <isin value="US45528U6W69"/>
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        <assetCat>DBT</assetCat>
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          <couponKind>Fixed</couponKind>
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        <name>TEXAS MUN GAS ACQUISITION &amp; SUPPLY CORP I GAS SUPPLY REV</name>
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        <title>TEXAS ST MUNI GAS ACQUISITION TEXAS MUNICIPAL GAS ACQUISITION AND SUPPLY CORP I</title>
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          <isin value="US88256CAX74"/>
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        <name>SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH SOLID WASTE DISP REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>TOBACCO SETTLEMENT FING CORP RHODE IS</name>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TOBACCO SECURITIZATION AUTH SOUTHN CALIF TOB SETTLEMENT REV</name>
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        <title>TOBACCO SECURITIZATION AUTH ST TOBACCO SECURITIZATION AUTHORITY OF SOUTHERN CALIF</title>
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        <name>NEW HOPE CULTURAL ED FACS FIN CORP TEX SR LIVING REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WIS RETIREMENT FAC REV</name>
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          <isin value="US74444VAW00"/>
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        <curCd>USD</curCd>
        <valUSD>2119593.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>MAIN STR NAT GAS INC GA GAS SUPPLY REV</name>
        <lei>N/A</lei>
        <title>MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC</title>
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        <identifiers>
          <isin value="US56035DEN84"/>
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        <curCd>USD</curCd>
        <valUSD>2229374.35000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDIANA FIN AUTH MIDWESTERN DISASTER RELIEF REV</name>
        <lei>N/A</lei>
        <title>INDIANA FIN AUTH MIDWESTERN DI INDIANA FINANCE AUTHORITY</title>
        <cusip>45470CAF6</cusip>
        <identifiers>
          <isin value="US45470CAF68"/>
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        <balance>3900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3762703.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>NEW YORK CITY NY TRANSITIONAL NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY FUTUR</title>
        <cusip>64971WUS7</cusip>
        <identifiers>
          <isin value="US64971WUS78"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1000000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.94999935</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BNP PARIBAS SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP PARIBAS SA 144A 9.250000% MATURITY: PERPETUAL</title>
        <cusip>05565AS20</cusip>
        <identifiers>
          <isin value="US05565AS207"/>
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        <balance>2400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2549673.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WIS EDL FAC REV</name>
        <lei>N/A</lei>
        <title>PUBLIC FIN AUTH WI EDUCTNL FAC PUBLIC FINANCE AUTHORITY</title>
        <cusip>74443DFP1</cusip>
        <identifiers>
          <isin value="US74443DFP15"/>
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        <balance>2770000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1707426.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DISTRICT COLUMBIA INCOME TAX REV</name>
        <lei>N/A</lei>
        <title>DIST OF COLUMBIA INCOME TAX SE DISTRICT OF COLUMBIA INCOME TAX REVENUE</title>
        <cusip>25477GYN9</cusip>
        <identifiers>
          <isin value="US25477GYN95"/>
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        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3579491.65000000</valUSD>
        <pctVal>0.424576672588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOBACCO SETTLEMENT FING CORP RHODE IS</name>
        <lei>N/A</lei>
        <title>TOBACCO SETTLEMENT FING CORP R TOBACCO SETTLEMENT FINANCING CORP/RI</title>
        <cusip>888809AH3</cusip>
        <identifiers>
          <isin value="US888809AH36"/>
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        <balance>6890000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1211848.34000000</valUSD>
        <pctVal>0.143741789669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC 4.375000% MATURITY: PERPETUAL</title>
        <cusip>06738EBT1</cusip>
        <identifiers>
          <isin value="US06738EBT10"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2738295.90000000</valUSD>
        <pctVal>0.324799350149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>BARCLAYS PLC</name>
              <title>BARC 4.375 PERP</title>
              <curCd>GBP</curCd>
              <identifiers>
                <isin value="GB0031348658"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MAIN STR NAT GAS INC GA GAS SUPPLY REV</name>
        <lei>N/A</lei>
        <title>MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC</title>
        <cusip>56035DBW1</cusip>
        <identifiers>
          <isin value="US56035DBW11"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>985415.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CLEVELAND TENN HEALTH &amp; EDL FACS BRD MULTIFAMILY HSG REV</name>
        <lei>N/A</lei>
        <title>CLEVELAND TN HLTH &amp; EDUCTNL FA CLEVELAND HEALTH &amp; EDUCATIONAL FACILITIES BOARD</title>
        <cusip>186546AC1</cusip>
        <identifiers>
          <isin value="US186546AC12"/>
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        <balance>995000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>939000.80000000</valUSD>
        <pctVal>0.111378339218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>The Bank of New York Mellon Corporation</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
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        <cusip>064058AJ9</cusip>
        <identifiers>
          <isin value="US064058AJ97"/>
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        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3431636.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REV</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FING COR PUERTO RICO SALES TAX FINANCING CORP SALES TAX REV</title>
        <cusip>74529JQH1</cusip>
        <identifiers>
          <isin value="US74529JQH13"/>
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        <balance>41435000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9721284.96000000</valUSD>
        <pctVal>1.153077371084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARCH CAPITAL GROUP LTD.</name>
        <lei>549300AYR4P8AFKDCE43</lei>
        <title>Arch Capital Group Ltd PREFERRED STOCK</title>
        <cusip>03939A107</cusip>
        <identifiers>
          <isin value="US03939A1079"/>
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        <balance>10784.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>220424.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>POWAY CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>POWAY CA UNIF SCH DIST POWAY UNIFIED SCHOOL DISTRICT</title>
        <cusip>738850RD0</cusip>
        <identifiers>
          <isin value="US738850RD02"/>
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        <balance>5410000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3114227.01000000</valUSD>
        <pctVal>0.369389922055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THE PNC FINANCIAL SERVICES GROUP, INC.</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC FINANCIAL SERVICES GROUP INC/THE 6.250000% MATURITY: PERPETUAL</title>
        <cusip>693475BP9</cusip>
        <identifiers>
          <isin value="US693475BP99"/>
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        <balance>2100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2108198.40000000</valUSD>
        <pctVal>0.250061167715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <name>SOLEIL HILLS PUB INFRASTRUCTURE DIST NO 1 UTAH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANQUE DE MONTREAL</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
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        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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      <invstOrSec>
        <name>COLORADO INTL CTR MET DIST NO 7</name>
        <lei>N/A</lei>
        <title>COLORADO INTL CTR MET DIST NO COLORADO INTERNATIONAL CENTER METROPOLITAN DISTRIC</title>
        <cusip>19650TAA7</cusip>
        <identifiers>
          <isin value="US19650TAA79"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1448636.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>STANDARD CHARTERED PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>STANDARD CHARTERED PLC 144A 7.014000% MATURITY: PERPETUAL</title>
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          <isin value="US853254AB69"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4094704.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>LA PAZ CNTY ARIZ INDL DEV AUTH ED FAC LEASE REV</name>
        <lei>N/A</lei>
        <title>LA PAZ CNTY AZ INDL DEV AUTH E LA PAZ COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY</title>
        <cusip>50376FAQ0</cusip>
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          <isin value="US50376FAQ00"/>
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        <curCd>USD</curCd>
        <valUSD>248299.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>DOMINION WTR &amp; SANTN DIST COLO REV</name>
        <lei>N/A</lei>
        <title>DOMINION WTR &amp; SANTN DIST CO R DOMINION WATER &amp; SANITATION DISTRICT</title>
        <cusip>25755AAE1</cusip>
        <identifiers>
          <isin value="US25755AAE10"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4002222.00000000</valUSD>
        <pctVal>0.474718274512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>CSCDA CMNTY IMPT AUTH CALIF ESSENTIAL HSG REV</name>
        <lei>N/A</lei>
        <title>CSCDA CMNTY IMPT AUTH CA ESSEN CSCDA COMMUNITY IMPROVEMENT AUTHORITY</title>
        <cusip>126292CQ2</cusip>
        <identifiers>
          <isin value="US126292CQ24"/>
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        <balance>2200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2151521.02000000</valUSD>
        <pctVal>0.255199823046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COLBY KANS HOSP LN ANTIC REV</name>
        <lei>N/A</lei>
        <title>COLBY KS HOSP LOAN ANTICIPATIO CITY OF COLBY KS</title>
        <cusip>19277TAA0</cusip>
        <identifiers>
          <isin value="US19277TAA07"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2003210.80000000</valUSD>
        <pctVal>0.237608202258</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW HOPE CULTURAL ED FACS FIN CORP TEX SR LIVING REV</name>
        <lei>N/A</lei>
        <title>NEW HOPE CULTURAL EDU FACS FIN NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR</title>
        <cusip>64542PCL7</cusip>
        <identifiers>
