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          <isin value="US38122NGK28"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
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          <isin value="US38122NGL01"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>LONG BEACH CA UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US542433QD21"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NAPA VALLEY CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
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          <isin value="US630360CR47"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>NAPA VALLEY CA UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US6303614B62"/>
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        <balance>2065000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>NEWPORTIMESA CA UNI SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>652113UN9</cusip>
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          <isin value="US652113UN92"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>PALMDALE CALIF SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US696735JH33"/>
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        <valUSD>1371176.94000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PALO ALTO CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>697379TK1</cusip>
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          <isin value="US697379TK19"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>PALOMAR CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>PALOMAR CA CCD 0% 8/1/2029</title>
        <cusip>697511BP7</cusip>
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          <isin value="US697511BP70"/>
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        <balance>1015000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>PALOMAR POMERADO HEALTH CALIF</name>
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        <cusip>69753RCV4</cusip>
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          <isin value="US69753RCV42"/>
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        <balance>800000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>POWAY CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
        <title>POWAY CA USD 0% 8/1/2026</title>
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          <isin value="US738850QJ80"/>
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        <balance>2145000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>SAN MATEO CA UNIFIED SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN MATEO CNTY CALIF CMNTY COL DIST</name>
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          <isin value="US799038GC29"/>
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        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
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          <isin value="US952347QG08"/>
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        <name>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
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          <isin value="US86459LBN73"/>
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        <name>CALIFORNIA ST</name>
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          <isin value="US13063CS357"/>
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      <invstOrSec>
        <name>MONTEREY PENINSULA CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>MONTEREY PENSLA 0% 8/1/2032</title>
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          <isin value="US612574EK59"/>
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      <invstOrSec>
        <name>OAKLAND CA UNI SCH D ALAM CNTY</name>
        <lei>N/A</lei>
        <title>OAKLAND CA USD 5% 8/1/2026</title>
        <cusip>672325ZS9</cusip>
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        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
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        <name>UPLAND CA CTFS PARTN</name>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
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        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
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        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
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        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>AZUSA CALIF UNI SCH DIST</name>
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        <name>GARVEY CA SCH DIST</name>
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        <name>PLACENTIA-YORBA LINDA CA USD</name>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RIO HONDO CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>RIO HONDO CA 0% 8/1/2029</title>
        <cusip>767121CZ7</cusip>
        <identifiers>
          <isin value="US767121CZ70"/>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1663367.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EVERGREEN CALIF ELEM SCH DIST</name>
        <lei>N/A</lei>
        <title>EVERGREEN ESD 0% 8/1/2027</title>
        <cusip>300189CU9</cusip>
        <identifiers>
          <isin value="US300189CU90"/>
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        <balance>1240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1200654.80000000</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>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC 5% 7/1/2026</title>
        <cusip>940204FH8</cusip>
        <identifiers>
          <isin value="US940204FH80"/>
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        <balance>935000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>940143.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC 5% 7/1/2027</title>
        <cusip>940204FJ4</cusip>
        <identifiers>
          <isin value="US940204FJ47"/>
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        <balance>1090000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1112204.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH SR LIVING REV</name>
        <lei>N/A</lei>
        <title>CALIF CA 4% 11/15/2028</title>
        <cusip>13049RBD7</cusip>
        <identifiers>
          <isin value="US13049RBD70"/>
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        <balance>710000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>728917.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST UNIV REV</name>
        <lei>N/A</lei>
        <title>CA ST UNIV REV 1.6% MT</title>
        <cusip>13077DGF3</cusip>
        <identifiers>
          <isin value="US13077DGF33"/>
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        <balance>5525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5487853.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.01600000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 5% 10/1/2028</title>
