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          <isin value="US820174EN67"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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          <isin value="US13068LZU24"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>LAMMERSVILLE CALIF SCHS FIN AUTH LEASE REV</name>
        <lei>N/A</lei>
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        <cusip>513540AR5</cusip>
        <identifiers>
          <isin value="US513540AR57"/>
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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>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOS ANGELES CA CCD</name>
        <lei>N/A</lei>
        <title>LA CA CCD 4% 8/1/2033</title>
        <cusip>54438CXH0</cusip>
        <identifiers>
          <isin value="US54438CXH05"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2590118.00000000</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>0.04000000</annualizedRt>
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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 5% 10/1/2027</title>
        <cusip>13080SPA6</cusip>
        <identifiers>
          <isin value="US13080SPA68"/>
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        <balance>2360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2429502.94000000</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>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <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% 5/15/27@</title>
        <cusip>544445BR9</cusip>
        <identifiers>
          <isin value="US544445BR99"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1030260.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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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>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2032</title>
        <cusip>13048T4Z3</cusip>
        <identifiers>
          <isin value="US13048T4Z34"/>
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        <balance>1385000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1435125.23000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST UNREFUNDED BALANCE</title>
        <cusip>13062T4E1</cusip>
        <identifiers>
          <isin value="US13062T4E14"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5010.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05250000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST 5.5% 4/1/30</title>
        <cusip>13062T4F8</cusip>
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          <isin value="US13062T4F88"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25055.65000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05500000</annualizedRt>
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      <invstOrSec>
        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <cusip>79766DNT2</cusip>
        <identifiers>
          <isin value="US79766DNT27"/>
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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>2047-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LA CA USD 3% 7/1/2035</title>
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        <identifiers>
          <isin value="US544647DF48"/>
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        <balance>4025000.00000000</balance>
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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>0.03000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
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          <isin value="US13016NEP50"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2037</title>
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          <isin value="US13048T4L48"/>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US544445FB02"/>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
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          <isin value="US802498RE78"/>
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        <name>SANTA ROSA CA WSTWTR</name>
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          <isin value="US802649LS01"/>
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      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2027@</title>
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          <isin value="US542424UR53"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST UNREFUNDED BALANCE-2007</title>
        <cusip>13062TU51</cusip>
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          <isin value="US13062TU516"/>
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        <balance>90000.00000000</balance>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
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        <name>ABC CALIF UNI SCH DIST</name>
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          <isin value="US000416L549"/>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US544445NV73"/>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <cusip>940204FL9</cusip>
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          <isin value="US940204FL92"/>
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        <name>VERNON CALIF ELEC SYS REV</name>
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          <isin value="US924397FH08"/>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DEV AUTH STUDENT HSG REV</name>
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        <cusip>13078RGG9</cusip>
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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>
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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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          <isin value="US79766DFR52"/>
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        <name>SAN JACINTO CA UNI SCH DIST</name>
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        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136WM53"/>
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        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US5444354B36"/>
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        <name>EL RANCHO CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US283839ZL54"/>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
        <lei>N/A</lei>
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        <cusip>940204GJ3</cusip>
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          <isin value="US940204GJ38"/>
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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>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 4% 7/1/2036</title>
        <cusip>802498RC1</cusip>
        <identifiers>
          <isin value="US802498RC13"/>
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        <curCd>USD</curCd>
        <valUSD>444709.11000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      </invstOrSec>
      <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>
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          <isin value="US542433SL29"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <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>
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          <isin value="US13048TZ225"/>
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        <balance>1000000.00000000</balance>
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        <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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        <securityLending>
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      </invstOrSec>
      <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>1267418.88000000</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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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 3% 10/1/2041</title>
        <cusip>13032UFM5</cusip>
        <identifiers>
          <isin value="US13032UFM53"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>379212.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</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% 7/1/2034</title>
        <cusip>13048T4H3</cusip>
        <identifiers>
          <isin value="US13048T4H36"/>
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        <balance>1395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1442128.26000000</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>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <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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        <curCd>USD</curCd>
        <valUSD>872135.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <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% 7/1/2032</title>
        <cusip>940204FP0</cusip>
        <identifiers>
          <isin value="US940204FP07"/>
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        <balance>890000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>918100.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2037</title>
        <cusip>13048VGG7</cusip>
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          <isin value="US13048VGG77"/>
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        <balance>1475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1555562.29000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>FOOTHILL-DE ANZA CA CMTY COL D</name>
        <lei>N/A</lei>
        <title>FOOTHILL-DE ANZA CA CCD ELEC 1999-SER B FGIC</title>
        <cusip>345102DN4</cusip>
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          <isin value="US345102DN48"/>
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        <valUSD>4845984.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>PUERTO RICO COMWLTH AQUEDUCT and SWR AUTH REV</name>
        <lei>N/A</lei>
        <title>PR AQUEDUC 5% 7/1/2037</title>
        <cusip>745160TG6</cusip>
        <identifiers>
          <isin value="US745160TG64"/>
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        <balance>5110000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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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>GLENDALE CA WTR REV</name>
        <lei>N/A</lei>
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        <cusip>378478CQ2</cusip>
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          <isin value="US378478CQ27"/>
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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>
        <cusip>952347D66</cusip>
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          <isin value="US952347D665"/>
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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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          <isin value="US607715FE49"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-11-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2036</title>
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          <isin value="US13048T4K64"/>
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        <balance>1500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SAN DIEGO CA PUB FACS FING AUT</name>
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      <invstOrSec>
        <name>POWAY CA UNIFIED SCH DIST</name>
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        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
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          <isin value="US358233CV44"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>SANTA BARBARA CALIF FING AUTHREV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048VWT15"/>
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      <invstOrSec>
        <name>TOBACCO SECURITIZATION SOUTH CA TOB SETTLEMENT REV</name>
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          <isin value="US888804CB50"/>
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        <name>CALIFORNIA MUN FIN AUTH LEASEREV</name>
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          <isin value="US13049UCU16"/>
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        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
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        <name>UPLAND CA CTFS PARTN</name>
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        <name>CALIFORNIA CA TOB SECURITAZTN</name>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>NORWALK LA MIRADA CA UNI SCH</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <name>WALNUT VLY CA USD BAN</name>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF CITY and CNTY REDEV AGY SUCCESSOR AGY CMNTY FACS DIST SPL TAX</name>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
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          <isin value="US798136WK97"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA PUB FIN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13057EDU55"/>
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        <issuerCat>MUN</issuerCat>
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          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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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@</title>
        <cusip>79739GGE0</cusip>
        <identifiers>
          <isin value="US79739GGE08"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SAN DIEGO CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>SAN DIEG CA USD 0% 07/01/2045</title>
        <cusip>797355N75</cusip>
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          <isin value="US797355N757"/>
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        <balance>4770000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>SAN JACINTO CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>SAN JACINTO 5% 8/1/29</title>
        <cusip>797848GW2</cusip>
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          <isin value="US797848GW29"/>
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        <balance>3150000.00000000</balance>
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        <valUSD>3193613.96000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>MENDOCINO-LAKE CMNTY COLLEGE DIST CALIF</name>
        <lei>N/A</lei>
        <title>MENDOCINO-LAKE 3% 8/1/2041</title>
        <cusip>58661PDN9</cusip>
        <identifiers>
          <isin value="US58661PDN96"/>
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        <balance>1050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>854859.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
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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% 7/1/2047@</title>
        <cusip>79739GGP5</cusip>
        <identifiers>
          <isin value="US79739GGP54"/>
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        <balance>5250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5291894.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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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% 7/1/2033@</title>
        <cusip>79739GGH3</cusip>
        <identifiers>
          <isin value="US79739GGH39"/>
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        <balance>1330000.00000000</balance>
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        <valUSD>1384889.37000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC 5% 7/1/2032</title>
        <cusip>940204EV8</cusip>
        <identifiers>
          <isin value="US940204EV83"/>
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        <balance>1350000.00000000</balance>
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        <valUSD>1374868.49000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
        <title>CA MUN FIN AUT 5% 5/15/2035</title>
        <cusip>13049YCC3</cusip>
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          <isin value="US13049YCC30"/>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 4% 7/1/2037</title>
        <cusip>802498RD9</cusip>
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          <isin value="US802498RD95"/>
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        <balance>475000.00000000</balance>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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          <isin value="US13068XCG25"/>
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      <invstOrSec>
        <name>LONG BEACH CA CMNTY COLLEGE</name>
        <lei>N/A</lei>
        <title>LONGBEACH CA CC 0% 6/1/2031</title>
        <cusip>542411JK0</cusip>
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          <isin value="US542411JK01"/>
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        <name>HUNTINGTON BEACH CALIF UN HIGH SCH DIST CTFS PARTN</name>
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        <cusip>446231DU3</cusip>
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          <isin value="US446231DU31"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH SR LIVING REV</name>
        <lei>N/A</lei>
        <title>CALIF CA 5% 11/15/2039</title>
        <cusip>13049RBF2</cusip>
        <identifiers>
          <isin value="US13049RBF29"/>
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          <maturityDt>2039-11-15</maturityDt>
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      <invstOrSec>
        <name>FRESNO CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>FRESNO CA ARPT 5% 7/1/2041 @</title>
        <cusip>358100FM2</cusip>
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          <isin value="US358100FM26"/>
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        <balance>2760000.00000000</balance>
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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>LOS ANGELES CA UNI SCH DIST</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>UNIVERSITY CA REVS</name>
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        <name>POWAY CA UNIFIED SCH DIST</name>
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        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
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        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048VDQ86"/>
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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>
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          <isin value="US130179QA59"/>
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      <invstOrSec>
        <name>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