          <isin value="US64542PCL76"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>750000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <cusip>06055HAH6</cusip>
        <identifiers>
          <isin value="US06055HAH66"/>
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        <balance>2200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2234865.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <name>PENNSYLVANIA ECONOMIC DEV FIN AUTH EXEMPT FAC REV</name>
        <lei>N/A</lei>
        <title>PENNSYLVANIA ST ECON DEV FINGA PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHOR</title>
        <cusip>708686ET3</cusip>
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          <isin value="US708686ET36"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1001382.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>NORTHERN TRUST CORPORATION</name>
        <lei>549300GLF98S992BC502</lei>
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        <cusip>665859AQ7</cusip>
        <identifiers>
          <isin value="US665859AQ77"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>495090.70000000</valUSD>
        <pctVal>0.058724529231</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>PRUDENTIAL FINANCIAL, INC.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>PRUDENTIAL FINANCIAL INC 6.500000% 03/15/2054</title>
        <cusip>744320BP6</cusip>
        <identifiers>
          <isin value="US744320BP63"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2030472.58000000</valUSD>
        <pctVal>0.240841822273</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW HOPE CULTURAL ED FACS FIN CORP TEX RETIREMENT FAC REV</name>
        <lei>N/A</lei>
        <title>NEW HOPE CULTURAL ED FACS FIN NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR</title>
        <cusip>64542UDX9</cusip>
        <identifiers>
          <isin value="US64542UDX90"/>
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        <curCd>USD</curCd>
        <valUSD>1370434.35000000</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>2047-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VOYA FINANCIAL, INC.</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>VOYA FINANCIAL INC 7.758000% MATURITY: PERPETUAL</title>
        <cusip>929089AG5</cusip>
        <identifiers>
          <isin value="US929089AG55"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1751353.60000000</valUSD>
        <pctVal>0.207734493252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75800000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>IOWA FIN AUTH SR HSG REV</name>
        <lei>N/A</lei>
        <title>IOWA ST FIN AUTH SENIOR HSG RE IOWA FINANCE AUTHORITY</title>
        <cusip>46245FAT1</cusip>
        <identifiers>
          <isin value="US46245FAT12"/>
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        <balance>615000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>619417.24000000</valUSD>
        <pctVal>0.073471357504</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ILLINOIS FIN AUTH CHARTER SCH REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>RENO NEV SALES TAX REV</name>
        <lei>N/A</lei>
        <title>RENO NV SALES TAX REVENUE CITY OF RENO NV</title>
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          <isin value="US759861EJ20"/>
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        <curCd>USD</curCd>
        <valUSD>2726289.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>ANCHORAGE ALASKA SOLID WASTE SVCS REV</name>
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          <isin value="US033262AW63"/>
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        <curCd>USD</curCd>
        <valUSD>3560011.12000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>CALIFORNIA MUN FIN AUTH STUDENT RESIDENCE REV</name>
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          <isin value="US13051EAG52"/>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>National Finance Authority</name>
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        <valUSD>1341833.58000000</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>2038-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>ALAMEDA CORRIDOR TRANSN AUTH CALIF REV</name>
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        <cusip>010869JN6</cusip>
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          <isin value="US010869JN60"/>
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        <valUSD>1123432.40000000</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>2048-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
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        <name>HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV</name>
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        <cusip>42605QGN7</cusip>
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          <isin value="US42605QGN79"/>
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        <curCd>USD</curCd>
        <valUSD>955202.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-01</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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        <name>ARIZONA INDL DEV AUTH ECONOMIC DEV REV</name>
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        <title>ARIZONA ST INDL DEV AUTH ECON ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY</title>
        <cusip>040523AF9</cusip>
        <identifiers>
          <isin value="US040523AF98"/>
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        <curCd>USD</curCd>
        <valUSD>90000.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MINNEAPOLIS MINN CHARTER SCH LEASE REV</name>
        <lei>N/A</lei>
        <title>MINNEAPOLIS MN CHARTER SCH LEA CITY OF MINNEAPOLIS MN</title>
        <cusip>60375CBD5</cusip>
        <identifiers>
          <isin value="US60375CBD56"/>
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        <curCd>USD</curCd>
        <valUSD>530325.41000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>VIRGINIA SMALL BUSINESS FING AUTH HEALTHCARE FACS REV</name>
        <lei>N/A</lei>
        <title>VIRGINIA ST SMALL BUSINESS FIN VIRGINIA SMALL BUSINESS FINANCING AUTHORITY</title>
        <cusip>928105CH6</cusip>
        <identifiers>
          <isin value="US928105CH62"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1026384.60000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>CALIFORNIA INFRASTRUCTURE &amp; ECONOMIC DEV BK REV</name>
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          <isin value="US13034A6B14"/>
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        <valUSD>3390369.85000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW JERSEY ECONOMIC DEV AUTH ECONOMIC DEV REV</name>
        <lei>N/A</lei>
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        <cusip>64577HMH1</cusip>
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          <isin value="US64577HMH11"/>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <annualizedRt>5.75000000</annualizedRt>
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        <name>PUBLIC FIN AUTH WIS REV</name>
        <lei>N/A</lei>
        <title>PUBLIC FIN AUTH WI REVENUE PUBLIC FINANCE AUTHORITY</title>
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          <isin value="US74442PJS56"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <name>FRANKLIN CNTY OHIO CONVENTION FACS AUTH HOTEL PROJ REV</name>
        <lei>N/A</lei>
        <title>FRANKLIN CNTY OH CONVENTION FA FRANKLIN COUNTY CONVENTION FACILITIES AUTHORITY HO</title>
        <cusip>35317DAM7</cusip>
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          <isin value="US35317DAM74"/>
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        <valUSD>3735596.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV</name>
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        <title>NEW YORK NY CITY TRANSITIONAL NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY</title>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MUNICIPAL ELEC AUTH GA</name>
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          <isin value="US626207Z561"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DAIRY FARMERS OF AMERICA, INC.</name>
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        <title>DAIRY FARMERS OF AMERICA INC PREFERRED STOCK</title>
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          <isin value="US23385H4065"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1432500.00000000</valUSD>
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        <name>GRAND FORKS CNTY N D SOLID WASTE DISP FAC REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REV</name>
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        <name>TOB SECURITIZATION AUTH NORTHN CALIF TOB SETTLEMENT REV</name>
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        <name>ST LOUIS MO LD CLEARANCE REDEV AUTH ANNUAL APPROPRIATION REDEV REV</name>
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          <isin value="US85233SAN80"/>
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        <name>ILLINOIS ST</name>
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        <name>METLIFE, INC.</name>
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        <name>SUFFOLK REGL OFF-TRACK BETTING CORP N Y REV</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BRAZORIA CNTY TEX INDL DEV CORP SOLID WASTE DISP FACS REV</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL FR WE6090</title>
        <cusip>3132YBXT8</cusip>
        <identifiers>
          <isin value="US3132YBXT85"/>
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        <curCd>USD</curCd>
        <valUSD>3752218.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.21000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>LOWER ALA GAS DIST GAS PROJ REV</name>
        <lei>N/A</lei>
        <title>LOWER AL GAS DIST GAS PROJ REV LOWER ALABAMA GAS DISTRICT/THE</title>
        <cusip>547804AE4</cusip>
        <identifiers>
          <isin value="US547804AE44"/>
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        <balance>1500000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW JERSEY ST EDL FACS AUTH REV</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>MEMPHIS-SHELBY CNTY TENN INDL DEV BRD ECONOMIC DEV GROWTH ENGINE TAX INCREMENT REV</name>
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        <title>MEMPHIS-SHELBY CNTY TN INDL DE MEMPHIS-SHELBY COUNTY INDUSTRIAL DEVELOPMENT BOARD</title>
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        <invCountry>US</invCountry>

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        <name>BARCLAYS PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
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        <title>BENLOCH RANCH IMPROVEMENT ASSOCIATION NO 2 144A 10.000000% 12/01/2051</title>
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        <name>NEW YORK TRANSN DEV CORP SPL FAC REV</name>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WIS SPL REV</name>
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        <title>PUBLIC FIN AUTH WI SPL REVENUE PUBLIC FINANCE AUTHORITY</title>