        <cusip>13063DQL5</cusip>
        <identifiers>
          <isin value="US13063DQL54"/>
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        <balance>1845000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1987132.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 5% MT</title>
        <cusip>13032UUP1</cusip>
        <identifiers>
          <isin value="US13032UUP10"/>
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        <balance>5625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5817635.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TOBACCO SECURITIZATION SOUTH CA TOB SETTLEMENT REV</name>
        <lei>N/A</lei>
        <title>SO CAL TOBACCO 5% 6/1/2027</title>
        <cusip>888804CC3</cusip>
        <identifiers>
          <isin value="US888804CC34"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>515033.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO ARPT 5% 7/1/2029 Q</title>
        <cusip>79739GHZ2</cusip>
        <identifiers>
          <isin value="US79739GHZ28"/>
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        <balance>1025000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1130177.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE and ECONOMIC DEV BK LEASE REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA IE 5% O=CTR 8/1/2027</title>
        <cusip>13034RAE3</cusip>
        <identifiers>
          <isin value="US13034RAE36"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>312815.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MIDDLE FORK PROJECT FINANCE AUTHORITY</name>
        <lei>N/A</lei>
        <title>MIDDLE FORK PRO 5% 4/1/2028</title>
        <cusip>59572CAJ6</cusip>
        <identifiers>
          <isin value="US59572CAJ62"/>
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        <balance>3350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3496796.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>EASTERN MUN WTR DIST FING AUTH CA WTR and WASTEWATER REV</name>
        <lei>N/A</lei>
        <title>EASTERN MUN CA 5% 7/1/2026</title>
        <cusip>27677SAZ6</cusip>
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          <isin value="US27677SAZ65"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>EASTERN MUN WTR DIST FING AUTH CA WTR and WASTEWATER REV</name>
        <lei>N/A</lei>
        <title>EASTERN MUN CA 5% 7/1/2027</title>
        <cusip>27677SBA0</cusip>
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          <isin value="US27677SBA06"/>
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        <balance>255000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>265536.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SAN DIEGO CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA UN 0% 7/1/2030 ETM</title>
        <cusip>797356AG7</cusip>
        <identifiers>
          <isin value="US797356AG78"/>
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        <balance>1050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>945239.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
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          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
        <lei>N/A</lei>
        <title>CA CNTY TOBAC 5% 6/1/2026</title>
        <cusip>13016NEJ9</cusip>
        <identifiers>
          <isin value="US13016NEJ90"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>502629.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>WEST CONTRA USD 4% 8/1/2027</title>
        <cusip>9523473V2</cusip>
        <identifiers>
          <isin value="US9523473V27"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>668947.18000000</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>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>WEST CONTRA USD 4% 08/01/27</title>
        <cusip>9523472W1</cusip>
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          <isin value="US9523472W19"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>617489.70000000</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 5% 7/1/2026</title>
        <cusip>786107TJ1</cusip>
        <identifiers>
          <isin value="US786107TJ12"/>
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        <curCd>USD</curCd>
        <valUSD>373502.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2026</title>
        <cusip>544445PV5</cusip>
        <identifiers>
          <isin value="US544445PV55"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7043645.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
        <lei>N/A</lei>
        <title>LA DWAP CA WTR 4% 7/1/2029</title>
        <cusip>544525ZP6</cusip>
        <identifiers>
          <isin value="US544525ZP62"/>
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        <balance>655000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>689421.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 5% 11/1/2028</title>
        <cusip>13063DWN4</cusip>
        <identifiers>
          <isin value="US13063DWN47"/>
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        <balance>11690000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12618887.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 5% 11/1/2030</title>
        <cusip>13063DWS3</cusip>
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          <isin value="US13063DWS34"/>
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        <balance>1060000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1202525.48000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 5% 7/1/2028</title>
        <cusip>786107TL6</cusip>
        <identifiers>
          <isin value="US786107TL67"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>750568.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 5% 7/1/2027</title>
        <cusip>786107TK8</cusip>
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          <isin value="US786107TK84"/>
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        <balance>830000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>861773.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 5% 11/1/2031</title>
        <cusip>13063DZD3</cusip>
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          <isin value="US13063DZD38"/>
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        <balance>2990000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3383349.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CNTY CA PUB WKS</name>
        <lei>N/A</lei>
        <title>LA PUB LEASE RV 5% 12/1/2027</title>
        <cusip>54473EVA9</cusip>
        <identifiers>
          <isin value="US54473EVA99"/>
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        <balance>3375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3564749.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC 5% 7/1/2026</title>
        <cusip>940204GE4</cusip>
        <identifiers>