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        <title>PITTSBURG CA 5% 9/1/24</title>
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          <isin value="US86459LBL18"/>
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        <debtSec>
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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% 3/1/2030 @</title>
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          <isin value="US798136XA07"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
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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>940204FM7</cusip>
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          <isin value="US940204FM75"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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>
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          <isin value="US820174DN76"/>
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        <valUSD>904446.70000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <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>
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          <isin value="US799038NF76"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1102622.20000000</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>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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        <balance>2400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2525476.80000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</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% 11/15/27</title>
        <cusip>899124KE0</cusip>
        <identifiers>
          <isin value="US899124KE08"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1563026.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
        <lei>N/A</lei>
        <title>CA CNTY TOBAC 5% 6/1/2029</title>
        <cusip>13016NEM2</cusip>
        <identifiers>
          <isin value="US13016NEM20"/>
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        <balance>500000.00000000</balance>
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        <valUSD>537048.35000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</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% 8/15/30</title>
        <cusip>13048T3M3</cusip>
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          <isin value="US13048T3M30"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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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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        <fairValLevel>2</fairValLevel>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <title>SAN DIEGO ARPT 5% 7/1/2030 Q</title>
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          <isin value="US79739GJA58"/>
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        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
        <title>CA MUN FIN AUT 5% 5/15/2034</title>
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          <isin value="US13049YBC49"/>
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        <name>EASTERN MUN WTR DIST FING AUTH CA WTR and WASTEWATER REV</name>
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          <isin value="US27677SBD45"/>
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        <name>ORANGE CNTY CALIF SANTN WASTEWATER REV</name>
        <lei>N/A</lei>
        <title>ORANGE CNTY CA 5% 2/1/36</title>
        <cusip>68428TCT2</cusip>
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          <isin value="US68428TCT25"/>
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        <name>EMPIRE UNION CA SCH DIST SPL</name>
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        <title>EMPIRE UN CA SCH DIST SPL TAX CMNTY FACS DIST NO 1987-1-A AMBAC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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          <isin value="US13080SPD08"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <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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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LONG BEACH CA UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US542433SK46"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH SR LIVING HEALTH FAC REV</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <cusip>13081KAU4</cusip>
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          <isin value="US13081KAU43"/>
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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>LOS ANGELES CA DEPT ARPTS REV</name>
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        <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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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <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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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/31@</title>
        <cusip>798136VK0</cusip>
        <identifiers>
          <isin value="US798136VK07"/>
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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>
        <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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        <curCd>USD</curCd>
        <valUSD>1819057.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
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        <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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        <valUSD>2052758.48000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
        <lei>N/A</lei>
        <title>SACRAMENTO TRAN 5% 6/1/2036</title>
        <cusip>786073AS5</cusip>
        <identifiers>
          <isin value="US786073AS53"/>
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        <balance>2215000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <name>SANTA CLARA CNTY CA FING LEASE</name>
        <lei>N/A</lei>
        <title>SANTA CLARA CY 3% 5/1/2041</title>
        <cusip>801577NF0</cusip>
        <identifiers>
          <isin value="US801577NF02"/>
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        <balance>2000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <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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        <balance>2500000.00000000</balance>
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      <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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        <balance>575000.00000000</balance>
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        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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        <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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        <fairValLevel>2</fairValLevel>
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        <name>MODESTO CA ELEM SD STANISLAUS</name>
        <lei>N/A</lei>
        <title>MODESTO CALIF ELEM SCH DIST STANISLAUS CNTY CAP APPREC-SER A FGIC</title>
        <cusip>607735AS6</cusip>
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          <isin value="US607735AS69"/>
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        <name>TRANSMISSION AGENCY OF NORTHERN CALIFORNIA</name>
        <lei>N/A</lei>
        <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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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-01</maturityDt>
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        <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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        <valUSD>1474752.46000000</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>2034-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048T3L56"/>
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      <invstOrSec>
        <name>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
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          <isin value="US915346FV75"/>
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        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
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          <isin value="US358233CR32"/>
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        <name>TULARE CA SWR REV</name>
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          <isin value="US899124KC42"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>SOUTH BAYSIDE WASTE MGMT AUTH CALIF SOLID WASTE ENTERPRISE</name>
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          <isin value="US83646ACZ49"/>
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        <name>CALIFORNIA ST UNIV REV</name>
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          <isin value="US13077DSZ68"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <title>CA ST MFA REV 5% 10/1/26</title>
        <cusip>13048TV75</cusip>
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          <isin value="US13048TV752"/>
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      <invstOrSec>
        <name>SANTA BARBARA CALIF FING AUTHREV</name>
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          <isin value="US801262BH87"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>SANTA CLARA CNTY CA FING LEASE</name>
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        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
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        <title>BATA CA 2% MT</title>
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        <name>RIVERSIDE CNTY CALIF TRANSN COMMN TOLL REV</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048T2Q52"/>
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        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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        <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>
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          <isin value="US73885QGF00"/>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
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      <invstOrSec>
        <name>MIDDLE FORK PROJECT FINANCE AUTHORITY</name>
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          <isin value="US59572CAJ62"/>
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      <invstOrSec>
        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US952347TC66"/>
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      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
        <lei>N/A</lei>
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          <isin value="US785870B887"/>
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      <invstOrSec>
        <name>PUERTO RICO COMWLTH</name>
        <lei>N/A</lei>
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          <isin value="US74514L3G08"/>
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        <balance>595000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>POWAY CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
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          <isin value="US738798AS66"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN MARCOS CALIF UNI SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2030</title>
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          <isin value="US13048VGB80"/>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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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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        <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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        <name>FRESNO CALIF ARPT REV</name>
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          <isin value="US358100FL43"/>
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        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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        <name>SOUTH BAYSIDE WASTE MGMT AUTH CALIF SOLID WASTE ENTERPRISE</name>
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          <isin value="US83646ABX00"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2025 @</title>
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          <isin value="US798136WV52"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TULARE CA SWR REV</name>
        <lei>N/A</lei>
        <title>TULARE CA SWR 5% 11/15/26</title>
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          <isin value="US899124KD25"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      </invstOrSec>
      <invstOrSec>
        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
        <lei>N/A</lei>
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          <isin value="US287254DR44"/>
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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% 9/1/34</title>
        <cusip>73885QGE3</cusip>
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          <isin value="US73885QGE35"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <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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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MURRIETA VY CA UNI SCH DIST</name>
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          <isin value="US626905JF10"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 10/1/28</title>
        <cusip>13048TV91</cusip>
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          <isin value="US13048TV919"/>
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        <balance>2130000.00000000</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>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <name>SAN DIEGO CA PUB FACS FING AUT</name>
        <lei>N/A</lei>
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        <cusip>797299KD5</cusip>
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          <isin value="US797299KD53"/>
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        <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>
        <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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        <valUSD>1542694.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <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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      <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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        <valUSD>4206848.00000000</valUSD>
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        <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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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080SPB4</cusip>
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          <isin value="US13080SPB42"/>
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        <balance>1230000.00000000</balance>
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        <valUSD>1268665.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <name>POWAY CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
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        <cusip>738798AW7</cusip>
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          <isin value="US738798AW78"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
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        <title>LA CA MUNI IMPT 5% 5/1/2029</title>
        <cusip>544587ZM3</cusip>
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          <isin value="US544587ZM37"/>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <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>
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          <isin value="US802437GT45"/>
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        <fairValLevel>2</fairValLevel>
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        <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>
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          <isin value="US786107RT12"/>
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        <fairValLevel>2</fairValLevel>
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        <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>
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          <isin value="US799038NK61"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2040-09-01</maturityDt>
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        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 5% 7/1/2032 @</title>
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          <isin value="US786107RR55"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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        <cusip>13032UPV4</cusip>
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          <isin value="US13032UPV43"/>
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        <valUSD>1798796.48000000</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>2042-11-15</maturityDt>
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      </invstOrSec>
      <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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        <valUSD>709208.48000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <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>1083694.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <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>
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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>
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        <curCd>USD</curCd>
        <valUSD>2558969.50000000</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>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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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>773754FF8</cusip>
        <identifiers>
          <isin value="US773754FF81"/>
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        <balance>6370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6165001.30000000</valUSD>
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        <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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      </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>10234195.53000000</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>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>1064691.90000000</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>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROCKLIN CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>ROCKLIN CALIF UNI SCH DIST FGIC</title>