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          <isin value="US74447TAA07"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <title>CALIFORNIA ST MUNI FIN AUTH RE CALIFORNIA MUNICIPAL FINANCE AUTHORITY</title>
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          <isin value="US13048TG233"/>
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        <name>NATIONAL FIN AUTH N H LEASE REV</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corporation</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.55199840</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>U.S. BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
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          <isin value="US9029738666"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>BUILD NYC RESOURCE CORP N Y REV</name>
        <lei>N/A</lei>
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          <isin value="US12008ELR52"/>
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        <curCd>USD</curCd>
        <valUSD>1396359.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MASSACHUSETTS ST DEV FIN AGY REV</name>
        <lei>N/A</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY R MASSACHUSETTS DEVELOPMENT FINANCE AGENCY</title>
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          <isin value="US57584Y4T33"/>
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        <curCd>USD</curCd>
        <valUSD>1461221.55000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH SOLID WASTE DISP REV</name>
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        <title>SOUTH CAROLINA ST JOBS-ECON DE SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY</title>
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          <isin value="US83704DAA46"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ILLINOIS ST SALES TAX REV</name>
        <lei>N/A</lei>
        <title>ILLINOIS ST SALES TAX REVENUE STATE OF ILLINOIS SALES TAX REVENUE</title>
        <cusip>452227HA2</cusip>
        <identifiers>
          <isin value="US452227HA27"/>
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        <valUSD>2004501.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>M&amp;T BANK CORPORATION</name>
        <lei>549300WYXDDBYRASEG81</lei>
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        <identifiers>
          <isin value="US55261FAL85"/>
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        <balance>1800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1794759.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.30400000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ATLANTA GA DEV AUTH REV</name>
        <lei>N/A</lei>
        <title>ATLANTA GA DEV AUTH ATLANTA DEVELOPMENT AUTHORITY/THE</title>
        <cusip>04780NMY0</cusip>
        <identifiers>
          <isin value="US04780NMY03"/>
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        <balance>2400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2084144.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTRAL ETOWAH CNTY ALA SOLID WASTE DISP AUTH REV</name>
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        <title>CENTRL ETOWAH CNTY SOL WST DIS CENTRAL ETOWAH COUNTY SOLID WASTE DISPOSAL AUTHORI</title>
        <cusip>15343TAC4</cusip>
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          <isin value="US15343TAC45"/>
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        <curCd>USD</curCd>
        <valUSD>820471.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW YORK LIBERTY DEV CORP LIBERTY REV</name>
        <lei>N/A</lei>
        <title>NEW YORK ST LIBERTY DEV CORP L NEW YORK LIBERTY DEVELOPMENT CORP</title>
        <cusip>649519DC6</cusip>
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          <isin value="US649519DC68"/>
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        <valUSD>3996954.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK LIBERTY DEV CORP LIBERTY REV</name>
        <lei>N/A</lei>
        <title>NEW YORK ST LIBERTY DEV CORP L NEW YORK LIBERTY DEVELOPMENT CORP</title>
        <cusip>649519DA0</cusip>
        <identifiers>
          <isin value="US649519DA03"/>
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        <curCd>USD</curCd>
        <valUSD>970843.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>WASHINGTON ST HSG FIN COMMN NONPROFIT HSG REV</name>
        <lei>N/A</lei>
        <title>WASHINGTON ST HSG FIN COMMISSI WASHINGTON STATE HOUSING FINANCE COMMISSION</title>
        <cusip>939783WH5</cusip>
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          <isin value="US939783WH56"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV</name>
        <lei>N/A</lei>
        <title>BLACK BELT ENERGY GAS DIST AL BLACK BELT ENERGY GAS DISTRICT</title>
        <cusip>09182TDB0</cusip>
        <identifiers>
          <isin value="US09182TDB08"/>
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        <valUSD>3293629.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>KENTUCKY ECONOMIC DEV FIN AUTH HEALTH CARE REV</name>
        <lei>N/A</lei>
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          <isin value="US49126TAX00"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <securityLending>
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      <invstOrSec>
        <name>BRISTOL TENN INDL DEV BRD TAX INCREMENT REV</name>
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        <title>BRISTOL TN INDL DEV BRD TAX IN BRISTOL INDUSTRIAL DEVELOPMENT BOARD</title>
        <cusip>11023QAB8</cusip>
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          <isin value="US11023QAB86"/>
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        <valUSD>1782811.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp PREFERRED STOCK</title>
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          <isin value="US3167736053"/>
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        <balance>49904.00000000</balance>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NEW YORK TRANSN DEV CORP SPL FAC REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
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        <valUSD>1380998.85000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>BRAZORIA CNTY TEX INDL DEV CORP SOLID WASTE DISP FACS REV</name>
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        <cusip>10604PAA1</cusip>
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          <isin value="US10604PAA12"/>
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        <curCd>USD</curCd>
        <valUSD>2924000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <identifiers>
          <isin value="US912797LW51"/>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1592864.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-10</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GRAND FORKS CNTY N D SOLID WASTE DISP FAC REV</name>
        <lei>N/A</lei>
        <title>GRAND FORKS CNTY ND COUNTY OF GRAND FORKS ND</title>
        <cusip>38543PAE8</cusip>
        <identifiers>
          <isin value="US38543PAE88"/>
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        <curCd>USD</curCd>
        <valUSD>10.00000000</valUSD>
        <pctVal>0.000001186136</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
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          <isin value="US902613BE74"/>
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        <curCd>USD</curCd>
        <valUSD>1141689.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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          <isin value="US404280BL25"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1490497.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>HSBA 6 PERP</title>
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                <isin value="GB0005405286"/>
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          </dbtSecRefInstruments>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BERKS CNTY PA MUN AUTH REV</name>
        <lei>N/A</lei>
        <title>BERKS CNTY PA MUNI AUTH BERKS COUNTY MUNICIPAL AUTHORITY/THE</title>
        <cusip>084538JJ7</cusip>
        <identifiers>
          <isin value="US084538JJ70"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2487541.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BLACK BELT ENERGY GAS DIST ALA GAS SUPPLY REV</name>
        <lei>N/A</lei>
        <title>BLACK BELT ENERGY GAS DIST AL BLACK BELT ENERGY GAS DISTRICT</title>
        <cusip>09182NCC2</cusip>
        <identifiers>
          <isin value="US09182NCC20"/>
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        <curCd>USD</curCd>
        <valUSD>1009037.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.26099905</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AUGUSTA GA DEV AUTH REV</name>
        <lei>N/A</lei>
        <title>AUGUSTA GA DEV AUTH REVENUE AUGUSTA DEVELOPMENT AUTHORITY</title>
        <cusip>05115CBR4</cusip>
        <identifiers>
          <isin value="US05115CBR43"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3502534.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW YORK CNTYS TOB TR IV</name>
        <lei>N/A</lei>
        <title>NEW YORK CNTYS NY TOBACCO TRUS NEW YORK COUNTIES TOBACCO TRUST IV</title>
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        <identifiers>
          <isin value="US62947YAJ01"/>
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        <balance>57000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4679095.80000000</valUSD>
        <pctVal>0.555004765966</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COLORADO HEALTH FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>COLORADO ST HLTH FACS AUTH REV COLORADO HEALTH FACILITIES AUTHORITY</title>
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        <identifiers>
          <isin value="US19648FKA11"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1733980.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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        <name>AVIATION STA NORTH MET DIST NO 2 COLO</name>
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        <title>AVIATION STATION NORTH MET DIS AVIATION STATION NORTH METROPOLITAN DISTRICT NO 2</title>
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          <isin value="US05369KAB52"/>
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        <curCd>USD</curCd>
        <valUSD>485618.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>ULSTER CNTY N Y CAP RESOURCE CORP REV</name>
        <lei>N/A</lei>
        <title>ULSTER CNTY NY CAPITAL RESOURC ULSTER COUNTY CAPITAL RESOURCE CORP</title>
        <cusip>903768AF6</cusip>
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          <isin value="US903768AF67"/>
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        <curCd>USD</curCd>
        <valUSD>800726.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW HOPE CULTURAL ED FACS FIN CORP TEX SR LIVING REV</name>
        <lei>N/A</lei>
        <title>NEW HOPE CULTURAL EDU FACS FIN NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR</title>
        <cusip>64542PAV7</cusip>
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          <isin value="US64542PAV76"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VIRGINIA SMALL BUSINESS FING AUTH EDL FACS REV</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
