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      <invstOrSec>
        <name>LONG BEACH CA BD FIN AUTH LEAS</name>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <name>SAN MARCOS CALIF UNI SCH DIST</name>
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        <name>SHASTA CALIF UN HIGH SCH DIST</name>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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          <isin value="US13068LZU24"/>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
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          <isin value="US91412HDB69"/>
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      <invstOrSec>
        <name>LOS ANGELES CA CCD</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US544445BR99"/>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>CALIFORNIA ST</name>
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        <name>CALIFORNIA ST</name>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <name>CALIFORNIA CA TOB SECURITAZTN</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
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      <invstOrSec>
        <name>SANTA ROSA CA WSTWTR</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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      <invstOrSec>
        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
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        <cusip>072031BT3</cusip>
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          <isin value="US072031BT32"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ABC CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>000416L54</cusip>
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          <ticker value="ABCSCD"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 4% 5/15/49@</title>
        <cusip>544445NV7</cusip>
        <identifiers>
          <isin value="US544445NV73"/>
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        <balance>5000000.00000000</balance>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 4% 1/1/2037</title>
        <cusip>13048T7X5</cusip>
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          <isin value="US13048T7X58"/>
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        <balance>1250000.00000000</balance>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT 5% 5/15/24@</title>
        <cusip>544445BN8</cusip>
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          <isin value="US544445BN85"/>
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          <maturityDt>2024-05-15</maturityDt>
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        <name>CALIFORNIA STWD CMNTY DEV AUTH STUDENT HSG REV</name>
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        <title>CA STWD STUDENT 5% 5/15/2034</title>
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          <isin value="US13078RGG92"/>
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        <name>SANTA MONICA CALIF PUB FING AUTH LEASE REV</name>
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        <title>SANTA MONICA PF 5% 7/1/2036</title>
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          <isin value="US802437FT53"/>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 4% 7/1/2039</title>
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          <isin value="US802498RF44"/>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <cusip>79766DFR5</cusip>
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          <isin value="US79766DFR52"/>
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        <name>SAN JACINTO CA UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US797848GN20"/>
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        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
        <lei>N/A</lei>
        <title>ELK GROVE CA FI 5% 9/1/27</title>
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          <isin value="US287254CU81"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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          <isin value="US130685U246"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
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        <cusip>798136WM5</cusip>
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          <isin value="US798136WM53"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
        <lei>N/A</lei>
        <title>BAY AREA TOLL AUTHORITY CA 2.125% 4/1/2053</title>
        <cusip>072024UR1</cusip>
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          <isin value="US072024UR14"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.02125000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2027 AMT</title>
        <cusip>5444354B3</cusip>
        <identifiers>
          <isin value="US5444354B36"/>
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        <balance>1250000.00000000</balance>
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        <valUSD>1430472.88000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <title>WA TWP CA HC 5% 7/1/2030</title>
        <cusip>940204GJ3</cusip>
        <identifiers>
          <isin value="US940204GJ38"/>
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        <balance>300000.00000000</balance>
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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>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 4% 7/1/2036</title>
        <cusip>802498RC1</cusip>
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          <isin value="US802498RC13"/>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>507400.18000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LONG BEACH CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LONGBEACH CA SD 5.25% 8/1/2033</title>
        <cusip>542433SL2</cusip>
        <identifiers>
          <isin value="US542433SL29"/>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>411684.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05250000</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 4% 5/15/32</title>
        <cusip>13048TZ22</cusip>
        <identifiers>
          <isin value="US13048TZ225"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1138352.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>SAN JACINTO CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>SAN JACINTO 5% 8/1/28</title>
        <cusip>797848GR3</cusip>
        <identifiers>
          <isin value="US797848GR34"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1392297.38000000</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>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2034</title>
        <cusip>13048T4H3</cusip>
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          <isin value="US13048T4H36"/>
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        <balance>1395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1678395.09000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
        <lei>N/A</lei>
        <title>SAN PABLO CA RV 5% 6/15/2026</title>
        <cusip>799147AM5</cusip>
        <identifiers>
          <isin value="US799147AM54"/>
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        <balance>860000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC 5% 7/1/2032</title>
        <cusip>940204FP0</cusip>
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          <isin value="US940204FP07"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2037</title>
        <cusip>13048VGG7</cusip>
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          <isin value="US13048VGG77"/>
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        <name>FOOTHILL-DE ANZA CA CMTY COL D</name>
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        <title>FOOTHILL-DE ANZA CA CCD ELEC 1999-SER B FGIC</title>
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          <isin value="US345102DN48"/>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 4% 5/15/30</title>
        <cusip>13048TY80</cusip>
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          <isin value="US13048TY806"/>
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        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>WEST CONTRA USD 5% 8/1/2026</title>
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          <isin value="US952347D665"/>
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        <invCountry>US</invCountry>
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        <name>MODESTO CALIF CTFS PARTN</name>
        <lei>N/A</lei>
        <title>MODESTO CA CTFS PARTN CMNTY CTR REFING PROJ SER A AMBAC</title>
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          <ticker value="MODCTF"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-11-01</maturityDt>
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          <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% 7/1/2036</title>
        <cusip>13048T4K6</cusip>
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          <isin value="US13048T4K64"/>
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        <valUSD>1802080.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
        <lei>N/A</lei>
        <title>LA CA MUNI IMPT 5% 5/1/2024</title>
        <cusip>544587A57</cusip>
        <identifiers>
          <isin value="US544587A576"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>222143.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN DIEGO CA PUB FACS FING AUT</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA PU 5% 10/15/31</title>
        <cusip>797299LP7</cusip>
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          <isin value="US797299LP74"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>752511.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LONG BEACH CA BD FIN AUTH LEAS</name>
        <lei>N/A</lei>
        <title>Long Beach Bond Finance Authority 5% 8/1/2026</title>
        <cusip>542402KP6</cusip>
        <identifiers>
          <isin value="US542402KP61"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1030966.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
        <lei>N/A</lei>
        <title>CA ST PUB SR G 5% 11/1/25</title>
        <cusip>13068LAL9</cusip>
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          <isin value="US13068LAL99"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2610425.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ABAG FIN AU FOR NONPF CO CA RV</name>
        <lei>N/A</lei>
        <title>ABAG NON-PROFIT 5% 8/1/24</title>
        <cusip>00037CSE1</cusip>
        <identifiers>
          <isin value="US00037CSE11"/>
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        <balance>1050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1058303.93000000</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>2024-08-01</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>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2041</title>
        <cusip>13048VGJ1</cusip>
        <identifiers>
          <isin value="US13048VGJ17"/>
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        <balance>3865000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4738188.53000000</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>2041-04-01</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>SANTA BARBARA CALIF FING AUTHREV</name>
        <lei>N/A</lei>
        <title>SANTA CA 5% 4/1/2032Q</title>
        <cusip>801262BD7</cusip>
        <identifiers>
          <isin value="US801262BD73"/>
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        <balance>1365000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1739413.77000000</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>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 4% 10/1/2046</title>
        <cusip>13048VWT1</cusip>
        <identifiers>
          <isin value="US13048VWT15"/>
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        <balance>960000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1120305.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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% 6/1/2026</title>
        <cusip>888804CB5</cusip>
        <identifiers>
          <isin value="US888804CB50"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1191509.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH LEASEREV</name>
        <lei>N/A</lei>
        <title>CALIF CA 13049U 5% 6/1/2034</title>
        <cusip>13049UCU1</cusip>
        <identifiers>
          <isin value="US13049UCU16"/>
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        <balance>5290000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6476085.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</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>
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      </invstOrSec>
      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 4/1/2033</title>
        <cusip>130179MY7</cusip>
        <identifiers>
          <isin value="US130179MY71"/>
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        <balance>1245000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1541891.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
        <title>UPLAND CA COP 5% 1/1/2030</title>
        <cusip>915346FT2</cusip>
        <identifiers>
          <isin value="US915346FT20"/>
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        <balance>1335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1621631.44000000</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>2030-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
        <lei>N/A</lei>
        <title>CA CNTY TOBAC 5% 6/1/2033</title>
        <cusip>13016NER1</cusip>
        <identifiers>
          <isin value="US13016NER17"/>
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        <balance>250000.00000000</balance>
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        <valUSD>322093.10000000</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>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN MARCOS CA REDEVELOPMENT and SUCCESSOR AGENCY</name>
        <lei>N/A</lei>
        <title>SAN MARCOS REDE 5% 10/1/27</title>
        <cusip>79876CAM0</cusip>
        <identifiers>
          <isin value="US79876CAM01"/>
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        <balance>1650000.00000000</balance>
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        <valUSD>1919468.76000000</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>2027-10-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LONG BEACH CA BD FIN AUTH LEAS</name>
        <lei>N/A</lei>
        <title>LONG BEACH CA BFA 5% 8/1/29</title>
        <cusip>542402KS0</cusip>
        <identifiers>
          <isin value="US542402KS01"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1030216.40000000</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO ARPT 5% 7/1/2026@</title>
        <cusip>79739GGA8</cusip>
        <identifiers>
          <isin value="US79739GGA85"/>
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        <balance>690000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>819398.25000000</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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          <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>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT CA 5% 3/1/41@</title>
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        <name>WALNUT VLY CA USD BAN</name>
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        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
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        <name>SAN FRANCISCO CALIF CITY and CNTY REDEV AGY SUCCESSOR AGY CMNTY FACS DIST SPL TAX</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <name>CALIFORNIA PUB FIN AUTH REV</name>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <name>SAN DIEGO CA UNI SCH DIST</name>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
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        <name>CALIFORNIA PUB FIN AUTH UNIV HSG REV</name>
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        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
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        <name>LOS ANGELES CNTY CALIF REGL FING AUTH INSD REV</name>
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        <name>SACRAMENTO CALIF MUD ELEC REV</name>
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        <name>SACRAMENTO CA FIN AUTH</name>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
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        <name>CALIFORNIA HSG FIN AGY MUN CTFS</name>
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        <name>POWAY CA UNIFIED SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>WEST CONTRA COSTA USD CA 5% 8/1/27</title>
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          <isin value="US952347D749"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>ONTARIO CALIF I 4% 5/15/2038 @</title>
        <cusip>683042AZ8</cusip>
        <identifiers>
          <isin value="US683042AZ85"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 5/15/33</title>
        <cusip>13048TZ30</cusip>
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          <isin value="US13048TZ308"/>
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        <balance>895000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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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% 6/1/29</title>
        <cusip>38122NZD7</cusip>
        <identifiers>
          <isin value="US38122NZD73"/>
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        <balance>3000000.00000000</balance>
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        <valUSD>3610229.10000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 10/1/2032</title>
        <cusip>13048VDQ8</cusip>
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          <isin value="US13048VDQ86"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>276283.67000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 10/1/2034</title>
        <cusip>130179QA5</cusip>
        <identifiers>
          <isin value="US130179QA59"/>
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        <balance>760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>941528.28000000</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>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
        <lei>N/A</lei>
        <title>PITTSBURG CA 5% 9/1/24</title>
        <cusip>86459LBL1</cusip>
        <identifiers>
          <isin value="US86459LBL18"/>
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        <balance>2440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2732980.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</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>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2030 @</title>
        <cusip>798136XA0</cusip>
        <identifiers>
          <isin value="US798136XA07"/>
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        <balance>1275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1632827.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC 5% 7/1/2030</title>
        <cusip>940204FM7</cusip>
        <identifiers>
          <isin value="US940204FM75"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1249763.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SHASTA CALIF UN HIGH SCH DIST</name>
        <lei>N/A</lei>
        <title>SHASTA CA UN HIGH SCH DIST CAP APPREC FGIC</title>
        <cusip>820174DN7</cusip>
        <identifiers>
          <isin value="US820174DN76"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>952357.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>SAN MATEO CNTY CALIF CMNTY COL DIST</name>
        <lei>N/A</lei>
        <title>SAN MATEO CA CC 5% 9/1/2036</title>
        <cusip>799038NF7</cusip>
        <identifiers>
          <isin value="US799038NF76"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1292952.20000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2031@</title>
        <cusip>542424UV6</cusip>
        <identifiers>
          <isin value="US542424UV65"/>
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          <maturityDt>2031-05-15</maturityDt>
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      <invstOrSec>
        <name>TULARE CA SWR REV</name>
        <lei>N/A</lei>
        <title>TULARE CA SWR 5% 11/15/27</title>
        <cusip>899124KE0</cusip>
        <identifiers>
          <isin value="US899124KE08"/>
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        <balance>1500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
        <lei>N/A</lei>
