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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH SR LIVING REV</name>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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          <isin value="US544532EG51"/>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>PALO ALTO CALIF UNI SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <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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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
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          <isin value="US95234AAX37"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <cusip>940204GH7</cusip>
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          <isin value="US940204GH71"/>
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        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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        <name>GARVEY CA SCH DIST</name>
        <lei>N/A</lei>
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        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
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          <isin value="US359816CV54"/>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC 5% 7/1/2027</title>
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          <isin value="US940204FJ47"/>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>13048V2F4</cusip>
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          <isin value="US13048V2F44"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% MT</title>
        <cusip>13013JFD3</cusip>
        <identifiers>
          <isin value="US13013JFD37"/>
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        <balance>5510000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5965103.41000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
        <lei>N/A</lei>
        <title>CA PUB WKS 5% 12/1/2029</title>
        <cusip>13068XGP8</cusip>
        <identifiers>
          <isin value="US13068XGP87"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5412248.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <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>
        <valUSD>699211.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <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>PUERTO RICO COMWLTH AQUEDUCT and SWR AUTH REV</name>
        <lei>N/A</lei>
        <title>PR AQUEDUC 5% 7/1/2028</title>
        <cusip>745160UA7</cusip>
        <identifiers>
          <isin value="US745160UA75"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1535059.50000000</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>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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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>5444954J0</cusip>
        <identifiers>
          <isin value="US5444954J08"/>
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        <balance>580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>598514.76000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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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>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>
        <identifiers>
          <isin value="US27677SBA06"/>
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        <balance>255000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>262351.42000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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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>
        <cusip>544532JB1</cusip>
        <identifiers>
          <isin value="US544532JB10"/>
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        <balance>1910000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2090468.83000000</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>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CENTRAL VALLEY ENERGY AUTHORITY</name>
        <lei>N/A</lei>
        <title>CENTRALVALLEY 5% 8/1/2031</title>
        <cusip>15569DAD4</cusip>
        <identifiers>
          <isin value="US15569DAD49"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>794087.03000000</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>GUAM GOVT BUSINESS PRIVILEGE TAX REV</name>
        <lei>N/A</lei>
        <title>GUAM GOVT BUS 5% 1/1/2031</title>
        <cusip>40065NCX3</cusip>
        <identifiers>
          <isin value="US40065NCX30"/>
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        <balance>430000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>458477.52000000</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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          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
        <title>UNIV CAL REV 5% 5/15/2029</title>
        <cusip>91412HPD9</cusip>
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          <isin value="US91412HPD97"/>
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        <balance>5000000.00000000</balance>
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        <valUSD>5356846.50000000</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>2029-05-15</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA HSG FIN AGY LTD OBLIG MULTIFAMILY HSG REV</name>
        <lei>N/A</lei>
        <title>CA HSG FIN AGY 2.9% 5/1/2047</title>
        <cusip>13034DBK9</cusip>
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          <isin value="US13034DBK90"/>
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        <valUSD>5000280.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-05-01</maturityDt>
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          <annualizedRt>0.02900000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 5% 8/1/2033</title>
        <cusip>13063ENT9</cusip>
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          <isin value="US13063ENT90"/>
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          <maturityDt>2033-08-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% 12/1/2031</title>
        <cusip>13013JDY9</cusip>
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          <isin value="US13013JDY91"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CENTINELA VL CA UNI HIGH S DST</name>
        <lei>N/A</lei>
        <title>CENTINELA UHSD 5% 8/1/2032</title>
        <cusip>152339SG3</cusip>
        <identifiers>
          <isin value="US152339SG37"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA PUB FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA PUB 5% 8/1/2030</title>
        <cusip>13057EHC1</cusip>
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          <isin value="US13057EHC12"/>
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        <balance>5500000.00000000</balance>
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        <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"/>
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        <balance>1170000.00000000</balance>
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        <valUSD>968744.56000000</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>2032-08-01</maturityDt>
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          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <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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        <balance>4735000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5212400.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAN MATEO CNTY CALIF CMNTY COL DIST</name>
        <lei>N/A</lei>
        <title>SAN MATEO CA CC 0% I=NATL 9/1/2028</title>
