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        <name>ILLINOIS ST</name>
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        <name>SARASOTA CNTY FLA HEALTH FACS AUTH RETIREMENT FAC REV</name>
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        <name>HOUSTON TEX ARPT SYS REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMORGAN CHASE &amp; CO.</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MONTGOMERY CNTY OHIO SR LIVING REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CALIFORNIA SCH FIN AUTH CHARTER SCH REV</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>LIBERTY N Y DEV CORP REV</name>
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        <invCountry>US</invCountry>

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        <name>HASTINGS CAMPUS HSG FIN AUTH CALIF CAMPUS HSG REV</name>
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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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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <name>TARRANT CNTY TEX CULTURAL ED FACS FIN CORP HOSP REV</name>
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        <title>TARRANT CNTY TX CULTURAL EDU F TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINAN</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2063-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.54999950</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>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>4218000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4164956.54000000</valUSD>
        <pctVal>0.495634989067</pctVal>
        <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>
          <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>SOUTHEAST ENERGY AUTH COOP DIST ALA ENERGY SUPPLY REV</name>
        <lei>N/A</lei>
        <title>SOUTHEAST ENERGY AUTHORITY A C SOUTHEAST ENERGY AUTHORITY A COOPERATIVE DISTRICT</title>
        <cusip>84136HBT9</cusip>
        <identifiers>
          <isin value="US84136HBT95"/>
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        <balance>510000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>529107.15000000</valUSD>
        <pctVal>0.062964406467</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-01</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>
        </securityLending>
      </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>
        <identifiers>
          <isin value="US70868YAW93"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5055068.00000000</valUSD>
        <pctVal>0.601559355746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-30</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF MONTREAL</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
        <title>BANK OF MONTREAL 6.875000% 11/26/2085</title>
        <cusip>06368L8V1</cusip>
        <identifiers>
          <isin value="US06368L8V16"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>813769.60000000</valUSD>
        <pctVal>0.096839590743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2085-11-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>BANK OF MONTREAL</name>
              <title>BMO 6.875 11/26/2085</title>
              <curCd>CAD</curCd>
              <identifiers>
                <cusip value="063671101"/>
              </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>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"/>
        </identifiers>
        <balance>1325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1326096.17000000</valUSD>
        <pctVal>0.157807087398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </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>56035DDP4</cusip>
        <identifiers>
          <isin value="US56035DDP42"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500961.90000000</valUSD>
        <pctVal>0.059615086843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>US TREASURY N/B 4.625000% 04/30/2031</title>
        <cusip>91282CKN0</cusip>
        <identifiers>
          <isin value="US91282CKN01"/>
        </identifiers>
        <balance>7000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7146562.50000000</valUSD>
        <pctVal>0.850449792822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</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>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"/>
        </identifiers>
        <balance>3200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3342115.20000000</valUSD>
        <pctVal>0.397715850022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2082-10-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>THE BANK OF NOVA SCOTIA</name>
              <title>BNS 8.625 10/27/2082</title>
              <curCd>CAD</curCd>
              <identifiers>
                <cusip value="064149107"/>
              </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>BLANCHARD VY PORT AUTH OHIO MULTIFAMILY HSG REV</name>
        <lei>N/A</lei>
        <title>BLANCHARD VLY PORT AUTH OH MF BLANCHARD VALLEY PORT AUTHORITY</title>
        <cusip>093266AA2</cusip>
        <identifiers>
          <isin value="US093266AA28"/>
        </identifiers>
        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1112710.83000000</valUSD>
        <pctVal>0.132413967532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>CITIGROUP INC.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 6.950000% MATURITY: PERPETUAL</title>
        <cusip>17327CAV5</cusip>
        <identifiers>
          <isin value="US17327CAV54"/>
        </identifiers>
        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1272165.00000000</valUSD>
        <pctVal>0.151389211342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2175-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.95000000</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>COREBRIDGE FINANCIAL, INC.</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>COREBRIDGE FINANCIAL INC 6.875000% 12/15/2052</title>
        <cusip>21871XAP4</cusip>
        <identifiers>
          <isin value="US21871XAP42"/>
        </identifiers>
        <balance>950000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>963893.29000000</valUSD>
        <pctVal>0.114704495872</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</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>CHICAGO ILL WASTEWATER TRANSMISSION REV</name>
        <lei>N/A</lei>
        <title>CHICAGO IL WSTWTR TRANSMISSION CITY OF CHICAGO IL WASTEWATER TRANSMISSION REVENUE</title>
        <cusip>167727C46</cusip>
        <identifiers>
          <isin value="US167727C463"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1037462.00000000</valUSD>
        <pctVal>0.123459263521</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-01-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN ST FIN AUTH REVENUE MICHIGAN FINANCE AUTHORITY</title>
        <cusip>59447TJ20</cusip>
        <identifiers>
          <isin value="US59447TJ202"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1345900.00000000</valUSD>
        <pctVal>0.160163767707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KANSAS ST DEV FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>KANSAS ST DEV FIN AUTH REVENUE KANSAS DEVELOPMENT FINANCE AUTHORITY</title>
        <cusip>48542RCA0</cusip>
        <identifiers>
          <isin value="US48542RCA05"/>
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        <balance>1025000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>923288.64000000</valUSD>
        <pctVal>0.109872492209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIRGINIA SMALL BUSINESS FING AUTH PRIVATE ACTIVITY REV</name>
        <lei>N/A</lei>
        <title>VIRGINIA SMALL BUSINESS FING A VIRGINIA SMALL BUSINESS FINANCING AUTHORITY</title>
        <cusip>928097AB0</cusip>
        <identifiers>
          <isin value="US928097AB03"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1486796.70000000</valUSD>
        <pctVal>0.176930649593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANADA 6.500000% 11/24/2085</title>
        <cusip>780082AY9</cusip>
        <identifiers>
          <isin value="US780082AY99"/>
        </identifiers>
        <balance>4600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4515691.20000000</valUSD>
        <pctVal>0.537372848203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2085-11-24</maturityDt>
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        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REV</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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        <name>THE GOLDMAN SACHS GROUP, INC.</name>
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        <name>PUBLIC FIN AUTH WIS REV</name>
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        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV</name>
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        <name>TOBACCO SECURITIZATION AUTH SOUTHN CALIF TOB SETTLEMENT REV</name>
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        <name>BALDWIN CNTY ALA INDL DEV AUTH SOLID WASTE DISP REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>UNIVERSITY OREGON GEN REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>PUERTO RICO ELEC PWR AUTH PWR REV</name>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>UTAH ST CHARTER SCH FIN AUTH CHARTER SCH REV</name>
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          <isin value="US91754TH304"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>TROUT CREEK CMNTY DEV DIST FLA CAP IMPT REV</name>
        <lei>N/A</lei>
        <title>TROUT CREEK CDD FL CAPITAL IMP TROUT CREEK COMMUNITY DEVELOPMENT DISTRICT</title>
        <cusip>897188AE8</cusip>
        <identifiers>
          <isin value="US897188AE80"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>CAPITAL TR AGY FLA EDL FACS REV</name>
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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>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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        <name>SOCIETE GENERALE SA</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>ING Groep N.V.</name>
        <lei>549300NYKK9MWM7GGW15</lei>
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          <isin value="US456837BT90"/>
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        <balance>2400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2469064.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
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              <title>INGA 7 PERP</title>
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      <invstOrSec>
        <name>ULSTER CNTY N Y CAP RESOURCE CORP REV</name>
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          <isin value="US903768AG41"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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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>64542PBW4</cusip>
        <identifiers>
          <isin value="US64542PBW41"/>
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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>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>WISCONSIN ST HEALTH &amp; EDL FACS AUTH REV</name>
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        <cusip>97712DP42</cusip>
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          <isin value="US97712DP428"/>
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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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      <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>126292AS0</cusip>
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          <isin value="US126292AS08"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>JPMORGAN CHASE &amp; CO.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>DELAWARE ST ECONOMIC DEV AUTH RETIREMENT CMNTYS REV</name>
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        <name>GDB DEBT RECOVERY AUTH OF COMWLTH PUERTO RICO</name>
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        <title>GDB DEBT RECOVERY AUTH OF CMWL GDB DEBT RECOVERY AUTHORITY OF PUERTO RICO</title>
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        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>PUBLIC FIN AUTH WIS EDL FAC REV</name>
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        <issuerCat>MUN</issuerCat>
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        <name>PUBLIC FIN AUTH WIS RETIREMENT FAC REV</name>
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        <title>PUBLIC FIN AUTH WI RETMNT FAC PUBLIC FINANCE AUTHORITY</title>
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          <isin value="US74444VAW00"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>PUBLIC FIN AUTH WIS EDL FAC REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <name>SOUTH SALT LAKE UTAH REDEV AGY TAX INCREMENT REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>TOBACCO SETTLEMENT FING CORP RHODE IS</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CITIGROUP INC.</name>
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        <name>CLEVELAND TENN HEALTH &amp; EDL FACS BRD MULTIFAMILY HSG REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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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>ARCH CAPITAL GROUP LTD.</name>
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        <name>CANADIAN IMPERIAL BANK OF COMMERCE</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>POWAY CALIF UNI SCH DIST</name>
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        <name>THE PNC FINANCIAL SERVICES GROUP, INC.</name>
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        <valUSD>2144576.70000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SOLEIL HILLS PUB INFRASTRUCTURE DIST NO 1 UTAH</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH REV</name>