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          <isin value="US13016NEM20"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 8/15/30</title>
        <cusip>13048T3M3</cusip>
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          <isin value="US13048T3M30"/>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC DI 5.50% 8/1/2040</title>
        <cusip>940642CF6</cusip>
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          <isin value="US940642CF69"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO ARPT 5% 7/1/2030 Q</title>
        <cusip>79739GJA5</cusip>
        <identifiers>
          <isin value="US79739GJA58"/>
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        <balance>2550000.00000000</balance>
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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>
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      </invstOrSec>
      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
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          <isin value="US13049YBC49"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EASTERN MUN WTR DIST FING AUTH CA WTR and WASTEWATER REV</name>
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        <cusip>27677SBD4</cusip>
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          <isin value="US27677SBD45"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ORANGE CNTY CALIF SANTN WASTEWATER REV</name>
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        <title>ORANGE CNTY CA 5% 2/1/36</title>
        <cusip>68428TCT2</cusip>
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          <isin value="US68428TCT25"/>
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        <balance>6630000.00000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LA QUINTA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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        <title>LA QUINTA CA RD 5% 9/1/2028</title>
        <cusip>50420BBZ4</cusip>
        <identifiers>
          <isin value="US50420BBZ40"/>
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        <balance>1000000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>EMPIRE UNION CA SCH DIST SPL</name>
        <lei>N/A</lei>
        <title>EMPIRE UN CA SCH DIST SPL TAX CMNTY FACS DIST NO 1987-1-A AMBAC</title>
        <cusip>292109CX1</cusip>
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          <ticker value="EMPSCD"/>
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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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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>TENDER OPT BD TR RCPTS / CTFS VAR STS</name>
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        <title>CSCDA HUNTINGTON MEM HOSP 2017-XG0119-NUV DB/DB D7</title>
        <cusip>88033UX95</cusip>
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          <isin value="US88033UX956"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <title>CA STWD 5% 10/1/2030</title>
        <cusip>13080SPD0</cusip>
        <identifiers>
          <isin value="US13080SPD08"/>
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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>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
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        <title>POWAY CA UNI 5% 9/1/32</title>
        <cusip>73885QGC7</cusip>
        <identifiers>
          <isin value="US73885QGC78"/>
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        <balance>1795000.00000000</balance>
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        <valUSD>2032396.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LONG BEACH CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LONGBEACH CA SD 5.75% 8/1/2033</title>
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          <isin value="US542433SK46"/>
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        <balance>170000.00000000</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>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05750000</annualizedRt>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST PUBLIC WKS BRD L JUDICIAL COUNCIL PROJS-SER D</title>
        <cusip>130685S35</cusip>
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          <isin value="US130685S356"/>
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        <valUSD>2800000.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH SR LIVING HEALTH FAC REV</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA STA 5% 1/1/2038</title>
        <cusip>13081KAU4</cusip>
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          <isin value="US13081KAU43"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-01-01</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2048</title>
        <cusip>544445TT6</cusip>
        <identifiers>
          <isin value="US544445TT63"/>
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        <balance>6200000.00000000</balance>
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        <valUSD>7977781.18000000</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>2048-05-15</maturityDt>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2043 @</title>
        <cusip>544445GX1</cusip>
        <identifiers>
          <isin value="US544445GX13"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/31@</title>
        <cusip>798136VK0</cusip>
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          <isin value="US798136VK07"/>
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        <balance>1100000.00000000</balance>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST 5% 11/1/2027</title>
        <cusip>13063DVR6</cusip>
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          <isin value="US13063DVR69"/>
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        <balance>2000000.00000000</balance>
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      <invstOrSec>
        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
        <lei>N/A</lei>
        <title>ELK GROVE CA FI 5% 9/1/31</title>
        <cusip>287254CY0</cusip>
        <identifiers>
          <isin value="US287254CY04"/>
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        <balance>1750000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-09-01</maturityDt>
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      <invstOrSec>
        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
        <lei>N/A</lei>
        <title>BAY AREA WTR CA 5% 10/1/2023</title>
        <cusip>072031BQ9</cusip>
        <identifiers>
          <isin value="US072031BQ92"/>
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        <balance>2050000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-10-01</maturityDt>
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      <invstOrSec>
        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
        <lei>N/A</lei>
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          <isin value="US786073AS53"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 4% 4/1/2040</title>
        <cusip>13080SC44</cusip>
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          <isin value="US13080SC443"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <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>
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          <isin value="US13048T4B65"/>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 18-E 5% 07/01/35</title>
        <cusip>786107SY9</cusip>
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          <isin value="US786107SY97"/>
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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>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CA HBR DEPT REV</name>
        <lei>N/A</lei>
        <title>LA CA HBR 5% 8/1/2022 @</title>
        <cusip>544552A36</cusip>
        <identifiers>
          <isin value="US544552A364"/>
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        <balance>150000.00000000</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>2022-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MODESTO CA ELEM SD STANISLAUS</name>
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        <title>MODESTO CALIF ELEM SCH DIST STANISLAUS CNTY CAP APPREC-SER A FGIC</title>
        <cusip>607735AS6</cusip>
        <identifiers>
          <ticker value="MODSCD"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>TRANSMISSION AGENCY OF NORTHERN CALIFORNIA</name>
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        <title>NO CA TRANSMISN 5% 5/1/36</title>
        <cusip>664848BW7</cusip>
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          <isin value="US664848BW75"/>
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        <balance>2390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2817376.93000000</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>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CALI 5% 7/1/2034</title>
        <cusip>797257AS1</cusip>
        <identifiers>
          <isin value="US797257AS17"/>
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        <balance>1380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1671961.77000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DEV AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
        <title>CA STWD STUDENT 5% 5/15/2047</title>
        <cusip>13078RHF0</cusip>
        <identifiers>
          <isin value="US13078RHF01"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1178569.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 8/15/29</title>
        <cusip>13048T3L5</cusip>
        <identifiers>
          <isin value="US13048T3L56"/>
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        <balance>245000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>298341.25000000</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>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
        <title>UPLAND CA COP 5% 1/1/2032</title>
        <cusip>915346FV7</cusip>
        <identifiers>
          <isin value="US915346FV75"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>TULARE CA SWR REV</name>
        <lei>N/A</lei>
        <title>TULARE CA SWR 5% 11/15/25</title>
        <cusip>899124KC4</cusip>
        <identifiers>
          <isin value="US899124KC42"/>
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        <balance>800000.00000000</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>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 6/1/2034</title>
        <cusip>13080SWM2</cusip>
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          <isin value="US13080SWM24"/>
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        <balance>375000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <name>RANCHO CUCAMONGA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
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        <title>RANCHO CUCAMONG 5% 9/1/2025</title>
        <cusip>75212CAM1</cusip>
        <identifiers>
          <isin value="US75212CAM10"/>
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        <balance>1775000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>SOUTH BAYSIDE WASTE MGMT AUTH CALIF SOLID WASTE ENTERPRISE</name>
        <lei>N/A</lei>
        <title>SOUTH BAYSIDE 5% 9/1/2024 @</title>
        <cusip>83646ACZ4</cusip>
        <identifiers>
          <isin value="US83646ACZ49"/>
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        <balance>425000.00000000</balance>
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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% 10/1/26</title>
        <cusip>13048TV75</cusip>
        <identifiers>
          <isin value="US13048TV752"/>
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        <balance>715000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SANTA BARBARA CALIF FING AUTHREV</name>
        <lei>N/A</lei>
        <title>SANTA CA 5% 4/1/2036Q</title>
        <cusip>801262BH8</cusip>
        <identifiers>
          <isin value="US801262BH87"/>
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        <balance>2135000.00000000</balance>
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        <valUSD>2703985.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 4% 4/1/2046</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
        <lei>N/A</lei>
        <title>BATA CA 2% MT</title>
        <cusip>072024WY4</cusip>
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          <isin value="US072024WY47"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RIVERSIDE CNTY CALIF TRANSN COMMN TOLL REV</name>
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        <cusip>76912DAZ1</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
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        <cusip>13080SWN0</cusip>
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          <isin value="US13080SWN07"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 6/1/35</title>
        <cusip>13048T2Q5</cusip>
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          <isin value="US13048T2Q52"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ALAMEDA CORRIDOR TRAN A CA RV</name>
        <lei>N/A</lei>
        <title>ACTA CA RV 5% 10/1/25</title>
        <cusip>010869GH2</cusip>
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          <isin value="US010869GH20"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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          <isin value="US786107SX15"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
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        <title>POWAY CA UNI 5% 9/1/35</title>
        <cusip>73885QGF0</cusip>
        <identifiers>
          <isin value="US73885QGF00"/>
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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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 4/1/2029</title>
        <cusip>130179TJ3</cusip>
        <identifiers>
          <isin value="US130179TJ32"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOS ANGELES CO CALIF COP</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CNTY CA COPS REF-DISNEY CONCERT HALL PKG</title>
        <cusip>54466YCM9</cusip>
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          <isin value="US54466YCM93"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>683042AX3</cusip>
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          <isin value="US683042AX38"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MIDDLE FORK PROJECT FINANCE AUTHORITY</name>
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          <isin value="US59572CAJ62"/>
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        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
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        <name>SACRAMENTO CALIF MUD ELEC REV</name>
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        <name>RIVERSIDE CA SWR REV</name>
        <lei>N/A</lei>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <title>SACRAMENTO USD 4% 8/1/2049</title>
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        <name>POWAY CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
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      <invstOrSec>
        <name>LOS ANGELES CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LA CA USD 4% 7/1/2044</title>
        <cusip>544647BX7</cusip>
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      <invstOrSec>
        <name>SAN MARCOS CALIF UNI SCH DIST</name>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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        <cusip>861419TH2</cusip>
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          <isin value="US861419TH26"/>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
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          <isin value="US802498QY42"/>
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      <invstOrSec>
        <name>SAN JACINTO CA UNI SCH DIST</name>
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          <isin value="US797848GP77"/>
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        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
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          <isin value="US072031BS58"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>STOCKTON CA USD 5% 8/1/2025</title>
        <cusip>861419TE9</cusip>
        <identifiers>
          <isin value="US861419TE94"/>
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        <balance>750000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SOUTH BAYSIDE WASTE MGMT AUTH CALIF SOLID WASTE ENTERPRISE</name>
        <lei>N/A</lei>
        <title>SOUTH BAYSIDE 5% 9/1/2042</title>
        <cusip>83646ABX0</cusip>
        <identifiers>
          <isin value="US83646ABX00"/>
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        <balance>45000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2035</title>
        <cusip>13048VGE2</cusip>
        <identifiers>
          <isin value="US13048VGE20"/>
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        <balance>1780000.00000000</balance>
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        <valUSD>2205254.82000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2025 @</title>
        <cusip>798136WV5</cusip>
        <identifiers>
          <isin value="US798136WV52"/>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TULARE CA SWR REV</name>
        <lei>N/A</lei>
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        <cusip>899124KD2</cusip>
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          <isin value="US899124KD25"/>
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          <maturityDt>2026-11-15</maturityDt>
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        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
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        <title>ELK GROVE CA FI 5% 9/1/2027</title>
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          <isin value="US287254DR44"/>
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        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
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        <cusip>73885QGE3</cusip>
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          <isin value="US73885QGE35"/>
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        <name>SAN DIEGO CALIF ASSN GOVTS CAPGRNT RCPTS REV</name>
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        <cusip>797258AE0</cusip>
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          <isin value="US797258AE04"/>
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        <name>LOS ANGELES CA MULTIFAMILY REV</name>
        <lei>N/A</lei>
        <title>LA CA MFH LN LND 94A L=JP*VR1@</title>
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          <ticker value="LOSMFH"/>
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        <name>MURRIETA VY CA UNI SCH DIST</name>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13048TV919"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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        <title>LA CA DWAP 5% 7/1/2051</title>
        <cusip>544532CP7</cusip>
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          <isin value="US544532CP78"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN DIEGO CA PUB FACS FING AUT</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA PU SR A 5% 10/15/44</title>
        <cusip>797299KD5</cusip>
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          <isin value="US797299KD53"/>
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        <balance>4005000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4580638.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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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% 5/15/2036</title>
        <cusip>13049YCD1</cusip>
        <identifiers>
          <isin value="US13049YCD13"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1844279.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
        <lei>N/A</lei>
        <title>LA CA DWAP 5% 7/1/2042</title>
        <cusip>544495W34</cusip>
        <identifiers>
          <isin value="US544495W345"/>
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        <balance>4595000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5351455.09000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MT DIABLO CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
        <title>MTDIABLO CA USD 4% 8/1/2035 Q</title>
        <cusip>621196N83</cusip>
        <identifiers>
          <isin value="US621196N831"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4777258.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 10/1/2028</title>
