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        <cusip>798755DD3</cusip>
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          <isin value="US798755DD32"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SHASTA CALIF UN HIGH SCH DIST</name>
        <lei>N/A</lei>
        <title>SHASTA CALIF UN HIGH SCH DIST CAP APPREC-ELECTION 2001 INSURER MBIA</title>
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          <isin value="US820174EN67"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-01</maturityDt>
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          <annualizedRt>0.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
        <lei>N/A</lei>
        <title>CA PUB WKS 4% 4/1/2033</title>
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          <isin value="US13068LZU24"/>
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        <valUSD>1676614.44000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LAMMERSVILLE CALIF SCHS FIN AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>LAMMERSVILE CA 3% 10/1/2049</title>
        <cusip>513540AR5</cusip>
        <identifiers>
          <isin value="US513540AR57"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 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>2419636.73000000</valUSD>
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        <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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      <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>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST UNREFUNDED BALANCE</title>
        <cusip>13062T4E1</cusip>
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          <isin value="US13062T4E14"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5011.44000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05250000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST 5.5% 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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        <valUSD>25060.79000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05500000</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>
        <title>SAN FRAN ARPT 5% 1/1/2047@</title>
        <cusip>79766DNT2</cusip>
        <identifiers>
          <isin value="US79766DNT27"/>
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        <balance>6005000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOS ANGELES CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LA CA USD 3% 7/1/2035</title>
        <cusip>544647DF4</cusip>
        <identifiers>
          <isin value="US544647DF48"/>
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        <balance>4040000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3912124.30000000</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>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</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% 6/1/2031</title>
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          <isin value="US13016NEP50"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2031 AMT</title>
        <cusip>544445FB0</cusip>
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          <isin value="US544445FB02"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-05-15</maturityDt>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 4% 7/1/2038</title>
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          <isin value="US802498RE78"/>
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        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
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          <isin value="US13062TU516"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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          <isin value="US13080STD61"/>
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        <name>ABC CALIF UNI SCH DIST</name>
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          <isin value="US000416L549"/>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 4% 5/15/49@</title>
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          <isin value="US544445NV73"/>
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        <balance>5000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2049-05-15</maturityDt>
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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>
        <title>WA TWP CA HC 5% 7/1/2029</title>
        <cusip>940204FL9</cusip>
        <identifiers>
          <isin value="US940204FL92"/>
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        <balance>1120000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>VERNON CALIF ELEC SYS REV</name>
        <lei>N/A</lei>
        <title>VERNON CA ELEC 5% 8/1/2041</title>
        <cusip>924397FH0</cusip>
        <identifiers>
          <isin value="US924397FH08"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>455636.87000000</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>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DEV AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
        <title>CA STWD STUDENT 5% 5/15/2034</title>
        <cusip>13078RGG9</cusip>
        <identifiers>
          <isin value="US13078RGG92"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1280371.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>LINDSAY CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LINDS CA 0% 8/1/2033</title>
        <cusip>535545CD7</cusip>
        <identifiers>
          <isin value="US535545CD75"/>
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        <balance>715000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>532030.14000000</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>0.00000000</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 4% 7/1/2039</title>
        <cusip>802498RF4</cusip>
        <identifiers>
          <isin value="US802498RF44"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>557915.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 12/1/2032</title>
        <cusip>13080SR97</cusip>
        <identifiers>
          <isin value="US13080SR979"/>
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        <balance>2125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2454667.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BURBANK GLENDALE PASADENA ARPT AUTH CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>BURBANK CA ARPT 5% 7/1/2037 @</title>
        <cusip>120827DV9</cusip>
        <identifiers>
          <isin value="US120827DV98"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7712069.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2034</title>
        <cusip>798136WM5</cusip>
        <identifiers>
          <isin value="US798136WM53"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>523429.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EL RANCHO CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>ELRANCHO CA USD 3% 8/1/2046</title>
        <cusip>283839ZL5</cusip>
        <identifiers>
          <isin value="US283839ZL54"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>844369.70000000</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>2046-08-01</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>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC 5% 7/1/2030</title>
        <cusip>940204GJ3</cusip>
        <identifiers>
          <isin value="US940204GJ38"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>324632.01000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 4% 7/1/2036</title>
        <cusip>802498RC1</cusip>
        <identifiers>
          <isin value="US802498RC13"/>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>445431.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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>735000UY5</cusip>
        <identifiers>
          <isin value="US735000UY56"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21507.42000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>LONG BEACH CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LONGBEACH CA SD 5.25% 8/1/2033</title>
        <cusip>542433SL2</cusip>
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          <isin value="US542433SL29"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05250000</annualizedRt>
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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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          <maturityDt>2032-05-15</maturityDt>