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        <title>Bank of America Corp PREFERRED STOCK</title>
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          <isin value="US0605056250"/>
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        <balance>20730.00000000</balance>
        <units>NS</units>
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        <name>NEW YORK TRANSN DEV CORP SPL FAC REV</name>
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        <name>MICHIGAN FIN AUTH REV</name>
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        <name>MISSOURI ST DEV FIN BRD REV</name>
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        <name>CITIGROUP INC.</name>
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        <name>CALIFORNIA STATEWIDE FING AUTH TOBACCO SETTLEMENT</name>
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        <name>Freddie Mac</name>
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        <title>FEDERAL HOME LOAN MTGE CORP MU FREDDIE MAC MULTIFAMILY ML CERTIFICATES</title>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-01-25</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FRANKLIN CNTY PA INDL DEV AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>353273BM6</cusip>
        <identifiers>
          <isin value="US353273BM63"/>
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        <curCd>USD</curCd>
        <valUSD>494514.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>CHESTER CNTY PA INDL DEV AUTH SPL OBLIG REV</name>
        <lei>N/A</lei>
        <title>CHESTER CNTY PA INDL DEV AUTH CHESTER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY</title>
        <cusip>16559WAA8</cusip>
        <identifiers>
          <isin value="US16559WAA80"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99305.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>WINDSOR CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>WINDSOR CA UNIF SCH DIST WINDSOR UNIFIED SCHOOL DISTRICT</title>
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          <isin value="US973517JA45"/>
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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>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>LEWISTOWN COMM CTR CMNTY DEV AUTH VA REV</name>
        <lei>N/A</lei>
        <title>LEWISTOWN COMMERCE CENTER VA C LEWISTOWN COMMERCE CENTER COMMUNITY DEVELOPMENT AU</title>
        <cusip>528734AK2</cusip>
        <identifiers>
          <isin value="US528734AK25"/>
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        <curCd>USD</curCd>
        <valUSD>53100.00000000</valUSD>
        <pctVal>0.006298386340</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MAIN STR NAT GAS INC GA GAS SUPPLY REV</name>
        <lei>N/A</lei>
        <title>MAIN STREET NATURAL GAS INC GA MAIN STREET NATURAL GAS INC</title>
        <cusip>56035DGB2</cusip>
        <identifiers>
          <isin value="US56035DGB29"/>
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        <balance>3400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3558832.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>WISCONSIN CTR DIST WIS TAX REV</name>
        <lei>N/A</lei>
        <title>WISCONSIN CENTER DIST WI TAX R WISCONSIN CENTER DISTRICT</title>
        <cusip>976595FU7</cusip>
        <identifiers>
          <isin value="US976595FU76"/>
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        <balance>8110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2863223.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MUNICIPAL ELEC AUTH GA</name>
        <lei>N/A</lei>
        <title>MUNI ELEC AUTH OF GEORGIA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA</title>
        <cusip>626207H23</cusip>
        <identifiers>
          <isin value="US626207H239"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4860122.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CREDIT AGRICOLE SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
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        <cusip>225313AP0</cusip>
        <identifiers>
          <isin value="US225313AP06"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2755433.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-03-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SEI DAILY INCOME TRUST GOVERNMENT FUND (#36)</title>
        <cusip>783965593</cusip>
        <identifiers>
          <isin value="US7839655930"/>
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        <balance>1776870.61000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1776870.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENTERGY TEXAS, INC.</name>
        <lei>LWXX58X12AJXISQ28573</lei>
        <title>Entergy Texas Inc PREFERRED STOCK</title>
        <cusip>29365T302</cusip>
        <identifiers>
          <isin value="US29365T3023"/>
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        <balance>39700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>896227.50000000</valUSD>
        <pctVal>0.106304840753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CoBank, ACB</name>
        <lei>P0J8I7M2E0A77CKF1705</lei>
        <title>COBANK ACB 6.250000% MATURITY: PERPETUAL</title>
        <cusip>19075QAC6</cusip>
        <identifiers>
          <isin value="US19075QAC69"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500479.50000000</valUSD>
        <pctVal>0.059363714623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ILLINOIS ST TOLL HWY AUTH TOLL HIGHWAY REV</name>
        <lei>N/A</lei>
        <title>ILLINOIS ST TOLL HIGHWAY AUTH ILLINOIS STATE TOLL HIGHWAY AUTHORITY</title>
        <cusip>452252PQ6</cusip>
        <identifiers>
          <isin value="US452252PQ68"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2524357.50000000</valUSD>
        <pctVal>0.299423329503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW JERSEY ECONOMIC DEV AUTH MTR VEH SURCHARGES REV</name>
        <lei>N/A</lei>
        <title>NEW JERSEY ST ECON DEV AUTH MT NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY</title>
        <cusip>64578JBA3</cusip>
        <identifiers>
          <isin value="US64578JBA34"/>
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        <balance>445000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>427876.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HOUSTON TEX ARPT SYS REV</name>
        <lei>N/A</lei>
        <title>HOUSTON TX ARPT SYS REVENUE CITY OF HOUSTON TX AIRPORT SYSTEM REVENUE</title>
        <cusip>442349HV1</cusip>
        <identifiers>
          <isin value="US442349HV18"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4153474.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CMFA SPL FIN AGY CALIF ESSENTIAL HSG REV</name>
        <lei>N/A</lei>
        <title>CMFA SPL FIN AGY CA ESSENTIAL CMFA SPECIAL FINANCE AGENCY</title>
        <cusip>12574WAB6</cusip>
        <identifiers>
          <isin value="US12574WAB63"/>
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        <balance>1095000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>926399.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UMB FINANCIAL CORPORATION</name>
        <lei>549300MGEH3N3CUCV828</lei>
        <title>UMB Financial Corp PREFERRED STOCK</title>
        <cusip>902788405</cusip>
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          <isin value="US9027884058"/>
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        <balance>38600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>975422.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DIRECTOR ST NEV DEPT BUSINESS &amp; IND ENVIRONMENTAL IMPT REV</name>
        <lei>N/A</lei>
        <title>DIRECTOR OF THE ST OF NEVADA D STATE OF NEVADA DEPARTMENT OF BUSINESS &amp; INDUSTRY</title>
        <cusip>25461PAE3</cusip>
        <identifiers>
          <isin value="US25461PAE34"/>
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        <balance>2702595.36000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11080.64000000</valUSD>
        <pctVal>0.001314315473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.95000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK ST URBAN DEV CORP ST SALES TAX REV</name>
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        <name>IOWA FIN AUTH REV</name>
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        <name>NEW YORK TRANSN DEV CORP SPL FAC REV</name>
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        <name>Freddie Mac</name>
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        <name>PUERTO RICO ELEC PWR AUTH PWR REV</name>
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        <name>GEO L SMITH II GA WORLD CONGRESS CTR AUTH CONVENTION CTR HOTEL REV</name>
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        <name>CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV</name>
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        <name>BERKS CNTY PA MUN AUTH REV</name>
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        <name>PIMA CNTY ARIZ INDL DEV AUTH ED REV</name>
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        <name>BLYTHE TWP PA SOLID WASTE AUTH REV</name>
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        <name>CALIFORNIA HSG FIN AGY LTD OBLIG MULTIFAMILY HSG REV</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA HSG FIN AGY LTD OBLIG MULTIFAMILY HSG REV</name>
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        <cusip>13034DAE4</cusip>
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          <isin value="US13034DAE40"/>
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        <balance>4700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4664636.26000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>MIDA MTN VLG PUB INFRASTRUCTURE DIST UTAH TAX ALLOCATION REV</name>
        <lei>N/A</lei>
        <title>MIDA MOUNTAIN VLG PUBLIC INFRA MIDA MOUNTAIN VILLAGE PUBLIC INFRASTRUCTURE DISTRI</title>
        <cusip>59561UAB6</cusip>
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          <isin value="US59561UAB61"/>
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        <balance>1790000.00000000</balance>
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        <valUSD>1779645.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      </invstOrSec>
      <invstOrSec>
        <name>BUCKEYE OHIO TOB SETTLEMENT FING AUTH</name>
        <lei>N/A</lei>
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        <cusip>118217DA3</cusip>
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          <isin value="US118217DA38"/>
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        <curCd>USD</curCd>
        <valUSD>5212045.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RENO NEV SALES TAX REV</name>
        <lei>N/A</lei>
        <title>RENO NV SALES TAX REVENUE CITY OF RENO NV</title>
        <cusip>759861EK9</cusip>
        <identifiers>
          <isin value="US759861EK92"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1143354.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LANCASTER CNTY PA HOSP AUTH REV</name>
        <lei>N/A</lei>
        <title>LANCASTER CNTY PA HOSP AUTH LANCASTER COUNTY HOSPITAL AUTHORITY/PA</title>