        <cusip>13080SPB4</cusip>
        <identifiers>
          <isin value="US13080SPB42"/>
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        <balance>1230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1465236.27000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>POWAY CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
        <lei>N/A</lei>
        <title>POWAY CAL REDEV 5% 12/15/29</title>
        <cusip>738798AW7</cusip>
        <identifiers>
          <isin value="US738798AW78"/>
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        <balance>4825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5630135.69000000</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>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
        <lei>N/A</lei>
        <title>LA CA MUNI IMPT 5% 5/1/2029</title>
        <cusip>544587ZM3</cusip>
        <identifiers>
          <isin value="US544587ZM37"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>555461.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SANTA MONICA CALIF PUB FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>SANTA MONICA PF 5% 7/1/2042</title>
        <cusip>802437GT4</cusip>
        <identifiers>
          <isin value="US802437GT45"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1523612.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/22@</title>
        <cusip>544445BL2</cusip>
        <identifiers>
          <isin value="US544445BL20"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1021410.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-15</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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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 18C 5% 07/01/34@</title>
        <cusip>786107RT1</cusip>
        <identifiers>
          <isin value="US786107RT12"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4892977.60000000</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>2034-07-01</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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      <invstOrSec>
        <name>SAN MATEO CNTY CALIF CMNTY COL DIST</name>
        <lei>N/A</lei>
        <title>SAN MATEO CA CC 5% 9/1/2040</title>
        <cusip>799038NK6</cusip>
        <identifiers>
          <isin value="US799038NK61"/>
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        <balance>1100000.00000000</balance>
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        <valUSD>1412378.44000000</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>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 0% 11/15/2042</title>
        <cusip>13032UPV4</cusip>
        <identifiers>
          <isin value="US13032UPV43"/>
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        <balance>1750000.00000000</balance>
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        <valUSD>2136423.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LA QUINTA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
        <lei>N/A</lei>
        <title>LA QUINTA CA RD 5% 9/1/2029</title>
        <cusip>50420BCA8</cusip>
        <identifiers>
          <isin value="US50420BCA89"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1408509.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 2018 5% 07/01/28</title>
        <cusip>13080SSW5</cusip>
        <identifiers>
          <isin value="US13080SSW51"/>
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        <balance>660000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>827007.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STOCKTON CALIF PUB FING AUTH WTR REV</name>
        <lei>N/A</lei>
        <title>STOCKTON CALIF 5% 10/1/2035</title>
        <cusip>861398CA1</cusip>
        <identifiers>
          <isin value="US861398CA19"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1243340.80000000</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>2035-10-01</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>SAN DIEGO CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA UN 4% 7/1/2050</title>
        <cusip>797356BB7</cusip>
        <identifiers>
          <isin value="US797356BB72"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5910141.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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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 PWR 21A1 Q=RC V1+</title>
        <cusip>544532BQ6</cusip>
        <identifiers>
          <isin value="US544532BQ60"/>
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        <balance>9350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9350000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00010000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
        <lei>N/A</lei>
        <title>ELK GROVE CA FI 5% 9/1/2031</title>
        <cusip>287254DV5</cusip>
        <identifiers>
          <isin value="US287254DV55"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2912476.25000000</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>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROCKLIN CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>ROCKLIN CALIF UNI SCH DIST FGIC</title>
        <cusip>773754FF8</cusip>
        <identifiers>
          <ticker value="ROCSCD"/>
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        <balance>6370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6270781.52000000</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>2024-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTHERN CALIFORNIA ENERGY AUTHORITY</name>
        <lei>N/A</lei>
        <title>NORTHERN CALIFORNIA ENERGY AUTHORITY 4% MT</title>
        <cusip>664840AD7</cusip>
        <identifiers>
          <isin value="US664840AD77"/>
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        <balance>10250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11110655.60000000</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>2049-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 6/1/27</title>
        <cusip>13048T2G7</cusip>
        <identifiers>
          <isin value="US13048T2G70"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1220550.30000000</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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      </invstOrSec>
      <invstOrSec>
        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
        <lei>N/A</lei>
        <title>GOLDEN ST CA TOBAC 0% 6/1/24</title>
        <cusip>38122NGH9</cusip>
        <identifiers>
          <isin value="US38122NGH98"/>
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        <balance>8030000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7939139.75000000</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>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ROCKLIN CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>ROCKLIN CALIF UNI SCH DIST FGIC</title>
        <cusip>773754FG6</cusip>
        <identifiers>
          <ticker value="ROCSCD"/>
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        <balance>6725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6535404.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MURRIETA CALIF PUB FING AUTH SPL TAX</name>
        <lei>N/A</lei>
        <title>MURRIETA PFA SPL TAX 5% 9/1/25</title>
        <cusip>62719DAN3</cusip>
        <identifiers>
          <ticker value="MURGEN"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1033186.40000000</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>2025-09-01</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>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST 5% 11/1/2028</title>
        <cusip>13063DWN4</cusip>
        <identifiers>
          <isin value="US13063DWN47"/>
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        <balance>5005000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6358588.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</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>
      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 4/1/2031</title>
        <cusip>130179MW1</cusip>
        <identifiers>
          <isin value="US130179MW16"/>
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        <balance>890000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1106159.37000000</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>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
        <lei>N/A</lei>
        <title>BAY AREA WTR CA 5% 10/1/2024</title>
        <cusip>072031BR7</cusip>
        <identifiers>
          <isin value="US072031BR75"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2139546.40000000</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>2024-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 10/1/2029</title>
        <cusip>13080SPC2</cusip>
        <identifiers>
          <isin value="US13080SPC25"/>
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        <balance>675000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>800262.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <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>
        <identifiers>
          <isin value="US13048T2H53"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1218434.40000000</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/36@</title>
        <cusip>544445CA5</cusip>
        <identifiers>
          <isin value="US544445CA55"/>
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        <balance>3600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4235519.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-15</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 HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH(KAISER PERM SYS) 4% 11/1/38</title>
        <cusip>13032UMM7</cusip>
        <identifiers>
          <isin value="US13032UMM70"/>
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        <balance>5475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6362246.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
        <title>IRVINE CA IMPT 4% 9/2/2039</title>
        <cusip>46360RE94</cusip>
        <identifiers>
          <isin value="US46360RE943"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1179531.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>POWAY CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
        <title>POWAY CALIF UNI SCH DIST CAP APPREC-SCH FACS IMPT</title>
        <cusip>738850RA6</cusip>
        <identifiers>
          <isin value="US738850RA62"/>
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        <balance>9000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6991830.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
        <lei>N/A</lei>
        <title>ELK GROVE CA FI 5% 9/1/32</title>
        <cusip>287254CZ7</cusip>
        <identifiers>
          <isin value="US287254CZ78"/>
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        <balance>1615000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1875125.63000000</valUSD>
        <pctVal>0.079942710912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</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>GUAM INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>GUAM INTL ARPT 6.375% 10/1/2043 @</title>
        <cusip>40064RER6</cusip>
        <identifiers>
          <isin value="US40064RER66"/>
        </identifiers>
        <balance>230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249133.49000000</valUSD>
        <pctVal>0.010621371843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.06375000</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 DORADO CNTY CA SPL TAX</name>
        <lei>N/A</lei>
        <title>EL DORADO CNTY 5% 09/01/2023</title>
        <cusip>283113EC8</cusip>
        <identifiers>
          <isin value="US283113EC81"/>
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        <balance>1345000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1391936.06000000</valUSD>
        <pctVal>0.059342766304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-01</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>SANTA BARBARA CALIF FING AUTHREV</name>
        <lei>N/A</lei>
        <title>SANTA CA 5% 4/1/37Q</title>
        <cusip>801262BJ4</cusip>
        <identifiers>
          <isin value="US801262BJ44"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1264069.90000000</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>2037-04-01</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>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
        <lei>N/A</lei>
        <title>SAN FRAN ARPT 5% 5/1/2049 @</title>
        <cusip>79766DMB2</cusip>
        <identifiers>
          <isin value="US79766DMB28"/>
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        <balance>12645000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15483906.19000000</valUSD>
        <pctVal>0.660129335621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-01</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 MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 10/1/2038</title>
        <cusip>13048VDW5</cusip>
        <identifiers>
          <isin value="US13048VDW54"/>
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        <balance>345000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>419686.39000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
        <title>IRVINE CA IMPT 4% 9/2/2036</title>
        <cusip>46360RG92</cusip>
        <identifiers>
          <isin value="US46360RG922"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>308217.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-02</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>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
        <lei>N/A</lei>
        <title>SAN FRAN ARPT 5% 5/1/42@</title>
        <cusip>79766DKG3</cusip>
        <identifiers>
          <isin value="US79766DKG33"/>
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        <balance>3205000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3841280.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
        <lei>N/A</lei>
        <title>POWAY CA UNI 5% 9/1/33</title>
        <cusip>73885QGD5</cusip>
        <identifiers>
          <isin value="US73885QGD51"/>
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        <balance>2740000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3099865.85000000</valUSD>
        <pctVal>0.132157374177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</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>SANTA BARBARA CALIF FING AUTHREV</name>
        <lei>N/A</lei>
        <title>SANTA CA 5% 4/1/2030Q</title>
        <cusip>801262BB1</cusip>
        <identifiers>
          <isin value="US801262BB18"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1279362.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH LEASEREV</name>
        <lei>N/A</lei>
        <title>CALIF CA 13049U 5% 6/1/2035</title>
        <cusip>13049UCV9</cusip>
        <identifiers>
          <isin value="US13049UCV98"/>
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        <balance>5110000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6251673.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MURRIETA VY CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>MURRIETA CA USD 4% 09/01/24</title>
        <cusip>626905LC5</cusip>
        <identifiers>
          <isin value="US626905LC50"/>
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        <balance>330000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>362546.94000000</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>2024-09-01</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>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO ARPT 5% 7/1/2024@</title>
        <cusip>79739GFY7</cusip>
        <identifiers>
          <isin value="US79739GFY70"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1113229.60000000</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>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2037@</title>
        <cusip>542424VB9</cusip>
        <identifiers>
          <isin value="US542424VB92"/>
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        <balance>2755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3319582.43000000</valUSD>
        <pctVal>0.141524607367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 2% 10/1/2036</title>
        <cusip>13032UGP7</cusip>
        <identifiers>
          <isin value="US13032UGP75"/>
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        <balance>8190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8654542.53000000</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>2036-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.02000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT SER D 5% 5/15/28@</title>
        <cusip>5444357E4</cusip>
        <identifiers>
          <isin value="US5444357E48"/>
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        <balance>1950000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2227947.74000000</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>
          <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>SOUTH BAYSIDE WASTE MGMT AUTH CALIF SOLID WASTE ENTERPRISE</name>
        <lei>N/A</lei>
        <title>SOUTH BAYSIDE 5% 9/1/2024 @</title>
        <cusip>83646ACN1</cusip>
        <identifiers>
          <isin value="US83646ACN19"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16819.06000000</valUSD>
        <pctVal>0.000717051289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</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>MIDDLE FORK PROJECT FINANCE AUTHORITY</name>
        <lei>N/A</lei>
        <title>MIDDLE FORK PRO 5% 4/1/2027</title>
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        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
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        <name>SAN MATEO CA UNIFIED SCH DIST</name>
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        <name>LONG BEACH CA BD FIN AUTH LEAS</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>CITY OF OAKLAND CA</name>
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        <name>TULARE CA SWR REV</name>
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        <name>GROSSMONT-CUYAMACA CCD</name>
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          <isin value="US399267JG98"/>
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        <name>SANGER CA UNI SCH DIST</name>
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          <isin value="US800851KJ59"/>
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        <name>ANAHEIM CA PUB FI AUTH LSE REV</name>
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        <name>UPLAND CA CTFS PARTN</name>
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        <name>MURRIETA CALIF PUB FING AUTH SPL TAX</name>
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        <name>TULARE CA SWR REV</name>
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        <name>PALOMAR POMERADO HEALTH CALIF</name>
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        <name>CITY OF OAKLAND CA</name>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <name>CALIFORNIA ST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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          <isin value="US79766DFE40"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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          <isin value="US79766DSA80"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
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          <isin value="US861419SV29"/>
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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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <cusip>13048T2T9</cusip>
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          <isin value="US13048T2T91"/>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SANTA ROSA CA WSTWTR</name>
        <lei>N/A</lei>
        <title>SANTA ROSA CALIF WASTEWTR REV CAP APPREC-SER B AMBAC</title>
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          <isin value="US802649LP61"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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        <title>CA PUB WKS 5% 8/1/2036 Q</title>
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          <isin value="US13068XCH08"/>
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        <balance>5260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6623644.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2032</title>
        <cusip>13048T4F7</cusip>
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          <isin value="US13048T4F79"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1685288.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