        <cusip>799038GC2</cusip>
        <identifiers>
          <isin value="US799038GC29"/>
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        <balance>7945000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7476351.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
        <title>UNIV CAL REV 5% 5/15/2028</title>
        <cusip>91412HNJ8</cusip>
        <identifiers>
          <isin value="US91412HNJ85"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3152986.50000000</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>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
        <lei>N/A</lei>
        <title>SACRAMENTO USD 4% 7/1/2029</title>
        <cusip>785870C87</cusip>
        <identifiers>
          <isin value="US785870C877"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>261040.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROSEVILLE CALIF JT UN HIGH SCH</name>
        <lei>N/A</lei>
        <title>ROSEVILLE CA HS 5% 8/1/2031</title>
        <cusip>777849WH9</cusip>
        <identifiers>
          <isin value="US777849WH94"/>
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        <balance>1200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1321903.80000000</valUSD>
        <pctVal>0.204946583566</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>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2029</title>
        <cusip>13048T4B6</cusip>
        <identifiers>
          <isin value="US13048T4B65"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>116835.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</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>
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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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>662284.68000000</valUSD>
        <pctVal>0.102679924601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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>EL CAMINO CA HOSP DIST</name>
        <lei>N/A</lei>
        <title>EL CAMINO CA HOSP DIST 0% 8/1/2029</title>
        <cusip>282731EB0</cusip>
        <identifiers>
          <isin value="US282731EB03"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4568051.50000000</valUSD>
        <pctVal>0.708225930267</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
        <lei>N/A</lei>
        <title>SACRAMENTO USD 5% 8/1/2032</title>
        <cusip>785870U53</cusip>
        <identifiers>
          <isin value="US785870U531"/>
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        <balance>1265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1430278.32000000</valUSD>
        <pctVal>0.221748855879</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>0.05000000</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 HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 5% 11/1/2027</title>
        <cusip>13032UZA9</cusip>
        <identifiers>
          <isin value="US13032UZA95"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>207213.14000000</valUSD>
        <pctVal>0.032126108657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>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"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5989929.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03125000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
        <lei>N/A</lei>
        <title>LA CA DWAP 5% 7/1/2031</title>
        <cusip>544532EJ9</cusip>
        <identifiers>
          <isin value="US544532EJ90"/>
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        <balance>2335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2555625.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 10/1/26</title>
        <cusip>13048TV75</cusip>
        <identifiers>
          <isin value="US13048TV752"/>
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        <balance>355000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>357184.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
        <lei>N/A</lei>
        <title>BATA CA 2% MT</title>
        <cusip>072024WY4</cusip>
        <identifiers>
          <isin value="US072024WY47"/>
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        <balance>11900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11675558.86000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.02000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <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>5751784.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03200000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <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>3456893.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MONTEREY PENINSULA CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>MONTEREY PENSLA 0% 8/1/2032</title>
        <cusip>612574EK5</cusip>
        <identifiers>
          <isin value="US612574EK59"/>
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        <balance>545000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>441770.51000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN MATEO CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
        <title>SAN MATEO CALIF UN HIGH SCH DIST CAP APPREC-SER C FGIC</title>
        <cusip>799017DH8</cusip>
        <identifiers>
          <isin value="US799017DH89"/>
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        <balance>6750000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <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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      </invstOrSec>
      <invstOrSec>
        <name>VERNON CALIF ELEC SYS REV</name>
        <lei>N/A</lei>
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          <isin value="US924397EN84"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
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        <title>LA DWAP CA WTR 5% 7/1/2033</title>
        <cusip>544525N87</cusip>
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          <isin value="US544525N876"/>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 4% 3/1/2027</title>
        <cusip>13032UGA0</cusip>
        <identifiers>
          <isin value="US13032UGA07"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>475142.83000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LA CA USD 5% 7/1/2028</title>
        <cusip>544647HK9</cusip>
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          <isin value="US544647HK96"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2107225.80000000</valUSD>
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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>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 4/1/2028</title>
        <cusip>130179TH7</cusip>
        <identifiers>
          <isin value="US130179TH75"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>392367.41000000</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>FAIRFIELD CA CTFS PARTN</name>
        <lei>N/A</lei>
        <title>FAIRFLD WTR COP 0% 4/1/27</title>
        <cusip>304198FT6</cusip>
        <identifiers>
          <isin value="US304198FT67"/>
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        <balance>1850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1807375.82000000</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>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <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>
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          <isin value="US13068XHY85"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>327694.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 5% 9/1/2032</title>
        <cusip>13063EBX3</cusip>
        <identifiers>
          <isin value="US13063EBX31"/>