          <isin value="US940204GE41"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <cusip>940204GF1</cusip>
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          <isin value="US940204GF16"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <cusip>940204GG9</cusip>
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          <isin value="US940204GG98"/>
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        <balance>400000.00000000</balance>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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          <isin value="US940204GH71"/>
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        <name>CALIFORNIA INFRASTRUCTURE and ECONNOMIC DEV BK REV</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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          <isin value="US13034AN304"/>
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        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
        <lei>N/A</lei>
        <title>BATA CA 2% MT</title>
        <cusip>072024WY4</cusip>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 4/1/2026</title>
        <cusip>130179TF1</cusip>
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          <isin value="US130179TF10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 4/1/2027</title>
        <cusip>130179TG9</cusip>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTA ROSA CA WSTWTR</name>
        <lei>N/A</lei>
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          <isin value="US802649LT83"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>PUERTO RICO COMWLTH AQUEDUCT and SWR AUTH REV</name>
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          <isin value="US745160UA75"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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          <isin value="US13080SA793"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080SA87</cusip>
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          <isin value="US13080SA876"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080SA95</cusip>
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          <isin value="US13080SA959"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 4/1/2030</title>
        <cusip>13080SB29</cusip>
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          <isin value="US13080SB296"/>
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        <curCd>USD</curCd>
        <valUSD>474870.48000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 4/1/2031</title>
        <cusip>13080SB37</cusip>
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          <isin value="US13080SB379"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>FULLERTON PUBLI 4% 2/1/2027</title>
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          <isin value="US359816CS26"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>233502.33000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
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          <isin value="US359816CT09"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
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          <isin value="US359816CV54"/>
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        <curCd>USD</curCd>
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        <name>MT DIABLO CA UNIFIED SCH DIST</name>
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          <isin value="US621196M841"/>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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          <isin value="US13068XBY40"/>
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        <name>LOS ANGELES CNTY CA PUB WKS</name>
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          <isin value="US54473EWV28"/>
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        <name>LOS ANGELES CNTY CA PUB WKS</name>
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        <name>LOS ANGELES CNTY CA PUB WKS</name>
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          <isin value="US54473EWX83"/>
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      <invstOrSec>
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          <isin value="US785870F847"/>
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      <invstOrSec>
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          <isin value="US785870F920"/>
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      <invstOrSec>
        <name>MIDDLE FORK PROJECT FINANCE AUTHORITY</name>
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          <isin value="US59572CAL19"/>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
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          <isin value="US91412HNJ85"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
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        <cusip>91412HNK5</cusip>
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          <isin value="US91412HNK58"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 4% 9/1/2029</title>
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          <isin value="US13063DU559"/>
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        <balance>1515000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
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          <isin value="US13063D3K27"/>
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        <balance>790000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>790082.79000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-01</maturityDt>
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          <annualizedRt>0.03000000</annualizedRt>
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        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
        <lei>N/A</lei>
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        <cusip>544525N46</cusip>
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          <isin value="US544525N462"/>
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        <balance>455000.00000000</balance>
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        <valUSD>494621.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
        <lei>N/A</lei>
        <title>LA DWAP CA WTR 5% 7/1/2033</title>
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          <isin value="US544525N876"/>
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        <valUSD>57245.47000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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          <isin value="US13032UF609"/>
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        <fairValLevel>2</fairValLevel>
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        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
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          <isin value="US91412HPD97"/>