        <lei>N/A</lei>
        <title>CA CNTY TOBAC 5% 6/1/2027</title>
        <cusip>13016NEK6</cusip>
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          <isin value="US13016NEK63"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>489715.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CARLSBAD CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>CARLSBAD CALIF UNI SCH DIST ELECTION-SER B</title>
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          <isin value="US142665CP13"/>
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        <balance>5300000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-01</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
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        <cusip>91412GX26</cusip>
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          <isin value="US91412GX261"/>
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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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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE and ECONOMIC DEV BK LEASE REV</name>
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          <isin value="US13034RAT05"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT 5% 5/15/2044@</title>
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          <isin value="US544445NU90"/>
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        <name>CORONA-NORCO CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
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        <title>CORONA-NORCO CA USD ST 5% 9/25</title>
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          <isin value="US21976TGD81"/>
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      <invstOrSec>
        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>ONTARIO CALIF I 4% 5/15/2037 @</title>
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          <isin value="US683042AY11"/>
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        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST 5% 3/1/2033</title>
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          <isin value="US13063DVB18"/>
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      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 11/1/2025@</title>
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          <isin value="US735000RM55"/>
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        <balance>5135000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>WEST CONTRA COSTA USD CA 5% 8/1/23</title>
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          <isin value="US952347D335"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
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        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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        <name>LONG BEACH CA BD FIN AUTH LEAS</name>
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      <invstOrSec>
        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
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          <isin value="US359816CX11"/>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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      <invstOrSec>
        <name>ALAMEDA CORRIDOR TRAN A CA RV</name>
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        <name>POWAY CA UNIFIED SCH DIST</name>
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        <name>CALIFORNIA ST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IRVINE CALIF IMPT BD ACT 1915</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <name>SAN DIEGO CA PUB FACS FING AUT</name>
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        <name>SAN MATEO CNTY CALIF JT PWRS FING AUTH LEASE REV</name>
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        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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        <name>ORANGE CNTY CALIF SANTN WASTEWATER REV</name>
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          <isin value="US68428TCS42"/>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US5444357P94"/>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048TX246"/>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
        <lei>N/A</lei>
        <title>CA CNTY TOBAC 5% 6/1/2032</title>
        <cusip>13016NEQ3</cusip>
        <identifiers>
          <isin value="US13016NEQ34"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>323135.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2030</title>
        <cusip>13048T4X8</cusip>
        <identifiers>
          <isin value="US13048T4X85"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>904212.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</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>
        <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>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7066749.90000000</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>2050-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.01200000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 11/1/2048</title>
        <cusip>13080SRG1</cusip>
        <identifiers>
          <isin value="US13080SRG11"/>
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        <balance>795000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>840346.08000000</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>2048-11-01</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>
      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/36@</title>
        <cusip>798136VQ7</cusip>
        <identifiers>
          <isin value="US798136VQ76"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2676910.50000000</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>2036-03-01</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 PUB WKS BRD LSE</name>
        <lei>N/A</lei>
        <title>CA PUB WKS SER E 5% 6/1/29</title>
        <cusip>13068LGJ8</cusip>
        <identifiers>
          <isin value="US13068LGJ89"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7463257.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</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>POMONA CALIF WTSW REV</name>
        <lei>N/A</lei>
        <title>POMONA CALIF CA 4% 5/1/2037</title>
        <cusip>73209GAE0</cusip>
        <identifiers>
          <isin value="US73209GAE08"/>
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        <balance>4335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4944296.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
        <lei>N/A</lei>
        <title>PITTSBURG CA 5% 9/1/26</title>
        <cusip>86459LBN7</cusip>
        <identifiers>
          <isin value="US86459LBN73"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3579744.90000000</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>2026-09-01</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>TURLOCK CA</name>
        <lei>N/A</lei>
        <title>TURLOCK IRR DST 5% 1/1/2032 Q</title>
        <cusip>900190KW8</cusip>
        <identifiers>
          <isin value="US900190KW84"/>
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        <balance>6695000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8691252.84000000</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>2032-01-01</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>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
        <lei>N/A</lei>
        <title>PITTSBURG CA 5% 9/1/28</title>
        <cusip>86459LBQ0</cusip>
        <identifiers>
          <isin value="US86459LBQ05"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4170382.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OAKLAND CA UNI SCH D ALAM CNTY</name>
        <lei>N/A</lei>
        <title>OAKLAND CA USD 5% 8/1/30</title>
        <cusip>672325YL5</cusip>
        <identifiers>
          <isin value="US672325YL50"/>
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        <balance>1570000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1824436.87000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <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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      <invstOrSec>
        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
        <lei>N/A</lei>
        <title>SAN FRAN ARPT 5% 5/1/46@</title>
        <cusip>79766DGF0</cusip>
        <identifiers>
          <isin value="US79766DGF06"/>
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        <balance>23000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26922903.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-01</maturityDt>
          <couponKind>Fixed</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% 10/1/2036</title>
        <cusip>13048VDU9</cusip>
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          <isin value="US13048VDU98"/>
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        <curCd>USD</curCd>
        <valUSD>304746.38000000</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>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN BERNARDINO CA CMNTY COL DT</name>
        <lei>N/A</lei>
        <title>SAN BERNARD CC 4% 8/1/2044</title>
        <cusip>796720MA5</cusip>
        <identifiers>
          <isin value="US796720MA55"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2385174.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ANTELOPE VALLEY CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>ANTELOPE VL CCD 5% 8/1/2031</title>
        <cusip>03667PEX6</cusip>
        <identifiers>
          <isin value="US03667PEX69"/>
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        <balance>1325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1623297.91000000</valUSD>
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        <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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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% 6/1/2024</title>
        <cusip>38122NYY2</cusip>
        <identifiers>
          <isin value="US38122NYY20"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3337758.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-01</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>SAN FRANCISCO CALIF CITY and CNTY REDEV AGY SUCCESSOR AGY CMNTY FACS DIST SPL TAX</name>
        <lei>N/A</lei>
        <title>Mission Bay San Fran 5% 8/1/2023</title>
        <cusip>79772AAL1</cusip>
        <identifiers>
          <isin value="US79772AAL17"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1029430.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-01</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>
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      </invstOrSec>
      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2032@</title>
        <cusip>542424UW4</cusip>
        <identifiers>
          <isin value="US542424UW49"/>
        </identifiers>
        <balance>1760000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2125856.66000000</valUSD>
        <pctVal>0.090632191087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</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>
      <invstOrSec>
        <name>SAN MARCOS CA REDEVELOPMENT and SUCCESSOR AGENCY</name>
        <lei>N/A</lei>
        <title>SAN MARCOS CA REDE 5% 10/1/31</title>
        <cusip>79876CAR9</cusip>
        <identifiers>
          <isin value="US79876CAR97"/>
        </identifiers>
        <balance>2310000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2674390.72000000</valUSD>
        <pctVal>0.114017984061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH SR LIVING REV</name>
        <lei>N/A</lei>
        <title>CALIF CA 5% 11/15/2049</title>
        <cusip>13049RBG0</cusip>
        <identifiers>
          <isin value="US13049RBG02"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2887618.50000000</valUSD>
        <pctVal>0.123108578581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-15</maturityDt>
          <couponKind>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>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2030@</title>
        <cusip>542424UU8</cusip>
        <identifiers>
          <isin value="US542424UU82"/>
        </identifiers>
        <balance>1300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1571001.51000000</valUSD>
        <pctVal>0.066976909465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</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>ANTELOPE VALLEY CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>ANTELOPE VL CCD 5% 8/1/2032</title>
        <cusip>03667PEY4</cusip>
        <identifiers>
          <isin value="US03667PEY43"/>
        </identifiers>
        <balance>1345000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1647800.52000000</valUSD>
        <pctVal>0.070251101314</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>LOS ANGELES CA MUN IMP CRP LSE</name>
        <lei>N/A</lei>
        <title>LA CA MUNI IMPT 5% 5/1/2025</title>
        <cusip>544587A65</cusip>
        <identifiers>
          <isin value="US544587A659"/>
        </identifiers>
        <balance>225000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249957.72000000</valUSD>
        <pctVal>0.010656511452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</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>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2033@</title>
        <cusip>542424UX2</cusip>
        <identifiers>
          <isin value="US542424UX22"/>
        </identifiers>
        <balance>1350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1629833.13000000</valUSD>
        <pctVal>0.069485092978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-15</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>
      <invstOrSec>
        <name>POWAY CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
        <title>POWAY CA USD 0% 08/01/46</title>
        <cusip>738850RH1</cusip>
        <identifiers>
          <isin value="US738850RH16"/>
        </identifiers>
        <balance>10150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5159037.94000000</valUSD>
        <pctVal>0.219946584924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>FULLERTON PUBLI 4% 2/1/2033</title>
        <cusip>359816CY9</cusip>
        <identifiers>
          <isin value="US359816CY93"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296641.43000000</valUSD>
        <pctVal>0.012646790008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</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>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2033</title>
        <cusip>13048T4G5</cusip>
        <identifiers>
          <isin value="US13048T4G52"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1203523.50000000</valUSD>
        <pctVal>0.051310125410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SACRAMENTO CALIF MUD ELEC REV</name>
        <lei>N/A</lei>
        <title>SAC MUD CA ELEC 5% 8/15/2041</title>
        <cusip>786005VB1</cusip>
        <identifiers>
          <isin value="US786005VB19"/>
        </identifiers>
        <balance>2810000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3016849.16000000</valUSD>
        <pctVal>0.128618102384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-15</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>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
        <lei>N/A</lei>
        <title>SAN FRAN ARPT 5% 5/1/2049</title>
        <cusip>79766DMD8</cusip>
        <identifiers>
          <isin value="US79766DMD83"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6169471.00000000</valUSD>
        <pctVal>0.263024636186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-01</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>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST 4% 11/1/2039</title>
        <cusip>13063DXD5</cusip>
        <identifiers>
          <isin value="US13063DXD55"/>
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        <balance>5500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6661612.10000000</valUSD>
        <pctVal>0.284006213663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/35@</title>
        <cusip>798136VP9</cusip>
        <identifiers>
          <isin value="US798136VP93"/>
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        <balance>3475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4136884.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-01</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 PUB WKS BRD LSE</name>
        <lei>N/A</lei>
        <title>CA PUB WKS 5% 9/1/2029</title>
        <cusip>13068LMF9</cusip>
        <identifiers>
          <isin value="US13068LMF93"/>
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        <balance>1425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1598601.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>STOCKTON CALIF PUB FING AUTH WTR REV</name>
        <lei>N/A</lei>
        <title>STOCKTON CALIF 5% 10/1/2036</title>
        <cusip>861398CB9</cusip>
        <identifiers>
          <isin value="US861398CB91"/>
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        <balance>1585000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1968001.14000000</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>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 10/1/2033</title>
        <cusip>13080SPG3</cusip>
        <identifiers>
          <isin value="US13080SPG39"/>
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        <balance>1850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2175893.60000000</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>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 6/1/32</title>
        <cusip>13048T2M4</cusip>
        <identifiers>
          <isin value="US13048T2M49"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>MURRIETA VY CA UNI SCH DIST</name>
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      <invstOrSec>
        <name>LADERA RANCH CFD 2004-1</name>
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          <isin value="US68423PUZ16"/>
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      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
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      <invstOrSec>
        <name>OAKLAND CA UNI SCH D ALAM CNTY</name>
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      <invstOrSec>
        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
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          <isin value="US287254CV64"/>
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      <invstOrSec>
        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
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          <isin value="US683042AW54"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048T7T47"/>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2024 @</title>
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          <isin value="US798136WU79"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048VDR69"/>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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          <isin value="US79739GGD25"/>
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        <name>MERCED CALIF UN HIGH SCH DIST</name>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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          <isin value="US79766DGE31"/>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US544445MC02"/>
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        <name>LONG BEACH CA HBR REV</name>
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          <isin value="US542424UT10"/>
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        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136WW36"/>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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          <isin value="US79739GHS84"/>
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          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
        <lei>N/A</lei>
        <title>GOLDEN ST TOBAC(CA ST) 5% 6/1/33</title>
        <cusip>38122NYF3</cusip>
        <identifiers>
          <isin value="US38122NYF31"/>
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        <balance>2355000.00000000</balance>
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        <valUSD>2727181.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RIVERSIDE CA SWR REV</name>
        <lei>N/A</lei>
        <title>RIVSIDE CA SWR 5% 8/1/28</title>
        <cusip>769047HP9</cusip>
        <identifiers>
          <isin value="US769047HP90"/>