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        <balance>10070000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SAN MATEO CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
        <title>SAN MATEO CA US 5% 9/1/2030</title>
        <cusip>799017A24</cusip>
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          <isin value="US799017A246"/>
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        <balance>1850000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
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        <title>CA CNTY TOBAC 5% 6/1/2026</title>
        <cusip>13016NEJ9</cusip>
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          <isin value="US13016NEJ90"/>
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      <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>
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          <isin value="US786005F526"/>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 5% 12/1/2035</title>
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          <isin value="US13032U4X38"/>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <title>WA TWP CA HC 5% 7/1/2026</title>
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          <isin value="US940204FH80"/>
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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% 7/1/2029</title>
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          <isin value="US544525N462"/>
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        <name>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>WEST CONTRA CS 4% 8/1/2031</title>
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          <isin value="US95234AAZ84"/>
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        <invCountry>US</invCountry>
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        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 5% 8/1/2032</title>
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          <isin value="US13063EDE32"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ROSEVILLE CALIF JT UN HIGH SCH</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
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        <cusip>13063DWN4</cusip>
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          <isin value="US13063DWN47"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>TENDER OPT BD TR RCPTS / CTFS VAR STS</name>
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        <cusip>88035G5B0</cusip>
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          <isin value="US88035G5B01"/>
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        <valUSD>1000000.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 6/1/28</title>
        <cusip>13048T2H5</cusip>
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          <isin value="US13048T2H53"/>
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        <curCd>USD</curCd>
        <valUSD>396562.45000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SANTA CLARA CA ELEC REV</name>
        <lei>N/A</lei>
        <title>SNTA CLRA ELE 5% 7/1/2032</title>
        <cusip>801444HM5</cusip>
        <identifiers>
          <isin value="US801444HM51"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1363652.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</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% 11/1/2031</title>
        <cusip>13013JGB6</cusip>
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          <isin value="US13013JGB61"/>
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        <balance>1550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1645336.47000000</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>
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      <invstOrSec>
        <name>ROSEVILLE CALIF JT UN HIGH SCH</name>
        <lei>N/A</lei>
        <title>ROSEVILLE CA HS 5% 8/1/2030</title>
        <cusip>777849WR7</cusip>
        <identifiers>
          <isin value="US777849WR76"/>
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        <balance>615000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>664537.64000000</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>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>WEST CONTRA CS 5% 8/1/2032</title>
        <cusip>95234AAE5</cusip>
        <identifiers>
          <isin value="US95234AAE55"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>370634.42000000</valUSD>
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        <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>0.05000000</annualizedRt>
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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>
        <identifiers>
          <isin value="US672325ZS94"/>
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        <balance>1725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1731452.36000000</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>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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>2213054.60000000</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>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>CA CHOICE (CIBC) 5% 2/1/31</title>
        <cusip>13013JHN9</cusip>
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          <isin value="US13013JHN90"/>
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        <balance>7000000.00000000</balance>
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        <valUSD>7429044.00000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% 12/1/2027</title>
        <cusip>13013JDU7</cusip>
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          <isin value="US13013JDU79"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 5% MT</title>
        <cusip>13032UN87</cusip>
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          <isin value="US13032UN876"/>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 4/1/2029</title>
        <cusip>13080SA95</cusip>
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          <isin value="US13080SA959"/>
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        <balance>625000.00000000</balance>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2029</title>
        <cusip>13048VGA0</cusip>
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          <isin value="US13048VGA08"/>
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        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
        <lei>N/A</lei>
        <title>GOLDEN ST TOB SECURITIZATION CORP CA SETTLEMENT REV SER A FSA</title>
        <cusip>38122NGK2</cusip>
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          <isin value="US38122NGK28"/>
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        <valUSD>500000.00000000</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>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 5% 7/1/2028</title>
        <cusip>786107SR4</cusip>
        <identifiers>
          <isin value="US786107SR47"/>
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        <balance>745000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>784459.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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          <isin value="US544532NP59"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE and ECONNOMIC DEV BK REV</name>
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          <isin value="US13034A5V86"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
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          <isin value="US13049YBU47"/>
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      <invstOrSec>