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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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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-10-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2034</title>
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          <isin value="US13048T4H36"/>
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        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
        <lei>N/A</lei>
        <title>SAN PABLO CA RV 5% 6/15/2026</title>
        <cusip>799147AM5</cusip>
        <identifiers>
          <isin value="US799147AM54"/>
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        <balance>860000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
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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>
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          <isin value="US940204FP07"/>
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        <valUSD>928372.53000000</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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        <name>CHICO CALIF UNI SCH DIST</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>GLENDALE CA WTR REV</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>SAN DIEGO CA PUB FACS FING AUT</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>ALAMEDA CORRIDOR TRAN A CA RV</name>
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        <name>CA EDL FACS AUTH REV</name>
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        <name>UPLAND CA CTFS PARTN</name>
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      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
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          <isin value="US13016NER17"/>
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      <invstOrSec>
        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136VS33"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13048VDV71"/>
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      <invstOrSec>
        <name>NORWALK LA MIRADA CA UNI SCH</name>
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          <isin value="US669096QN28"/>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
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        <title>SAN JOSE ARPT 5% 3/1/2029</title>
        <cusip>798136WG8</cusip>
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          <isin value="US798136WG85"/>
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      <invstOrSec>
        <name>WALNUT VLY CA USD BAN</name>
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        <title>WALNUT VALLEY CA UNI SCH DIST CAP APPREC BD-SER D FGIC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136WK97"/>
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      <invstOrSec>
        <name>CALIFORNIA PUB FIN AUTH REV</name>
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          <isin value="US13057EDU55"/>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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          <isin value="US79739GGE08"/>
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        <name>SAN DIEGO CA UNI SCH DIST</name>
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        <name>SAN JACINTO CA UNI SCH DIST</name>
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        <name>MENDOCINO-LAKE CMNTY COLLEGE DIST CALIF</name>
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          <isin value="US58661PDN96"/>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
        <lei>N/A</lei>
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          <isin value="US79739GGP54"/>
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        <name>ALAMEDA CORRIDOR TRAN A CA RV</name>
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          <isin value="US010869MM41"/>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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          <maturityDt>2033-07-01</maturityDt>
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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>
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          <isin value="US940204EV83"/>
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        <fairValLevel>2</fairValLevel>
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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% 5/15/2035</title>
        <cusip>13049YCC3</cusip>
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          <isin value="US13049YCC30"/>
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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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          <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% 7/1/2037</title>
        <cusip>802498RD9</cusip>
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          <isin value="US802498RD95"/>
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        <balance>475000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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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>
        <identifiers>
          <isin value="US542411JK01"/>
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        <balance>8285000.00000000</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>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>SAN DIEGO CA PUB FACS FING AUT</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA PU 5% 10/15/2034</title>
        <cusip>797299QJ6</cusip>
        <identifiers>
          <isin value="US797299QJ69"/>
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        <balance>615000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>735092.96000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HUNTINGTON BEACH CALIF UN HIGH SCH DIST CTFS PARTN</name>
        <lei>N/A</lei>
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        <cusip>446231DU3</cusip>
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          <isin value="US446231DU31"/>
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        <balance>1260000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02125000</annualizedRt>
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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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        <balance>1155000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-15</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 5% 7/1/2041 @</title>
        <cusip>358100FM2</cusip>
        <identifiers>
          <isin value="US358100FM26"/>
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        <balance>2760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2995188.43000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST UNIV REV</name>
        <lei>N/A</lei>
        <title>CA ST UNIV REV 3% 11/1/2052</title>
        <cusip>13077DRU8</cusip>
        <identifiers>
          <isin value="US13077DRU80"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3657716.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
        <lei>N/A</lei>
        <title>MONTEBELLO HOME2 SUITES HILTON</title>
        <cusip>612286DL5</cusip>
        <identifiers>
          <isin value="US612286DL58"/>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <cusip>612286DR2</cusip>
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          <isin value="US612286DR29"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 11/1/2026 @</title>
        <cusip>735000US8</cusip>
        <identifiers>
          <isin value="US735000US88"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SACRAMENTO CALIF MUD ELEC REV</name>
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        <title>SAC MUD CA ELEC SRD 5% 8/15/28</title>
        <cusip>786005WU8</cusip>
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          <isin value="US786005WU80"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC 5% 7/1/2030</title>
        <cusip>940204ET3</cusip>
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          <isin value="US940204ET38"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2040</title>
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          <isin value="US13048VGH50"/>
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      <invstOrSec>
        <name>LOS ANGELES CA UNI SCH DIST</name>