        <cusip>514045W66</cusip>
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          <isin value="US514045W666"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2912691.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</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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        <name>ST JOHNS CNTY FLA INDL DEV AUTH SR LIVING REV</name>
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        <cusip>79041LAP3</cusip>
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          <isin value="US79041LAP31"/>
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        <curCd>USD</curCd>
        <valUSD>719251.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALLENTOWN PA NEIGHBORHOOD IMPT ZONE DEV AUTH TAX REV</name>
        <lei>N/A</lei>
        <title>ALLENTOWN PA NEIGHBORHOOD IMPT ALLENTOWN NEIGHBORHOOD IMPROVEMENT ZONE DEVELOPMEN</title>
        <cusip>018444CA5</cusip>
        <identifiers>
          <isin value="US018444CA51"/>
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        <balance>2040000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2005449.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRAZORIA CNTY TEX INDL DEV CORP SOLID WASTE DISP FACS REV</name>
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        <title>BRAZORIA CNTY TX INDL DEV CORP BRAZORIA COUNTY INDUSTRIAL DEVELOPMENT CORP</title>
        <cusip>10604PAB9</cusip>
        <identifiers>
          <isin value="US10604PAB94"/>
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        <balance>5255000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4204000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corporation</name>
        <lei>N/A</lei>
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        <cusip>3137HB2V5</cusip>
        <identifiers>
          <isin value="US3137HB2V56"/>
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        <balance>5183963.80000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5114339.02000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.03300080</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>BRAZORIA CNTY TEX INDL DEV CORP SOLID WASTE DISP FACS REV</name>
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        <cusip>10604PAC7</cusip>
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          <isin value="US10604PAC77"/>
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        <balance>480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>384000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <name>PUBLIC FIN AUTH WIS EDL FAC REV</name>
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        <title>PUBLIC FIN AUTH WI EDUCTNL FAC PUBLIC FINANCE AUTHORITY</title>
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          <isin value="US74443DGN57"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>700092.10000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <name>PUBLIC FIN AUTH WIS PROJ REV</name>
        <lei>N/A</lei>
        <title>PUBLIC FIN AUTH WI PROJ REVENU PUBLIC FINANCE AUTHORITY</title>
        <cusip>74444UAC6</cusip>
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          <isin value="US74444UAC62"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FLORIDA DEV FIN CORP EDL FACS REV</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>NORTH CAROLINA HSG FIN AGY HOMEOWNERSHIP REV</name>
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        <title>NORTH CAROLINA ST HSG FIN AGY NORTH CAROLINA HOUSING FINANCE AGENCY</title>
        <cusip>6582077Q2</cusip>
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          <isin value="US6582077Q23"/>
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        <balance>900000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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        <name>BNP PARIBAS SA</name>
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          <isin value="US05565A5R02"/>
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        <balance>1400000.00000000</balance>
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        <valUSD>1482894.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-02-14</maturityDt>
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          <annualizedRt>8.50000000</annualizedRt>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
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      <invstOrSec>
        <name>ANGELINA &amp; NECHES RIV AUTH TEX INDL DEV CORP SOLID WASTE DISP &amp; WASTEWATER TREATMENT</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SARASOTA CNTY FLA HEALTH FACS AUTH RETIREMENT FAC REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SOUTH CAROLINA ST PUB SVCS AUTH REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-12-01</maturityDt>
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        <name>PINERY COML MET DIST NO 2 COLO SPL REV</name>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TEXAS WTR DEV BRD REV</name>
        <lei>N/A</lei>
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        <cusip>88285AGC6</cusip>
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          <isin value="US88285AGC62"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>ALASKA INDL DEV &amp; EXPT AUTH CMNTY PROVIDER REV</name>
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        <cusip>01170MAF0</cusip>
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          <isin value="US01170MAF05"/>
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        <valUSD>5938.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW YORK TRANSN DEV CORP SPL FAC REV</name>
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        <cusip>650116GW0</cusip>
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          <isin value="US650116GW09"/>
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        <valUSD>2069745.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>PRONGHORN VY MET DIST COLO</name>
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          <isin value="US74344YAB11"/>
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        <valUSD>193606.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MIDTOWN MIAMI CMNTY DEV DIST FLA SPL ASSMT REV</name>
        <lei>N/A</lei>
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        <cusip>59807PAE5</cusip>
        <identifiers>
          <isin value="US59807PAE51"/>
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        <valUSD>1630668.46000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BIRMINGHAM ALA SPL CARE FACS FING AUTH REVS</name>
        <lei>N/A</lei>
        <title>BIRMINGHAM AL SPL CARE FACS FI ALABAMA SPECIAL CARE FACILITIES FINANCING AUTHORIT</title>
        <cusip>091081DN6</cusip>
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          <isin value="US091081DN68"/>
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        <valUSD>701490.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Washington State Housing Finance Commission</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US93978T4M89"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>HARVEST CROSSING MET DIST NO 4 COLO</name>
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          <isin value="US41753TAA79"/>
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        <valUSD>1506095.10000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV</name>
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        <title>GOLDEN ST TOBACCO SECURITIZATI GOLDEN STATE TOBACCO SECURITIZATION CORP</title>
        <cusip>38122ND82</cusip>
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          <isin value="US38122ND823"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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        <name>AFFORDABLE HSG OPPORTUNITIES TR</name>
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        <title>AFFORDABLE HSG OPPORTUNITIES T AFFORDABLE HOUSING OPPORTUNITIES TRUST SERIES AH-0</title>
        <cusip>00826SAR1</cusip>
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        <issuerCat>MUN</issuerCat>
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        <name>PUBLIC FIN AUTH WIS REV</name>
        <lei>N/A</lei>
        <title>PUBLIC FIN AUTH WI REVENUE PUBLIC FINANCE AUTHORITY</title>
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          <isin value="US74442PDD42"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.00000000</annualizedRt>
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        <name>LLOYDS BANKING GROUP PLC</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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        <name>GAINESVILLE &amp; HALL CNTY GA DEV AUTH EDL FACS REV</name>
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        <issuerCat>MUN</issuerCat>
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        <name>AFFORDABLE HSG OPPORTUNITIES TR</name>
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        <title>AFFORDABLE HSG OPPORTUNITIES T AFFORDABLE HOUSING OPPORTUNITIES TRUST SERIES AH-0</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-10-01</maturityDt>
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      <invstOrSec>
        <name>OKLAHOMA DEV FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>OKLAHOMA ST DEV FIN AUTH OKLAHOMA DEVELOPMENT FINANCE AUTHORITY</title>
        <cusip>6789083M4</cusip>
        <identifiers>
          <isin value="US6789083M46"/>
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        <curCd>USD</curCd>
        <valUSD>2622156.39000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>ST CLOUD MINN CHARTER SCH LEASE REV</name>
        <lei>N/A</lei>
        <title>ST CLOUD MN CHRT SCH LEASE REV CITY OF ST CLOUD MN</title>
        <cusip>788326AB2</cusip>
        <identifiers>
          <isin value="US788326AB20"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98309.60000000</valUSD>
        <pctVal>0.011660863310</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>M&amp;T BANK CORPORATION</name>
        <lei>549300WYXDDBYRASEG81</lei>
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        <cusip>55261FAN4</cusip>
        <identifiers>
          <isin value="US55261FAN42"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1873990.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW HOPE CULTURAL ED FACS FIN CORP TEX SR LIVING REV</name>
        <lei>N/A</lei>
        <title>NEW HOPE CULTURAL EDU FACS FIN NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR</title>
        <cusip>64542PCJ2</cusip>
        <identifiers>
          <isin value="US64542PCJ21"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>125000.00000000</valUSD>
        <pctVal>0.014826709841</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INDIANA FIN AUTH EXEMPT FAC REV</name>
        <lei>N/A</lei>
        <title>INDIANA ST FIN AUTH EXEMPT FAC INDIANA FINANCE AUTHORITY</title>
        <cusip>45470DAA5</cusip>
        <identifiers>
          <isin value="US45470DAA54"/>
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        <balance>10200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1570642.92000000</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>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA CMNTY CHOICE FING A CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY</title>