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        <balance>1935000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2236045.37000000</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>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTA BARBARA CALIF FING AUTHREV</name>
        <lei>N/A</lei>
        <title>SANTA CA 5% 4/1/2034Q</title>
        <cusip>801262BF2</cusip>
        <identifiers>
          <isin value="US801262BF22"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1271068.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTHERN CA PUB PWR AUTH PROJ</name>
        <lei>N/A</lei>
        <title>SCAPPA SOFT PUTS 0.65% MT</title>
        <cusip>842475P33</cusip>
        <identifiers>
          <isin value="US842475P332"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9964174.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00650000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ABC CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>A B C CALIF UNI SCH DIST SER C FGIC</title>
        <cusip>000416L47</cusip>
        <identifiers>
          <isin value="US000416L473"/>
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        <balance>2810000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2422384.39000000</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MURRIETA VY CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>MURRIETA CA USD 5% 09/01/27</title>
        <cusip>626905LF8</cusip>
        <identifiers>
          <isin value="US626905LF81"/>
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        <balance>455000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>522301.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO ARPT 5% 7/1/2037@</title>
        <cusip>79739GGM2</cusip>
        <identifiers>
          <isin value="US79739GGM24"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>898785.60000000</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>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 5% 7/1/2035</title>
        <cusip>802498RB3</cusip>
        <identifiers>
          <isin value="US802498RB30"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>491219.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
        <lei>N/A</lei>
        <title>CA CNTY TOBAC 5% 6/1/2028</title>
        <cusip>13016NEL4</cusip>
        <identifiers>
          <isin value="US13016NEL47"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>527142.42000000</valUSD>
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        <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>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
        <title>UPLAND CA COP 5% 1/1/2031</title>
        <cusip>915346FU9</cusip>
        <identifiers>
          <isin value="US915346FU92"/>
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        <balance>1350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1633523.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</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>LOS ANGELES CALIF WTR and PWR RE</name>
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        <title>LA CA DWAP 5% 7/1/28</title>
        <cusip>544495L85</cusip>
        <identifiers>
          <isin value="US544495L850"/>
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        <balance>3400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3866144.76000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 5% 7/1/41</title>
        <cusip>786107PF3</cusip>
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          <isin value="US786107PF36"/>
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        <balance>6430000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7566785.42000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SAN MARCOS CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>SAN MARCOS USD 0% 8/1/2037</title>
        <cusip>798755DF8</cusip>
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          <isin value="US798755DF89"/>
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        <balance>1900000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2026@</title>
        <cusip>542424UQ7</cusip>
        <identifiers>
          <isin value="US542424UQ70"/>
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        <balance>1110000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-15</maturityDt>
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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 18C 5% 07/01/35@</title>
        <cusip>786107RU8</cusip>
        <identifiers>
          <isin value="US786107RU84"/>
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        <balance>5000000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2035-07-01</maturityDt>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2026 AMT</title>
        <cusip>5444357C8</cusip>
        <identifiers>
          <isin value="US5444357C81"/>
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        <balance>1100000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-15</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 11/1/36</title>
        <cusip>13048TF99</cusip>
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          <isin value="US13048TF995"/>
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        <balance>1000000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
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      <invstOrSec>
        <name>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
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          <isin value="US86459LBP22"/>
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        <valUSD>5220941.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>TRANSMISSION AGENCY OF NORTHERN CALIFORNIA</name>
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        <title>NO CA TRANSMISN 5% 5/1/39</title>
        <cusip>664848BZ0</cusip>
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          <isin value="US664848BZ07"/>
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        <valUSD>1763121.75000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
        <title>IRVINE CA IMPT 4% 9/2/2040</title>
        <cusip>46360RH59</cusip>
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          <isin value="US46360RH599"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PALOMAR CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>PALOMAR CA CCD 5% 8/1/2035</title>
        <cusip>697511EW9</cusip>
        <identifiers>
          <isin value="US697511EW94"/>
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        <balance>1410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1723925.78000000</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>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <cusip>79766DKT5</cusip>
        <identifiers>
          <isin value="US79766DKT53"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2579038.20000000</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>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT 5% 5/15/2024 AMT</title>
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          <isin value="US5444353Y48"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
        <title>IRVINE CA IMPT BOND ACT 1915 LMTD OBLIG-RE-ASSMNT DST #12-1</title>
        <cusip>46360RLW5</cusip>
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          <isin value="US46360RLW50"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MORELAND CALIF SCH DIST</name>
        <lei>N/A</lei>
        <title>MORELAND CALIF SCH DIST ELECTION 2002-SER B FGIC</title>
        <cusip>616794JZ7</cusip>
        <identifiers>
          <isin value="US616794JZ78"/>
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        <valUSD>1375844.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHAFFEY CA UNIFIED HSD</name>
        <lei>N/A</lei>
        <title>CHAFFEY CA UHSD 5.25% 8/1/2047</title>
        <cusip>157411RJ0</cusip>
        <identifiers>
          <isin value="US157411RJ01"/>
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        <balance>8305000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10049706.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05250000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALAMEDA CORRIDOR TRAN A CA RV</name>
        <lei>N/A</lei>
        <title>ACTA CA RV 5% 10/1/2035</title>
        <cusip>010869GZ2</cusip>
        <identifiers>
          <isin value="US010869GZ28"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4703157.20000000</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>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>SOUTH ORANGE CNTY CA PFA SPL</name>
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        <title>SO ORANGE CA PFA 5% 8/15/2027</title>
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          <isin value="US839100JL97"/>
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        <balance>700000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ROSEVILLE CA CITY SCH DIST</name>
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        <title>ROSEVILLE CA SCHOOL DISTRICT FGIC</title>
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          <ticker value="ROSSCD"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST</name>
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        <title>CA ST 05B5 L=US V1</title>
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          <isin value="US13062RG774"/>
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          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00020000</annualizedRt>
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        <name>CALIFORNIA HSG FIN AGY MUN CTFS</name>
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          <isin value="US13033DAE58"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 4% 10/1/2051</title>
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          <isin value="US13048VWU87"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ANTELOPE VALLEY CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>ANTELOPE VL CCD 5% 8/1/2035</title>
        <cusip>03667PFB3</cusip>
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          <isin value="US03667PFB31"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4900522.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 2018 5% 07/01/32</title>
        <cusip>13080STA2</cusip>
        <identifiers>
          <isin value="US13080STA23"/>
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        <balance>805000.00000000</balance>
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        <valUSD>989279.71000000</valUSD>
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        <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>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH LEASEREV</name>
        <lei>N/A</lei>
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        <name>TRANSMISSION AGENCY OF NORTHERN CALIFORNIA</name>
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        <name>WALNUT VLY CA USD BAN</name>
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        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US5444354E74"/>
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        <name>CALIFORNIA PUB FIN AUTH REV</name>
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        <name>CITY OF OAKLAND CA</name>
        <lei>N/A</lei>
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        <name>MODESTO CALIF CTFS PARTN</name>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <name>CONTRA COSTA CA WTR DIST REV</name>
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        <name>CALIFORNIA MUN FIN AUTH LEASEREV</name>
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          <isin value="US13049UCT43"/>
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        <name>ROCKLIN CA UNI SCH DIST</name>
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        <name>LADERA RANCH CFD 2004-1</name>
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        <name>UNIV CA REGTS MED CTR POOLED REV</name>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <name>SOUTH ORANGE CNTY CA PFA SPL</name>
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        <name>CARLSBAD CA UNIFIED SCHOOL DIS</name>
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        <name>SOUTH ORANGE CNTY CA PFA SPL</name>
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        <name>LONG BEACH CA HBR REV</name>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <name>ANAHEIM CA PUB FI AUTH LSE REV</name>
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        <name>PALOMAR HEALTH CALIF REV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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        <name>CALIFORNIA INFRASTRUCTURE and ECONNOMIC DEV BK REV</name>
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        <name>LONG BEACH CA CMNTY COLLEGE</name>
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        <name>CALIFORNIA ST</name>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US544445GY95"/>
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        <name>CALIFORNIA STWD CMNTY DEV AUTH STUDENT HSG REV</name>
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          <isin value="US13078RGJ32"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>MUROC CALIF JT UNI SCH DIST</name>
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        <name>LOS ANGELES CA HBR DEPT REV</name>
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        <title>LA CA HBR 5% 8/1/2024 @</title>
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          <isin value="US544552ZF29"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136XC62"/>
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          <couponKind>Fixed</couponKind>
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        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 10/1/2038</title>
        <cusip>130179QE7</cusip>
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          <isin value="US130179QE71"/>
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        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
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          <isin value="US786073AR70"/>
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        <name>SAN BERNADINO CTY UN SCH DIST</name>
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        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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        <name>TURLOCK CA</name>
        <lei>N/A</lei>
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        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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        <name>CARLSBAD CA UNIFIED SCHOOL DIS</name>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <title>SACRAMENTO USD 4% 8/1/2044</title>
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          <isin value="US785870B705"/>
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        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
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        <cusip>46360RH26</cusip>
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          <isin value="US46360RH268"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN DIEGO CA PUB FACS FING AUT</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA PUBLIC FACS FING AUTH LEASE REVENUE CAPITAL IMPT PROJS-SER A</title>
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          <isin value="US797299FY55"/>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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          <isin value="US13080STE45"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
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        <cusip>46360RQK6</cusip>
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          <isin value="US46360RQK67"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT 5% 5/15/23@</title>
        <cusip>544445BM0</cusip>
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          <isin value="US544445BM03"/>
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        <fairValLevel>2</fairValLevel>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST</name>
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        <cusip>940642CE9</cusip>
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          <isin value="US940642CE94"/>
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        <balance>5000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 5/1/2028 @</title>
        <cusip>735000TF8</cusip>
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          <isin value="US735000TF86"/>
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        <balance>2125000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
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        <title>ELK GROVE CA FI 5% 9/1/2029</title>
        <cusip>287254DT0</cusip>
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          <isin value="US287254DT00"/>
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        <balance>2000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 10/1/2035</title>
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          <isin value="US13048VDT26"/>
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        <balance>225000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA PCF SOLID WST DISP</name>
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          <isin value="US130536KL84"/>
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        <fairValLevel>2</fairValLevel>
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        <name>OAKLAND-ALAMEDA CNTY CA COL AU</name>
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        <cusip>672211AY5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
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        <cusip>797257AM4</cusip>
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          <isin value="US797257AM47"/>
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        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US683042BA26"/>
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        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>STOCKTON CA USD 5% 8/1/2027</title>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 10/1/2042</title>
        <cusip>130179QF4</cusip>
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          <isin value="US130179QF47"/>
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        <name>LA QUINTA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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        <cusip>50420BBX9</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SOUTH BAYSIDE WASTE MGMT AUTH CALIF SOLID WASTE ENTERPRISE</name>
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          <isin value="US83646ACJ07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EL CAMINO CA HOSP DIST</name>
        <lei>N/A</lei>
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          <ticker value="ECMMED"/>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
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        <cusip>861419TS8</cusip>
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          <isin value="US861419TS80"/>
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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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        <cusip>544525ZH4</cusip>
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          <isin value="US544525ZH47"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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          <isin value="US786107SW32"/>
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      <invstOrSec>
        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <title>MONTEBELLO HOME2 SUITES HILTON</title>
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        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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        <title>SAC CNTY ARPT 5% 7/1/35</title>
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          <isin value="US786107PD87"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2034@</title>
        <cusip>542424UY0</cusip>
        <identifiers>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048TZ480"/>
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        <name>SAN DIEGO CA UNI SCH DIST</name>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <name>SAN MARCOS CA REDEVELOPMENT and SUCCESSOR AGENCY</name>
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        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
        <lei>N/A</lei>
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          <isin value="US786073AV82"/>