        <name>LOS ANGELES CA UNI SCH DIST CP</name>
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        <cusip>544648XG8</cusip>
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          <isin value="US544648XG83"/>
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        <balance>2025000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 4% 9/1/2029</title>
        <cusip>13063DU55</cusip>
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          <isin value="US13063DU559"/>
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        <balance>1515000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1582296.91000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
        <title>UPLAND CA COP 5% 1/1/2028</title>
        <cusip>915346FR6</cusip>
        <identifiers>
          <isin value="US915346FR63"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>WEST CONTRA CS 4% 8/1/2033</title>
        <cusip>95234ABB0</cusip>
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          <isin value="US95234ABB08"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1625223.15000000</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>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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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>
        <identifiers>
          <isin value="US13080SB296"/>
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        <balance>440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>466254.05000000</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>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
        <title>CA ST 5% 09/1/2030</title>
        <cusip>13063CS35</cusip>
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          <isin value="US13063CS357"/>
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        <balance>1550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1559330.54000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
        <lei>N/A</lei>
        <title>LA CA DWAP 5% 7/1/2030</title>
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          <isin value="US544532PY49"/>
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        <balance>4000000.00000000</balance>
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        <valUSD>4322690.80000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA HSG FIN AGY LTD OBLIG MULTIFAMILY HSG REV</name>
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          <isin value="US13034DBE31"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN MATEO CA UNIFIED SCH DIST</name>
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          <isin value="US799017A576"/>
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        <name>FORT BRAGG CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>FORT BRAGG CAL 0% 8/1/2030</title>
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          <isin value="US347028FG26"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048VFY92"/>
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        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH SR LIVING HEALTH FAC REV</name>
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        <title>CALIFORNIA STA 5% 1/1/2027</title>
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          <isin value="US13081KAH32"/>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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          <isin value="US544532GQ16"/>
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        <name>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
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          <isin value="US95234AAF21"/>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTRAL VALLEY ENERGY AUTHORITY</name>
        <lei>N/A</lei>
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          <isin value="US15569DAE22"/>
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        <balance>850000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE and ECONNOMIC DEV BK REV</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA INFR 1.2% MT</title>
        <cusip>13034AN30</cusip>
        <identifiers>
          <isin value="US13034AN304"/>
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        <balance>7665000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
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          <isin value="US86459LBN73"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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          <isin value="US13013JDW36"/>
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        <fairValLevel>2</fairValLevel>
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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% 7/1/2036</title>
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        <identifiers>
          <isin value="US544525YE25"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ROSEVILLE CALIF JT UN HIGH SCH</name>
        <lei>N/A</lei>
        <title>ROSEVILLE CA HS 5% 8/1/2030</title>
        <cusip>777849WG1</cusip>
        <identifiers>
          <isin value="US777849WG12"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
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          <isin value="US13063DQL54"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STOCKTON CALIF PUB FING AUTH WTR REV</name>
        <lei>N/A</lei>
        <title>STOCKTON CALIF 5% 10/1/2026</title>
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          <isin value="US861398BR52"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% 11/1/2030</title>
        <cusip>13013JGA8</cusip>
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          <isin value="US13013JGA88"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Fidelity Revere Street Trust</name>
        <lei>549300BDV45LJNXBZC55</lei>
        <title>Fidelity Tax-Free Cash Central Fund</title>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <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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          <isin value="US130179TG92"/>
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        <name>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <title>WA TWP CA HC 5% 7/1/2026</title>
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        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
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        <cusip>544525WR5</cusip>
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          <isin value="US544525WR55"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080SVW1</cusip>
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          <isin value="US13080SVW15"/>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY(ATHENE ANNUITY) 5% 12/1/32MT 55</title>
        <cusip>13013JEA0</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LONG BEACH CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LONGBEACH CA SD 0% 8/1/2029</title>
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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>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
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        <name>SANTA CLARA CA ELEC REV</name>
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        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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          <isin value="US786107TL67"/>
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        <name>PUERTO RICO INDL TOURIST EDL MED and ENVIRONMENTAL CTL FACS FING AUTH HOSP REV</name>
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          <isin value="US74527EFH62"/>