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          <isin value="US544532GQ16"/>
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        <name>CALIFORNIA ST</name>
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        <name>SANTA MONICA CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
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          <isin value="US802385EA81"/>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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          <isin value="US13068XGP87"/>
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      <invstOrSec>
        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
        <lei>N/A</lei>
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        <cusip>544525R83</cusip>
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          <isin value="US544525R836"/>
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        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
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        <valUSD>157380.87000000</valUSD>
        <pctVal>0.024337025967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>LOS ANGELES CNTY CALIF DEV AUTH MULTIFAMILY HSG REV</name>
        <lei>N/A</lei>
        <title>LA County Housing 3.75% 12/1/2026 MT</title>
        <cusip>54467WAH5</cusip>
        <identifiers>
          <isin value="US54467WAH51"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3001631.70000000</valUSD>
        <pctVal>0.464165616999</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03750000</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>SACRAMENTO CALIF MUD ELEC REV</name>
        <lei>N/A</lei>
        <title>SAC MUD CA ELEC 5% 8/15/2049</title>
        <cusip>786005F52</cusip>
        <identifiers>
          <isin value="US786005F526"/>
        </identifiers>
        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6736350.00000000</valUSD>
        <pctVal>1.041694107266</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>Variable</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST UNIV REV</name>
        <lei>N/A</lei>
        <title>CA ST UNIV REV 3.125% 11/1/2051 MT</title>
        <cusip>13077DSZ6</cusip>
        <identifiers>
          <isin value="US13077DSZ68"/>
        </identifiers>
        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6000405.60000000</valUSD>
        <pctVal>0.927889310194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03125000</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>LONG BEACH CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LONGBEACH CA SD 0% 8/1/2029</title>
        <cusip>542433GW1</cusip>
        <identifiers>
          <isin value="US542433GW12"/>
        </identifiers>
        <balance>3995000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3673118.46000000</valUSD>
        <pctVal>0.568002828694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</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>CALIFORNIA HSG FIN AGY AFFORDABLE HSG REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA AGY 3.6% MT</title>
        <cusip>13032WBB9</cusip>
        <identifiers>
          <isin value="US13032WBB90"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2501276.00000000</valUSD>
        <pctVal>0.386791729920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03600000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PASADENA CALIF INO SCH DIST</name>
        <lei>N/A</lei>
        <title>PASADENA CA USD 5% 8/1/2029</title>
        <cusip>702282RA4</cusip>
        <identifiers>
          <isin value="US702282RA41"/>
        </identifiers>
        <balance>1300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1441933.48000000</valUSD>
        <pctVal>0.222977370413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>FORT BRAGG CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>FORT BRAGG CAL 0% 8/1/2030</title>
        <cusip>347028FG2</cusip>
        <identifiers>
          <isin value="US347028FG26"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>894157.70000000</valUSD>
        <pctVal>0.138270548154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</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>ROBLA CA SCH DIST</name>
        <lei>N/A</lei>
        <title>ROBLA CA SCH DT 0% 8/1/2031</title>
        <cusip>771027GM5</cusip>
        <identifiers>
          <isin value="US771027GM52"/>
        </identifiers>
        <balance>2235000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1930784.09000000</valUSD>
        <pctVal>0.298572136091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</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>ACTON-AGUA DULCE UNI SCH DIST CALIF</name>
        <lei>N/A</lei>
        <title>ACTON-AGUA DULC 0% 8/1/2032</title>
        <cusip>00507TAL8</cusip>
        <identifiers>
          <isin value="US00507TAL89"/>
        </identifiers>
        <balance>1795000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1519631.56000000</valUSD>
        <pctVal>0.234992427838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>KINGSBURG CALIF JT UN HIGH SCHDIST</name>
        <lei>N/A</lei>
        <title>KINGS CA 496206/FSA 0% 8/1/32</title>
        <cusip>496206DW0</cusip>
        <identifiers>
          <isin value="US496206DW01"/>
        </identifiers>
        <balance>1170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>990511.94000000</valUSD>
        <pctVal>0.153170552461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 5% 9/1/2030</title>
        <cusip>13063D5N4</cusip>
        <identifiers>
          <isin value="US13063D5N48"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5651283.50000000</valUSD>
        <pctVal>0.873901848990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
        <lei>N/A</lei>
        <title>CA PUB WKS 5% 10/1/2026</title>
        <cusip>13068XHR3</cusip>
        <identifiers>
          <isin value="US13068XHR35"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20344.62000000</valUSD>
        <pctVal>0.003146046563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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 ST PUB WKS BRD LSE</name>
        <lei>N/A</lei>
        <title>CA PUB WKS 5% 10/1/2026</title>
        <cusip>13068XHY8</cusip>
        <identifiers>
          <isin value="US13068XHY85"/>
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        <balance>325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>330668.46000000</valUSD>
        <pctVal>0.051133831561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>LOS ANGELES CALIF WTR and PWR RE</name>
        <lei>N/A</lei>
        <title>LA CA DWAP 5% 7/1/2027</title>
        <cusip>544532HK3</cusip>
        <identifiers>
          <isin value="US544532HK37"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>518711.40000000</valUSD>