        <cusip>13013JFR2</cusip>
        <identifiers>
          <isin value="US13013JFR23"/>
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        <balance>3100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3279918.11000000</valUSD>
        <pctVal>0.389043152959</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.00000040</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH POLLUTION CTL REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST STWD CMNTYS DEVA CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHO</title>
        <cusip>13078HBA9</cusip>
        <identifiers>
          <isin value="US13078HBA95"/>
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        <balance>2200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2234701.04000000</valUSD>
        <pctVal>0.265066111215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Banco Santander, S.A.</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>BANCO SANTANDER SA 9.625000% MATURITY: PERPETUAL</title>
        <cusip>05971KAP4</cusip>
        <identifiers>
          <isin value="US05971KAP49"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3302538.00000000</valUSD>
        <pctVal>0.391726181324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Banco Santander, S.A.</name>
              <title>SAN 9.625 PERP</title>
              <curCd>EUR</curCd>
              <identifiers>
                <isin value="ES0113900J37"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="0.00000000" curCd="EUR"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WICHITA KANS HEALTH CARE FACS REV</name>
        <lei>N/A</lei>
        <title>WICHITA KS HLTH CARE FACS REVE CITY OF WICHITA KS</title>
        <cusip>967249QU0</cusip>
        <identifiers>
          <isin value="US967249QU07"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>490985.22000000</valUSD>
        <pctVal>0.058237563146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV</name>
        <lei>N/A</lei>
        <title>BLACK BELT ENERGY GAS DIST AL BLACK BELT ENERGY GAS DISTRICT</title>
        <cusip>09182TCG0</cusip>
        <identifiers>
          <isin value="US09182TCG04"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3122205.90000000</valUSD>
        <pctVal>0.370336327550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Allianz SE</name>
        <lei>529900K9B0N5BT694847</lei>
        <title>ALLIANZ SE 144A 3.500000% MATURITY: PERPETUAL</title>
        <cusip>018820AA8</cusip>
        <identifiers>
          <isin value="US018820AA81"/>
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        <balance>2600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2526300.92000000</valUSD>
        <pctVal>0.299653845699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP, INC.</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>CITIZENS FINANCIAL GROUP INC 5.650000% MATURITY: PERPETUAL</title>
        <cusip>174610AU9</cusip>
        <identifiers>
          <isin value="US174610AU90"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1496440.80000000</valUSD>
        <pctVal>0.177498348289</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-10-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BUCKEYE OHIO TOB SETTLEMENT FING AUTH</name>
        <lei>N/A</lei>
        <title>BUCKEYE OH TOBACCO SETTLEMENT BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY</title>
        <cusip>118217CZ9</cusip>
        <identifiers>
          <isin value="US118217CZ97"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3460976.40000000</valUSD>
        <pctVal>0.410519142800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ILLINOIS ST</name>
        <lei>N/A</lei>
        <title>ILLINOIS ST STATE OF ILLINOIS</title>
        <cusip>452152V65</cusip>
        <identifiers>
          <isin value="US452152V658"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2564717.00000000</valUSD>
        <pctVal>0.304210518270</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HANOVER CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV</name>
        <lei>N/A</lei>
        <title>HANOVER CNTY VA ECON DEV AUTHR HANOVER COUNTY ECONOMIC DEVELOPMENT AUTHORITY</title>
        <cusip>41077CAQ8</cusip>
        <identifiers>
          <isin value="US41077CAQ87"/>
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        <balance>375000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>372001.65000000</valUSD>
        <pctVal>0.044124484200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TENNESSEE ENERGY ACQUISITION CORP GAS REV</name>
        <lei>N/A</lei>
        <title>TENNESSEE ST ENERGY ACQUISITIO TENNESSEE ENERGY ACQUISITION CORP</title>
        <cusip>880443EE2</cusip>
        <identifiers>
          <isin value="US880443EE26"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4054011.60000000</valUSD>
        <pctVal>0.480861229488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <name>LOUISIANA LOC GOVT ENVIRONMENTAL FACS &amp; CMNTY DEV AUTH REV</name>
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        <name>ARIZONA INDL DEV AUTH SR LIVING REV</name>
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        <name>BAYTOWN TEX MUN DEV DIST HOTEL REV</name>
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        <name>TULSA OKLA MUN ARPT TR REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Tobacco Settlement Finance Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MICHIGAN TOB SETTLEMENT FIN AUTH TOB SETTLEMENT ASSET BACKED REV</name>
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        <name>PUERTO RICO ELEC PWR AUTH PWR REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ALLEGHENY CNTY PA ARPT AUTH ARPT REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COLORADO EDL &amp; CULTURAL FACS AUTH REV</name>
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        <name>DETROIT MICH</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CLIFTON TEX HIGHER ED FIN CORP ED REV</name>
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        <cusip>187145JS7</cusip>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PUBLIC FIN AUTH WIS SR LIVING REV</name>
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        <title>PUBLIC FIN AUTH WI SENIOR LIVI PUBLIC FINANCE AUTHORITY</title>
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        <identifiers>
          <isin value="US74443UBC62"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ILLINOIS FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY</title>
        <cusip>45204EA73</cusip>
        <identifiers>
          <isin value="US45204EA734"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CREDIT AGRICOLE SA</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
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        <name>LEWISTOWN COMM CTR CMNTY DEV AUTH VA REV</name>
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        <name>ARIZONA INDL DEV AUTH SR LIVING REV</name>
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        <title>ARIZONA ST INDL DEV AUTH SENIO ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY</title>
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        <name>DENVER COLO INTL BUSINESS CTR MET DIST NO 1</name>
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        <name>THE PNC FINANCIAL SERVICES GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>JPMORGAN CHASE &amp; CO.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>KEYCORP</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>LANCASTER CNTY PA HOSP AUTH REV</name>
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        <title>LANCASTER CNTY PA HOSP AUTH LANCASTER COUNTY HOSPITAL AUTHORITY/PA</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MIAMI-DADE CNTY FLA SEAPORT REV</name>
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        <title>MIAMI-DADE CNTY FL SEAPORT REV COUNTY OF MIAMI-DADE SEAPORT DEPARTMENT</title>
        <cusip>59335KFB8</cusip>
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          <isin value="US59335KFB89"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHICAGO ILL O HARE INTL ARPT SPL FAC REV</name>
        <lei>N/A</lei>
        <title>CHICAGO IL O'HARE INTERNATIONA CHICAGO O'HARE INTERNATIONAL AIRPORT</title>
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          <isin value="US167590FA14"/>
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        <valUSD>475570.45000000</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>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>PUERTO RICO COMWLTH</name>
        <lei>N/A</lei>
        <title>PUERTO RICO CMWLTH COMMONWEALTH OF PUERTO RICO</title>
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          <isin value="US74514L4C84"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>STIFEL FINANCIAL CORP.</name>
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        <title>Stifel Financial Corp PREFERRED STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MONTGOMERY CNTY OHIO SR LIVING REV</name>
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        <title>MONTGOMERY CNTY OH SENIOR LIVI COUNTY OF MONTGOMERY OH</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS GROUP AG 144A 9.250000% MATURITY: PERPETUAL</title>
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          <isin value="US902613BF40"/>
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        <balance>2000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MASSACHUSETTS ST</name>
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        <title>MASSACHUSETTS ST COMMONWEALTH OF MASSACHUSETTS</title>
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          <isin value="US57582R4D54"/>
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        <issuerCat>MUN</issuerCat>
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        <issuerCat>CORP</issuerCat>
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        <name>SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH SOLID WASTE DISP REV</name>
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        <name>Dominion Energy, Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
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        <name>STATE STREET CORPORATION</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
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          <maturityDt>2173-06-15</maturityDt>
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        <name>TOLL ROAD INVESTORS PARTNERSHIP II, L.P.</name>
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        <title>TOLL ROAD INVESTORS PARTNERSHIP II LP 144A ZERO COUPON 02/15/2043</title>
        <cusip>88948ABM8</cusip>
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          <isin value="US88948ABM80"/>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <cusip>949746TD3</cusip>
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          <isin value="US949746TD35"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2174-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Banco Bilbao Vizcaya Argentaria, S.A.</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>BANCO BILBAO VIZCAYA ARGENTARIA SA 9.375000% MATURITY: PERPETUAL</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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              <name>Banco Bilbao Vizcaya Argentaria, S.A.</name>