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        <title>CONNECTICUT ST HLTH &amp; EDUCTNL CONNECTICUT STATE HEALTH &amp; EDUCATIONAL FACILITIES</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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        <name>COLORADO INTL CTR MET DIST NO 7</name>
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        <name>CITIGROUP INC.</name>
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        <name>STANDARD CHARTERED PLC</name>
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        <name>DOMINION WTR &amp; SANTN DIST COLO REV</name>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CSCDA CMNTY IMPT AUTH CALIF ESSENTIAL HSG REV</name>
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          <couponKind>Fixed</couponKind>
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        <name>NEW HOPE CULTURAL ED FACS FIN CORP TEX SR LIVING REV</name>
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        <title>NEW HOPE CULTURAL EDU FACS FIN NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE COR</title>
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        <issuerCat>MUN</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>Nomura Holdings, Inc.</name>
        <lei>549300B3CEAHYG7K8164</lei>
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        <cusip>65535HCC1</cusip>
        <identifiers>
          <isin value="US65535HCC16"/>
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        <valUSD>1237116.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2175-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <name>ARLINGTON TEX HIGHER ED FIN CORP ED REV</name>
        <lei>N/A</lei>
        <title>ARLINGTON TX HGR EDU FIN CORP ARLINGTON HIGHER EDUCATION FINANCE CORP</title>
        <cusip>041807PV4</cusip>
        <identifiers>
          <isin value="US041807PV47"/>
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        <valUSD>1518450.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <cusip>06055HAH6</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>The Bank of New York Mellon Corporation</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
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        <cusip>064058AS9</cusip>
        <identifiers>
          <isin value="US064058AS96"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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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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        <pctVal>0.119125274093</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>NORTHERN TRUST CORPORATION</name>
        <lei>549300GLF98S992BC502</lei>
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        <cusip>665859AQ7</cusip>
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          <isin value="US665859AQ77"/>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>CHARLOTTE-MECKLENBERG HOSP AUTH N C HEALTH CARE SYS REV</name>
        <lei>N/A</lei>
        <title>CHARLOTTE-MECKLENBURG NC HOSP CHARLOTTE-MECKLENBURG HOSPITAL AUTHORITY/THE</title>
        <cusip>160853MR5</cusip>
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          <isin value="US160853MR54"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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          <couponKind>Floating</couponKind>
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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>
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          <isin value="US744320BP63"/>
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        <valUSD>1029819.00000000</valUSD>
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        <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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          <isNonCashCollateral>N</isNonCashCollateral>
          <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>
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        <valUSD>918519.17000000</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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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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>
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          <isin value="US929089AG55"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1761446.50000000</valUSD>
        <pctVal>0.209614316112</pctVal>
        <payoffProfile>Long</payoffProfile>
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        <name>ANCHORAGE ALASKA SOLID WASTE SVCS REV</name>
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        <name>TOBACCO SETTLEMENT FING CORP N J</name>
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      <invstOrSec>
        <name>National Finance Authority</name>
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        <name>HENRICO CNTY VA ECONOMIC DEV AUTH RESIDENTIAL CARE FAC REV</name>
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        <name>MINNEAPOLIS MINN CHARTER SCH LEASE REV</name>
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        <name>VIRGINIA SMALL BUSINESS FING AUTH HEALTHCARE FACS REV</name>
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        <name>IOWA FIN AUTH SR LIVING FAC REV</name>
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        <name>LOWER NECHES VALLEY AUTH TEX INDL DEV CORP REV</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>NEW JERSEY ECONOMIC DEV AUTH ECONOMIC DEV REV</name>
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      <invstOrSec>
        <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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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FRANKLIN CNTY OHIO CONVENTION FACS AUTH HOTEL PROJ REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CREDIT AGRICOLE SA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2174-12-23</maturityDt>
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            <dbtSecRefInstrument>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.25000000</annualizedRt>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>MUNICIPAL ELEC AUTH GA</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>GRAND FORKS CNTY N D SOLID WASTE DISP FAC REV</name>
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        <title>GRAND FORKS CNTY ND COUNTY OF GRAND FORKS ND</title>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REV</name>
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        <cusip>74529JRJ6</cusip>
        <identifiers>
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        <balance>800000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.32900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>TOB SECURITIZATION AUTH NORTHN CALIF TOB SETTLEMENT REV</name>
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        <cusip>888794CA0</cusip>
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        <issuerCat>MUN</issuerCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>ST LOUIS MO LD CLEARANCE REDEV AUTH ANNUAL APPROPRIATION REDEV REV</name>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>DENTON ESSENTIAL INVTS PFC TEX ESSENTIAL FUNCTION HSG DEV REV</name>
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        <name>METLIFE, INC.</name>
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        <title>MetLife Inc PREFERRED STOCK</title>
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        <name>BRAZORIA CNTY TEX INDL DEV CORP SOLID WASTE DISP FACS REV</name>
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        <name>Freddie Mac</name>
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        <title>FREDDIE MAC POOL FR WE6090</title>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

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        <name>NEW JERSEY ST EDL FACS AUTH REV</name>
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        <issuerCat>MUN</issuerCat>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      </invstOrSec>
      <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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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <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>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC 9.625000% MATURITY: PERPETUAL</title>
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          <isin value="US06738ECN31"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>BARCLAYS PLC</name>
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                <isin value="GB0031348658"/>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BENLOCH RANCH IMPROVEMENT ASSOCIATION NO 2 144A 10.000000% 12/01/2051</title>
        <cusip>082149AA3</cusip>
        <identifiers>
          <isin value="US082149AA32"/>
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        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4431396.00000000</valUSD>
        <pctVal>0.527341614953</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</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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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK TRANSN DEV CORP SPL FAC REV</name>
        <lei>N/A</lei>
        <title>NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP</title>
        <cusip>650116CM6</cusip>
        <identifiers>
          <isin value="US650116CM62"/>
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        <balance>4085000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4173880.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC FIN AUTH WIS SPL REV</name>
        <lei>N/A</lei>
        <title>PUBLIC FIN AUTH WI SPL REVENUE PUBLIC FINANCE AUTHORITY</title>
        <cusip>74447TAA0</cusip>
        <identifiers>
          <isin value="US74447TAA07"/>
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        <balance>321000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>251851.14000000</valUSD>
        <pctVal>0.029970597729</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</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>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH RE CALIFORNIA MUNICIPAL FINANCE AUTHORITY</title>
        <cusip>13048TG23</cusip>
        <identifiers>
          <isin value="US13048TG233"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>974858.20000000</valUSD>
        <pctVal>0.116009333749</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO ILL BRD ED</name>
        <lei>N/A</lei>
        <title>CHICAGO IL BRD OF EDU CHICAGO BOARD OF EDUCATION</title>
        <cusip>167505C38</cusip>
        <identifiers>
          <isin value="US167505C380"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>545288.85000000</valUSD>
        <pctVal>0.064890048818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</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>Federal Home Loan Mortgage Corporation</name>
        <lei>N/A</lei>
        <title>FEDERAL HOME LOAN MTGE CORP MU FREDDIE MAC MULTIFAMILY ML CERTIFICATES</title>
        <cusip>3137HBCD4</cusip>
        <identifiers>
          <isin value="US3137HBCD43"/>
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        <balance>5791689.79000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5762588.87000000</valUSD>
        <pctVal>0.685755215967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.55500080</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>U.S. BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp PREFERRED STOCK</title>
        <cusip>902973866</cusip>
        <identifiers>
          <isin value="US9029738666"/>
        </identifiers>
        <balance>500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>385505.00000000</valUSD>
        <pctVal>0.045875572680</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>BUILD NYC RESOURCE CORP N Y REV</name>
        <lei>N/A</lei>
        <title>BUILD NYC RESOURCE CORP NY REV BUILD NYC RESOURCE CORP</title>
        <cusip>12008ELR5</cusip>
        <identifiers>
          <isin value="US12008ELR52"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1477483.50000000</valUSD>
        <pctVal>0.175822367253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
          <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>MISSOURI ST HEALTH &amp; EDL FACS AUTH EDL FACS REV</name>
        <lei>N/A</lei>
        <title>MISSOURI ST HLTH &amp; EDUCTNL FAC HEALTH &amp; EDUCATIONAL FACILITIES AUTHORITY OF THE S</title>
        <cusip>60636AXY4</cusip>
        <identifiers>
          <isin value="US60636AXY45"/>
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        <balance>350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>348962.22000000</valUSD>
        <pctVal>0.041526936579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</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>NORTHERN TOB SECURITIZATION CORP ALASKA TOB SETTLEMENT REV</name>
        <lei>N/A</lei>
        <title>NTHRN AK TOBACCO SECURITIZATIO NORTHERN TOBACCO SECURITIZATION CORP</title>
        <cusip>66585VCB9</cusip>
        <identifiers>
          <isin value="US66585VCB99"/>
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        <balance>10900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1244122.73000000</valUSD>
        <pctVal>0.148052146465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-06-01</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>
        </securityLending>
      </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>649519DC6</cusip>
        <identifiers>
          <isin value="US649519DC68"/>
        </identifiers>
        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4002723.20000000</valUSD>
        <pctVal>0.476329020583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-15</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>