        <cusip>773754FG6</cusip>
        <identifiers>
          <isin value="US773754FG64"/>
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        <balance>6725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6280625.45000000</valUSD>
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        <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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      </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>967230.11000000</valUSD>
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        <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>
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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% 10/1/2024</title>
        <cusip>072031BR7</cusip>
        <identifiers>
          <isin value="US072031BR75"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2040909.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</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% 10/1/2029</title>
        <cusip>13080SPC2</cusip>
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          <isin value="US13080SPC25"/>
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        <balance>675000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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          <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% 6/1/28</title>
        <cusip>13048T2H5</cusip>
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          <isin value="US13048T2H53"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 4% 2/1/2051</title>
        <cusip>13048VZJ0</cusip>
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          <isin value="US13048VZJ06"/>
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        <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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      <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>
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          <isin value="US13032UMM70"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LONG BEACH CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LONGBEACH CA SD 3% 8/1/2047</title>
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          <isin value="US542433WB90"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-01</maturityDt>
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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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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-09-02</maturityDt>
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        <securityLending>
          <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>
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          <isin value="US738850RA62"/>
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        <curCd>USD</curCd>
        <valUSD>5692941.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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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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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>GUAM INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>GUAM INTL ARPT 6.375% 10/1/2043 @</title>
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        <identifiers>
          <isin value="US40064RER66"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>230420.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.06375000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PANAMA-BUENA VISTA UN SCH DIST CALIF</name>
        <lei>N/A</lei>
        <title>PANAMA-BUENA VI 2.625% 8/1/2037</title>
        <cusip>698118JU1</cusip>
        <identifiers>
          <isin value="US698118JU13"/>
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        <balance>1510000.00000000</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>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02625000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </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>
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        <curCd>USD</curCd>
        <valUSD>1088016.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-01</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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        <title>SAN FRAN ARPT 5% 5/1/49@</title>
        <cusip>79766DMB2</cusip>
        <identifiers>
          <isin value="US79766DMB28"/>
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        <balance>12645000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12908247.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-01</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% 10/1/2038</title>
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        <identifiers>
          <isin value="US13048VDW54"/>
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        <balance>345000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>351089.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</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% 9/2/2036</title>
        <cusip>46360RG92</cusip>
        <identifiers>
          <isin value="US46360RG922"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>252567.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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>
        <lei>N/A</lei>
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        <cusip>79766DKG3</cusip>
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          <isin value="US79766DKG33"/>
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        <balance>3205000.00000000</balance>
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        <valUSD>3252886.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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 CA UNI 5% 9/1/33</title>
        <cusip>73885QGD5</cusip>
        <identifiers>
          <isin value="US73885QGD51"/>
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        <balance>2740000.00000000</balance>
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        <valUSD>2795089.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <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>
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        <valUSD>1115254.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <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% 6/1/2035</title>
        <cusip>13049UCV9</cusip>
        <identifiers>
          <isin value="US13049UCV98"/>
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        <balance>5110000.00000000</balance>
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        <valUSD>5428138.89000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MURRIETA VY CA UNI SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>626905LC5</cusip>
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          <isin value="US626905LC50"/>
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        <balance>330000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-01</maturityDt>
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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% 7/1/2024@</title>
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          <isin value="US79739GFY70"/>
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      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2037@</title>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 2% 10/1/2036</title>
        <cusip>13032UGP7</cusip>
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        <fairValLevel>2</fairValLevel>
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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 SER D 5% 5/15/28@</title>
        <cusip>5444357E4</cusip>
        <identifiers>
          <isin value="US5444357E48"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTH BAYSIDE WASTE MGMT AUTH CALIF SOLID WASTE ENTERPRISE</name>
        <lei>N/A</lei>
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        <cusip>83646ACN1</cusip>
        <identifiers>
          <isin value="US83646ACN19"/>
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      <invstOrSec>
        <name>MIDDLE FORK PROJECT FINANCE AUTHORITY</name>
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          <isin value="US59572CAH07"/>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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      <invstOrSec>
        <name>CITY OF OAKLAND CA</name>
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      <invstOrSec>
        <name>GROSSMONT-CUYAMACA CCD</name>
        <lei>N/A</lei>
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          <isin value="US399267JG98"/>
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      <invstOrSec>
        <name>DESERT CALIF CMTY COLLEGE DIST</name>
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      <invstOrSec>
        <name>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
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          <isin value="US915346FW58"/>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <identifiers>
          <isin value="US544445Q367"/>
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      <invstOrSec>
        <name>TULARE CA SWR REV</name>
        <lei>N/A</lei>
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          <isin value="US899124KB68"/>
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      <invstOrSec>
        <name>PALM SPRINGS CA UNI SCH DIST</name>
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          <isin value="US6966675C46"/>
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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 PCF SOLID WST DISP</name>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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      </invstOrSec>
      <invstOrSec>
        <name>PERRIS CALIF UN HIGH SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US714398LC66"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
        <lei>N/A</lei>
        <title>CA PUB WKS 5% 8/1/2036 Q</title>
        <cusip>13068XCH0</cusip>
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          <isin value="US13068XCH08"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>13048T4F7</cusip>
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          <isin value="US13048T4F79"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
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        <title>CA CNTY TOBAC 5% 6/1/2027</title>
        <cusip>13016NEK6</cusip>
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          <isin value="US13016NEK63"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE and ECONOMIC DEV BK LEASE REV</name>
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        <cusip>13034RAT0</cusip>
        <identifiers>
          <isin value="US13034RAT05"/>
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        <balance>7610000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8088500.06000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FONTANA CA USD GO</name>
        <lei>N/A</lei>
        <title>FONTANA CA USD 2.375% 8/1/2044</title>
        <cusip>344640WD5</cusip>
        <identifiers>
          <isin value="US344640WD56"/>
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        <balance>5500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3718722.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02375000</annualizedRt>
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        <securityLending>
          <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% 5/15/2044@</title>
        <cusip>544445NU9</cusip>
        <identifiers>
          <isin value="US544445NU90"/>
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        <balance>13685000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14070985.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-15</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 CA USD ST 5% 9/25</title>
        <cusip>21976TGD8</cusip>
        <identifiers>
          <isin value="US21976TGD81"/>
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        <balance>645000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>645000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <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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      <invstOrSec>
        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>ONTARIO CALIF I 4% 5/15/2037 @</title>
        <cusip>683042AY1</cusip>
        <identifiers>
          <isin value="US683042AY11"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1658466.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 11/1/2025@</title>
        <cusip>735000RM5</cusip>
        <identifiers>
          <isin value="US735000RM55"/>
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        <balance>5135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5240337.34000000</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>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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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>544587B23</cusip>
        <identifiers>
          <isin value="US544587B236"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>506554.20000000</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>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>FULLERTON PUBLI 4% 2/1/2032</title>
        <cusip>359816CX1</cusip>
        <identifiers>
          <isin value="US359816CX11"/>
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        <balance>520000.00000000</balance>
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        <valUSD>537189.07000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO ARPT 5% 7/1/2025@</title>
        <cusip>79739GFZ4</cusip>
        <identifiers>
          <isin value="US79739GFZ46"/>
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        <balance>515000.00000000</balance>
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        <valUSD>524923.38000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
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        <name>POWAY CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
        <title>POWAY CALIF UNI SCH DIST CAP APPREC-SCH FACS IMPT</title>
        <cusip>738850QY5</cusip>
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          <isin value="US738850QY57"/>
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        <valUSD>3453435.31000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
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          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST 2.50% 12/1/2049</title>
        <cusip>13063DA65</cusip>
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          <isin value="US13063DA650"/>
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        <balance>1350000.00000000</balance>
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        <valUSD>880335.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST MBIA-IBC</title>
        <cusip>13062N4C8</cusip>
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          <isin value="US13062N4C84"/>
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        <balance>10000.00000000</balance>
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        <valUSD>10017.36000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 4% 3/1/2034 @</title>
        <cusip>798136XE2</cusip>
        <identifiers>
          <isin value="US798136XE29"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1991355.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
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          <isin value="US91412HNT67"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>VERNON CALIF ELEC SYS REV</name>
        <lei>N/A</lei>
        <title>VERNON CA ELEC 5% 8/1/2038</title>
        <cusip>924397FE7</cusip>
        <identifiers>
          <isin value="US924397FE76"/>
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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>SAN DIEGO CA PUB FACS FING AUT</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA PU 5% 10/15/30</title>
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          <isin value="US797299LN27"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>STOCKTON CA USD 5% 07/01/2026</title>
        <cusip>861419SS9</cusip>
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          <isin value="US861419SS99"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>ORANGE CNTY CALIF SANTN WASTEWATER REV</name>
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        <title>ORANGE CNTY CA 5% 2/1/2035</title>
        <cusip>68428TCS4</cusip>
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          <isin value="US68428TCS42"/>
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        <balance>5490000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT 5% 5/15/41@</title>
        <cusip>5444357P9</cusip>
        <identifiers>
          <isin value="US5444357P94"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FRESNO CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>FRESNO CA ARPT 4.125% 7/1/2043 @</title>
        <cusip>358100FP5</cusip>
        <identifiers>
          <isin value="US358100FP56"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04125000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 10/1/2037</title>
        <cusip>13048TX24</cusip>
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          <isin value="US13048TX246"/>
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        <balance>500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
        <lei>N/A</lei>
        <title>CA CNTY TOBAC 5% 6/1/2032</title>
        <cusip>13016NEQ3</cusip>
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          <isin value="US13016NEQ34"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</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% 7/1/2030</title>
        <cusip>13048T4X8</cusip>
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          <isin value="US13048T4X85"/>
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        <balance>750000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CALIFORNIA INFRASTRUCTURE and ECONNOMIC DEV BK REV</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA INFR 1.2% MT</title>
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          <isin value="US13034AN304"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