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        <name>LOS ANGELES CA UNI SCH DIST CP</name>
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          <isin value="US544648WS31"/>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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        <name>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>LOS ANGELES CA UNI SCH DIST</name>
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      </invstOrSec>
      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
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          <isin value="US13049YEZ07"/>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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          <isin value="US13032UZR21"/>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080SB37</cusip>
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          <isin value="US13080SB379"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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          <isin value="US785870RL25"/>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
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          <isin value="US544525ZP62"/>
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          <couponKind>Fixed</couponKind>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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        <cusip>13068XDP1</cusip>
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          <isin value="US13068XDP15"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
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        <cusip>544525T65</cusip>
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          <isin value="US544525T659"/>
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        <name>SOUTHERN CALIF PUB PWR AUTH SOUTHN TRANSMISSION SYS RENEWALPROJ REV</name>
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        <cusip>842469DL9</cusip>
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          <isin value="US842469DL92"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
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        <cusip>544525R83</cusip>
        <identifiers>
          <isin value="US544525R836"/>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <title>MONTEBELLO HOME2 SUITES HILTON</title>
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          <isin value="US612286DJ03"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13048V2H00"/>
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        <name>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
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          <isin value="US95234ABM62"/>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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          <isin value="US13068LA397"/>
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        <name>CALIFORNIA MUN FIN AUTH LEASEREV</name>
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          <isin value="US13049UCQ04"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048VDJ44"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048V2D95"/>
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        <name>SOUTHERN CA PUB PWR AUTH</name>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTA MONICA CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
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          <isin value="US802385EA81"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
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        <cusip>9523472W1</cusip>
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          <isin value="US9523472W19"/>
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        <balance>600000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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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>
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          <isin value="US13013JDG85"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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          <isin value="US785870C794"/>
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          <couponKind>Fixed</couponKind>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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          <couponKind>Fixed</couponKind>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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          <isin value="US785870C539"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
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        <cusip>13063D3V8</cusip>
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          <isin value="US13063D3V81"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
        <lei>N/A</lei>
        <title>SACRAMENTO USD 5% 7/1/2030</title>
        <cusip>785870F92</cusip>
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          <isin value="US785870F920"/>
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        <balance>1575000.00000000</balance>
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        <valUSD>1724439.15000000</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>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
        <lei>N/A</lei>
        <title>SACRAMENTO TRAN 5% 6/1/2031</title>
        <cusip>786073AM8</cusip>
        <identifiers>
          <isin value="US786073AM83"/>
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        <balance>500000.00000000</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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          <couponKind>Fixed</couponKind>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% MT</title>
        <cusip>13013JFW1</cusip>
        <identifiers>
          <isin value="US13013JFW18"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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          <isin value="US13068XHR35"/>
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        <name>ANTELOPE VALLEY CA CMNTY COLLEGE DIST</name>
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          <isin value="US03667PLB66"/>
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        <name>CALIFORNIA HSG FIN AGY LTD OBLIG MULTIFAMILY HSG REV</name>
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          <isin value="US13034DBF06"/>
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        <name>PUERTO RICO INDL TOURIST EDL MED and ENVIRONMENTAL CTL FACS FING AUTH HOSP REV</name>
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        <cusip>74527EFJ2</cusip>
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          <isin value="US74527EFJ29"/>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <title>MONTEBELLO HOME2 SUITES HILTON</title>
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          <isin value="US612286DH47"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
        <lei>N/A</lei>
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          <isin value="US785870F508"/>
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      <invstOrSec>
        <name>MIDDLE FORK PROJECT FINANCE AUTHORITY</name>
        <lei>N/A</lei>
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          <isin value="US59572CAL19"/>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <cusip>13013JFZ4</cusip>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <cusip>13013JDZ6</cusip>
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          <isin value="US13013JDZ66"/>
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      <invstOrSec>
        <name>SAN LORENZO VALLEY CA UNI SCH DIST SANTA CRUZ CNTY</name>