        </securityLending>
      </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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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000804.80000000</valUSD>
        <pctVal>0.119097011299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-15</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>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>
        <identifiers>
          <isin value="US939783WH56"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299941.11000000</valUSD>
        <pctVal>0.035693363747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</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>NORTH EAST TEX REGL MOBILITY AUTH REV</name>
        <lei>N/A</lei>
        <title>NORTH EAST TX REGL MOBILITY AU NORTH EAST TEXAS REGIONAL MOBILITY AUTHORITY</title>
        <cusip>659231CC6</cusip>
        <identifiers>
          <isin value="US659231CC65"/>
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        <balance>325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>328615.92000000</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>2027-01-01</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>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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        <balance>3100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3347644.12000000</valUSD>
        <pctVal>0.398373798353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>KENTUCKY ECONOMIC DEV FIN AUTH HEALTH CARE REV</name>
        <lei>N/A</lei>
        <title>KENTUCKY ST ECON DEV FIN AUTH KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY</title>
        <cusip>49126TAX0</cusip>
        <identifiers>
          <isin value="US49126TAX00"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>711843.50000000</valUSD>
        <pctVal>0.084710258546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH ECONOMIC DEV REV</name>
        <lei>N/A</lei>
        <title>SOUTH CAROLINA ST JOBS-ECON DE SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY</title>
        <cusip>837031J79</cusip>
        <identifiers>
          <isin value="US837031J796"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>765614.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</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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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRISTOL TENN INDL DEV BRD TAX INCREMENT REV</name>
        <lei>N/A</lei>
        <title>BRISTOL TN INDL DEV BRD TAX IN BRISTOL INDUSTRIAL DEVELOPMENT BOARD</title>
        <cusip>11023QAB8</cusip>
        <identifiers>
          <isin value="US11023QAB86"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1766114.20000000</valUSD>
        <pctVal>0.210169778196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp PREFERRED STOCK</title>
        <cusip>316773605</cusip>
        <identifiers>
          <isin value="US3167736053"/>
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        <balance>49904.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1276544.32000000</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK TRANSN DEV CORP SPL FAC REV</name>
        <lei>N/A</lei>
        <title>NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP</title>
        <cusip>650116GN0</cusip>
        <identifiers>
          <isin value="US650116GN00"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2206110.80000000</valUSD>
        <pctVal>0.262529918797</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>MONROE CNTY N Y INDL DEV CORP REV</name>
        <lei>N/A</lei>
        <title>MONROE CNTY NY INDL DEV CORP R MONROE COUNTY INDUSTRIAL DEVELOPMENT CORP/NY</title>
        <cusip>61075TUG1</cusip>
        <identifiers>
          <isin value="US61075TUG11"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1501484.40000000</valUSD>
        <pctVal>0.178678504092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-01</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>CITIGROUP INC.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 7.000000% MATURITY: PERPETUAL</title>
        <cusip>172967PM7</cusip>
        <identifiers>
          <isin value="US172967PM70"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1554932.73000000</valUSD>
        <pctVal>0.185038921590</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</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>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>56035DKH4</cusip>
        <identifiers>
          <isin value="US56035DKH43"/>
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        <balance>1700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1800077.98000000</valUSD>
        <pctVal>0.214211510100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PENNSYLVANIA ST HIGHER EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>PENNSYLVANIA ST HGR EDUCTNL FA PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORI</title>
        <cusip>70917S6Z1</cusip>
        <identifiers>
          <isin value="US70917S6Z14"/>
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        <balance>1210000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1233885.40000000</valUSD>
        <pctVal>0.146833891510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-15</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>DISTRICT COLUMBIA REV</name>
        <lei>N/A</lei>
        <title>DIST OF COLUMBIA REVENUE DISTRICT OF COLUMBIA</title>
        <cusip>25483VXR0</cusip>
        <identifiers>
          <isin value="US25483VXR04"/>
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        <balance>650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>601433.43000000</valUSD>
        <pctVal>0.071571323407</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>TAKE BACK &amp; EXIT FACILITY 10/21/2027</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="All Others" value="WHLN369F"/>
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        <balance>11700093.36000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9424507.10000000</valUSD>
        <pctVal>1.121528022828</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="TAKE BACK &amp; EXIT FACILITY"/>
        <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>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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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10.00000000</valUSD>
        <pctVal>0.000001190012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS GROUP AG 144A 9.250000% MATURITY: PERPETUAL</title>
        <cusip>902613BE7</cusip>
        <identifiers>
          <isin value="US902613BE74"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1154548.00000000</valUSD>
        <pctVal>0.137392642603</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2175-05-13</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>
      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC 6.000000% MATURITY: PERPETUAL</title>
        <cusip>404280BL2</cusip>
        <identifiers>
          <isin value="US404280BL25"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1506358.50000000</valUSD>
        <pctVal>0.179258528032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>HSBC HOLDINGS PLC</name>
              <title>HSBA 6 PERP</title>
              <curCd>GBP</curCd>
              <identifiers>
                <isin value="GB0005405286"/>
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          <currencyInfos>
            <currencyInfo convRatio="287.36457944" curCd="GBP"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MIAMI-DADE CNTY FLA WTR &amp; SWR REV</name>
        <lei>N/A</lei>
        <title>MIAMI-DADE CNTY FL WTR &amp; SWR R COUNTY OF MIAMI-DADE FL WATER &amp; SEWER SYSTEM REVEN</title>
        <cusip>59334DLV4</cusip>
        <identifiers>
          <isin value="US59334DLV46"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3626511.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3577802.20000000</valUSD>
        <pctVal>0.425762895063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
          <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 YORK CNTYS TOB TR IV</name>
        <lei>N/A</lei>
        <title>NEW YORK CNTYS NY TOBACCO TRUS NEW YORK COUNTIES TOBACCO TRUST IV</title>
        <cusip>62947YAJ0</cusip>
        <identifiers>
          <isin value="US62947YAJ01"/>
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        <balance>57000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4836370.20000000</valUSD>
        <pctVal>0.575534046557</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>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>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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1854464.60000000</valUSD>
        <pctVal>0.220683585271</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <name>NEW HOPE CULTURAL ED FACS FIN CORP TEX SR LIVING REV</name>
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        <name>VIRGINIA SMALL BUSINESS FING AUTH EDL FACS REV</name>
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        <name>OHIO HSG FIN AGY MULTIFAMILY HSG REV</name>
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        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>MISSOURI ST DEV FIN BRD REV</name>
        <lei>N/A</lei>
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          <isin value="US60636VDD64"/>
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        <fairValLevel>2</fairValLevel>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2175-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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        <name>CALIFORNIA STATEWIDE FING AUTH TOBACCO SETTLEMENT</name>
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        <cusip>130923AQ8</cusip>
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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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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>CHICAGO ILL BRD ED</name>
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        <title>CHICAGO IL BRD OF EDU CHICAGO BOARD OF EDUCATION</title>
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          <isin value="US167505ZM10"/>
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        <valUSD>2065828.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
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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>
        <cusip>973517JA4</cusip>
        <identifiers>
          <isin value="US973517JA45"/>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1316537.82000000</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>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <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>
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          <isin value="US528734AK25"/>
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        <balance>118000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>59000.00000000</valUSD>
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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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>MUSKINGUM CNTY OHIO HOSP FACS REV</name>
        <lei>N/A</lei>
        <title>MUSKINGUM CNTY OH HOSP FACS COUNTY OF MUSKINGUM OH</title>
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        <identifiers>
          <isin value="US628077CK34"/>
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        <curCd>USD</curCd>
        <valUSD>476870.15000000</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>5.00000000</annualizedRt>
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        <name>KING CNTY WASH PUB HOSP DIST NO 004 HOSP REV</name>
        <lei>N/A</lei>
        <title>KING CNTY WA PUBLIC HOSP DIST KING COUNTY PUBLIC HOSPITAL DISTRICT NO 4</title>
        <cusip>494796AG0</cusip>
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          <isin value="US494796AG05"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <name>FARM CREDIT BANK OF TEXAS</name>
        <lei>V1EBJIOLRNYDHDF63Z33</lei>
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        <cusip>30767EAF6</cusip>
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          <isin value="US30767EAF60"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <name>HIGHER EDL FACS FING AUTH FLA HIGHER EDL FACS REV</name>
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        <title>HGR EDU FACS FING AUTH FL HGR FLORIDA HIGHER EDUCATIONAL FACILITIES FINANCING AU</title>
        <cusip>42982GAB4</cusip>
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        <issuerCat>MUN</issuerCat>
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        <name>CREDIT AGRICOLE SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>

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        <name>N/A</name>
        <lei>N/A</lei>
        <title>SEI DAILY INCOME TRUST GOVERNMENT FUND (#36)</title>
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        <fairValLevel>1</fairValLevel>
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        <name>ENTERGY TEXAS, INC.</name>
        <lei>LWXX58X12AJXISQ28573</lei>
        <title>Entergy Texas Inc PREFERRED STOCK</title>
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        <name>CoBank, ACB</name>
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        <name>NEW JERSEY ECONOMIC DEV AUTH MTR VEH SURCHARGES REV</name>
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        <title>NEW JERSEY ST ECON DEV AUTH MT NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY</title>