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        <title>LA CA USD 3% 7/1/2038</title>
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          <isin value="US544647DK33"/>
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        <name>TEMECULA VY CA UNI SCH DIST</name>
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        <title>TEMECULA VY SCH 3% 8/1/2044</title>
        <cusip>87970GQY6</cusip>
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          <isin value="US87970GQY60"/>
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      <invstOrSec>
        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
        <lei>N/A</lei>
        <title>SACRAMENTO TRAN 5% 6/1/2037</title>
        <cusip>786073AT3</cusip>
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          <isin value="US786073AT37"/>
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      <invstOrSec>
        <name>CALIFORNIA HSG FIN AGY MUN CTFS</name>
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      <invstOrSec>
        <name>POWAY CA UNIFIED SCH DIST</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
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          <isin value="US683042AZ85"/>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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      <invstOrSec>
        <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>PASADENA CALIF PUB FING AUTH LEASE REV</name>
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        <title>PASADENA CALIF 0% 6/1/2042</title>
        <cusip>702274DM0</cusip>
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          <isin value="US702274DM01"/>
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        <name>YOSEMITE CCD CALIFORNIA</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
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        <name>CALIFORNIA CA TOB SECURITAZTN</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <title>CALIFORNIA HLTH 5% MT</title>
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      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>EASTERN MUN WTR DIST FING AUTH CA WTR and WASTEWATER REV</name>
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      <invstOrSec>
        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
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        <title>POWAY CA UNI 5% 9/1/32</title>
        <cusip>73885QGC7</cusip>
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          <isin value="US73885QGC78"/>
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      <invstOrSec>
        <name>LONG BEACH CA UNI SCH DIST</name>
        <lei>N/A</lei>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT 5% 5/15/2043 @</title>
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          <isin value="US544445GX13"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136VK07"/>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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          <isin value="US940204GX22"/>
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      <invstOrSec>
        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
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        <title>SACRAMENTO TRAN 5% 6/1/2036</title>
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          <isin value="US786073AS53"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BRISBANE CALIF SCH DIST</name>
        <lei>N/A</lei>
        <title>BRISBANE CA SCD 3% 8/1/2042</title>
        <cusip>10973RDB5</cusip>
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          <isin value="US10973RDB50"/>
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        <balance>1005000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
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      <invstOrSec>
        <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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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
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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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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <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% 7/1/2029</title>
        <cusip>13048T4B6</cusip>
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          <isin value="US13048T4B65"/>
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          <maturityDt>2029-07-01</maturityDt>
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        <name>LONG BEACH CA CMNTY COLLEGE</name>
        <lei>N/A</lei>
        <title>LONGBEACH CA CC 3% 8/1/2036</title>
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          <isin value="US542411MX84"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13048V2J65"/>
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        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
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        <title>SAN DIEGO CALI 5% 7/1/2034</title>
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          <isin value="US797257AS17"/>
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        <name>CALIFORNIA STWD CMNTY DEV AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
        <title>CA STWD STUDENT 5% 5/15/2047</title>
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          <isin value="US13078RHF01"/>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13048T3L56"/>
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        <name>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
        <title>UPLAND CA COP 5% 1/1/2032</title>
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          <isin value="US915346FV75"/>
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        <balance>1400000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
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          <isin value="US358233CR32"/>
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      <invstOrSec>
        <name>LOS RIOS CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
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          <isin value="US545624RB65"/>
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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="US13080SWM24"/>
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      <invstOrSec>
        <name>MOUNTAIN VIEW CALIF SCH DIST SCH FACS IMPT DIST NO 2 SAN BERNARDINO CNTY</name>
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        <cusip>62440CBP5</cusip>
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          <isin value="US62440CBP59"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048TV752"/>
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        <name>SANTA BARBARA CALIF FING AUTHREV</name>
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          <isin value="US801262BH87"/>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 4% 4/1/2046</title>
        <cusip>13080SC77</cusip>
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          <isin value="US13080SC773"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SANTA CLARA CNTY CA FING LEASE</name>
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          <isin value="US801577QU42"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
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        <title>BATA CA 2% MT</title>
        <cusip>072024WY4</cusip>
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          <isin value="US072024WY47"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.02000000</annualizedRt>
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      <invstOrSec>
        <name>RIVERSIDE CNTY CALIF TRANSN COMMN TOLL REV</name>
        <lei>5493003G0IESJS57M350</lei>
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        <cusip>76912DAZ1</cusip>
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          <isin value="US76912DAZ15"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
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        <cusip>13080SWN0</cusip>
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          <isin value="US13080SWN07"/>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048T2Q52"/>
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        <name>CALIFORNIA MUN FIN AUTH MULTIFAMILY HSG REV</name>
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        <cusip>130483GH7</cusip>
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          <isin value="US130483GH71"/>