        <pctVal>0.080212371499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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 CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5.5% MT</title>
        <cusip>13013JDD5</cusip>
        <identifiers>
          <isin value="US13013JDD54"/>
        </identifiers>
        <balance>1145000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1258327.29000000</valUSD>
        <pctVal>0.194584919579</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>Variable</couponKind>
          <annualizedRt>0.05500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TENDER OPT BD TR RCPTS / CTFS VAR STS</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CA WTR and PWR 2023-XM1153-MST BC/BC D1</title>
        <cusip>88035G5B0</cusip>
        <identifiers>
          <isin value="US88035G5B01"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000000.00000000</valUSD>
        <pctVal>0.154637764852</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.01980000</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 CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5.25% MT</title>
        <cusip>13013JDG8</cusip>
        <identifiers>
          <isin value="US13013JDG85"/>
        </identifiers>
        <balance>6670000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7193138.77000000</valUSD>
        <pctVal>1.112330901669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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          <isin value="US544532JB10"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA PUB FIN AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>13057EHC1</cusip>
        <identifiers>
          <isin value="US13057EHC12"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>CERRITOS CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>CERRITOS CA CCD 0% 8/1/2028</title>
        <cusip>156792FC2</cusip>
        <identifiers>
          <isin value="US156792FC29"/>
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        <balance>740000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% MT</title>
        <cusip>13013JDR4</cusip>
        <identifiers>
          <isin value="US13013JDR41"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 5% MT</title>
        <cusip>13032UN87</cusip>
        <identifiers>
          <isin value="US13032UN876"/>
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        <balance>5000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-11-15</maturityDt>
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      <invstOrSec>
        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
        <lei>N/A</lei>
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        <cusip>544525T65</cusip>
        <identifiers>
          <isin value="US544525T659"/>
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        <curCd>USD</curCd>
        <valUSD>1666381.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH MULTIFAMILY HSG REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA MHSG 3.2% MT</title>
        <cusip>130483GH7</cusip>
        <identifiers>
          <isin value="US130483GH71"/>
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        <balance>5750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5772564.73000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
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          <annualizedRt>0.03200000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN LORENZO VALLEY CA UNI SCH DIST SANTA CRUZ CNTY</name>
        <lei>N/A</lei>
        <title>SAN LORENZO VAL 0% 8/1/2028</title>
        <cusip>798543EX8</cusip>
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          <isin value="US798543EX83"/>
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        <curCd>USD</curCd>
        <valUSD>1402650.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>SAN LORENZO VALLEY CA UNI SCH DIST SANTA CRUZ CNTY</name>
        <lei>N/A</lei>
        <title>SAN LORENZO VAL 0% 8/1/2029</title>
        <cusip>798543EY6</cusip>
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          <isin value="US798543EY66"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3222345.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE and ECONNOMIC DEV BK REV</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA INFR 3.25% 8/1/2029</title>
        <cusip>13034A5B2</cusip>
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          <isin value="US13034A5B23"/>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 5% MT</title>
        <cusip>13032UP93</cusip>
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          <isin value="US13032UP939"/>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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          <isin value="US544532KF05"/>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
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        <name>CALIFORNIA ST</name>
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      <invstOrSec>
        <name>LOS ANGELES CA UNI SCH DIST</name>
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        <title>LA CA USD 5% 7/1/2028</title>
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      <invstOrSec>
        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
        <lei>N/A</lei>
        <title>LA DWAP CA WTR 5% 7/1/2029</title>
        <cusip>544525W79</cusip>
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          <isin value="US544525W794"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MOUNTAIN VIEW CALIF SCH DIST SCH FACS IMPT DIST NO 2 SAN BERNARDINO CNTY</name>
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      <invstOrSec>
        <name>ANAHEIM CALIF CITY SCH DIST</name>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
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          <isin value="US91412HSK04"/>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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          <isin value="US13080SR557"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080SR63</cusip>
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          <isin value="US13080SR631"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080SR71</cusip>
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          <isin value="US13080SR714"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% 12/1/2027</title>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <title>CALIFORNIA CMY 5% 12/1/2028</title>
        <cusip>13013JDV5</cusip>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <title>CALIFORNIA CMY 5% 12/1/2029</title>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>CALIFORNIA ST</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>SANTA CLARA CA ELEC REV</name>
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        <name>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
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      </invstOrSec>