        <cusip>64578JBA3</cusip>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>3.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <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>4346308.00000000</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>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <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>
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          <isin value="US12574WAB63"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>989696.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UMB FINANCIAL CORPORATION</name>
        <lei>549300MGEH3N3CUCV828</lei>
        <title>UMB Financial Corp PREFERRED STOCK</title>
        <cusip>902788405</cusip>
        <identifiers>
          <isin value="US9027884058"/>
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        <balance>36600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>986004.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DIRECTOR ST NEV DEPT BUSINESS &amp; IND ENVIRONMENTAL IMPT REV</name>
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        <title>DIRECTOR OF THE ST OF NEVADA D STATE OF NEVADA DEPARTMENT OF BUSINESS &amp; INDUSTRY</title>
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          <isin value="US25461PAE34"/>
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        <curCd>USD</curCd>
        <valUSD>26.88000000</valUSD>
        <pctVal>0.000003198753</pctVal>
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        <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>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>NEW YORK TRANSN DEV CORP SPL FAC REV</name>
        <lei>N/A</lei>
        <title>NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP</title>
        <cusip>650116JS6</cusip>
        <identifiers>
          <isin value="US650116JS69"/>
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        <balance>2540000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2616674.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-06-30</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>
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      <invstOrSec>
        <name>NEW YORK ST URBAN DEV CORP ST SALES TAX REV</name>
        <lei>N/A</lei>
        <title>NEW YORK ST URBAN DEV CORP SAL EMPIRE STATE DEVELOPMENT CORP</title>
        <cusip>64985TEV9</cusip>
        <identifiers>
          <isin value="US64985TEV98"/>
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        <curCd>USD</curCd>
        <valUSD>3599851.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-03-15</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>MINNEAPOLIS MINN CHARTER SCH LEASE REV</name>
        <lei>N/A</lei>
        <title>MINNEAPOLIS MN CHARTER SCH LEA CITY OF MINNEAPOLIS MN</title>
        <cusip>60375CAU8</cusip>
        <identifiers>
          <isin value="US60375CAU80"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>752809.13000000</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>2032-12-01</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>IOWA FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>IOWA ST FIN AUTH REVENUE IOWA FINANCE AUTHORITY</title>
        <cusip>46247SCZ5</cusip>
        <identifiers>
          <isin value="US46247SCZ56"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1695071.60000000</valUSD>
        <pctVal>0.201715620767</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COLUMBUS-FRANKLIN CNTY OHIO FIN AUTH MULTIFAMILY HSG REV</name>
        <lei>N/A</lei>
        <title>COLUMBUS-FRANKLIN CNTY OH FIN COLUMBUS-FRANKLIN COUNTY FINANCE AUTHORITY</title>
        <cusip>19910XAS5</cusip>
        <identifiers>
          <isin value="US19910XAS53"/>
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        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>904612.41000000</valUSD>
        <pctVal>0.107649997697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.30000000</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>INDEPENDENCE MINN CHARTER SCH LEASE REV</name>
        <lei>N/A</lei>
        <title>INDEPENDENCE MN CHRT SCH LEASE CITY OF INDEPENDENCE MN</title>
        <cusip>45362RAA5</cusip>
        <identifiers>
          <isin value="US45362RAA59"/>
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        <balance>165000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>164881.04000000</valUSD>
        <pctVal>0.019621048064</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>4.25000000</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>OHIO HSG FIN AGY MULTIFAMILY HSG REV</name>
        <lei>N/A</lei>
        <title>OHIO ST HSG FIN AGY MF HSG REV OHIO HOUSING FINANCE AGENCY</title>
        <cusip>676900YT4</cusip>
        <identifiers>
          <isin value="US676900YT49"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>713667.43000000</valUSD>
        <pctVal>0.084927308476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-01</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>
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      <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>54628CER9</cusip>
        <identifiers>
          <isin value="US54628CER97"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>620000.28000000</valUSD>
        <pctVal>0.073780801563</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CAPITAL TR AUTH FLA REV</name>
        <lei>N/A</lei>
        <title>CAPITAL TRUST AUTH FL REVENUE CAPITAL TRUST AUTHORITY</title>
        <cusip>14055AAF9</cusip>
        <identifiers>
          <isin value="US14055AAF93"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>308686.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <cusip>95002YAE3</cusip>
        <identifiers>
          <isin value="US95002YAE32"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3024183.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</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>FIRST HORIZON CORPORATION</name>
        <lei>TF3RXI1ZB1TQ30H9JV10</lei>
        <title>First Horizon Corp PREFERRED STOCK</title>
        <cusip>320517840</cusip>
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          <isin value="US3205178409"/>
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        <balance>45658.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1139167.10000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PHILADELPHIA PA AUTH FOR INDL DEV MULTIFAMILY REV</name>
        <lei>N/A</lei>
        <title>PHILADELPHIA PA AUTH FOR INDL PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT</title>
        <cusip>717908AM9</cusip>
        <identifiers>
          <isin value="US717908AM97"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2024523.40000000</valUSD>
        <pctVal>0.240920793191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC 6.750000% MATURITY: PERPETUAL</title>
        <cusip>404280FR5</cusip>
        <identifiers>
          <isin value="US404280FR58"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301277.70000000</valUSD>
        <pctVal>0.035852419613</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-11-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
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        <name>CSCDA CMNTY IMPT AUTH CALIF ESSENTIAL HSG REV</name>
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        <name>PASSAIC CNTY N J IMPT AUTH CHARTER SCH REV</name>
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        <name>REGIONS FINANCIAL CORPORATION</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
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        <name>MARYLAND ST HEALTH &amp; HIGHER EDL FACS AUTH REV</name>
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        <name>WYANDOTTE CNTY KANS CITY KANS UNI GOVT SPL OBLIG REV</name>
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          <isin value="US98267VCM37"/>
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        <name>WASHINGTON ST HSG FIN COMMN NONPROFIT HSG REV</name>
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        <title>WASHINGTON ST HSG FIN COMMISSI WASHINGTON STATE HOUSING FINANCE COMMISSION</title>
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          <isin value="US939783WJ13"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>HIGHER EDL FACS FING AUTH FLA HIGHER EDL FACS REV</name>
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        <title>HGR EDU FACS FING AUTH FL HGR FLORIDA HIGHER EDUCATIONAL FACILITIES FINANCING AU</title>
        <cusip>42982GAC2</cusip>
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          <isin value="US42982GAC24"/>
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        <curCd>USD</curCd>
        <valUSD>303985.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>AT&amp;T INC.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc PREFERRED STOCK</title>
        <cusip>00206R706</cusip>
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          <isin value="US00206R7061"/>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANADA 6.350000% 11/24/2084</title>
        <cusip>780082AT0</cusip>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>482679.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2084-11-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.35000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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      <invstOrSec>
        <name>Banco Santander, S.A.</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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      <invstOrSec>
        <name>TOBACCO SETTLEMENT AUTH IOWA TOB SETTLEMENT REV</name>
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        <cusip>888805CJ5</cusip>
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          <isin value="US888805CJ51"/>
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        <invCountry>US</invCountry>

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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>NEW YORK TRANSN DEV CORP SPL FAC REV</name>
        <lei>N/A</lei>
        <title>NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP</title>
        <cusip>650116HT6</cusip>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>HEMPSTEAD TOWN N Y LOC DEV CORP ED REV</name>
        <lei>N/A</lei>
        <title>HEMPSTEAD TOWN NY LOCAL DEV CO HEMPSTEAD TOWN LOCAL DEVELOPMENT CORP</title>
        <cusip>424685AW5</cusip>
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          <isin value="US424685AW55"/>
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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>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH SR LIVING REV</name>
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        <title>SOUTH CAROLINA ST JOBS-ECON DE SOUTH CAROLINA JOBS-ECONOMIC DEVELOPMENT AUTHORITY</title>
        <cusip>83704KAB6</cusip>
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          <isin value="US83704KAB61"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>519800.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>MARYLAND ST ECONOMIC DEV CORP PRIVATE ACTIVITY REV</name>
        <lei>N/A</lei>
        <title>MARYLAND ST ECON DEV CORP PRIV MARYLAND ECONOMIC DEVELOPMENT CORP</title>
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          <isin value="US57422JCA43"/>
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        <balance>625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>625500.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>BLYTHE TWP PA SOLID WASTE AUTH REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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      <invstOrSec>
        <name>BRAZORIA CNTY TEX INDL DEV CORP SOLID WASTE DISP FACS REV</name>
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        <cusip>10604PAB9</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
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        <name>Federal Home Loan Mortgage Corporation</name>
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          <isin value="US3137HB2V56"/>
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        <curCd>USD</curCd>
        <valUSD>5014479.01000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <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>10604PAC7</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <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>
        <cusip>74443DGN5</cusip>
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          <isin value="US74443DGN57"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <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>LEES SUMMIT MO INDL DEV AUTH SR LIVING FACS REV</name>
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          <isin value="US524292BQ13"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <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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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK ENERGY FIN DEV CORP ENERGY SUPPLY REV</name>
        <lei>N/A</lei>
        <title>NEW YORK ENERGY FIN DEV CORP NEW YORK ENERGY FINANCE DEVELOPMENT CORP</title>
        <cusip>64947PAA4</cusip>
        <identifiers>
          <isin value="US64947PAA49"/>
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        <balance>1950000.00000000</balance>
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        <valUSD>2016380.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>FLORIDA DEV FIN CORP EDL FACS REV</name>
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        <cusip>34061UHH4</cusip>
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        <balance>765000.00000000</balance>
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        <valUSD>542396.86000000</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>2056-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>METROPOLITAN TRANSN AUTH N Y REV</name>
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        <cusip>59261AX77</cusip>