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        <cusip>798543EX8</cusip>
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          <isin value="US798543EX83"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080SA79</cusip>
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          <isin value="US13080SA793"/>
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          <couponKind>Fixed</couponKind>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% 5/1/2034</title>
        <cusip>13013JHE9</cusip>
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          <isin value="US13013JHE91"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 4% 11/1/2026</title>
        <cusip>13048TF81</cusip>
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          <isin value="US13048TF813"/>
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        <balance>250000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
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        <cusip>544525Y93</cusip>
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          <isin value="US544525Y931"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
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          <isin value="US13049YEY32"/>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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          <isin value="US785870F763"/>
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        <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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        <name>CENTINELA VL CA UNI HIGH S DST</name>
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          <isin value="US152339SD06"/>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048T4T73"/>
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        <name>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
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        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
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          <isin value="US38122NZA35"/>
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        <name>VERNON CALIF ELEC SYS REV</name>
        <lei>N/A</lei>
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          <isin value="US924397EV01"/>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>ROSEVILLE CALIF JT UN HIGH SCH</name>
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        <name>PALMDALE CALIF SCH DIST</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>CALIFORNIA INFRASTRUCTURE and ECONOMIC DEV BK LEASE REV</name>
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        <cusip>13034RAE3</cusip>
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      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
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        <name>CENTRAL VALLEY ENERGY AUTHORITY</name>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
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        <name>MT DIABLO CA UNIFIED SCH DIST</name>
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        <name>NEWPORTIMESA CA UNI SCH DIST</name>
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        <name>PALOMAR CALIF CMNTY COLLEGE DIST</name>
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        <name>SOUTHERN CA PUB PWR AUTH</name>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% 4/1/2031</title>
        <cusip>13013JGX8</cusip>
        <identifiers>
          <isin value="US13013JGX81"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3130008.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>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>
        <identifiers>
          <isin value="US27677SAZ65"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250529.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PALM SPRINGS CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>PALM SPRING USD 1.25% 8/1/2030</title>
        <cusip>6966674Z4</cusip>
        <identifiers>
          <isin value="US6966674Z40"/>
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        <balance>1895000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1715990.53000000</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>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.01250000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </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"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2500760.00000000</valUSD>
        <pctVal>0.387715216734</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>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5756576.06000000</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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1646039.52000000</valUSD>
        <pctVal>0.255200246825</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>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STOCKTON CALIF PUB FING AUTH WTR REV</name>
        <lei>N/A</lei>
        <title>STOCKTON CALIF 5% 10/1/2027</title>
        <cusip>861398BS3</cusip>
        <identifiers>
          <isin value="US861398BS36"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1033607.90000000</valUSD>
        <pctVal>0.160249488542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CNTY CA PUB WKS</name>
        <lei>N/A</lei>
        <title>LA PUB LEASE RV 5% 12/1/2027</title>
        <cusip>54473EWW0</cusip>
        <identifiers>
          <isin value="US54473EWW01"/>
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        <balance>1875000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1948506.38000000</valUSD>
        <pctVal>0.302094392676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</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>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
        <lei>N/A</lei>
        <title>LA CA DWAP 5% 7/1/2031</title>
        <cusip>544532PC2</cusip>
        <identifiers>
          <isin value="US544532PC29"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1641729.45000000</valUSD>
        <pctVal>0.254532018076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTRAL VALLEY ENERGY AUTHORITY</name>
        <lei>N/A</lei>
        <title>CENTRALVALLEY 5% 8/1/2033</title>
        <cusip>15569DAF9</cusip>
        <identifiers>
          <isin value="US15569DAF96"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1066791.10000000</valUSD>
        <pctVal>0.165394177188</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 5% 7/1/2027</title>
        <cusip>786107TK8</cusip>
        <identifiers>
          <isin value="US786107TK84"/>
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        <balance>830000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>851892.00000000</valUSD>
        <pctVal>0.132076445326</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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>
        <identifiers>
          <isin value="US544525W794"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3188645.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CENTINELA VL CA UNI HIGH S DST</name>
        <lei>N/A</lei>
        <title>CENTINELA UHSD 5% 8/1/2030</title>
        <cusip>152339SE8</cusip>
        <identifiers>
          <isin value="US152339SE88"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1101032.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</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>
        <name>GUAM GOVT BUSINESS PRIVILEGE TAX REV</name>
        <lei>N/A</lei>
        <title>GUAM GOVT BUS 5% 1/1/2029</title>
        <cusip>40065NCV7</cusip>
        <identifiers>
          <isin value="US40065NCV73"/>