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        <name>MODESTO CALIF IRR DIST FING AUTH ELEC SYS REV</name>
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          <isin value="US607767CC25"/>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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          <isin value="US1306852A70"/>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC 4% 7/1/2035</title>
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          <isin value="US940204GP97"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
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        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH SR LIVING HEALTH FAC REV</name>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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          <isin value="US79739GGL41"/>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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          <isin value="US13080SC518"/>
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        <name>SAN MATEO CA UNIFIED SCH DIST</name>
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          <isin value="US799017CH98"/>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2023@</title>
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        <identifiers>
          <isin value="US5444356Z85"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-05-15</maturityDt>
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      <invstOrSec>
        <name>STOCKTON CALIF PUB FING AUTH WTR REV</name>
        <lei>N/A</lei>
        <title>STOCKTON CALIF 4% 10/1/2037</title>
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        <identifiers>
          <isin value="US861398CC74"/>
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          <couponKind>Fixed</couponKind>
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        <name>CALIFORNIA ST</name>
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        <name>PORT OAKLAND CALIF REV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
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        <name>POWAY CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
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        <name>UPLAND CA CTFS PARTN</name>
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        <name>ROCKLIN CA UNI SCH DIST</name>
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        <name>SOUTH SAN FRANCISCO CALIF PUBFACS FING AUTH LEASE REV</name>
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        <name>SAN BERNARDINO CNTY CA COP</name>
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        <name>MT DIABLO CA UNIFIED SCH DIST</name>
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        <name>SAN MATEO CA UNIFIED SCH DIST</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <name>EMPIRE UNION CA SCH DIST SPL</name>
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        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
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        <name>MT DIABLO CA UNIFIED SCH DIST</name>
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        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
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        <name>VACAVILLE UNIFIED SCH DIST CA</name>
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      </invstOrSec>
      <invstOrSec>
        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
        <lei>N/A</lei>
        <title>BATA CA SER C 2.1% 4/1/45 MT</title>
        <cusip>072024UL4</cusip>
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          <isin value="US072024UL44"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.02100000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
        <title>IRVINE CA IMPT 4% 9/2/2039</title>
        <cusip>46360RH42</cusip>
        <identifiers>
          <isin value="US46360RH425"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>611259.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 4% 1/1/2038</title>
        <cusip>13048T7Y3</cusip>
        <identifiers>
          <isin value="US13048T7Y32"/>
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        <balance>1500000.00000000</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>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
        <lei>N/A</lei>
        <title>Poway USD PFA 5% 9/15/2026</title>
        <cusip>73885QBM0</cusip>
        <identifiers>
          <isin value="US73885QBM06"/>
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        <balance>930000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1004943.68000000</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>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>RANCHO CUCAMONGA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
        <lei>N/A</lei>
        <title>RANCHO CUCAMONG 5% 9/1/2028</title>
        <cusip>75212CAQ2</cusip>
        <identifiers>
          <isin value="US75212CAQ24"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1897943.75000000</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>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2031</title>
        <cusip>13048T4Y6</cusip>
        <identifiers>
          <isin value="US13048T4Y68"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>963696.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>POWAY CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
        <lei>N/A</lei>
        <title>POWAY CAL REDEV 5% 12/15/28</title>
        <cusip>738798AV9</cusip>
        <identifiers>
          <isin value="US738798AV95"/>
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        <balance>2200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2570817.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO ARPT 5% 7/1/2027@</title>
        <cusip>79739GGB6</cusip>
        <identifiers>
          <isin value="US79739GGB68"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>608534.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 5% 7/1/2033</title>
        <cusip>802498QZ1</cusip>
        <identifiers>
          <isin value="US802498QZ17"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>307625.90000000</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>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TURLOCK CA</name>
        <lei>N/A</lei>
        <title>TURLOCK IRR DST 5% 1/1/2031 Q</title>
        <cusip>900190KV0</cusip>
        <identifiers>
          <isin value="US900190KV02"/>
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        <balance>6375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8294341.65000000</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>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2029 AMT</title>
        <cusip>5444354D9</cusip>
        <identifiers>
          <isin value="US5444354D91"/>
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        <balance>1575000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LONG BEACH CA BD FIN AUTH LEAS</name>
        <lei>N/A</lei>
        <title>LONG BEACH CA 5% 8/1/31</title>
        <cusip>542402KU5</cusip>
        <identifiers>
          <isin value="US542402KU56"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>ANTELOPE VALLEY CA CMNTY COLLEGE DIST</name>
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        <title>ANTELOPE VL CCD 5% 8/1/2034</title>
        <cusip>03667PFA5</cusip>
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          <isin value="US03667PFA57"/>
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        <balance>3000000.00000000</balance>
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          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH LEASEREV</name>
        <lei>N/A</lei>
        <title>CALIF CA 13049U 5% 6/1/2036</title>
        <cusip>13049UCW7</cusip>
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          <isin value="US13049UCW71"/>
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      <invstOrSec>
        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
        <lei>N/A</lei>
        <title>GOLDEN ST TOBAC 0% 6/1/2027</title>
        <cusip>38122NGL0</cusip>
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          <isin value="US38122NGL01"/>
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      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 11/1/2029@</title>
        <cusip>735000RR4</cusip>
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          <isin value="US735000RR43"/>
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        <balance>4200000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2029-11-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>CORONA-NORCO CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
        <lei>N/A</lei>
        <title>CORONA-NORCO SP 5% 09/01/2035</title>
        <cusip>21976TGJ5</cusip>
        <identifiers>
          <isin value="US21976TGJ51"/>
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        <balance>585000.00000000</balance>
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        <valUSD>633285.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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        <name>IRVINE CALIF IMPT BD ACT 1915</name>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <name>MANHATTAN BEACH CA UNI SCH DST</name>
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        <name>S ORANGE CNTY CA PFA</name>
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        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>ALAMEDA CORRIDOR TRAN A CA RV</name>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>OAKLAND-ALAMEDA CNTY CA COL AU</name>
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        <name>CALIFORNIA PUB FIN AUTH REV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>SAN DIEGO CA UNI SCH DIST</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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      <invstOrSec>
        <name>CITY OF OAKLAND CA</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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          <isin value="US940204GM66"/>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136XB89"/>
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        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
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          <isin value="US13049YCJ82"/>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080STC8</cusip>
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          <isin value="US13080STC88"/>
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      <invstOrSec>
        <name>CALIFORNIA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>130175W57</cusip>
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          <isin value="US130175W574"/>
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      <invstOrSec>
        <name>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
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          <isin value="US86459LBR87"/>
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        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
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          <isin value="US544587ZP67"/>
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        <name>CALIFORNIA ST UNIV REV</name>
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        <name>EL DORADO CALIF IRR DIST REV</name>
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        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
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          <isin value="US287254DU72"/>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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          <isin value="US13080STF10"/>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048VWM61"/>
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      <invstOrSec>
        <name>TOBACCO SECURITIZATION SOUTH CA TOB SETTLEMENT REV</name>
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          <isin value="US888804BZ38"/>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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          <isin value="US861419TD12"/>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/32@</title>
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          <isin value="US798136VL89"/>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US5444357G95"/>
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      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2035@</title>
        <cusip>542424UZ7</cusip>
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          <isin value="US542424UZ79"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
        <lei>N/A</lei>
        <title>BATA CA 2.625% 4/1/2045</title>
        <cusip>072024VU3</cusip>
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          <isin value="US072024VU34"/>
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        <valUSD>3203418.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.02625000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DEV AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
        <title>CA STWD STUDENT 5% 5/15/2035</title>
        <cusip>13078RGH7</cusip>
        <identifiers>
          <isin value="US13078RGH75"/>
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        <balance>4725000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>ESCONDIDO CA UN HIGH SCH DIST</name>
        <lei>N/A</lei>
        <title>ESCONDIDO CALIF UN HIGH SCH DIST CAP APPREC-ELECTION 2008-SER A</title>
        <cusip>296353KY0</cusip>
        <identifiers>
          <isin value="US296353KY05"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>SAN JACINTO CA UNI SCH DIST</name>
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        <title>SAN JACINTO 5% 8/1/31</title>
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          <isin value="US797848GU62"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080SWP5</cusip>
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        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136WQ67"/>
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        <name>WESTERN RIVERSIDE WTR and WASTEWATER FING AUTH CALIF REV</name>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
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          <isin value="US13049YAU55"/>
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        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136WL70"/>
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        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>LOS ANGELES CA WASTEWTR SYS</name>
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        <name>LONG BEACH CA BD FIN AUTH LEAS</name>
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          <isin value="US542402KM31"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048T3T82"/>
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      <invstOrSec>
        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <title>SAN DIEGO ARPT 5% 7/1/2029 Q</title>
        <cusip>79739GHZ2</cusip>
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          <isin value="US79739GHZ28"/>
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        <fairValLevel>2</fairValLevel>
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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% 7/1/2033</title>
        <cusip>797257AR3</cusip>
        <identifiers>
          <isin value="US797257AR34"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/44</title>
        <cusip>542424VW3</cusip>
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          <isin value="US542424VW30"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SOUTH ORANGE CNTY CA PFA SPL</name>
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          <isin value="US839100JN53"/>
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        <fairValLevel>2</fairValLevel>
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        <name>POWAY CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
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        <name>OXNARD CA UN HIGH SCH DIST</name>
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        <name>POWAY CA UNIFIED SCH DIST</name>
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        <name>SAN BERNADINO CTY UN SCH DIST</name>
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          <isin value="US796711WJ48"/>
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        <name>SAN JACINTO CA UNI SCH DIST</name>
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          <isin value="US797848GQ50"/>
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        <name>CALIFORNIA PUB FIN AUTH UNIV HSG REV</name>
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          <isin value="US13058BAD10"/>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
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        <name>CONTRA COSTA COUNTY SCHOOLS POOLED NOTES</name>
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        <name>FOOTHILL/ESTRN TRANSN CA TOLL</name>
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        <name>S ORANGE CNTY CA PFA</name>
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        <name>PALMDALE CA ELEM SCH DIST</name>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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        <name>SAN MARCOS CA REDEVELOPMENT and SUCCESSOR AGENCY</name>
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        <name>ESCONDIDO CA UN HIGH SCH DIST</name>
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        <name>RICHMOND CALIF WASTEWATER REV</name>
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        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
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        <name>RANCHO CUCAMONGA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
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        <name>EASTERN MUN WTR DIST FING AUTH CA WTR and WASTEWATER REV</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>SAN DIEGO CA PUB FACS FING AUT</name>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT SER D 5% 5/15/29@</title>
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          <isin value="US5444357F13"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN MATEO CNTY CALIF CMNTY COL DIST</name>
        <lei>N/A</lei>
        <title>SAN MATEO CA CC 5% 9/1/2039</title>
        <cusip>799038NJ9</cusip>
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          <isin value="US799038NJ98"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/33@</title>
        <cusip>798136VM6</cusip>
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          <isin value="US798136VM62"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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% 11/15/2035</title>
        <cusip>13032UQN1</cusip>
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          <isin value="US13032UQN18"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 2018 5% 07/01/30</title>
        <cusip>13080SSY1</cusip>
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          <isin value="US13080SSY18"/>
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        <balance>730000.00000000</balance>
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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>VACAVILLE UNIFIED SCH DIST CA</name>
        <lei>N/A</lei>
        <title>VACAVILLE USD 5% 8/1/2023</title>
        <cusip>918608QU7</cusip>
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          <isin value="US918608QU70"/>
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        <balance>930000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
        <lei>N/A</lei>
        <title>POWAY CA UNI 5% 9/1/30</title>
        <cusip>73885QFZ7</cusip>
        <identifiers>
          <isin value="US73885QFZ72"/>
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        <balance>1495000.00000000</balance>
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        <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>
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        <name>WESTERN RIVERSIDE WTR and WASTEWATER FING AUTH CALIF REV</name>
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        <cusip>95942TCX3</cusip>
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          <isin value="US95942TCX37"/>
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        <balance>1750000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
        <lei>N/A</lei>
        <title>MONTEBELLO HOME2 SUITES HILTON</title>
        <cusip>612286DN1</cusip>