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          <isin value="US59261AX778"/>
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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>2.79999895</annualizedRt>
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        <name>NORTH CAROLINA HSG FIN AGY HOMEOWNERSHIP REV</name>
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        <cusip>6582077Q2</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <name>WASHINGTON ST HSG FIN COMMN</name>
        <lei>N/A</lei>
        <title>WASHINGTON STATE HOUSING FINANCE COMMISSION WSHFC 2025-1 A2</title>
        <cusip>93978UDU7</cusip>
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          <isin value="US93978UDU79"/>
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        <assetCat>ABS-MBS</assetCat>
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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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        <title>ANGELINA &amp; NECHES RIVER AUTH I ANGELINA &amp; NECHES RIVER AUTHORITY</title>
        <cusip>03469KAG8</cusip>
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          <isin value="US03469KAG85"/>
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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>12.00000000</annualizedRt>
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        <name>SARASOTA CNTY FLA HEALTH FACS AUTH RETIREMENT FAC REV</name>
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        <cusip>80329UBG3</cusip>
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          <isin value="US80329UBG31"/>
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        <balance>510000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>PINERY COML MET DIST NO 2 COLO SPL REV</name>
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        <cusip>72330FAA4</cusip>
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          <isin value="US72330FAA49"/>
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        <balance>500000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KEYCORP</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp PREFERRED STOCK</title>
        <cusip>493267843</cusip>
        <identifiers>
          <isin value="US4932678430"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>379050.00000000</valUSD>
        <pctVal>0.045107419681</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>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>13013JFS0</cusip>
        <identifiers>
          <isin value="US13013JFS06"/>
        </identifiers>
        <balance>850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>873832.05000000</valUSD>
        <pctVal>0.103987096717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK TRANSN DEV CORP SPL FAC REV</name>
        <lei>N/A</lei>
        <title>NEW YORK ST TRANSPRTN DEV CORP NEW YORK TRANSPORTATION DEVELOPMENT CORP</title>
        <cusip>650116GW0</cusip>
        <identifiers>
          <isin value="US650116GW09"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2108555.60000000</valUSD>
        <pctVal>0.250920729116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
          <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 TRANSN COMMN</name>
        <lei>N/A</lei>
        <title>TEXAS ST TRANSPRTN COMMISSION TEXAS TRANSPORTATION COMMISSION</title>
        <cusip>882830CY6</cusip>
        <identifiers>
          <isin value="US882830CY62"/>
        </identifiers>
        <balance>3400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3751049.66000000</valUSD>
        <pctVal>0.446379557474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUNTINGTON BANCSHARES INCORPORATED</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>HUNTINGTON BANCSHARES INC/OH 6.250000% MATURITY: PERPETUAL</title>
        <cusip>446150BG8</cusip>
        <identifiers>
          <isin value="US446150BG87"/>
        </identifiers>
        <balance>1750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1750196.00000000</valUSD>
        <pctVal>0.208275492671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2175-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>MIDTOWN MIAMI CMNTY DEV DIST FLA SPL ASSMT REV</name>
        <lei>N/A</lei>
        <title>MIDTOWN MIAMI FL CDD SPL ASSMN MIDTOWN MIAMI COMMUNITY DEVELOPMENT DISTRICT</title>
        <cusip>59807PAE5</cusip>
        <identifiers>
          <isin value="US59807PAE51"/>
        </identifiers>
        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1250590.00000000</valUSD>
        <pctVal>0.148821759609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <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>
        <identifiers>
          <isin value="US091081DN68"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>787336.64000000</valUSD>
        <pctVal>0.093694035750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MASSACHUSETTS ST</name>
        <lei>N/A</lei>
        <title>MASSACHUSETTS ST COMMONWEALTH OF MASSACHUSETTS</title>
        <cusip>57582THU9</cusip>
        <identifiers>
          <isin value="US57582THU97"/>
        </identifiers>
        <balance>3900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4050742.02000000</valUSD>
        <pctVal>0.482043319663</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>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AXIS CAPITAL HOLDINGS LIMITED</name>
        <lei>635400VD2NQBYAHMEM55</lei>
        <title>Axis Capital Holdings Ltd PREFERRED STOCK</title>
        <cusip>05461T305</cusip>
        <identifiers>
          <isin value="US05461T3059"/>
        </identifiers>
        <balance>20955.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>409670.25000000</valUSD>
        <pctVal>0.048751267373</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>Washington State Housing Finance Commission</name>
        <lei>N/A</lei>
        <title>WASHINGTON ST HSG FIN COMMISSI WASHINGTON STATE HOUSING FINANCE COMMISSION</title>
        <cusip>93978T4M8</cusip>
        <identifiers>
          <isin value="US93978T4M89"/>
        </identifiers>
        <balance>2627780.87000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2456442.20000000</valUSD>
        <pctVal>0.292319665583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</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>HARVEST CROSSING MET DIST NO 4 COLO</name>
        <lei>N/A</lei>
        <title>HARVEST CROSSING MET DIST #4 C HARVEST CROSSING METROPOLITAN DISTRICT NO 4</title>
        <cusip>41753TAA7</cusip>
        <identifiers>
          <isin value="US41753TAA79"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1502435.70000000</valUSD>
        <pctVal>0.178791709971</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY MASS BLDG AUTH REV</name>
        <lei>N/A</lei>
        <title>UNIV OF MASSACHUSETTS MA BLDG UNIVERSITY OF MASSACHUSETTS BUILDING AUTHORITY</title>
        <cusip>914437WQ7</cusip>
        <identifiers>
          <isin value="US914437WQ74"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2284998.20000000</valUSD>
        <pctVal>0.271917617146</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>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>GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV</name>
        <lei>N/A</lei>
        <title>GOLDEN ST TOBACCO SECURITIZATI GOLDEN STATE TOBACCO SECURITIZATION CORP</title>
        <cusip>38122ND82</cusip>
        <identifiers>
          <isin value="US38122ND823"/>
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        <balance>1095000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1001509.67000000</valUSD>
        <pctVal>0.119180891702</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>3.85000000</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>64542PAW5</cusip>
        <identifiers>
          <isin value="US64542PAW59"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>582000.00000000</valUSD>
        <pctVal>0.069258721157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>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>PUBLIC FIN AUTH WIS REV</name>
        <lei>N/A</lei>
        <title>PUBLIC FIN AUTH WI REVENUE PUBLIC FINANCE AUTHORITY</title>
        <cusip>74442PDD4</cusip>
        <identifiers>
          <isin value="US74442PDD42"/>
        </identifiers>
        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1225000.00000000</valUSD>
        <pctVal>0.145776517900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-01</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>
      <invstOrSec>
        <name>LLOYDS BANKING GROUP PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>LLOYDS BANKING GROUP PLC 8.000000% MATURITY: PERPETUAL</title>
        <cusip>53944YAV5</cusip>
        <identifiers>
          <isin value="US53944YAV56"/>
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        <balance>4800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5110579.20000000</valUSD>
        <pctVal>0.608165257330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-06-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>LLOYDS BANKING GROUP PLC</name>
              <title>LLOY 8 PERP</title>
              <curCd>GBP</curCd>
              <identifiers>
                <isin value="GB0008706128"/>
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            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="1314.06044000" curCd="GBP"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GAINESVILLE &amp; HALL CNTY GA DEV AUTH EDL FACS REV</name>
        <lei>N/A</lei>
        <title>GAINESVILLE &amp; HALL CNTY GA DEV GAINESVILLE &amp; HALL COUNTY DEVELOPMENT AUTHORITY</title>
        <cusip>36274PAD9</cusip>
        <identifiers>
          <isin value="US36274PAD96"/>
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        <balance>1620000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>648000.00000000</valUSD>
        <pctVal>0.077112802938</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OKLAHOMA DEV FIN AUTH REV</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>M&amp;T BANK CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NEW HOPE CULTURAL ED FACS FIN CORP TEX SR LIVING REV</name>
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        <cusip>64542PCJ2</cusip>
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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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      <invstOrSec>
        <name>INDIANA FIN AUTH EXEMPT FAC REV</name>
        <lei>N/A</lei>
        <title>INDIANA ST FIN AUTH EXEMPT FAC INDIANA FINANCE AUTHORITY</title>
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        <identifiers>
          <isin value="US45470DAA54"/>
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        <balance>10200000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PINE VIEW PUB INFRASTRUCTURE DIST NO 2 UTAH SPL ASSMT</name>
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          <isin value="US72302PAA66"/>
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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>2055-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH POLLUTION CTL REV</name>
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        <title>CALIFORNIA ST STWD CMNTYS DEVA CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHO</title>
        <cusip>13078HBA9</cusip>
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          <isin value="US13078HBA95"/>
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        <balance>2200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2283326.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>Banco Santander, S.A.</name>
        <lei>5493006QMFDDMYWIAM13</lei>
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        <identifiers>
          <isin value="US05971KAP49"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3271233.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2175-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <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>516001.02000000</valUSD>
        <pctVal>0.061404760758</pctVal>
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        <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>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>NORTH CAROLINA MED CARE COMMN HEALTH CARE FACS REV</name>
        <lei>N/A</lei>
        <title>NORTH CAROLINA ST MED CARE COM NORTH CAROLINA MEDICAL CARE COMMISSION</title>
        <cusip>65821DZX2</cusip>
        <identifiers>
          <isin value="US65821DZX29"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1500000.00000000</valUSD>
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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>Floating</couponKind>
          <annualizedRt>2.79999895</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>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>7700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6146580.44000000</valUSD>
        <pctVal>0.731450688602</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>5.00000000</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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      <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>
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          <isin value="US41077CAQ87"/>
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        <curCd>USD</curCd>
        <valUSD>377557.01000000</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>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>REGIONS FINANCIAL CORPORATION</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corp PREFERRED STOCK</title>
        <cusip>7591EP860</cusip>
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          <isin value="US7591EP8604"/>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley PREFERRED STOCK</title>
        <cusip>61747S504</cusip>