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        <name>PUERTO RICO ELEC PWR AUTH PWR REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ATLANTA GA DEV AUTH REV</name>
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        <name>UTAH ST CHARTER SCH FIN AUTH CHARTER SCH REV</name>
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          <maturityDt>2027-07-15</maturityDt>
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        <name>ILLINOIS ST</name>
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          <isin value="US452153KA61"/>
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        <valUSD>2055671.40000000</valUSD>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>ANGELINA &amp; NECHES RIV AUTH TEX INDL DEV CORP SOLID WASTE DISP &amp; WASTEWATER TREATMENT</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.50000000</annualizedRt>
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        <name>CALIFORNIA PUB FIN AUTH SR LIVING REV</name>
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          <isin value="US13057GAB59"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MICHIGAN FIN AUTH LTD OBLIG REV</name>
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          <isin value="US594479FT97"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-09-01</maturityDt>
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        <name>CHATTANOOGA TENN HEALTH EDL &amp; HSG FAC BRD HEALTH SYS REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ILLINOIS FIN AUTH REV</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK CNTYS TOB TR V</name>
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        <name>SPRING VY CMNTY INFRASTRUCTURE DIST NO 1 IDAHO SPL ASSMT</name>
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        <name>AUSTIN AFFORDABLE PFC INC TEX MULTIFAMILY HSG REV</name>
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        <name>CALIFORNIA HSG FIN AGY LTD OBLIG MULTIFAMILY HSG REV</name>
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        <name>CALIFORNIA POLLUTION CTL FING AUTH REV</name>
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        <name>PORT BEAUMONT TEX NAV DIST DOCK &amp; WHARF FAC REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>WASHINGTON ST HSG FIN COMMN MULTIFAMILY TAX-EXEMPT MTG-BKD BDS</name>
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      <invstOrSec>
        <name>COMANCHE CNTY OKLA HOSP AUTH REV</name>
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        <name>MUNICIPAL ELEC AUTH GA</name>
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        <name>PUERTO RICO COMWLTH</name>
        <lei>N/A</lei>
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        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BANK OF AMERICA CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>KEYCORP</name>
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        <name>HILLSIDE ILL TAX INCREMENT REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CALHOUN CNTY TEX NAV INDL DEV AUTH FAC REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>PIMA CNTY ARIZ INDL DEV AUTH ED REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>TEXAS WTR DEV BRD REV</name>
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        <title>TEXAS WTR DEV BRD REVENUE TEXAS WATER DEVELOPMENT BOARD</title>
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        <name>SUFFOLK TOB ASSET SECURITIZATION CORP N Y TOB SETTLEMENT ASSET-BKD</name>
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        <name>M-S-R ENERGY AUTH CALIF GAS REV</name>
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        <name>WICHITA KANS HEALTH CARE FACS REV</name>
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        <name>REGIONS FINANCIAL CORPORATION</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
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        <name>AVIATION STA NORTH MET DIST NO 2 COLO</name>
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        <name>MUNICIPAL ELEC AUTH GA</name>
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        <title>MUNI ELEC AUTH OF GA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA</title>
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      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REV</name>
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        <title>PUERTO RICO SALES TAX FING COR PUERTO RICO SALES TAX FINANCING CORP SALES TAX REV</title>
        <cusip>74529JPX7</cusip>
        <identifiers>
          <isin value="US74529JPX71"/>
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        <balance>4503000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4223578.04000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PUERTO RICO ELEC PWR AUTH PWR REV</name>
        <lei>N/A</lei>
        <title>PUERTO RICO ELEC PWR AUTH PWRR PUERTO RICO ELECTRIC POWER AUTHORITY</title>
        <cusip>74526YEE1</cusip>
        <identifiers>
          <isin value="US74526YEE14"/>
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        <balance>1070000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>518950.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PAYNE CNTY OKLA ECONOMIC DEV AUTH REV</name>
        <lei>N/A</lei>
        <title>PAYNE CNTY OK ECON DEV AUTH RE PAYNE COUNTY ECONOMIC DEVELOPMENT AUTHORITY</title>
        <cusip>704387AE9</cusip>
        <identifiers>
          <isin value="US704387AE95"/>
        </identifiers>
        <balance>522391.70000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1802.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MIDA MTN VLG PUB INFRASTRUCTURE DIST UTAH SPL ASSMT REV</name>
        <lei>N/A</lei>
        <title>MIDA MOUNTAIN VLG PUBLIC INFRA MIDA MOUNTAIN VILLAGE PUBLIC INFRASTRUCTURE DISTRI</title>
        <cusip>59561TAQ6</cusip>
        <identifiers>
          <isin value="US59561TAQ67"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1634333.60000000</valUSD>
        <pctVal>0.193854320567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ILLINOIS FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY</title>
        <cusip>45204EA65</cusip>
        <identifiers>
          <isin value="US45204EA650"/>
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        <balance>1560613.18000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12484.91000000</valUSD>
        <pctVal>0.001480881103</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OHIO ST AIR QUALITY DEV AUTH EXEMPT FACS REV</name>
        <lei>N/A</lei>
        <title>OHIO ST AIR QUALITY DEV AUTH E OHIO AIR QUALITY DEVELOPMENT AUTHORITY</title>
        <cusip>67754AAF1</cusip>
        <identifiers>
          <isin value="US67754AAF12"/>
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        <balance>4250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3720196.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEXAS WTR DEV BRD REV</name>
        <lei>N/A</lei>
        <title>TEXAS WTR DEV BRD REVENUE TEXAS WATER DEVELOPMENT BOARD</title>
        <cusip>88285ADU9</cusip>
        <identifiers>
          <isin value="US88285ADU97"/>
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        <balance>3600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3652412.76000000</valUSD>
        <pctVal>0.433226113702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STATE STREET CORPORATION</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>STATE STREET CORP 6.700000% MATURITY: PERPETUAL</title>
        <cusip>857477CM3</cusip>
        <identifiers>
          <isin value="US857477CM33"/>
        </identifiers>
        <balance>1200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1223374.80000000</valUSD>
        <pctVal>0.145108985493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LOUISIANA LOC GOVT ENVIRONMENTAL FACS &amp; CMNTY DEV AUTH REV</name>
        <lei>N/A</lei>
        <title>LOUISIANA ST LOCAL GOVT ENVRNM LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIE</title>
        <cusip>54628CJC7</cusip>
        <identifiers>
          <isin value="US54628CJC73"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>343140.16000000</valUSD>
        <pctVal>0.040701116697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PENNSYLVANIA ECONOMIC DEV FING AUTH REV</name>
        <lei>N/A</lei>
        <title>PENNSYLVANIA ST ECON DEV FING PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHOR</title>
        <cusip>70869PPB7</cusip>
        <identifiers>
          <isin value="US70869PPB75"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1242110.25000000</valUSD>
        <pctVal>0.147331266140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL FIN AUTH N H MUN CTFS</name>
        <lei>N/A</lei>
        <title>NATIONAL FIN AUTH NH MUNI CTFS NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY</title>
        <cusip>63607WAK0</cusip>
        <identifiers>
          <isin value="US63607WAK09"/>
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        <balance>3945328.24000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3657015.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.78700000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICAN EXPRESS COMPANY</name>
        <lei>R4PP93JZOLY261QX3811</lei>
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        <cusip>025816CH0</cusip>
        <identifiers>
          <isin value="US025816CH00"/>
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        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5802321.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON ST HSG FIN COMMN NONPROFIT HSG REV</name>
        <lei>N/A</lei>
        <title>WASHINGTON ST HSG FIN COMMISSI WASHINGTON STATE HOUSING FINANCE COMMISSION</title>
        <cusip>939783Q74</cusip>
        <identifiers>
          <isin value="US939783Q745"/>
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        <balance>1050000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1029915.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW HOPE CULTURAL ED FACS FIN CORP TEX SR LIVING REV</name>
        <lei>N/A</lei>
        <title>NEW HOPE CULTURAL EDU FACS FIN NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR</title>
        <cusip>64542PEX9</cusip>
        <identifiers>
          <isin value="US64542PEX96"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>426554.55000000</valUSD>
        <pctVal>0.050595204354</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ARIZONA INDL DEV AUTH ED REV</name>
        <lei>N/A</lei>
        <title>ARIZONA ST INDL DEV AUTH EDU R ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY</title>
        <cusip>04052BAN4</cusip>
        <identifiers>
          <isin value="US04052BAN47"/>
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        <balance>1090000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1062358.04000000</valUSD>
        <pctVal>0.126010195252</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL TR AGY FLA REV</name>
        <lei>N/A</lei>