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          <isin value="US13080SRG11"/>
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        <fairValLevel>3</fairValLevel>
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        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/36@</title>
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          <isin value="US798136VQ76"/>
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        <name>POMONA CALIF WTSW REV</name>
        <lei>N/A</lei>
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          <isin value="US73209GAE08"/>
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        <name>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
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        <title>PITTSBURG CA 5% 9/1/26</title>
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          <isin value="US86459LBN73"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
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        <cusip>13080SYY4</cusip>
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          <isin value="US13080SYY44"/>
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        <name>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
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          <isin value="US86459LBQ05"/>
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      <invstOrSec>
        <name>OAKLAND CA UNI SCH D ALAM CNTY</name>
        <lei>N/A</lei>
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        <cusip>672325YL5</cusip>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <cusip>79766DGF0</cusip>
        <identifiers>
          <isin value="US79766DGF06"/>
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        <curCd>USD</curCd>
        <valUSD>23133038.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
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        <cusip>91412G2H7</cusip>
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          <isin value="US91412G2H79"/>
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        <valUSD>708107.92000000</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>
      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 10/1/2036</title>
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          <isin value="US13048VDU98"/>
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        <curCd>USD</curCd>
        <valUSD>256742.25000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REV</name>
        <lei>N/A</lei>
        <title>PR SALES TAX 4.536% 7/1/2053</title>
        <cusip>74529JRK3</cusip>
        <identifiers>
          <isin value="US74529JRK33"/>
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        <balance>1864000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1682350.59000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04536000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN BERNADINO CTY UN SCH DIST</name>
        <lei>N/A</lei>
        <title>SAN BERN CA USD 3% 8/1/2044</title>
        <cusip>796711E54</cusip>
        <identifiers>
          <isin value="US796711E546"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3817169.50000000</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>0.03000000</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>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"/>
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        <balance>1760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1851705.50000000</valUSD>
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        <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>
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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>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"/>
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        <balance>2310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2383957.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</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 SR LIVING REV</name>
        <lei>N/A</lei>
        <title>CALIF CA 5% 11/15/2049</title>
        <cusip>13049RBG0</cusip>
        <identifiers>
          <isin value="US13049RBG02"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2213704.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-15</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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          <isLoanByFund>N</isLoanByFund>
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      <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"/>
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        <balance>1300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1367254.72000000</valUSD>
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        <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>
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          <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% 5/1/2025</title>
        <cusip>544587A65</cusip>
        <identifiers>
          <isin value="US544587A659"/>
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        <balance>225000.00000000</balance>
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        <valUSD>227949.39000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</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% 5/15/2033@</title>
        <cusip>542424UX2</cusip>
        <identifiers>
          <isin value="US542424UX22"/>
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        <valUSD>1419498.54000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-15</maturityDt>
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      <invstOrSec>
        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <cusip>79766DUF4</cusip>
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          <isin value="US79766DUF40"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>POWAY CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
        <title>POWAY CA USD 0% 08/01/46</title>
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          <isin value="US738850RH16"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>FULLERTON PUBLI 4% 2/1/2033</title>
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          <isin value="US359816CY93"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2033</title>
        <cusip>13048T4G5</cusip>
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          <isin value="US13048T4G52"/>
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      <invstOrSec>
        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <cusip>79766DMD8</cusip>
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          <isin value="US79766DMD83"/>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST 4% 11/1/2039</title>
        <cusip>13063DXD5</cusip>
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          <isin value="US13063DXD55"/>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
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        <name>STOCKTON CALIF PUB FING AUTH WTR REV</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>MURRIETA VY CA UNI SCH DIST</name>
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        <name>CALIFORNIA INFRASTRUCTURE and ECONNOMIC DEV BK REV</name>
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      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
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      <invstOrSec>
        <name>PALM SPRINGS CA UNI SCH DIST</name>
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        <name>FOSTER CITY CALIF</name>
        <lei>N/A</lei>
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        <name>OAKLAND CA UNI SCH D ALAM CNTY</name>
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        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
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        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>CALIFORNIA ST</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <title>SAN DIEGO ARPT 5% 7/1/2029@</title>
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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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        <cusip>79766DGE3</cusip>
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          <isin value="US79766DGE31"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2049 @</title>
        <cusip>544445MC0</cusip>
        <identifiers>
          <isin value="US544445MC02"/>
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        <balance>5625000.00000000</balance>
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      <invstOrSec>
        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH SR LIVING HEALTH FAC REV</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <cusip>13081KAW0</cusip>
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          <isin value="US13081KAW09"/>
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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% 5/15/2029@</title>
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        <identifiers>
          <isin value="US542424UT10"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2026 @</title>
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          <isin value="US798136WW36"/>
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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 (BIOLA UNIV) 5% 10/1/27</title>
        <cusip>13048TV83</cusip>
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          <isin value="US13048TV836"/>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SANTA BARBARA CALIF FING AUTHREV</name>
        <lei>N/A</lei>
        <title>SANTA CA 5% 4/1/2034Q</title>
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        <identifiers>
          <isin value="US801262BF22"/>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SOUTHERN CA PUB PWR AUTH PROJ</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US842475P332"/>
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        <balance>10000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Variable</couponKind>
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      <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>
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          <isin value="US000416L473"/>
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        <balance>2810000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>MURRIETA VY CA UNI SCH DIST</name>
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        <cusip>626905LF8</cusip>
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          <isin value="US626905LF81"/>
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        <balance>455000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>POMONA CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>POMONA CA UNI 3% 8/1/2048</title>
        <cusip>732098RB6</cusip>
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          <isin value="US732098RB66"/>
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        <balance>4000000.00000000</balance>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <title>SAN DIEGO ARPT 5% 7/1/2037@</title>
        <cusip>79739GGM2</cusip>
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          <isin value="US79739GGM24"/>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
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        <title>SANTA-MONICA CA 5% 7/1/2035</title>
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          <isin value="US802498RB30"/>
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        <name>CALIFORNIA CA TOB SECURITAZTN</name>
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        <title>CA CNTY TOBAC 5% 6/1/2028</title>
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          <isin value="US13016NEL47"/>
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        <name>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
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          <isin value="US915346FU92"/>
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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>
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          <isin value="US798755DF89"/>
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        <balance>1900000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
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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>
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          <isin value="US542424UQ70"/>
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        <curCd>USD</curCd>
        <valUSD>1147911.61000000</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>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FRESNO CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>FRESNO CA ARPT 5% 7/1/2039 @</title>
        <cusip>358100FK6</cusip>
        <identifiers>
          <isin value="US358100FK69"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2655336.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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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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        <curCd>USD</curCd>
        <valUSD>5227688.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <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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      <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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        <curCd>USD</curCd>
        <valUSD>1120763.49000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</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% 11/1/36</title>
        <cusip>13048TF99</cusip>
        <identifiers>
          <isin value="US13048TF995"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1001668.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
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        <title>PITTSBURG CA 5% 9/1/27</title>
        <cusip>86459LBP2</cusip>
        <identifiers>
          <isin value="US86459LBP22"/>
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        <balance>4380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4575797.39000000</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>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <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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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1558506.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <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% 9/2/2040</title>
        <cusip>46360RH59</cusip>
        <identifiers>
          <isin value="US46360RH599"/>
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        <balance>1025000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1000564.82000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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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>1508683.50000000</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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        <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% 5/1/2025 AMT</title>
        <cusip>79766DKT5</cusip>
        <identifiers>
          <isin value="US79766DKT53"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2298152.48000000</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>2025-05-01</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 DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2024 AMT</title>
        <cusip>5444353Y4</cusip>
        <identifiers>
          <isin value="US5444353Y48"/>
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        <balance>795000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>801654.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <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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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-02</maturityDt>
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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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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROSEVILLE CA CITY SCH DIST</name>
        <lei>N/A</lei>
        <title>ROSEVILLE CA SCHOOL DISTRICT FGIC</title>
        <cusip>777798GU7</cusip>
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          <isin value="US777798GU72"/>
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        <balance>1745000.00000000</balance>
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        <valUSD>1620575.39000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
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          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH SOLID WASTE DISP REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA SW 2.4% MT @</title>
        <cusip>13048RAG2</cusip>
        <identifiers>
          <isin value="US13048RAG20"/>
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        <balance>1140000.00000000</balance>
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        <valUSD>1020767.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.02400000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA HSG FIN AGY MUN CTFS</name>
        <lei>N/A</lei>
        <title>CALIFORNIA HG 3.50% 11/20/2035</title>
        <cusip>13033DAE5</cusip>
        <identifiers>
          <isin value="US13033DAE58"/>
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        <balance>5982409.52000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5499953.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-20</maturityDt>
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          <annualizedRt>0.03500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN MATEO CNTY CALIF JT PWRS FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>SAN MATEO CN 3% 6/15/2046</title>
        <cusip>79904NHP8</cusip>
        <identifiers>
          <isin value="US79904NHP87"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5726473.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-15</maturityDt>
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          <annualizedRt>0.03000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <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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        <curCd>USD</curCd>
        <valUSD>953961.80000000</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>2051-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 2018 5% 07/01/32</title>