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          <isin value="US61747S5047"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HIGHLANDS CNTY FLA HEALTH FACS AUTH SR LIVING REV</name>
        <lei>N/A</lei>
        <title>HIGHLANDS CNTY FL HLTH FACS AU HIGHLANDS COUNTY HEALTH FACILITIES AUTHORITY</title>
        <cusip>43102XAG9</cusip>
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          <isin value="US43102XAG97"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>EQUITABLE HOLDINGS, INC.</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc PREFERRED STOCK</title>
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        <identifiers>
          <isin value="US29452E4089"/>
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        <balance>57619.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>943799.22000000</valUSD>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IOWA FIN AUTH MIDWESTERN DISASTER AREA REV</name>
        <lei>N/A</lei>
        <title>IOWA ST FIN AUTH MIDWSTRN DISA IOWA FINANCE AUTHORITY</title>
        <cusip>46246SAW5</cusip>
        <identifiers>
          <isin value="US46246SAW52"/>
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        <balance>4200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4506838.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>PATRIOTS ENERGY GROUP FING AGY S C GAS SUPPLY REV</name>
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        <title>PATRIOTS ENERGY GROUP FING AGY PATRIOTS ENERGY GROUP FINANCING AGENCY</title>
        <cusip>70342PAR5</cusip>
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          <isin value="US70342PAR55"/>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1939824.00000000</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>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>IDAHO HSG &amp; FIN ASSN NONPROFIT FACS REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP, INC.</name>
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        <curCd>USD</curCd>
        <valUSD>893129.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOUISIANA LOC GOVT ENVIRONMENTAL FACS &amp; CMNTY DEV AUTH REV</name>
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        <cusip>54628CES7</cusip>
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          <isin value="US54628CES70"/>
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        <balance>430000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>438662.61000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>ARIZONA INDL DEV AUTH SR LIVING REV</name>
        <lei>N/A</lei>
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        <cusip>04052TDC6</cusip>
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          <isin value="US04052TDC62"/>
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        <balance>4425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4112949.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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        <name>BAYTOWN TEX MUN DEV DIST HOTEL REV</name>
        <lei>N/A</lei>
        <title>BAYTOWN MUNI DEV DIST TX BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT</title>
        <cusip>073201AD7</cusip>
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          <isin value="US073201AD74"/>
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        <curCd>USD</curCd>
        <valUSD>375476.00000000</valUSD>
        <pctVal>0.044682109253</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>DALLAS TEX HSG FIN CORP MULTIFAMILY HSG REV</name>
        <lei>N/A</lei>
        <title>DALLAS TX HSG FIN CORP CITY OF DALLAS HOUSING FINANCE CORP</title>
        <cusip>235298BW5</cusip>
        <identifiers>
          <isin value="US235298BW53"/>
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        <balance>995000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>996160.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW YORK ST DORM AUTH ST PERS INCOME TAX REV</name>
        <lei>N/A</lei>
        <title>NEW YORK ST DORM AUTH ST PERSO NEW YORK STATE DORMITORY AUTHORITY</title>
        <cusip>64990KKR3</cusip>
        <identifiers>
          <isin value="US64990KKR31"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1452865.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-03-15</maturityDt>
          <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>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>09182TEW3</cusip>
        <identifiers>
          <isin value="US09182TEW36"/>
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        <balance>755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>766335.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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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>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH LTD OBLIG REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN ST FIN AUTH LTD OBLIG MICHIGAN FINANCE AUTHORITY</title>
        <cusip>594479FS1</cusip>
        <identifiers>
          <isin value="US594479FS15"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>152481.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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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>74526QLY6</cusip>
        <identifiers>
          <isin value="US74526QLY60"/>
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        <balance>6570000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6464929.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>NEW JERSEY ECONOMIC DEV AUTH REV</name>
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        <cusip>64577XEE2</cusip>
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          <isin value="US64577XEE22"/>
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        <valUSD>4090940.80000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN ST FIN AUTH REVENUE MICHIGAN FINANCE AUTHORITY</title>
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          <isin value="US59447TVD26"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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="US74443DDG34"/>
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        <valUSD>2386297.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>ARIZONA INDL DEV AUTH ED REV</name>
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        <cusip>04052BGZ1</cusip>
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          <isin value="US04052BGZ13"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Tobacco Settlement Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>88880LAB9</cusip>
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          <isin value="US88880LAB99"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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          <couponKind>Fixed</couponKind>
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        <name>MICHIGAN TOB SETTLEMENT FIN AUTH TOB SETTLEMENT ASSET BACKED REV</name>
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        <title>MICHIGAN ST TOBACCO SETTLEMENT MICHIGAN TOBACCO SETTLEMENT FINANCE AUTHORITY</title>
        <cusip>594751AM1</cusip>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>PUBLIC FIN AUTH WIS CHARTER SCH REV</name>
        <lei>N/A</lei>
        <title>PUBLIC FIN AUTH WI CHRT SCH RE PUBLIC FINANCE AUTHORITY</title>
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          <isin value="US744396LE06"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PUERTO RICO ELEC PWR AUTH PWR REV</name>
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          <isin value="US74526YEX94"/>
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        <valUSD>1014300.00000000</valUSD>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-07-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>ALLEGHENY CNTY PA ARPT AUTH ARPT REV</name>
        <lei>N/A</lei>
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        <cusip>01728LFK3</cusip>
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          <isin value="US01728LFK35"/>
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        <curCd>USD</curCd>
        <valUSD>1002804.60000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>COLORADO EDL &amp; CULTURAL FACS AUTH REV</name>
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          <isin value="US19645UHM99"/>
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        <valUSD>412077.06000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>MASSACHUSETTS ST DEV FIN AGY REV</name>
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        <cusip>57585BPA0</cusip>
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          <isin value="US57585BPA07"/>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1672248.48000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>DETROIT MICH</name>
        <lei>N/A</lei>
        <title>DETROIT MI CITY OF DETROIT MI</title>
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        <identifiers>
          <isin value="US251093S844"/>
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        <balance>5736193.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4646980.01000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>EQUITABLE HOLDINGS, INC.</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc PREFERRED STOCK</title>
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          <isin value="US29452E2000"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>PUBLIC FIN AUTH WIS SR LIVING REV</name>
        <lei>N/A</lei>
        <title>PUBLIC FIN AUTH WI SENIOR LIVI PUBLIC FINANCE AUTHORITY</title>
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        <identifiers>
          <isin value="US74443UBC62"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHARLOTTE CNTY FLA INDL DEV AUTH UTIL SYS REV</name>
        <lei>N/A</lei>
        <title>CHARLOTTE CNTY FL INDL DEV AUT CHARLOTTE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/</title>
        <cusip>16080TAL9</cusip>
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          <isin value="US16080TAL98"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <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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        <balance>1560613.18000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp PREFERRED STOCK</title>
        <cusip>14040H824</cusip>
        <identifiers>
          <isin value="US14040H8245"/>
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        <valUSD>1285504.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <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>
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          <isin value="US528734AH95"/>
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        <valUSD>25501.49000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>ARIZONA INDL DEV AUTH SR LIVING REV</name>
        <lei>N/A</lei>
        <title>ARIZONA ST INDL DEV AUTH SENIO ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY</title>
        <cusip>04052TDD4</cusip>
        <identifiers>
          <isin value="US04052TDD46"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>DENVER COLO INTL BUSINESS CTR MET DIST NO 1</name>
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        <title>DENVER CO INTERNATIONAL BUSINE DENVER INTERNATIONAL BUSINESS CENTER METROPOLITAN</title>
        <cusip>249197BB9</cusip>
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          <isin value="US249197BB93"/>
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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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        <name>OHIO HSG FIN AGY MULTIFAMILY HSG REV</name>
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        <cusip>676900YB3</cusip>
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          <isin value="US676900YB31"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <name>THE PNC FINANCIAL SERVICES GROUP, INC.</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>JPMORGAN CHASE &amp; CO.</name>
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        <valUSD>1537284.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <name>KEYCORP</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KEYCORP 5.000000% MATURITY: PERPETUAL</title>
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        <valUSD>1692410.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2174-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <title>CHICAGO IL O'HARE INTERNATIONA CHICAGO O'HARE INTERNATIONAL AIRPORT</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>STIFEL FINANCIAL CORP.</name>
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        <title>Stifel Financial Corp PREFERRED STOCK</title>
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          <isin value="US8606308620"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHICAGO ILL BRD ED</name>
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        <title>CHICAGO IL BRD OF EDU CHICAGO BOARD OF EDUCATION</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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          <couponKind>Fixed</couponKind>
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        <name>UBS Group AG</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>STATE STREET CORPORATION</name>
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          <isin value="US857477CS03"/>
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        <name>United States of America</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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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>
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          <isin value="US88948ABM80"/>
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        <name>Banco Bilbao Vizcaya Argentaria, S.A.</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>SOUTHCENTRAL PA GEN AUTH REV</name>