        <title>CAPITAL TRUST AGY FL REVENUE CAPITAL TRUST AGENCY INC</title>
        <cusip>14052WDK0</cusip>
        <identifiers>
          <isin value="US14052WDK09"/>
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        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3005476.60000000</valUSD>
        <pctVal>0.356490635861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>METROPOLITAN DEV &amp; HSG AGY TENN TAX INCREMENT DEV REV</name>
        <lei>N/A</lei>
        <title>NASHVILLE MET DEV &amp; HSG AGY TN NASHVILLE METROPOLITAN DEVELOPMENT &amp; HOUSING AGENC</title>
        <cusip>591874AA0</cusip>
        <identifiers>
          <isin value="US591874AA09"/>
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        <balance>445000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>446913.63000000</valUSD>
        <pctVal>0.053010069728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH MULTIFAMILY HSG REV</name>
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        <name>UBS Group AG</name>
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        <name>UIPA CROSSROADS PUB INFRASTRUCTURE DIST UTAH TAX DIFFERENTIAL REV</name>
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        <name>NEW HOPE CULTURAL ED FACS FIN CORP TEX RETIREMENT FAC REV</name>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-22</maturityDt>
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        <name>CSCDA CMNTY IMPT AUTH CALIF ESSENTIAL HSG REV</name>
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        <name>Freddie Mac</name>
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        <name>NEW YORK N Y CITY INDL DEV AGY REV</name>
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        <name>CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV</name>
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        <name>DIRECTOR ST NEV DEPT BUSINESS &amp; IND ENVIRONMENTAL IMPT REV</name>
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        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REV</name>
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        <name>The Bank of New York Mellon Corporation</name>
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        <name>MORONGO BAND OF MISSION INDIANS CALIF REV</name>
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        <name>MICHIGAN TOB SETTLEMENT FIN AUTH TOB SETTLEMENT ASSET BACKED REV</name>
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        <name>ARKANSAS ST DEV FIN AUTH ENVIRONMENTAL IMPT REV</name>
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        <name>THE CHARLES SCHWAB CORPORATION</name>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LEES SUMMIT MO INDL DEV AUTH SR LIVING FACS REV</name>
        <lei>N/A</lei>
        <title>LEES SUMMIT MO INDL DEV AUTH S LEES SUMMIT INDUSTRIAL DEVELOPMENT AUTHORITY</title>
        <cusip>524292AS8</cusip>
        <identifiers>
          <isin value="US524292AS87"/>
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        <balance>1050000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>860001.77000000</valUSD>
        <pctVal>0.102007973653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CLIFTON TEX HIGHER ED FIN CORP ED REV</name>
        <lei>N/A</lei>
        <title>CLIFTON TX HGR EDU FIN CORP ED CLIFTON HIGHER EDUCATION FINANCE CORP</title>
        <cusip>187145JT5</cusip>
        <identifiers>
          <isin value="US187145JT58"/>
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        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1251294.75000000</valUSD>
        <pctVal>0.148420673472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FLORIDA DEV FIN CORP REV</name>
        <lei>N/A</lei>
        <title>FLORIDA ST DEV FIN CORP FLORIDA DEVELOPMENT FINANCE CORP</title>
        <cusip>340618DR5</cusip>
        <identifiers>
          <isin value="US340618DR59"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2445697.75000000</valUSD>
        <pctVal>0.290093207188</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATWEST GROUP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NATWEST GROUP PLC 8.125000% MATURITY: PERPETUAL</title>
        <cusip>639057AQ1</cusip>
        <identifiers>
          <isin value="US639057AQ15"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2120536.62000000</valUSD>
        <pctVal>0.251524649379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>NATWEST GROUP PLC</name>
              <title>NWG 8.125 PERP</title>
              <curCd>GBP</curCd>
              <identifiers>
                <isin value="GB00BM8PJY71"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="453.51473922" curCd="GBP"/>
          </currencyInfos>
          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>IOWA FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>IOWA ST FIN AUTH REVENUE IOWA FINANCE AUTHORITY</title>
        <cusip>46247SFU3</cusip>
        <identifiers>
          <isin value="US46247SFU33"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>932179.40000000</valUSD>
        <pctVal>0.110569227870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THE GOLDMAN SACHS GROUP, INC.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The PREFERRED STOCK</title>
        <cusip>38144G804</cusip>
        <identifiers>
          <isin value="US38144G8042"/>
        </identifiers>
        <balance>4166.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>87735.96000000</valUSD>
        <pctVal>0.010406684972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE &amp; ECONOMIC DEV BK REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST INFRASTRUCTURE &amp; CALIFORNIA INFRASTRUCTURE &amp; ECONOMIC DEVELOPMENT B</title>
        <cusip>13034AG87</cusip>
        <identifiers>
          <isin value="US13034AG878"/>
        </identifiers>
        <balance>930000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>523577.54000000</valUSD>
        <pctVal>0.062103458119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LA BANQUE TORONTO-DOMINION</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TORONTO-DOMINION BANK/THE 8.125000% 10/31/2082</title>
        <cusip>89117F8Z5</cusip>
        <identifiers>
          <isin value="US89117F8Z56"/>
        </identifiers>
        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4189324.00000000</valUSD>
        <pctVal>0.496911131030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2082-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>LA BANQUE TORONTO-DOMINION</name>
              <title>TD 8.125 10/31/2082</title>
              <curCd>CAD</curCd>
              <identifiers>
                <cusip value="891160509"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="0.00000000" curCd="CAD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST POLL CONTROL FIN CALIFORNIA POLLUTION CONTROL FINANCING AUTHORITY</title>
        <cusip>130536RK3</cusip>
        <identifiers>
          <isin value="US130536RK39"/>
        </identifiers>
        <balance>3431557.62000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34.32000000</valUSD>
        <pctVal>0.000004070821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>M&amp;T BANK CORPORATION</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp PREFERRED STOCK</title>
        <cusip>55261F872</cusip>
        <identifiers>
          <isin value="US55261F8721"/>
        </identifiers>
        <balance>12841.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>318842.03000000</valUSD>
        <pctVal>0.037819026111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ILLINOIS FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY</title>
        <cusip>45204EFC7</cusip>
        <identifiers>
          <isin value="US45204EFC75"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1006279.30000000</valUSD>
        <pctVal>0.119358489602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP 3.950000% MATURITY: PERPETUAL</title>
        <cusip>14040HCF0</cusip>
        <identifiers>
          <isin value="US14040HCF01"/>
        </identifiers>
        <balance>5300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5144908.22000000</valUSD>
        <pctVal>0.610256490700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2173-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA HSG FIN AGY LTD OBLIG MULTIFAMILY HSG REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA HSG FIN AGY LTD OBL VARIABLE-REF-VOSE APARTMENTS-K</title>
        <cusip>13034DAJ3</cusip>
        <identifiers>
          <isin value="US13034DAJ37"/>
        </identifiers>
        <balance>6200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6223217.14000000</valUSD>
        <pctVal>0.738158678508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MIDA MTN VLG PUB INFRASTRUCTURE DIST UTAH TAX ALLOCATION REV</name>
        <lei>N/A</lei>
        <title>MIDA MOUNTAIN VLG PUBLIC INFRA MIDA MOUNTAIN VILLAGE PUBLIC INFRASTRUCTURE DISTRI</title>
        <cusip>59561UAD2</cusip>
        <identifiers>
          <isin value="US59561UAD28"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1004027.10000000</valUSD>
        <pctVal>0.119091347875</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP 4.375000% MATURITY: PERPETUAL</title>
        <cusip>060505GB4</cusip>
        <identifiers>
          <isin value="US060505GB47"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2905466.10000000</valUSD>
        <pctVal>0.344628022545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-04-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WEST VIRGINIA ST HOSP FIN AUTH HOSP REV</name>
        <lei>N/A</lei>
        <title>WEST VIRGINIA ST HOSP FIN AUTH WEST VIRGINIA HOSPITAL FINANCE AUTHORITY</title>
        <cusip>956622X25</cusip>
        <identifiers>
          <isin value="US956622X251"/>
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        <balance>2100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2231621.07000000</valUSD>
        <pctVal>0.264700784643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>TREASURY BILL 0.000000% 07/31/2025</title>
        <cusip>912797PG6</cusip>
        <identifiers>
          <isin value="US912797PG65"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1986143.20000000</valUSD>
        <pctVal>0.235583751435</pctVal>
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        <isRestrictedSec>N</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>VILLAGE AT DRY CREEK MET DIST NO 2 COLO</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>PUBLIC AUTH FOR COLO ENERGY NAT GAS PUR REV</name>
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        <name>BROADWAY STA MET DIST NO 3 COLO</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>CSCDA CMNTY IMPT AUTH CALIF ESSENTIAL HSG REV</name>
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          <isin value="US126292AX92"/>
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        <curCd>USD</curCd>
        <valUSD>721692.60000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-05-31</ncom:dateSigned>
      <ncom:nameOfApplicant>SEI TAX EXEMPT TRUST</ncom:nameOfApplicant>
      <ncom:signature>Glenn Kurdziel</ncom:signature>
      <ncom:signerName>Glenn Kurdziel</ncom:signerName>
      <ncom:title>Controller and Chief Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