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          <isin value="US13080STA23"/>
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        <curCd>USD</curCd>
        <valUSD>865254.81000000</valUSD>
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        <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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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH LEASEREV</name>
        <lei>N/A</lei>
        <title>CALIF CA 13049U 5% 6/1/2037</title>
        <cusip>13049UCX5</cusip>
        <identifiers>
          <isin value="US13049UCX54"/>
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        <balance>3000000.00000000</balance>
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        <valUSD>3156004.80000000</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>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>TRANSMISSION AGENCY OF NORTHERN CALIFORNIA</name>
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        <title>NO CA TRANSMISN 5% 5/1/38</title>
        <cusip>664848BY3</cusip>
        <identifiers>
          <isin value="US664848BY32"/>
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        <balance>2265000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2356815.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-01</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>VERNON CALIF ELEC SYS REV</name>
        <lei>N/A</lei>
        <title>VERNON CA ELEC 5% 8/1/2036</title>
        <cusip>924397FC1</cusip>
        <identifiers>
          <isin value="US924397FC11"/>
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        <balance>1490000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1579244.44000000</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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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DAVIS CALIF JT UNI SCH DIST YOLO CNTY</name>
        <lei>N/A</lei>
        <title>DAVIS CALIF JT 3% 8/1/2041</title>
        <cusip>238848ED3</cusip>
        <identifiers>
          <isin value="US238848ED37"/>
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        <balance>4695000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3813061.62000000</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>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</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 5.25% 6/1/2053</title>
        <cusip>13048VF37</cusip>
        <identifiers>
          <isin value="US13048VF371"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7914810.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05250000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WALNUT VLY CA USD BAN</name>
        <lei>N/A</lei>
        <title>WALNUT VALLEY CA USD CAP APPREC BD-SER D FGIC</title>
        <cusip>932889PQ5</cusip>
        <identifiers>
          <isin value="US932889PQ52"/>
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        <balance>2900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2193002.04000000</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>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
        <lei>N/A</lei>
        <title>SAN PABLO CA RV 5% 6/15/2029</title>
        <cusip>799147AQ6</cusip>
        <identifiers>
          <isin value="US799147AQ68"/>
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        <balance>1780000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1807984.27000000</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>2029-06-15</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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          <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 5% 5/15/2030 AMT</title>
        <cusip>5444354E7</cusip>
        <identifiers>
          <isin value="US5444354E74"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1428802.20000000</valUSD>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CALIFORNIA PUB FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA PUB 4% 10/15/2026</title>
        <cusip>13057EDT8</cusip>
        <identifiers>
          <isin value="US13057EDT82"/>
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        <balance>415000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>413917.72000000</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>2026-10-15</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>MODESTO CALIF CTFS PARTN</name>
        <lei>N/A</lei>
        <title>MODESTO CA CTFS PARTN GOLF COURSE REFING PROJ SER B FGIC</title>
        <cusip>607715FF1</cusip>
        <identifiers>
          <isin value="US607715FF14"/>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>209614.67000000</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>2023-11-01</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>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2035</title>
        <cusip>13048T4J9</cusip>
        <identifiers>
          <isin value="US13048T4J91"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1544964.15000000</valUSD>
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        <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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          <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% 07/01/38</title>
        <cusip>13080STG9</cusip>
        <identifiers>
          <isin value="US13080STG92"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>525910.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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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% 7/1/2034@</title>
        <cusip>79739GGJ9</cusip>
        <identifiers>
          <isin value="US79739GGJ94"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1039892.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 3% 4/1/2046</title>
        <cusip>13080SC69</cusip>
        <identifiers>
          <isin value="US13080SC690"/>
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        <balance>9810000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7010907.80000000</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>2046-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</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>SANGER CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>SANGER CA SCH 3% 8/1/2048</title>
        <cusip>800851TW7</cusip>
        <identifiers>
          <isin value="US800851TW79"/>
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        <balance>2785000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2035074.97000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</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>CALIFORNIA MUN FIN AUTH LEASEREV</name>
        <lei>N/A</lei>
        <title>CALIF CA 13049U 5% 6/1/2033</title>
        <cusip>13049UCT4</cusip>
        <identifiers>
          <isin value="US13049UCT43"/>
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        <balance>2320000.00000000</balance>
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      <invstOrSec>
        <name>MOUNT SAN ANTONIO CA CMNTY COL LEGE DIST</name>
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          <isin value="US623040NJ70"/>
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      <invstOrSec>
        <name>SAN MATEO CNTY CALIF JT PWRS FING AUTH LEASE REV</name>
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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% 7/1/2049@</title>
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        <identifiers>
          <isin value="US79739GMD50"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>13048TX32</cusip>
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          <isin value="US13048TX329"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>PUERTO RICO COMWLTH</name>
        <lei>N/A</lei>
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        <cusip>74514L3J4</cusip>
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          <isin value="US74514L3J47"/>
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        <balance>4240000.00000000</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>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05750000</annualizedRt>
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      <invstOrSec>
        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
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        <title>SAN DIEGO CALI 5% 7/1/2038</title>
        <cusip>797257AW2</cusip>
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          <isin value="US797257AW29"/>
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        <curCd>USD</curCd>
        <valUSD>2093071.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
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        <cusip>797257AP7</cusip>
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          <isin value="US797257AP77"/>
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        <valUSD>2141852.20000000</valUSD>
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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>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CARLSBAD CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>CARLSBAD CA USD 4% 5/1/2034</title>
        <cusip>142665EY0</cusip>
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          <isin value="US142665EY02"/>
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        <curCd>USD</curCd>
        <valUSD>1405856.10000000</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>2034-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2036@</title>
        <cusip>542424VA1</cusip>
        <identifiers>
          <isin value="US542424VA10"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3127669.50000000</valUSD>
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        <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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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO ARPT 5% 7/1/2042</title>
        <cusip>79739GFQ4</cusip>
        <identifiers>
          <isin value="US79739GFQ47"/>
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        <balance>5810000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <title>MONTEBELLO HOME2 SUITES HILTON</title>
        <cusip>612286DM3</cusip>
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          <isin value="US612286DM32"/>
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        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
        <lei>N/A</lei>
        <title>POWAY CA UNI 5% 9/1/36</title>
        <cusip>73885QGH6</cusip>
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          <isin value="US73885QGH65"/>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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          <isin value="US612286DK75"/>
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        <name>ANAHEIM CA PUB FI AUTH LSE REV</name>
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        <title>ANAHEIM CA PUB FING AUTH LEASEANAHEIM PUB IMP PROJ 1997A FSA</title>
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          <isin value="US03255LAA70"/>
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        <name>MIZUHO FLOATER / RESIDUAL TR VAR STS</name>
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      <invstOrSec>
        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <cusip>79766DTZ2</cusip>
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          <isin value="US79766DTZ23"/>
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      <invstOrSec>
        <name>PALOMAR HEALTH CALIF REV</name>
        <lei>N/A</lei>
        <title>PALOMAR HEALT 5% 11/1/2036</title>
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          <isin value="US697528AR88"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
        <lei>N/A</lei>
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          <isin value="US358233CZ57"/>
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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>
      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2031</title>
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          <isin value="US13048VGC63"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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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% 8/15/33</title>
        <cusip>13048T3Q4</cusip>
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          <isin value="US13048T3Q44"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-15</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% 5/15/29</title>
        <cusip>13048TY72</cusip>
        <identifiers>
          <isin value="US13048TY723"/>
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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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          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>STOCKTON CA USD 5% 7/1/27</title>
        <cusip>861419ST7</cusip>
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          <isin value="US861419ST72"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE and ECONNOMIC DEV BK REV</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA INFR 4% 7/1/2050</title>
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          <isin value="US13034AK821"/>
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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>2050-07-01</maturityDt>
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      <invstOrSec>
        <name>LONG BEACH CA CMNTY COLLEGE</name>
        <lei>N/A</lei>
        <title>LONGBEACH CA CC 0% 6/1/2028</title>
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          <isin value="US542411JG98"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST UNREFUNDED BALANCE</title>
        <cusip>13062T4B7</cusip>
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          <isin value="US13062T4B74"/>
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        <balance>5000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05250000</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% 5/15/48@</title>
        <cusip>544445GY9</cusip>
        <identifiers>
          <isin value="US544445GY95"/>
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        <balance>2000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA HSG FIN AGY MUN CTFS</name>
        <lei>N/A</lei>
        <title>CALIFORNIA HG 3.25% 8/20/2036</title>
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          <isin value="US13033DAJ46"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <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% 5/15/2040</title>
        <cusip>13078RGJ3</cusip>
        <identifiers>
          <isin value="US13078RGJ32"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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          <isin value="US13080SLL69"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>MUROC CALIF JT UNI SCH DIST</name>
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          <isin value="US626625BD84"/>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2032 @</title>
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          <isin value="US798136XC62"/>
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      <invstOrSec>
        <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>
        <lei>N/A</lei>
        <title>SACRAMENTO TRAN 5% 6/1/2035</title>
        <cusip>786073AR7</cusip>
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          <isin value="US786073AR70"/>
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        <invCountry>US</invCountry>
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        <name>SAN BERNADINO CTY UN SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US796711WK11"/>
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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>
        <debtSec>
          <maturityDt>2024-08-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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          <isin value="US799147AL71"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>TURLOCK CA</name>
        <lei>N/A</lei>
        <title>TURLOCK IRR DST 5% 1/1/2041Q</title>
        <cusip>900190LE7</cusip>
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          <isin value="US900190LE77"/>
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        <valUSD>4342665.20000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
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          <isin value="US861419SR17"/>
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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>CARLSBAD CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>CARLSBAD CA USD 4% 5/1/2033</title>
        <cusip>142665EX2</cusip>
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          <isin value="US142665EX29"/>
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        <balance>1375000.00000000</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>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
        <lei>N/A</lei>
        <title>SACRAMENTO USD 4% 8/1/2044</title>
        <cusip>785870B70</cusip>
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          <isin value="US785870B705"/>
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        <balance>2250000.00000000</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>
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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% 9/2/2037</title>
        <cusip>46360RH26</cusip>
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          <isin value="US46360RH268"/>
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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>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <title>CA STWD 2018 5% 07/01/36</title>
        <cusip>13080STE4</cusip>
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          <isin value="US13080STE45"/>
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        <balance>500000.00000000</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>2036-07-01</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>
        <title>IRVINE CA IMPT 5% 9/2/2026</title>
        <cusip>46360RQK6</cusip>
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          <isin value="US46360RQK67"/>
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        <balance>800000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST</name>
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        <balance>5000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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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>