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        <issuerCat>MUN</issuerCat>
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        <name>PUERTO RICO ELEC PWR AUTH PWR REV</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>ATLANTA GA DEV AUTH REV</name>
        <lei>N/A</lei>
        <title>ATLANTA GA DEV AUTH ATLANTA DEVELOPMENT AUTHORITY/THE</title>
        <cusip>04780NMW4</cusip>
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        <name>UTAH ST CHARTER SCH FIN AUTH CHARTER SCH REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ILLINOIS ST</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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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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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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        <name>STUART IOWA</name>
        <lei>N/A</lei>
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        <cusip>863795KB5</cusip>
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          <isin value="US863795KB54"/>
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        <curCd>USD</curCd>
        <valUSD>534602.99000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA PUB FIN AUTH SR LIVING REV</name>
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        <title>CALIFORNIA PUBLIC FIN AUTH SEN CALIFORNIA PUBLIC FINANCE AUTHORITY</title>
        <cusip>13057GAB5</cusip>
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          <isin value="US13057GAB59"/>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-08</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>MICHIGAN FIN AUTH LTD OBLIG REV</name>
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        <cusip>594479FT9</cusip>
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          <isin value="US594479FT97"/>
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        <valUSD>231219.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ILLINOIS FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY</title>
        <cusip>45204FKR5</cusip>
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          <isin value="US45204FKR54"/>
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        <valUSD>311593.45000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>DETROIT MICH</name>
        <lei>N/A</lei>
        <title>DETROIT MI CITY OF DETROIT MI</title>
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          <isin value="US2510936C90"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1132246.80000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US91282CKC46"/>
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        <valUSD>5525781.25000000</valUSD>
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        <issuerCat>UST</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <name>NEW YORK CNTYS TOB TR V</name>
        <lei>N/A</lei>
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          <isin value="US649441AC64"/>
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        <isRestrictedSec>N</isRestrictedSec>

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          <annualizedRt>0.00000000</annualizedRt>
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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>PENNSYLVANIA ECONOMIC DEV FING AUTH SOLID WASTE DISP REV</name>
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        <name>WASHINGTON ST HSG FIN COMMN MULTIFAMILY TAX-EXEMPT MTG-BKD BDS</name>
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          <isin value="US93979AAE91"/>
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        <name>DAYTON-MONTGOMERY CNTY OHIO PORT AUTH MULTIFAMILY HSG REV</name>
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        <name>PENNSYLVANIA ECONOMIC DEV FING AUTH UPMC REV</name>
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        <name>PUERTO RICO COMWLTH</name>
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      <invstOrSec>
        <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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        <name>CALHOUN CNTY TEX NAV INDL DEV AUTH FAC REV</name>
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        <name>WEST VIRGINIA ECONOMIC DEV AUTH SOLID WASTE DISP FACS 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>PIMA CNTY ARIZ INDL DEV AUTH ED REV</name>
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        <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>TEXAS WTR DEV BRD REV</name>
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        <title>TEXAS WTR DEV BRD REVENUE TEXAS WATER DEVELOPMENT BOARD</title>
        <cusip>88285ADS4</cusip>
        <identifiers>
          <isin value="US88285ADS42"/>
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        <balance>10500000.00000000</balance>
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        <valUSD>10820388.60000000</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>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>SUFFOLK TOB ASSET SECURITIZATION CORP N Y TOB SETTLEMENT ASSET-BKD</name>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>OHIO HSG FIN AGY MULTIFAMILY HSG REV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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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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        <title>WICHITA KS HLTH CARE FACS REVE CITY OF WICHITA KS</title>
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        <name>BALDWIN CNTY ALA INDL DEV AUTH SOLID WASTE DISP REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>PUERTO RICO COMWLTH</name>
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      <invstOrSec>
        <name>REGIONS FINANCIAL CORPORATION</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>AVIATION STA NORTH MET DIST NO 2 COLO</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MUNICIPAL ELEC AUTH GA</name>
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          <isin value="US62620HEN89"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2063-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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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>74529JPX7</cusip>
        <identifiers>
          <isin value="US74529JPX71"/>
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        <balance>4503000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4440989.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</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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      <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"/>
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        <balance>522391.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3317.19000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MIDA MTN VLG PUB INFRASTRUCTURE DIST UTAH SPL ASSMT REV</name>
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        <title>MIDA MOUNTAIN VLG PUBLIC INFRA MIDA MOUNTAIN VILLAGE PUBLIC INFRASTRUCTURE DISTRI</title>
        <cusip>59561TAQ6</cusip>
        <identifiers>
          <isin value="US59561TAQ67"/>
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        <curCd>USD</curCd>
        <valUSD>1608738.36000000</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>ILLINOIS FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>ILLINOIS ST FIN AUTH REVENUE ILLINOIS FINANCE AUTHORITY</title>
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        <identifiers>
          <isin value="US45204EA650"/>
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        <curCd>USD</curCd>
        <valUSD>46818.40000000</valUSD>
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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>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <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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        <curCd>USD</curCd>
        <valUSD>3896598.05000000</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>
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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>STATE STREET CORPORATION</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
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        <identifiers>
          <isin value="US857477CM33"/>
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        <balance>1200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1237076.40000000</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>2174-12-15</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>
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      <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>
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        <curCd>USD</curCd>
        <valUSD>369526.20000000</valUSD>
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        <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>
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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>VILLAGE MET DIST COLO</name>
        <lei>N/A</lei>
        <title>VILLAGE MET DIST CO VILLAGE METROPOLITAN DISTRICT/THE</title>
        <cusip>92708CAD7</cusip>
        <identifiers>
          <isin value="US92708CAD74"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>507285.05000000</valUSD>
        <pctVal>0.060367549528</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>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>
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          <isin value="US70869PPB75"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1264573.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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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 STATEWIDE CMNTYS DEV AUTH HOTEL REV</name>
        <lei>N/A</lei>
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        <cusip>13081LAD0</cusip>
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          <isin value="US13081LAD01"/>
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        <curCd>USD</curCd>
        <valUSD>1536527.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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        <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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        <curCd>USD</curCd>
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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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        <name>AMERICAN EXPRESS COMPANY</name>
        <lei>R4PP93JZOLY261QX3811</lei>
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          <isin value="US025816CH00"/>
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        <curCd>USD</curCd>
        <valUSD>1590670.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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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>939783Q74</cusip>
        <identifiers>
          <isin value="US939783Q745"/>
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        <valUSD>1048172.16000000</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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <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>64542PEX9</cusip>
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        <curCd>USD</curCd>
        <valUSD>448147.85000000</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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          <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>
      <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>
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        <identifiers>
          <isin value="US04052BAN47"/>
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        <balance>1090000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1070239.94000000</valUSD>
        <pctVal>0.127359878996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>THE CHARLES SCHWAB CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>METROPOLITAN DEV &amp; HSG AGY TENN TAX INCREMENT DEV REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Truist Financial Corporation</name>
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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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        <fairValLevel>2</fairValLevel>
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        <name>NEW HOPE CULTURAL ED FACS FIN CORP TEX RETIREMENT FAC REV</name>
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        <name>MASSACHUSETTS ST HEALTH &amp; EDL FACS AUTH REV</name>
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        <name>CSCDA CMNTY IMPT AUTH CALIF ESSENTIAL HSG REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>METLIFE, INC.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FEDERAL HOME LOAN MTGE CORP MF FHLMC MULTIFAMILY VRD CERTIFICATES</title>
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        <fairValLevel>2</fairValLevel>
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        <name>DIRECTOR ST NEV DEPT BUSINESS &amp; IND ENVIRONMENTAL IMPT REV</name>
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        <title>DIRECTOR OF THE ST OF NEVADA D STATE OF NEVADA DEPARTMENT OF BUSINESS &amp; INDUSTRY</title>
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        <name>KINSTON MET DIST COLO NO 5</name>
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        <title>KINSTON MET DIST CO #5 KINSTON METROPOLITAN DISTRICT NO 5</title>
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        <name>Allianz SE</name>