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        <balance>2750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2862057.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-01</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>
        <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>5490259.35000000</valUSD>
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        <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>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2026</title>
        <cusip>13048T3Y7</cusip>
        <identifiers>
          <isin value="US13048T3Y77"/>
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        <balance>1065000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1065976.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <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>1202109.20000000</valUSD>
        <pctVal>0.186373753985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH MULTIFAMILY HSG REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA MHSG 3% MT</title>
        <cusip>130483LE8</cusip>
        <identifiers>
          <isin value="US130483LE85"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
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        <valUSD>3005142.90000000</valUSD>
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        <name>ROSEVILLE CALIF JT UN HIGH SCH</name>
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      <invstOrSec>
        <name>SAN MATEO CA UNIFIED SCH DIST</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <cusip>13048TY64</cusip>
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          <isin value="US13048TY640"/>
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      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
        <lei>N/A</lei>
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          <isin value="US785870C612"/>
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        <balance>350000.00000000</balance>
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      <invstOrSec>
        <name>VIRGIN ISLANDS TRANSPORTATION and INFRASTRUCTURE CORP</name>
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          <isin value="US927686AJ46"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NAPA VALLEY CA UNI SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>6303614B6</cusip>
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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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          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
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        <title>SAN DIEGO CALI 5% 7/1/2026</title>
        <cusip>797257AJ1</cusip>
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          <isin value="US797257AJ18"/>
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        <balance>1450000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <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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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 5% 7/1/2032</title>
        <cusip>13032UF60</cusip>
        <identifiers>
          <isin value="US13032UF609"/>
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        <balance>1335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1492492.62000000</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>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>PALOMAR POMERADO HEALTH CALIF</name>
        <lei>N/A</lei>
        <title>PALOMAR CA HLTH 0% 8/1/2031</title>
        <cusip>69753RCV4</cusip>
        <identifiers>
          <isin value="US69753RCV42"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>655052.56000000</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>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ANAHEIM CALIF CITY SCH DIST</name>
        <lei>N/A</lei>
        <title>ANAHEIM CA CSD 0% 8/1/2029</title>
        <cusip>03254CEL0</cusip>
        <identifiers>
          <isin value="US03254CEL00"/>
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        <balance>875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>798162.40000000</valUSD>
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        <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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        <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>
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          <isin value="US79739GHZ28"/>
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          <maturityDt>2029-07-01</maturityDt>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 8/15/26</title>
        <cusip>13048T3H4</cusip>
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          <isin value="US13048T3H45"/>
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        <name>VERNON CALIF ELEC SYS REV</name>
        <lei>N/A</lei>
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          <isin value="US924397ES71"/>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2027</title>
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          <isin value="US13048T4U47"/>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <title>WA TWP CA HC 5% 7/1/2027</title>
        <cusip>940204GF1</cusip>
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          <isin value="US940204GF16"/>
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        <name>POWAY CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13048V2E78"/>
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        <name>LOS ANGELES CNTY CA PUB WKS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048TY566"/>
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      <invstOrSec>
        <name>LOS ANGELES CNTY CA PUB WKS</name>
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          <isin value="US54473EVA99"/>
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      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
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          <isin value="US13049YFB20"/>
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        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
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          <isin value="US072031BV87"/>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
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          <isin value="US5445252D91"/>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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          <isin value="US544532JZ87"/>
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        <name>SAN LORENZO VALLEY CA UNI SCH DIST SANTA CRUZ CNTY</name>
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          <isin value="US798543EY66"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA HSG FIN AGY AFFORDABLE HSG REV</name>
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          <isin value="US13032WCF95"/>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048T3Z43"/>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
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        <name>SAN DIEGO CA UNI SCH DIST</name>
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        <name>PASADENA CALIF INO SCH DIST</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>LOS ANGELES CNTY CA PUB WKS</name>
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          <isin value="US54473EWV28"/>
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      <invstOrSec>
        <name>ROSEVILLE CALIF JT UN HIGH SCH</name>
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          <isin value="US777849WJ50"/>