        <identifiers>
          <isin value="US735000TF86"/>
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        <balance>2125000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
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        <title>ELK GROVE CA FI 5% 9/1/2029</title>
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          <isin value="US287254DT00"/>
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        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CA UNI SCH DIST CP</name>
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        <title>LA CA USD COP 5% 10/1/2034</title>
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          <isin value="US544648WG92"/>
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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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        <name>CALIFORNIA PCF SOLID WST DISP</name>
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        <title>CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV WASTE MGMT INC PROJ-SER C ***AMT***</title>
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      <invstOrSec>
        <name>LOCAL PUB SCHS FDG AUTH SCH FACS IMPT DIST NO 2016-1 CALIF</name>
        <lei>N/A</lei>
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        <cusip>53957RCE0</cusip>
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          <isin value="US53957RCE09"/>
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        <name>FRESNO CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>FRESNO CA ARPT 5% 7/1/2035 @</title>
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          <isin value="US358100FF74"/>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 5% 11/15/2036</title>
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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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        <cusip>797257AM4</cusip>
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          <isin value="US797257AM47"/>
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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>ONTARIO CALIF INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>ONTARIO CALIF I 4% 5/15/2039 @</title>
        <cusip>683042BA2</cusip>
        <identifiers>
          <isin value="US683042BA26"/>
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        <balance>555000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>STOCKTON CA USD 5% 8/1/2027</title>
        <cusip>861419TG4</cusip>
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          <isin value="US861419TG43"/>
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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% 10/1/2042</title>
        <cusip>130179QF4</cusip>
        <identifiers>
          <isin value="US130179QF47"/>
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        <balance>4000000.00000000</balance>
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        <valUSD>4150266.80000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
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        <title>BAY AREA WTR CA 5% 10/1/2029</title>
        <cusip>072031BW6</cusip>
        <identifiers>
          <isin value="US072031BW60"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SOUTH BAYSIDE WASTE MGMT AUTH CALIF SOLID WASTE ENTERPRISE</name>
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        <cusip>83646ACJ0</cusip>
        <identifiers>
          <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>
        <title>EL CAMINO HOSP/NATL 0% 8/1/27</title>
        <cusip>282731DZ8</cusip>
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          <isin value="US282731DZ89"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CA DEP WTR and PWR WTRWKS REV</name>
        <lei>N/A</lei>
        <title>LA DWAP CA WTR 5% 7/1/2050</title>
        <cusip>544525ZH4</cusip>
        <identifiers>
          <isin value="US544525ZH47"/>
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        <balance>1255000.00000000</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>2050-07-01</maturityDt>
          <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% 07/01/33</title>
        <cusip>786107SW3</cusip>
        <identifiers>
          <isin value="US786107SW32"/>
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        <balance>1315000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>FRESNO CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>FRESNO CA ARPT 4.25% 7/1/2044 @</title>
        <cusip>358100FQ3</cusip>
        <identifiers>
          <isin value="US358100FQ30"/>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04250000</annualizedRt>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <title>MONTEBELLO HOME2 SUITES HILTON</title>
        <cusip>612286DQ4</cusip>
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          <isin value="US612286DQ46"/>
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        <balance>1895000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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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>
        <cusip>786107PD8</cusip>
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          <isin value="US786107PD87"/>
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        <balance>790000.00000000</balance>
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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>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <title>CA ST MFA REV 5% 5/15/34</title>
        <cusip>13048TZ48</cusip>
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          <isin value="US13048TZ480"/>
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      <invstOrSec>
        <name>MENDOCINO CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>MENDO CA 3% 8/1/2051</title>
        <cusip>586596DE5</cusip>
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          <isin value="US586596DE58"/>
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        <balance>3000000.00000000</balance>
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        <name>SAN DIEGO CA UNI SCH DIST</name>
        <lei>N/A</lei>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <cusip>79766DFV6</cusip>
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          <isin value="US79766DFV64"/>
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        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
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      <invstOrSec>
        <name>MODESTO CALIF IRR DIST FING AUTH ELEC SYS REV</name>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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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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          <isin value="US287254DS27"/>
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        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH SR LIVING HEALTH FAC REV</name>
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        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
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      <invstOrSec>
        <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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        <name>SAN MATEO CA UNIFIED SCH DIST</name>
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        <name>SAN MATEO CA UNIFIED SCH DIST</name>
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        <name>STOCKTON CALIF PUB FING AUTH WTR REV</name>
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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>LOS ANGELES CA DEPT ARPTS REV</name>
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      <invstOrSec>
        <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 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>VACAVILLE UNIFIED SCH DIST CA</name>
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        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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        <name>IRVINE CALIF IMPT BD ACT 1915</name>
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        <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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          <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 USD PFA 5% 9/15/2026</title>
        <cusip>73885QBM0</cusip>
        <identifiers>
          <isin value="US73885QBM06"/>
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        <balance>930000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>930400.92000000</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>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1728027.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</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 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>829918.56000000</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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          <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% 12/15/28</title>
        <cusip>738798AV9</cusip>
        <identifiers>
          <isin value="US738798AV95"/>
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        <balance>2200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2291254.02000000</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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          <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 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>523092.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>269661.13000000</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>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>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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1607061.02000000</valUSD>
        <pctVal>0.086534491261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</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>GILROY CALIF PUB FACS FING AUTH WASTEWATER REV</name>
        <lei>N/A</lei>
        <title>GILROY CALIF PB 3% 8/1/2046</title>
        <cusip>376061AV9</cusip>
        <identifiers>
          <isin value="US376061AV94"/>
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        <balance>1285000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>981761.46000000</valUSD>
        <pctVal>0.052864345176</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>0.03000000</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 LEASEREV</name>
        <lei>N/A</lei>
        <title>CALIF CA 13049U 5% 6/1/2036</title>
        <cusip>13049UCW7</cusip>
        <identifiers>
          <isin value="US13049UCW71"/>
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        <balance>5830000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6162898.83000000</valUSD>
        <pctVal>0.331850071847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</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>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>
        <identifiers>
          <isin value="US38122NGL01"/>
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        <balance>6790000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6061003.19000000</valUSD>
        <pctVal>0.326363355874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</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>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 11/1/2029@</title>
        <cusip>735000RR4</cusip>
        <identifiers>
          <isin value="US735000RR43"/>
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        <balance>4200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4399145.94000000</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>2029-11-01</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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      </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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        <curCd>USD</curCd>
        <valUSD>585000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</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>POMONA CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>POMONA CA UNI 2.50% 8/1/2048</title>
        <cusip>732098NP9</cusip>
        <identifiers>
          <isin value="US732098NP98"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6672048.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VERNON CALIF ELEC SYS REV</name>
        <lei>N/A</lei>
        <title>VERNON CA ELEC 5% 8/1/2039</title>
        <cusip>924397FF4</cusip>
        <identifiers>
          <isin value="US924397FF42"/>
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        <balance>850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>876461.10000000</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OCEANSIDE CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>OCEANSIDE CA SD 0% 8/1/2031</title>
        <cusip>675383WY5</cusip>
        <identifiers>
          <isin value="US675383WY59"/>
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        <balance>4875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3626900.06000000</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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          <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 5% 9/2/2024</title>
        <cusip>46360RQH3</cusip>
        <identifiers>
          <isin value="US46360RQH39"/>
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        <balance>825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>830976.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-02</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>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2049 @</title>
        <cusip>544445JP5</cusip>
        <identifiers>
          <isin value="US544445JP51"/>
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        <balance>4950000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5058619.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>S ORANGE CNTY CA PFA</name>
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        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
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        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REV</name>
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        <name>CALIFORNIA STWD CMNTY DV AU 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>CALIFORNIA PUB FIN AUTH REV</name>
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          <isin value="US13057EDV39"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048VJX73"/>
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        <name>SAN DIEGO CA UNI SCH DIST</name>
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        <name>MIZUHO FLOATER / RESIDUAL TR VAR STS</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <name>SANTA CLARITA CA CMNTY COLL</name>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136XB89"/>
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      <invstOrSec>
        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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          <isin value="US799147AS25"/>
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      <invstOrSec>
        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
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          <isin value="US358233CY82"/>
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      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
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        <cusip>13049YCJ8</cusip>
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          <isin value="US13049YCJ82"/>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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          <isin value="US13080STC88"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HESPERIA CALIF CMNTY REDEV AGYSUCCESSOR AGY TAX ALLOCATION</name>
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          <isin value="US42806KAM53"/>
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        <name>CALIFORNIA EDL FACS AUTH REV</name>
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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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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA ST UNIV REV</name>
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          <isin value="US13077DGF33"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>MIZUHO FLOATER / RESIDUAL TR VAR STS</name>
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          <isin value="US60700HKS75"/>
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        <name>EL DORADO CALIF IRR DIST REV</name>
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          <isin value="US283062CG07"/>
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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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        <title>SAN DIEGO ARPT 5% 7/1/2028 @</title>
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          <isin value="US79739GLQ72"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 2018 5% 07/01/37</title>
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          <isin value="US13080STF10"/>
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        <name>CALIFORNIA MUN FIN AUTH CTFS PARTN</name>
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        <title>CA ST MFA COP 5% 11/1/27</title>
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          <isin value="US130493BZ15"/>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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          <isin value="US79766DFS36"/>
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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% 7/1/2031@</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-01</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="US13048VWM61"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>TOBACCO SECURITIZATION SOUTH CA TOB SETTLEMENT REV</name>
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        <cusip>888804BZ3</cusip>
        <identifiers>
          <isin value="US888804BZ38"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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          <isin value="US861419TD12"/>
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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% 3/1/32@</title>
        <cusip>798136VL8</cusip>