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          <isin value="US612286DN15"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>RANCHO CUCAMONGA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
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        <cusip>75212CAP4</cusip>
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          <isin value="US75212CAP41"/>
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        <balance>1700000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
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        <cusip>46360RH34</cusip>
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          <isin value="US46360RH342"/>
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        <balance>350000.00000000</balance>
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        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
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        <title>SAN DIEGO CALI 5% 7/1/2036</title>
        <cusip>797257AU6</cusip>
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          <isin value="US797257AU62"/>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST 5% 10/1/2025</title>
        <cusip>13063DQE1</cusip>
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          <isin value="US13063DQE12"/>
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        <balance>5720000.00000000</balance>
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      <invstOrSec>
        <name>MT DIABLO CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
        <title>MTDIABLO CA USD 4% 8/1/2036 Q</title>
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          <isin value="US621196N914"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 1/1/2032</title>
        <cusip>13048T7S6</cusip>
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          <isin value="US13048T7S63"/>
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      <invstOrSec>
        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
        <lei>N/A</lei>
        <title>ELK GROVE CA FI 5% 9/1/29</title>
        <cusip>287254CW4</cusip>
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          <isin value="US287254CW48"/>
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        <balance>4325000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 3/1/2042</title>
        <cusip>13080SWG5</cusip>
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          <isin value="US13080SWG55"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9103911.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-03-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
        <title>UNIV CAL REV 5% 5/15/2046</title>
        <cusip>91412HKT9</cusip>
        <identifiers>
          <isin value="US91412HKT94"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6492669.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>FULLERTON PUBLI 4% 2/1/2036</title>
        <cusip>359816DB8</cusip>
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          <isin value="US359816DB81"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>706657.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 5/1/22@</title>
        <cusip>735000RA1</cusip>
        <identifiers>
          <isin value="US735000RA18"/>
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        <balance>4175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4257639.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-01</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>FULLERTON PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>FULLERTON PUBLI 4% 2/1/2051</title>
        <cusip>359816DE2</cusip>
        <identifiers>
          <isin value="US359816DE21"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2874232.75000000</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>2051-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
        <lei>N/A</lei>
        <title>POWAY CA UNI 5% 9/1/31</title>
        <cusip>73885QGB9</cusip>
        <identifiers>
          <isin value="US73885QGB95"/>
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        <balance>1260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1428187.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</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>ABAG FIN AU FOR NONPF CO CA RV</name>
        <lei>N/A</lei>
        <title>ABAG FIN AUTH FOR NONPROFIT COSHARP HEALTHCARE-SER A</title>
        <cusip>00037CSH4</cusip>
        <identifiers>
          <isin value="US00037CSH42"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>302372.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
        <title>IRVINE CA IMPT 4% 9/2/2046</title>
        <cusip>46360RH75</cusip>
        <identifiers>
          <isin value="US46360RH755"/>
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        <balance>1350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1624300.29000000</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>2046-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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>SANTA MONICA CALIF PUB FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>SANTA MONICA PF 4% 7/1/2039</title>
        <cusip>802437FW8</cusip>
        <identifiers>
          <isin value="US802437FW82"/>
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        <balance>790000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>907946.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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>WASHINGTON TWP CA HEALTH CARE DIST</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC DI 5.50% 8/1/2038</title>
        <cusip>940642CD1</cusip>
        <identifiers>
          <isin value="US940642CD12"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1687121.55000000</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>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05500000</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>ONTARIO CALIF INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>ONTARIO CALIF I 4% 5/15/2040 @</title>
        <cusip>683042BB0</cusip>
        <identifiers>
          <isin value="US683042BB09"/>
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        <balance>685000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>809127.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST 5% 3/1/2032</title>
        <cusip>13063DTZ1</cusip>
        <identifiers>
          <isin value="US13063DTZ14"/>
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        <balance>4800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6274966.08000000</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>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOS ANGELES CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LA CA USD 4% 7/1/2044</title>
        <cusip>544647DN7</cusip>
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          <isin value="US544647DN71"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5916584.50000000</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>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
        <lei>N/A</lei>
        <title>PITTSBURG CA 5% 9/1/25</title>
        <cusip>86459LBM9</cusip>
        <identifiers>
          <isin value="US86459LBM90"/>
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        <balance>3500000.00000000</balance>
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        <valUSD>4055270.45000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
        <lei>N/A</lei>
        <title>LA CA DWAP 5% 7/1/50</title>
        <cusip>544532BN3</cusip>
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          <isin value="US544532BN30"/>
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        <balance>17155000.00000000</balance>
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        <valUSD>21956238.47000000</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>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>NORTH CITY W CA SCH FACS FING</name>
        <lei>N/A</lei>
        <title>NORTH CITY WEST CA SCH SPL TAXREF-SUB-SER B AMBAC</title>
        <cusip>658620DU0</cusip>
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          <isin value="US658620DU06"/>
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        <balance>1530000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-01</maturityDt>
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          <annualizedRt>0.05250000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA HLTH FACS FIN AUTH</name>
        <lei>N/A</lei>
        <title>CA HLTH 5% 11/15/2022</title>
        <cusip>13033LA31</cusip>
        <identifiers>
          <isin value="US13033LA318"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-11-15</maturityDt>
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      <invstOrSec>
        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
        <lei>N/A</lei>
        <title>MONTEBELLO HOME2 SUITES HILTON</title>
        <cusip>612286DP6</cusip>
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          <isin value="US612286DP62"/>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2051 @</title>
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          <isin value="US544445SY67"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>STOCKTON CA USD 5% 7/1/23</title>
        <cusip>861419SP5</cusip>
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          <isin value="US861419SP50"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080SSZ8</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13048VJW90"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <cusip>5444357H7</cusip>
        <identifiers>
          <isin value="US5444357H78"/>
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        <balance>2540000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
        <lei>N/A</lei>
        <title>BATA CA SER B 2.85% 4/1/47 MT</title>
        <cusip>072024UK6</cusip>
        <identifiers>
          <isin value="US072024UK60"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>ONTARIO CALIF I 5% 5/15/2046</title>
        <cusip>683042AM7</cusip>
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          <isin value="US683042AM72"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-05-15</maturityDt>
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          <annualizedRt>0.05000000</annualizedRt>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 5% 7/1/2030</title>
        <cusip>802498QW8</cusip>
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          <isin value="US802498QW85"/>
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        <balance>250000.00000000</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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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 11/1/2032</title>
        <cusip>13080SSH8</cusip>
        <identifiers>
          <isin value="US13080SSH84"/>
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        <balance>1135000.00000000</balance>
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          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <name>CALIFORNIA INFRASTRUCTURE and ECONOMIC DEV BK LEASE REV</name>
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        <title>CALIFORNIA IE 5% 8/1/2049</title>
        <cusip>13034RAU7</cusip>
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        <name>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
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          <isin value="US915346FZ89"/>
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        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
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          <isin value="US544587B319"/>
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        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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        <title>SAN PABLO CA RV 5% 6/15/2027</title>
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          <isin value="US799147AN38"/>
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        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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          <isin value="US786107PE60"/>
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        <name>PERRIS CALIF UN HIGH SCH DIST</name>
        <lei>N/A</lei>
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        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
        <title>CA MUN FIN AUT 4% 5/15/2046</title>
        <cusip>13049YFP1</cusip>
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          <isin value="US13049YFP16"/>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <cusip>79766DLF4</cusip>
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          <isin value="US79766DLF41"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
        <lei>N/A</lei>
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        <cusip>287254EC6</cusip>
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          <isin value="US287254EC65"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ROCKLIN CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>ROCKLIN CALIF UNI SCH DIST FGIC</title>
        <cusip>773754FJ0</cusip>
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          <isin value="US773754FJ04"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST UNREFUNDED BALANCE-2007</title>
        <cusip>13062TU44</cusip>
        <identifiers>
          <isin value="US13062TU441"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05625000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>FULLERTON PUBLI 4% 2/1/2046</title>
        <cusip>359816DD4</cusip>
        <identifiers>
          <isin value="US359816DD48"/>
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        <balance>2055000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2373740.57000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO ARPT 5% 7/1/2028@</title>
        <cusip>79739GGC4</cusip>
        <identifiers>
          <isin value="US79739GGC42"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1211432.10000000</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>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CARLSBAD CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>CARLSBAD CA USD 4% 5/1/2031</title>
        <cusip>142665EV6</cusip>
        <identifiers>
          <isin value="US142665EV62"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1745085.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2036</title>
        <cusip>13048VGF9</cusip>
        <identifiers>
          <isin value="US13048VGF94"/>
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        <balance>1125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1390991.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
        <lei>N/A</lei>
        <title>CA PUB WKS 4% 8/1/2037 Q</title>
        <cusip>13068XCJ6</cusip>
        <identifiers>
          <isin value="US13068XCJ63"/>
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        <balance>8425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9781820.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN MATEO CNTY CALIF JT PWRS FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>SAN MATEO CN 5% 7/15/2024</title>
        <cusip>79904NGV6</cusip>
        <identifiers>
          <isin value="US79904NGV64"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4491649.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CORONA-NORCO CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
        <lei>N/A</lei>
        <title>CORONA-NORCO SP 5% 09/01/2028</title>
        <cusip>21976TGG1</cusip>
        <identifiers>
          <isin value="US21976TGG13"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1353174.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 4/1/2030</title>
        <cusip>130179TK0</cusip>
        <identifiers>
          <isin value="US130179TK05"/>
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        <balance>425000.00000000</balance>
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        <valUSD>556079.78000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
        <lei>N/A</lei>
        <title>SACRAMENTO USD 0% 7/1/2028</title>
        <cusip>785870RM0</cusip>
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          <isin value="US785870RM08"/>
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        <balance>1450000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
        <title>IRVINE CA IMPT 5% 9/2/2044</title>
        <cusip>46360RF28</cusip>
        <identifiers>
          <isin value="US46360RF288"/>
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        <balance>2545000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-09-02</maturityDt>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/25@</title>
        <cusip>544445BP3</cusip>
        <identifiers>
          <isin value="US544445BP34"/>
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        <balance>1750000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>WEST CONTRA USD 5% 8/1/2028</title>
        <cusip>952347D82</cusip>
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          <isin value="US952347D822"/>
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        <balance>1000000.00000000</balance>
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          <maturityDt>2028-08-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN MATEO FOSTER CITY CALIF PUB FING AUTH WASTEWATER REV</name>
        <lei>N/A</lei>
        <title>SAN MATEO FOST 5% 8/1/2049</title>
        <cusip>79905VAX9</cusip>
        <identifiers>
          <isin value="US79905VAX91"/>
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        <balance>8000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-01</maturityDt>
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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 4% 4/1/2049</title>
        <cusip>13032UXF0</cusip>
        <identifiers>
          <isin value="US13032UXF01"/>
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        <balance>7000000.00000000</balance>
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        <valUSD>8082705.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>OAKLAND CA UNI SCH D ALAM CNTY</name>
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          <isin value="US672325XT95"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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      <invstOrSec>
        <name>RIVERSIDE CA SWR REV</name>
        <lei>N/A</lei>
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          <isin value="US769047HM69"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WALNUT VLY CA USD BAN</name>
        <lei>N/A</lei>
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          <isin value="US932889PR36"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
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          <isin value="US915346FY15"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 11/1/2027@</title>
        <cusip>735000RP8</cusip>
        <identifiers>
          <isin value="US735000RP86"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 10/1/2046</title>
        <cusip>130179QG2</cusip>
        <identifiers>
          <isin value="US130179QG20"/>
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        <balance>6235000.00000000</balance>
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        <curCd>USD</curCd>
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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% 6/1/33</title>
        <cusip>13048T2N2</cusip>
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          <isin value="US13048T2N22"/>
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          <couponKind>Fixed</couponKind>
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        <name>SOUTHWESTERN CMNTY COLLEGE DIST CA</name>
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          <isin value="US845389BT13"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US952347D905"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
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          <isin value="US13062T4C57"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13048VJY56"/>
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        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH SR LIVING HEALTH FAC REV</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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          <isin value="US13080SSX35"/>
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        <name>SAN BERNARDINO CNTY CA COP</name>