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        <name>ACTON-AGUA DULCE UNI SCH DIST CALIF</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</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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        <title>CALIFORNIA CMY 5% 5/1/2035</title>
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        <name>ROBLA CA SCH DIST</name>
        <lei>N/A</lei>
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        <name>CALIFORNIA MUN FIN AUTH MULTIFAMILY HSG REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <name>PLACENTIA-YORBA LINDA CA USD</name>
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        <name>MOUNTAIN VIEW CALIF SCH DIST SCH FACS IMPT DIST NO 2 SAN BERNARDINO CNTY</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 EDL FACS AUTH REV</name>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <name>SAN MATEO CA UNIFIED SCH DIST</name>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
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        <name>LOS ANGELES CA UNI SCH DIST CP</name>
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        <name>NAPA VALLEY CA CMNTY COLLEGE DIST</name>
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        <name>PUERTO RICO INDL TOURIST EDL MED and ENVIRONMENTAL CTL FACS FING AUTH HOSP 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>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 5% 11/1/2026</title>
        <cusip>13032UZQ4</cusip>
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          <isin value="US13032UZQ48"/>
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        <valUSD>252743.88000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CA MULTIFAMILY REV</name>
        <lei>N/A</lei>
        <title>LOS ANGELES MFR 2.85% 5/1/2060</title>
        <cusip>544582YA1</cusip>
        <identifiers>
          <isin value="US544582YA11"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2991999.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.02850000</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 5% 7/1/2033</title>
        <cusip>544525WX2</cusip>
        <identifiers>
          <isin value="US544525WX24"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>190254.30000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CENTINELA VL CA UNI HIGH S DST</name>
        <lei>N/A</lei>
        <title>CENTINELA UHSD 5% 8/1/2028</title>
        <cusip>152339SC2</cusip>
        <identifiers>
          <isin value="US152339SC23"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1055252.90000000</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>2028-08-01</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>CENTRAL VALLEY ENERGY AUTHORITY</name>
        <lei>N/A</lei>
        <title>CENTRALVALLEY 5% 8/1/2029</title>
        <cusip>15569DAB8</cusip>
        <identifiers>
          <isin value="US15569DAB82"/>
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        <balance>270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>281484.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>511602.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% 2/1/2055 MT</title>
        <cusip>13013JEP7</cusip>
        <identifiers>
          <isin value="US13013JEP75"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7968497.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-01</maturityDt>
          <couponKind>Variable</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>
        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
        <lei>N/A</lei>
        <title>GOLDEN ST TOBAC 5% 6/1/2028</title>
        <cusip>38122NZC9</cusip>
        <identifiers>
          <isin value="US38122NZC90"/>
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        <balance>1805000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1850586.90000000</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>2028-06-01</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>
        <name>OAKLAND CA UNI SCH D ALAM CNTY</name>
        <lei>N/A</lei>
        <title>OAKLAND CA USD 5% 8/1/2029</title>
        <cusip>672325ZV2</cusip>
        <identifiers>
          <isin value="US672325ZV24"/>
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        <balance>940000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>943632.35000000</valUSD>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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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% 7/1/2032</title>
        <cusip>544525E61</cusip>
        <identifiers>
          <isin value="US544525E610"/>
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        <balance>265000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>291308.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <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% 11/1/2055 MT</title>
        <cusip>13013JFS0</cusip>
        <identifiers>
          <isin value="US13013JFS06"/>
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        <balance>3815000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3921963.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2028</title>
        <cusip>13048VFZ6</cusip>
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          <isin value="US13048VFZ67"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2087855.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</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 5% 7/1/2033</title>
        <cusip>544525R75</cusip>
        <identifiers>
          <isin value="US544525R752"/>
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        <balance>135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>150693.41000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
        <lei>N/A</lei>
        <title>CA PUB WKS 5% 11/1/2032</title>
        <cusip>13068XQZ5</cusip>
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          <isin value="US13068XQZ59"/>
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        <balance>2500000.00000000</balance>
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        <valUSD>2829978.00000000</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>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
        <lei>N/A</lei>
        <title>LA CA DWAP 5% 7/1/2035</title>
        <cusip>544532KF0</cusip>
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          <isin value="US544532KF05"/>
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        <balance>125000.00000000</balance>
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        <valUSD>139277.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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      <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"/>
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        <valUSD>3001011.60000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03750000</annualizedRt>
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      <invstOrSec>
        <name>CENTRAL VALLEY ENERGY AUTHORITY</name>
        <lei>N/A</lei>
        <title>CENTRALVALLEY 5% 8/1/2034</title>
        <cusip>15569DAG7</cusip>
        <identifiers>
          <isin value="US15569DAG79"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1073269.40000000</valUSD>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
        <title>CA MUN FIN AUT 5% 5/15/2027</title>
        <cusip>13049YAV3</cusip>
        <identifiers>
          <isin value="US13049YAV39"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3056061.60000000</valUSD>
        <pctVal>0.473808596425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</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>2026-06-30</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>
  <documents>XXXX</documents>
</edgarSubmission>