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          <isin value="US798136VL89"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT SER D 5% 5/15/30@</title>
        <cusip>5444357G9</cusip>
        <identifiers>
          <isin value="US5444357G95"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2041146.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2035@</title>
        <cusip>542424UZ7</cusip>
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          <isin value="US542424UZ79"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2611013.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <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>
        <identifiers>
          <isin value="US072024VU34"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2906948.10000000</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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          <couponKind>Variable</couponKind>
          <annualizedRt>0.02625000</annualizedRt>
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        <securityLending>
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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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        <curCd>USD</curCd>
        <valUSD>4821271.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <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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        <balance>3500000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>SAN JACINTO CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>SAN JACINTO 5% 8/1/31</title>
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          <isin value="US797848GU62"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 6/1/2051</title>
        <cusip>13080SWP5</cusip>
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          <isin value="US13080SWP54"/>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2037</title>
        <cusip>798136WQ6</cusip>
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          <isin value="US798136WQ67"/>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <title>WA TWP CA HC 5% 7/1/2036</title>
        <cusip>940204FT2</cusip>
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          <isin value="US940204FT29"/>
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        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
        <title>CA MUN FIN AUT 5% 5/15/2026</title>
        <cusip>13049YAU5</cusip>
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          <isin value="US13049YAU55"/>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2033</title>
        <cusip>798136WL7</cusip>
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          <isin value="US798136WL70"/>
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        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
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      <invstOrSec>
        <name>OAKLAND CA UNI SCH D ALAM CNTY</name>
        <lei>N/A</lei>
        <title>OAKLAND CA USD 3% 8/1/2041</title>
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          <isin value="US672325ZG56"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2041-08-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
        <lei>N/A</lei>
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          <isin value="US544587ZG68"/>
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        <name>PALM SPRINGS CA UNI SCH DIST</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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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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        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
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        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
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        <name>POWAY CA UNIFIED SCH DIST</name>
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        <name>OXNARD CA UN HIGH SCH DIST</name>
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        <title>OXNARD CA SCH 5% 8/1/2045</title>
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        <name>POWAY CA UNIFIED SCH DIST</name>
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        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REV</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <name>PALOMAR HEALTH CALIF REV</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
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        <name>MURRIETA VY CA UNI SCH DIST</name>
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        <name>FOOTHILL/ESTRN TRANSN CA TOLL</name>
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      <invstOrSec>
        <name>S ORANGE CNTY CA PFA</name>
        <lei>N/A</lei>
        <title>S ORANGE CNY CA 5% 4/1/36</title>
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          <isin value="US839097BC59"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PALMDALE CA ELEM SCH DIST</name>
        <lei>N/A</lei>
        <title>PALMDALE CA SD/AGMC 5% 8/1/41</title>
        <cusip>69671TEP0</cusip>
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          <isin value="US69671TEP03"/>
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        <valUSD>1329374.29000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <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% 7/1/33</title>
        <cusip>940204EW6</cusip>
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          <isin value="US940204EW66"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN MARCOS CA REDEVELOPMENT and SUCCESSOR AGENCY</name>
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          <isin value="US79876CAP32"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ESCONDIDO CA UN HIGH SCH DIST</name>
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          <isin value="US296353KZ79"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
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        <title>BAY AREA WTR CA 5% 10/1/2028</title>
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          <isin value="US072031BV87"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RANCHO CUCAMONGA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
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        <cusip>75212CAN9</cusip>
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          <isin value="US75212CAN92"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
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      <invstOrSec>
        <name>EASTERN MUN WTR DIST FING AUTH CA WTR and WASTEWATER REV</name>
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        <cusip>27677SBC6</cusip>
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          <isin value="US27677SBC61"/>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Fidelity Revere Street Trust</name>
        <lei>549300BDV45LJNXBZC55</lei>
        <title>Fidelity Municipal Cash Central Fund</title>
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          <isin value="US31635A2042"/>
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        <name>SAN DIEGO CA PUB FACS FING AUT</name>
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          <isin value="US797299LM44"/>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US5444357F13"/>
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        <name>SAN MATEO CNTY CALIF CMNTY COL DIST</name>
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          <isin value="US799038NJ98"/>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <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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      <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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        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
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        <title>POWAY CA UNI 5% 9/1/30</title>
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          <isin value="US73885QFZ72"/>
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        <name>MT DIABLO CA UNIFIED SCH DIST</name>
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        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
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        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
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        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
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        <name>IRVINE CALIF IMPT BD ACT 1915</name>
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        <name>SANTA MONICA CALIF PUB FING AUTH LEASE REV</name>
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        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
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        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
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        <name>SUCCESSOR AGY PITTSBURG CALIF REDEV AGY</name>
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        <name>NORTH CITY W CA SCH FACS FING</name>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US544445SY67"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080SSZ8</cusip>
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          <isin value="US13080SSZ82"/>
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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 FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 7/1/2034</title>
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          <isin value="US13048VJW90"/>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT SER D 5% 5/15/31@</title>
        <cusip>5444357H7</cusip>
        <identifiers>
          <isin value="US5444357H78"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <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 SER B 2.85% 4/1/47 MT</title>
        <cusip>072024UK6</cusip>
        <identifiers>
          <isin value="US072024UK60"/>
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        <balance>6740000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.02850000</annualizedRt>
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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>
        <identifiers>
          <isin value="US683042AM72"/>
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        <balance>4315000.00000000</balance>
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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>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <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>
        <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>
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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% 11/1/2032</title>
        <cusip>13080SSH8</cusip>
        <identifiers>
          <isin value="US13080SSH84"/>
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        <balance>1135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1154502.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE and ECONOMIC DEV BK LEASE REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA IE 5% 8/1/2049</title>
        <cusip>13034RAU7</cusip>
        <identifiers>
          <isin value="US13034RAU77"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-01</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 4% 1/1/2036</title>
        <cusip>915346FZ8</cusip>
        <identifiers>
          <isin value="US915346FZ89"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>937600.30000000</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>2036-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
        <lei>N/A</lei>
        <title>LA CA MUNI IMPT 5% 5/1/2030</title>
        <cusip>544587B31</cusip>
        <identifiers>
          <isin value="US544587B319"/>
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        <balance>400000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN JUAN CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>SAN JUAN CA USD 2.25% 8/1/2039</title>
        <cusip>798306YB6</cusip>
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          <isin value="US798306YB66"/>
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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>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02250000</annualizedRt>
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      <invstOrSec>
        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
        <lei>N/A</lei>
        <title>SAN PABLO CA RV 5% 6/15/2027</title>
        <cusip>799147AN3</cusip>
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          <isin value="US799147AN38"/>
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          <maturityDt>2027-06-15</maturityDt>
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        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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        <title>SAC CNTY ARPT 5% 7/1/36</title>
        <cusip>786107PE6</cusip>
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          <isin value="US786107PE60"/>
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      <invstOrSec>
        <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>
        <identifiers>
          <isin value="US13049YFP16"/>
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        <balance>2000000.00000000</balance>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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          <isin value="US79766DLF41"/>
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      <invstOrSec>
        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
        <lei>N/A</lei>
        <title>ELK GROVE CA FI 5% 09/01/41</title>
        <cusip>287254EC6</cusip>
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          <isin value="US287254EC65"/>
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        <invCountry>US</invCountry>
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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>773754FJ0</cusip>
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          <isin value="US773754FJ04"/>
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        <balance>6500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US544445S264"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
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          <isin value="US13062TU441"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NOVATO CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>NOVATO CA USD 2% 8/1/2039</title>
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          <isin value="US669878HK91"/>
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        <balance>4645000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US359816DD48"/>
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        <balance>2055000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-02-01</maturityDt>
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      <invstOrSec>
        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <identifiers>
          <isin value="US79739GGC42"/>
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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>
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          <isin value="US142665EV62"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2036</title>
        <cusip>13048VGF9</cusip>
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          <isin value="US13048VGF94"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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        <title>CA PUB WKS 4% 8/1/2037 Q</title>
        <cusip>13068XCJ6</cusip>
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          <isin value="US13068XCJ63"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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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>470427.06000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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          <isin value="US785870RM08"/>
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        <balance>1450000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
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          <isin value="US46360RF288"/>
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        <balance>2545000.00000000</balance>
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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>
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          <isin value="US544445BP34"/>
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      <invstOrSec>
        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
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          <isin value="US952347D822"/>
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        <name>SAN MATEO FOSTER CITY CALIF PUB FING AUTH WASTEWATER REV</name>
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        <title>SAN MATEO FOST 5% 8/1/2049</title>
        <cusip>79905VAX9</cusip>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 4% 4/1/2049</title>
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      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 5/1/2024 @</title>
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          <isin value="US735000UP40"/>
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        <balance>1375000.00000000</balance>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2029</title>
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          <isin value="US13048T4W03"/>
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        <name>RIVERSIDE CA SWR REV</name>
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      <invstOrSec>
        <name>WALNUT VLY CA USD BAN</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
        <title>UPLAND CA COP 4% 1/1/2035</title>
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          <isin value="US915346FY15"/>
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      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
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          <isin value="US46360RG849"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 11/1/2027@</title>
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          <isin value="US735000RP86"/>
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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% 10/1/2046</title>
        <cusip>130179QG2</cusip>
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          <isin value="US130179QG20"/>