      <invstOrSec>
        <name>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
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        <cusip>95234ABL8</cusip>
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          <isin value="US95234ABL89"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
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        <cusip>95234ABM6</cusip>
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          <isin value="US95234ABM62"/>
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        <balance>850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>918366.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA HSG FIN AGY AFFORDABLE HSG REV</name>
        <lei>N/A</lei>
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        <cusip>13032WCF9</cusip>
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          <isin value="US13032WCF95"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4041464.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03250000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <cusip>13013JEP7</cusip>
        <identifiers>
          <isin value="US13013JEP75"/>
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        <balance>2410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2636078.73000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-02-01</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <cusip>13013JFD3</cusip>
        <identifiers>
          <isin value="US13013JFD37"/>
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        <balance>5075000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5614820.14000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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        <title>LA CA DWAP 5% 7/1/2031</title>
        <cusip>544532NP5</cusip>
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          <isin value="US544532NP59"/>
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        <balance>1190000.00000000</balance>
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        <valUSD>1345695.91000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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        <cusip>544532NL4</cusip>
        <identifiers>
          <isin value="US544532NL46"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>265470.53000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% 11/1/2055 MT</title>
        <cusip>13013JFS0</cusip>
        <identifiers>
          <isin value="US13013JFS06"/>
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        <balance>1520000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1602083.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH MULTIFAMILY HSG REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA MHSG 5% 6/1/2056 MT</title>
        <cusip>130483HC7</cusip>
        <identifiers>
          <isin value="US130483HC75"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2121748.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>RANCHO CUCAMONGA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
        <lei>N/A</lei>
        <title>RANCHO CUCAMONG 5% 9/1/2030</title>
        <cusip>75212CBQ1</cusip>
        <identifiers>
          <isin value="US75212CBQ15"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2267153.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
        <title>UNIV CAL REV 5% 5/15/2032</title>
        <cusip>91412HTS2</cusip>
        <identifiers>
          <isin value="US91412HTS21"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3497505.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ANTELOPE VALLEY CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>ANTELOPE VL CCD 5% 8/1/2031</title>
        <cusip>03667PLB6</cusip>
        <identifiers>
          <isin value="US03667PLB66"/>
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        <balance>1015000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1133898.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 5% 3/1/2030</title>
        <cusip>13063ELT1</cusip>
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          <isin value="US13063ELT19"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2234634.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
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        <cusip>13063ELU8</cusip>
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          <isin value="US13063ELU81"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2284599.80000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 5% 3/1/2032</title>
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        <balance>5500000.00000000</balance>
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      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
        <lei>N/A</lei>
        <title>LA CA DWAP 5% 7/1/2030</title>
        <cusip>544532PB4</cusip>
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          <isin value="US544532PB46"/>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
        <lei>N/A</lei>
        <title>LA CA DWAP 5% 7/1/2031</title>
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          <isin value="US544532PC29"/>
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        <balance>1500000.00000000</balance>
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        <valUSD>1696255.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>SOUTHERN CALIF PUB PWR AUTH SOUTHN TRANSMISSION SYS RENEWALPROJ REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>GUAM GOVT BUSINESS PRIVILEGE TAX REV</name>
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        <name>GUAM GOVT BUSINESS PRIVILEGE TAX REV</name>
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        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>CENTINELA VL CA UNI HIGH S DST</name>
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        <name>CENTINELA VL CA UNI HIGH S DST</name>
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        <name>CENTINELA VL CA UNI HIGH S DST</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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        <name>CENTRAL VALLEY ENERGY AUTHORITY</name>
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        <name>CENTRAL VALLEY ENERGY AUTHORITY</name>
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        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1099426.40000000</valUSD>
        <pctVal>0.170012841116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="As of March 2025, monthly returns presented in Item B.5.a. have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Laura M. Del Prato</ncom:nameOfApplicant>
      <ncom:signature>Laura M. Del Prato</ncom:signature>
      <ncom:signerName>Laura M. Del Prato</ncom:signerName>
      <ncom:title>President and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