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      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
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          <isin value="US46360RE869"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13048T4D22"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CNTY CA PUB WKS</name>
        <lei>N/A</lei>
        <title>LA PUB LEASE RV 5% 12/1/2041</title>
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          <isin value="US54473EXL37"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>EASTERN CALIF MUN WTR DIST WTR and WASTEWATER REV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
        <lei>N/A</lei>
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          <isin value="US786073AQ97"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 10/1/2036</title>
        <cusip>130179QC1</cusip>
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          <isin value="US130179QC16"/>
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        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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          <isin value="US786107RV67"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SANTA MONICA CALIF PUB FING AUTH LEASE REV</name>
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          <isin value="US802437FU27"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2029 @</title>
        <cusip>798136WZ6</cusip>
        <identifiers>
          <isin value="US798136WZ66"/>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 4/1/2030</title>
        <cusip>130179MV3</cusip>
        <identifiers>
          <isin value="US130179MV33"/>
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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 EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA SANTA CLARA 5.25 9/1/26</title>
        <cusip>130175DK5</cusip>
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          <ticker value="CASEDU"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.05250000</annualizedRt>
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      <invstOrSec>
        <name>MURRIETA VY CA UNI SCH DIST</name>
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          <isin value="US626905LD34"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
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          <isin value="US802498QX68"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN MATEO CNTY CALIF CMNTY COL DIST</name>
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          <isin value="US799038NG59"/>
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        <name>SOUTHWESTERN CMNTY COLLEGE DIST CA</name>
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          <isin value="US845389BU85"/>
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        <name>LA QUINTA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
        <lei>N/A</lei>
        <title>LA QUINTA CA RD 5% 9/1/2027</title>
        <cusip>50420BBY7</cusip>
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          <isin value="US50420BBY74"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 4% 10/1/2037</title>
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          <isin value="US13048VWR58"/>
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      <invstOrSec>
        <name>ABAG FIN AU FOR NONPF CO CA RV</name>
        <lei>N/A</lei>
        <title>ABAG FIN AUTH FOR NONPROFIT COSHARP HEALTHCARE-SER A</title>
        <cusip>00037CSJ0</cusip>
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          <isin value="US00037CSJ08"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
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        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
        <lei>N/A</lei>
        <title>LA CA MUNI IMPT 5% 5/1/2025</title>
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          <isin value="US544587ZH42"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13048VDP04"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>SAN FRANCISCO CA BART DIST TAX</name>
        <lei>N/A</lei>
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          <isin value="US797669ZE16"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <title>WA TWP CA HC 5% 7/1/2031</title>
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          <isin value="US940204GK01"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2029 @</title>
        <cusip>798136VH7</cusip>
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          <isin value="US798136VH77"/>
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          <maturityDt>2029-03-01</maturityDt>
          <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% 7/1/2051</title>
        <cusip>544525D39</cusip>
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          <isin value="US544525D398"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
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        <title>GOLDEN ST TOBAC 5% 6/1/2022</title>
        <cusip>38122NYW6</cusip>
        <identifiers>
          <isin value="US38122NYW63"/>
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        <balance>2000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2025 AMT</title>
        <cusip>5444353Z1</cusip>
        <identifiers>
          <isin value="US5444353Z13"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2582327.48000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LONG BEACH CA BD FIN AUTH LEAS</name>
        <lei>N/A</lei>
        <title>LONG BEACH CA SER A 5% 8/1/30</title>
        <cusip>542402KT8</cusip>
        <identifiers>
          <isin value="US542402KT83"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2027 @</title>
        <cusip>798136WX1</cusip>
        <identifiers>
          <isin value="US798136WX19"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>905142.08000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
        <title>UNIV CAL REV 4% 5/15/2050</title>
        <cusip>91412HHJ5</cusip>
        <identifiers>
          <isin value="US91412HHJ59"/>
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        <balance>6855000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LA QUINTA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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        <title>LA QUINTA CA RD 5% 9/1/2025</title>
        <cusip>50420BBW1</cusip>
        <identifiers>
          <isin value="US50420BBW19"/>
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        <balance>2000000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SAN JACINTO CA UNI SCH DIST</name>
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        <cusip>797848GT9</cusip>
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          <isin value="US797848GT99"/>
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        <balance>4070000.00000000</balance>
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          <maturityDt>2030-08-01</maturityDt>
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        <name>SAN FRANCISCO CA BART DIST TAX</name>
        <lei>N/A</lei>
        <title>SAN FRAN BART 4% 7/1/2039</title>
        <cusip>797669ZF8</cusip>
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          <isin value="US797669ZF80"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 5% 7/1/2034</title>
        <cusip>802498RA5</cusip>
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          <isin value="US802498RA56"/>
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        <balance>315000.00000000</balance>
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        <name>SAN MATEO CNTY CALIF CMNTY COL DIST</name>
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          <isin value="US799038NH33"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 2018 5% 07/01/27</title>
        <cusip>13080SSV7</cusip>
        <identifiers>
          <isin value="US13080SSV78"/>
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        <balance>245000.00000000</balance>
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        <valUSD>299523.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 4% 5/15/31</title>
        <cusip>13048TY98</cusip>
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          <isin value="US13048TY988"/>
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        <balance>2150000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
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          <isin value="US072031BU05"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 6/1/30</title>
        <cusip>13048T2K8</cusip>
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          <isin value="US13048T2K82"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
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        <cusip>544587B49</cusip>
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          <isin value="US544587B491"/>
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        <valUSD>444369.28000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>RICHMOND CALIF WASTEWATER REV</name>
        <lei>N/A</lei>
        <title>RICHMOND CA WTR 5% 8/1/2039</title>
        <cusip>764507DA4</cusip>
        <identifiers>
          <isin value="US764507DA46"/>
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        <balance>390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>495778.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA HLTH FACS FIN AUTH</name>
        <lei>N/A</lei>
        <title>CA HLTH 5% 11/15/2023</title>
        <cusip>13033LA49</cusip>
        <identifiers>
          <isin value="US13033LA490"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2089948.40000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
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        <cusip>544587K31</cusip>
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          <isin value="US544587K310"/>
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        <balance>1500000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>ABAG FIN AU FOR NONPF CO CA RV</name>
        <lei>N/A</lei>
        <title>ABAG NON-PROFIT 5% 8/1/25</title>
        <cusip>00037CSF8</cusip>
        <identifiers>
          <isin value="US00037CSF85"/>
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        <balance>1245000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH(CEDARS-SINAI,CA) 4% 8/15/48</title>
        <cusip>13032UB23</cusip>
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          <isin value="US13032UB236"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5929716.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-15</maturityDt>
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          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 11/1/2028@</title>
        <cusip>735000RQ6</cusip>
        <identifiers>
          <isin value="US735000RQ69"/>
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        <balance>4925000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6006268.98000000</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>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH LEASEREV</name>
        <lei>N/A</lei>
        <title>CALIF CA 13049U 5% 6/1/2032</title>
        <cusip>13049UCS6</cusip>
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          <isin value="US13049UCS69"/>
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        <balance>2750000.00000000</balance>
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        <valUSD>3366636.35000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CARLSBAD CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>CARLSBAD CA USD 4% 5/1/2032</title>
        <cusip>142665EW4</cusip>
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          <isin value="US142665EW46"/>
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        <balance>1150000.00000000</balance>
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        <valUSD>1335464.87000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>MT DIABLO CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
        <title>MTDIABLO CA USD 4% 6/1/2037 Q</title>
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          <isin value="US621196P323"/>
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        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/41@</title>
        <cusip>544445CB3</cusip>
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          <isin value="US544445CB39"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2032</title>
        <cusip>13048VGD4</cusip>
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          <isin value="US13048VGD47"/>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT 5% 5/15/26@</title>
        <cusip>544445BQ1</cusip>
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          <isin value="US544445BQ17"/>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT 5% 5/15/34@</title>
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          <isin value="US544445NN57"/>
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        <balance>950000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 10/1/2036</title>
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          <isin value="US13048TW909"/>
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        <balance>1250000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-01</maturityDt>
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      <invstOrSec>
        <name>LADERA RANCH CFD 2004-1</name>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136VN46"/>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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          <isin value="US13032URA87"/>
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        <name>ANTELOPE VALLEY CA CMNTY COLLEGE DIST</name>
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          <isin value="US03667PEZ18"/>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT 5% 5/15/2028 AMT</title>
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          <isin value="US5444354C19"/>
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        <name>RIVERSIDE CA SWR REV</name>
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          <isin value="US769047HN43"/>
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        <fairValLevel>2</fairValLevel>
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        <name>OCEANSIDE CALIF UNI SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CNTY CA PUB WKS</name>
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          <isin value="US54473EXM10"/>
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        <name>ELK GROVE CA UNI SCH DI SPL TX</name>
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        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
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        <name>SANTA BARBARA CALIF FING AUTHREV</name>
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        <name>CALIFORNIA CA TOB SECURITAZTN</name>
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          <isin value="US13016NEN03"/>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US544445NJ46"/>
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        <name>RICHMOND CALIF WASTEWATER REV</name>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <name>MONROVIA CALIF UNI SCH DIST</name>
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          <isin value="US611594GD88"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MIZUHO FLOATER / RESIDUAL TR VAR STS</name>
        <lei>N/A</lei>
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        <cusip>60700HDM8</cusip>
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          <isin value="US60700HDM88"/>
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      <invstOrSec>
        <name>RANCHO CUCAMONGA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
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          <isin value="US75212CAR07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
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        <cusip>798136WH6</cusip>
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          <isin value="US798136WH68"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <title>CA STWD 2018 5% 07/01/43</title>
        <cusip>13080STH7</cusip>
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          <isin value="US13080STH75"/>
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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>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
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        <cusip>46360RLU9</cusip>
        <identifiers>
          <isin value="US46360RLU94"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-02</maturityDt>
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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% 7/1/2042</title>
        <cusip>797257AX0</cusip>
        <identifiers>
          <isin value="US797257AX02"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6022191.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>RIVERSIDE CA ELEC REV</name>
        <lei>N/A</lei>
        <title>RIVSIDE CA ELEC 5% 10/1/2043</title>
        <cusip>768874UU1</cusip>
        <identifiers>
          <isin value="US768874UU13"/>
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        <balance>3840000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4810026.24000000</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>2043-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 4% 4/1/2038</title>
        <cusip>13080SC28</cusip>
        <identifiers>
          <isin value="US13080SC286"/>
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        <balance>2625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3090093.83000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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        <title>LA CA DWAP PWR 21A3 Q=RC V1+</title>
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          <isin value="US544532BP87"/>
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        <balance>6000000.00000000</balance>
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        <valUSD>6000000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
        <lei>N/A</lei>
        <title>SAN PABLO CA RV 5% 6/15/2030</title>
        <cusip>799147AR4</cusip>
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          <isin value="US799147AR42"/>
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        <fairValLevel>2</fairValLevel>
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        <name>ROSEVILLE CA CITY SCH DIST</name>
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          <ticker value="ROSSCD"/>
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        <name>CALIFORNIA MUN FIN AUTH MULTIFAMILY HSG REV</name>
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        <title>CA ST MFA MHSG 2.65% 8/1/2036</title>
        <cusip>130483DZ0</cusip>
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          <isin value="US130483DZ07"/>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <title>SAN JOSE ARPT 5% 3/1/37@</title>
        <cusip>798136VR5</cusip>
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          <isin value="US798136VR59"/>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <title>WA TWP CA HC 5% 7/1/2031</title>
        <cusip>940204FN5</cusip>
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          <isin value="US940204FN58"/>
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        <balance>875000.00000000</balance>
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          <maturityDt>2031-07-01</maturityDt>
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        <securityLending>
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      <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>
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          <isin value="US13049YAV39"/>
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        <balance>4635000.00000000</balance>
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        <debtSec>
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        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
        <lei>N/A</lei>
        <title>GOLDEN ST TOBAC 5% 6/1/2025</title>
        <cusip>38122NYZ9</cusip>
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          <isin value="US38122NYZ94"/>
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        <valUSD>3513306.59000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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    <signature>
      <ncom:dateSigned>2021-12-30</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>