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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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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PUERTO RICO COMWLTH</name>
        <lei>N/A</lei>
        <title>PR ST 0% 7/1/2033</title>
        <cusip>74514L3R6</cusip>
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          <isin value="US74514L3R62"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.00000000</annualizedRt>
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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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        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
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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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        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH SR LIVING HEALTH FAC REV</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>SAN BERNARDINO CNTY CA COP</name>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
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          <isin value="US91412HNV14"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048T4D22"/>
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      <invstOrSec>
        <name>LOS ANGELES CNTY CA PUB WKS</name>
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          <isin value="US54473EXL37"/>
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      <invstOrSec>
        <name>FRESNO CALIF ARPT REV</name>
        <lei>N/A</lei>
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          <isin value="US358100FG57"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MIRACOSTA CA CMNTY CLG DIST</name>
        <lei>N/A</lei>
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          <isin value="US604617BX79"/>
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      <invstOrSec>
        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
        <lei>N/A</lei>
        <title>SACRAMENTO TRAN 5% 6/1/2034</title>
        <cusip>786073AQ9</cusip>
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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>
        <identifiers>
          <isin value="US130179QC16"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <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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        <title>SANTA MONICA PF 5% 7/1/2037</title>
        <cusip>802437FU2</cusip>
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          <isin value="US802437FU27"/>
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        <balance>1780000.00000000</balance>
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        <valUSD>1888144.43000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</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>798136WZ6</cusip>
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          <isin value="US798136WZ66"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
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          <isin value="US358233CQ58"/>
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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>
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          <isin value="US130179MV33"/>
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        <name>CALIFORNIA EDL FACS AUTH REV</name>
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        <title>CA SANTA CLARA 5.25 9/1/26</title>
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          <isin value="US130175DK56"/>
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      <invstOrSec>
        <name>POMONA CA UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US732098NL84"/>
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        <name>MURRIETA VY CA UNI SCH DIST</name>
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          <isin value="US626905LD34"/>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
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        <title>SANTA-MONICA CA 5% 7/1/2031</title>
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          <isin value="US802498QX68"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FRESNO CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>FRESNO CA ARPT 5% 7/1/2037 @</title>
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          <isin value="US358100FH31"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
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          <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% 9/1/2037</title>
        <cusip>799038NG5</cusip>
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          <isin value="US799038NG59"/>
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        <balance>1000000.00000000</balance>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048VDP04"/>
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      <invstOrSec>
        <name>SAN FRANCISCO CA BART DIST TAX</name>
        <lei>N/A</lei>
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        <cusip>797669ZE1</cusip>
        <identifiers>
          <isin value="US797669ZE16"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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          <isin value="US940204GK01"/>
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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% 3/1/2029 @</title>
        <cusip>798136VH7</cusip>
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          <isin value="US798136VH77"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</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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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-15</maturityDt>
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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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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>OCEANSIDE CALIF UNI SCH DIST</name>
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          <isin value="US675383WQ26"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN JACINTO CA UNI SCH DIST</name>
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          <isin value="US797848GT99"/>
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        <name>SAN FRANCISCO CA BART DIST TAX</name>
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          <isin value="US797669ZF80"/>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
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          <isin value="US802498RA56"/>
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        <name>SAN MATEO CNTY CALIF CMNTY COL DIST</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BAY AREA WTR SUPPLY and CONSV AGY CALIF REV</name>
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          <isin value="US072031BU05"/>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>13048T2K8</cusip>
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          <isin value="US13048T2K82"/>
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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>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CA MUN IMP CRP LSE</name>
        <lei>N/A</lei>
        <title>LA CA MUNI IMPT 5% 5/1/2031</title>
        <cusip>544587B49</cusip>
        <identifiers>
          <isin value="US544587B491"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>405243.36000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>418057.11000000</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>LOS ANGELES CA MUN IMP CRP LSE</name>
        <lei>N/A</lei>
        <title>LA CA MUNI IMPT 5% 11/1/2036</title>
        <cusip>544587K31</cusip>
        <identifiers>
          <isin value="US544587K310"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1576600.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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>5156384.87000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <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% 6/1/2032</title>
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        <identifiers>
          <isin value="US13049UCS69"/>
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        <balance>2750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2936555.05000000</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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CARLSBAD CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>CARLSBAD CA USD 4% 5/1/2032</title>
        <cusip>142665EW4</cusip>
        <identifiers>
          <isin value="US142665EW46"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1182714.86000000</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>2032-05-01</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>MT DIABLO CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
        <title>MTDIABLO CA USD 4% 6/1/2037 Q</title>
        <cusip>621196P32</cusip>
        <identifiers>
          <isin value="US621196P323"/>
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        <balance>1625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1678381.74000000</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>2037-06-01</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>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/41@</title>
        <cusip>544445CB3</cusip>
        <identifiers>
          <isin value="US544445CB39"/>
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        <balance>3750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3804605.25000000</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>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2032</title>
        <cusip>13048VGD4</cusip>
        <identifiers>
          <isin value="US13048VGD47"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3237966.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-01</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>
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        <cusip>13068L6Z3</cusip>
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          <isin value="US13068L6Z37"/>
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        <balance>2440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1779513.47000000</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>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02250000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA HSG FIN AGY MUN CTFS</name>
        <lei>N/A</lei>
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        <cusip>13033DAL9</cusip>
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          <isin value="US13033DAL91"/>
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        <balance>4991912.24500000</balance>
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        <curCd>USD</curCd>
        <valUSD>4850951.63000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-20</maturityDt>
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          <annualizedRt>0.04375000</annualizedRt>
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      <invstOrSec>
        <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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        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT 5% 5/15/34@</title>
        <cusip>544445NN5</cusip>
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          <isin value="US544445NN57"/>
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        <balance>950000.00000000</balance>
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        <valUSD>1016862.43000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-15</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 10/1/2036</title>
        <cusip>13048TW90</cusip>
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          <isin value="US13048TW909"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2036-10-01</maturityDt>
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      <invstOrSec>
        <name>LOS ANGELES CA UNI SCH DIST CP</name>
        <lei>N/A</lei>
        <title>LA CA USD COP 5% 10/1/2038</title>
        <cusip>544648WL8</cusip>
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          <isin value="US544648WL87"/>
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        <balance>4025000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-01</maturityDt>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 4/1/2031</title>
        <cusip>130179TL8</cusip>
        <identifiers>
          <isin value="US130179TL87"/>
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        <balance>460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>514659.73000000</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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      <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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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US5444354C19"/>
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        <name>FRESNO CALIF ARPT REV</name>
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        <name>LOS ANGELES CNTY CA PUB WKS</name>
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        <name>ELK GROVE CA UNI SCH DI SPL TX</name>
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          <isin value="US287290EH90"/>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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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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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <name>RICHMOND CALIF WASTEWATER REV</name>
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        <name>MONROVIA CALIF UNI SCH DIST</name>
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        <name>RANCHO CUCAMONGA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136WH68"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
        <title>IRVINE CA IMPT 5% 9/2/2023</title>
        <cusip>46360RLU9</cusip>
        <identifiers>
          <isin value="US46360RLU94"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1000000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
        <lei>N/A</lei>
        <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>5162817.50000000</valUSD>
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        <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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          <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>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>4091450.50000000</valUSD>
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        <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>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>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>2492490.26000000</valUSD>
        <pctVal>0.134211690744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</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 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>
        <identifiers>
          <isin value="US799147AR42"/>
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        <balance>1150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1168558.59000000</valUSD>
        <pctVal>0.062922702894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</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>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 4% 4/1/2035</title>
        <cusip>13032UWW4</cusip>
        <identifiers>
          <isin value="US13032UWW43"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1996271.00000000</valUSD>
        <pctVal>0.107492057398</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROSEVILLE CA CITY SCH DIST</name>
        <lei>N/A</lei>
        <title>ROSEVILLE CA SCHOOL DISTRICT FGIC</title>
        <cusip>777798GW3</cusip>
        <identifiers>
          <isin value="US777798GW39"/>
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        <balance>1940000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1675051.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH MULTIFAMILY HSG REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA MHSG 2.65% 8/1/2036</title>
        <cusip>130483DZ0</cusip>
        <identifiers>
          <isin value="US130483DZ07"/>
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        <balance>9540679.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7764077.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02650000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/37@</title>
        <cusip>798136VR5</cusip>
        <identifiers>
          <isin value="US798136VR59"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2310938.33000000</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>2037-03-01</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>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC 5% 7/1/2031</title>
        <cusip>940204FN5</cusip>
        <identifiers>
          <isin value="US940204FN58"/>
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        <balance>875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>905517.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
        <lei>N/A</lei>
        <title>FRESNO CALIF UN 5% 8/1/2036</title>
        <cusip>358233CS1</cusip>
        <identifiers>
          <isin value="US358233CS15"/>
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        <balance>235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>259086.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
        <title>CA MUN FIN AUT 5% 5/15/2027</title>
        <cusip>13049YAV3</cusip>
        <identifiers>
          <isin value="US13049YAV39"/>
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        <balance>4635000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4794064.39000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>PUERTO RICO COMWLTH</name>
        <lei>N/A</lei>
        <title>PR ST 5.625% 7/1/2029</title>
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          <isin value="US74514L3H80"/>
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        <balance>1815000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1917487.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05625000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2023-09-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Laura M. Del Prato</ncom:nameOfApplicant>
      <ncom:signature>Laura M. Del Prato</ncom:signature>
      <ncom:signerName>Laura M. Del Prato</ncom:signerName>
      <ncom:title>President and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