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        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REV</name>
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        <name>Banco Bilbao Vizcaya Argentaria, S.A.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>The Bank of New York Mellon Corporation</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>BANK OF NEW YORK MELLON CORP/THE 3.750000% MATURITY: PERPETUAL</title>
        <cusip>064058AL4</cusip>
        <identifiers>
          <isin value="US064058AL44"/>
        </identifiers>
        <balance>3100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3070616.34000000</valUSD>
        <pctVal>0.365407149267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2175-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF HAWAII CORPORATION</name>
        <lei>5493006Q8BQ8AD8M2U33</lei>
        <title>Bank of Hawaii Corp PREFERRED STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US0625452075"/>
        </identifiers>
        <balance>13923.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>219983.40000000</valUSD>
        <pctVal>0.026178297181</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>Truist Financial Corporation</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>TRUIST FINANCIAL CORP 6.250000% MATURITY: PERPETUAL</title>
        <cusip>89832QAK5</cusip>
        <identifiers>
          <isin value="US89832QAK58"/>
        </identifiers>
        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1099365.52000000</valUSD>
        <pctVal>0.130825859106</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>CHICAGO ILL BRD ED</name>
        <lei>N/A</lei>
        <title>CHICAGO IL BRD OF EDU CHICAGO BOARD OF EDUCATION</title>
        <cusip>167505A30</cusip>
        <identifiers>
          <isin value="US167505A301"/>
        </identifiers>
        <balance>2100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2094039.15000000</valUSD>
        <pctVal>0.249193253578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp PREFERRED STOCK</title>
        <cusip>902973759</cusip>
        <identifiers>
          <isin value="US9029737593"/>
        </identifiers>
        <balance>19936.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>437196.48000000</valUSD>
        <pctVal>0.052026922851</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>TEXAS MUN GAS ACQUISITION &amp; SUPPLY CORP V GAS SUPPLY REV</name>
        <lei>N/A</lei>
        <title>TEXAS ST MUNI GAS ACQUISITION TEXAS MUNICIPAL GAS ACQUISITION &amp; SUPPLY CORP V</title>
        <cusip>88256RAV8</cusip>
        <identifiers>
          <isin value="US88256RAV87"/>
        </identifiers>
        <balance>4600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4849974.58000000</valUSD>
        <pctVal>0.577152984634</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC 7.000000% MATURITY: PERPETUAL</title>
        <cusip>404280FJ3</cusip>
        <identifiers>
          <isin value="US404280FJ33"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1020361.00000000</valUSD>
        <pctVal>0.121424223331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-09-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>HSBC HOLDINGS PLC</name>
              <title>HSBA 7 PERP</title>
              <curCd>GBP</curCd>
              <identifiers>
                <isin value="GB0005405286"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="0.00000000" curCd="GBP"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON ST ECONOMIC DEV FIN AUTH PORT REV</name>
        <lei>N/A</lei>
        <title>WASHINGTON ST ECON DEV FIN AUT WASHINGTON ECONOMIC DEVELOPMENT FINANCE AUTHORITY</title>
        <cusip>93975XAA1</cusip>
        <identifiers>
          <isin value="US93975XAA19"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>508700.65000000</valUSD>
        <pctVal>0.060536007682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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>MORONGO BAND OF MISSION INDIANS CALIF REV</name>
        <lei>N/A</lei>
        <title>MORONGO BAND OF MISSION INDIAN MORONGO BAND OF MISSION INDIANS/THE</title>
        <cusip>61773RAB3</cusip>
        <identifiers>
          <isin value="US61773RAB33"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1056155.70000000</valUSD>
        <pctVal>0.125683836985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN TOB SETTLEMENT FIN AUTH TOB SETTLEMENT ASSET BACKED REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN ST TOBACCO SETTLEMENT MICHIGAN TOBACCO SETTLEMENT FINANCE AUTHORITY</title>
        <cusip>594751AL3</cusip>
        <identifiers>
          <isin value="US594751AL32"/>
        </identifiers>
        <balance>28500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4053802.95000000</valUSD>
        <pctVal>0.482407574126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARKANSAS ST DEV FIN AUTH ENVIRONMENTAL IMPT REV</name>
        <lei>N/A</lei>
        <title>ARKANSAS DEV FIN AUTH ENVIRONM ARKANSAS DEVELOPMENT FINANCE AUTHORITY</title>
        <cusip>04110FAA3</cusip>
        <identifiers>
          <isin value="US04110FAA30"/>
        </identifiers>
        <balance>785000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>795865.11000000</valUSD>
        <pctVal>0.094708934248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</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>NORTH FT BEND WTR AUTH TEX WTR SYS REV</name>
        <lei>N/A</lei>
        <title>N FORT BEND TX WTR AUTH WTR SY NORTH FORT BEND WATER AUTHORITY</title>
        <cusip>65944RKW1</cusip>
        <identifiers>
          <isin value="US65944RKW15"/>
        </identifiers>
        <balance>8455000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8030086.37000000</valUSD>
        <pctVal>0.955590228128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>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"/>
        </identifiers>
        <balance>1050000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>991509.02000000</valUSD>
        <pctVal>0.117990801961</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>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US0605056250"/>
        </identifiers>
        <balance>16853.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>327959.38000000</valUSD>
        <pctVal>0.039027572595</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>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"/>
        </identifiers>
        <balance>3200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3151774.72000000</valUSD>
        <pctVal>0.375065097051</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>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </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"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2187484.00000000</valUSD>
        <pctVal>0.260313306516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-06-30</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>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </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>959250.50000000</valUSD>
        <pctVal>0.114151998109</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>
        </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>US TREASURY N/B 3.375000% 02/29/2028</title>
        <cusip>91282CQB0</cusip>
        <identifiers>
          <isin value="US91282CQB09"/>
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        <balance>14000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13855625.00000000</valUSD>
        <pctVal>1.648836543537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</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>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>80987.04000000</valUSD>
        <pctVal>0.009637558111</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>920000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>562913.22000000</valUSD>
        <pctVal>0.066987370687</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>
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      <invstOrSec>
        <name>THE TORONTO-DOMINION BANK</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>4152015.92000000</valUSD>
        <pctVal>0.494095039252</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>THE TORONTO-DOMINION BANK</name>
              <title>TD 8.125 10/31/2082</title>
              <curCd>CAD</curCd>
              <identifiers>
                <cusip value="891160509"/>
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            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="0.00000000" curCd="CAD"/>
          </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>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"/>
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        <balance>3431557.62000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34.32000000</valUSD>
        <pctVal>0.000004084122</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <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"/>
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        <balance>1600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1591546.56000000</valUSD>
        <pctVal>0.189396012729</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</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>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"/>
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        <balance>6200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6267826.14000000</valUSD>
        <pctVal>0.745879077138</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>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COREBRIDGE FINANCIAL, INC.</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>COREBRIDGE FINANCIAL INC 6.875000% MATURITY: PERPETUAL</title>
        <cusip>21871XAU3</cusip>
        <identifiers>
          <isin value="US21871XAU37"/>
        </identifiers>
        <balance>930000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>954711.03000000</valUSD>
        <pctVal>0.113611795554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2174-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</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>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"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>515366.45000000</valUSD>
        <pctVal>0.061329246141</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>
        </debtSec>
        <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>2236568.88000000</valUSD>
        <pctVal>0.266154468057</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FLORIDA HIGHER EDL FACS FING AUTH REV</name>
        <lei>N/A</lei>
        <title>FLORIDA ST HGR EDUCTNL FACS FI FLORIDA HIGHER EDUCATIONAL FACILITIES FINANCING AU</title>
        <cusip>34073TKV8</cusip>
        <identifiers>
          <isin value="US34073TKV88"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>498554.20000000</valUSD>
        <pctVal>0.059328567559</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</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>VILLAGE AT DRY CREEK MET DIST NO 2 COLO</name>
        <lei>N/A</lei>
        <title>VLG AT DRY CREEK MET DIST NO 2 VILLAGE AT DRY CREEK METROPOLITAN DISTRICT NO 2/TH</title>
        <cusip>92705AAA0</cusip>
        <identifiers>
          <isin value="US92705AAA07"/>
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        <balance>313000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>313237.50000000</valUSD>
        <pctVal>0.037275650633</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-01</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>
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      <invstOrSec>
        <name>PUBLIC AUTH FOR COLO ENERGY NAT GAS PUR REV</name>
        <lei>N/A</lei>
        <title>PUBLIC AUTH FOR COLORADO ST EN PUBLIC AUTHORITY FOR COLORADO ENERGY</title>
        <cusip>744387AC5</cusip>
        <identifiers>
          <isin value="US744387AC51"/>
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        <balance>420000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>437856.34000000</valUSD>
        <pctVal>0.052105447008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</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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        <name>BROADWAY STA MET DIST NO 3 COLO</name>
        <lei>N/A</lei>
        <title>BROADWAY STATION MET DIST NO 3 BROADWAY STATION METROPOLITAN DISTRICT NO 3</title>
        <cusip>111571AB1</cusip>
        <identifiers>
          <isin value="US111571AB19"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>334780.95000000</valUSD>
        <pctVal>0.039839347877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</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>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANADA 6.750000% 08/24/2085</title>
        <cusip>780082AV5</cusip>
        <identifiers>
          <isin value="US780082AV50"/>
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        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>922334.40000000</valUSD>
        <pctVal>0.109758936466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2085-08-24</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>
              <name>ROYAL BANK OF CANADA</name>
              <title>RY 6.75 08/24/2085</title>
              <curCd>CAD</curCd>
              <identifiers>
                <cusip value="780087102"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="0.00000000" curCd="CAD"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <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>126292AX9</cusip>
        <identifiers>
          <isin value="US126292AX92"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>760149.60000000</valUSD>
        <pctVal>0.090458744303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-05-31</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>