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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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          <isin value="US73885QGF00"/>
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        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US130179TJ32"/>
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        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>ONTARIO CALIF I 4% 5/15/2036 @</title>
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          <isin value="US683042AX38"/>
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      <invstOrSec>
        <name>MIDDLE FORK PROJECT FINANCE AUTHORITY</name>
        <lei>N/A</lei>
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        <cusip>59572CAJ6</cusip>
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          <isin value="US59572CAJ62"/>
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        <balance>3350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3498070.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>WEST CONTRA USD 0% FGIC 8/1/2033</title>
        <cusip>952347TC6</cusip>
        <identifiers>
          <isin value="US952347TC66"/>
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        <balance>1675000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1255957.38000000</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>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PUERTO RICO COMWLTH</name>
        <lei>N/A</lei>
        <title>PR ST 5.625% 7/1/2027</title>
        <cusip>74514L3G0</cusip>
        <identifiers>
          <isin value="US74514L3G08"/>
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        <balance>595000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>622500.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05625000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN MARCOS CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>SAN MARCOS USD 0% 08/01/47</title>
        <cusip>798755DP6</cusip>
        <identifiers>
          <isin value="US798755DP61"/>
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        <balance>11505000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4542559.42000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</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>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2030</title>
        <cusip>13048VGB8</cusip>
        <identifiers>
          <isin value="US13048VGB80"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3251568.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 5% 7/1/2032</title>
        <cusip>802498QY4</cusip>
        <identifiers>
          <isin value="US802498QY42"/>
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        <balance>255000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>268998.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FRESNO CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>FRESNO CA ARPT 5% 7/1/2040 @</title>
        <cusip>358100FL4</cusip>
        <identifiers>
          <isin value="US358100FL43"/>
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        <balance>2625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2860794.04000000</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>2040-07-01</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>SOUTH BAYSIDE WASTE MGMT AUTH CALIF SOLID WASTE ENTERPRISE</name>
        <lei>N/A</lei>
        <title>SOUTH BAYSIDE 5% 9/1/2042</title>
        <cusip>83646ABX0</cusip>
        <identifiers>
          <isin value="US83646ABX00"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49332.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2035</title>
        <cusip>13048VGE2</cusip>
        <identifiers>
          <isin value="US13048VGE20"/>
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        <balance>1780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1913693.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2025 @</title>
        <cusip>798136WV5</cusip>
        <identifiers>
          <isin value="US798136WV52"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501749.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TULARE CA SWR REV</name>
        <lei>N/A</lei>
        <title>TULARE CA SWR 5% 11/15/26</title>
        <cusip>899124KD2</cusip>
        <identifiers>
          <isin value="US899124KD25"/>
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        <balance>965000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>984985.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
        <lei>N/A</lei>
        <title>ELK GROVE CA FI 5% 9/1/2027</title>
        <cusip>287254DR4</cusip>
        <identifiers>
          <isin value="US287254DR44"/>
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        <balance>1875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1934183.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
        <lei>N/A</lei>
        <title>POWAY CA UNI 5% 9/1/34</title>
        <cusip>73885QGE3</cusip>
        <identifiers>
          <isin value="US73885QGE35"/>
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        <balance>1225000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST 3% 10/1/2035</title>
        <cusip>13063DQU5</cusip>
        <identifiers>
          <isin value="US13063DQU53"/>
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        <balance>1185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1169861.15000000</valUSD>
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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>
          <annualizedRt>0.03000000</annualizedRt>
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      <invstOrSec>
        <name>MURRIETA VY CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>MURRIETA VY CALIF UNI SCH DISTCAP APPREC BDS</title>
        <cusip>626905JF1</cusip>
        <identifiers>
          <isin value="US626905JF10"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3900111.00000000</valUSD>
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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>
        <identifiers>
          <isin value="US13048TV919"/>
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        <balance>2130000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 12/1/2031</title>
        <cusip>13080SR89</cusip>
        <identifiers>
          <isin value="US13080SR896"/>
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        <balance>1750000.00000000</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>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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>
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          <isin value="US13049YCD13"/>
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        <balance>1500000.00000000</balance>
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        <valUSD>1577742.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 10/1/2028</title>
        <cusip>13080SPB4</cusip>
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          <isin value="US13080SPB42"/>
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        <curCd>USD</curCd>
        <valUSD>1258503.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
        <lei>N/A</lei>
        <title>SACRAMENTO USD 5% 8/1/2038</title>
        <cusip>785870K88</cusip>
        <identifiers>
          <isin value="US785870K888"/>
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        <curCd>USD</curCd>
        <valUSD>1156549.50000000</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>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2040</title>
        <cusip>13048V2R8</cusip>
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          <isin value="US13048V2R81"/>
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        <curCd>USD</curCd>
        <valUSD>581178.23000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2039</title>
        <cusip>13048V2Q0</cusip>
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          <isin value="US13048V2Q09"/>
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        <curCd>USD</curCd>
        <valUSD>726874.96000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 18C 5% 07/01/34@</title>
        <cusip>786107RT1</cusip>
        <identifiers>
          <isin value="US786107RT12"/>
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        <curCd>USD</curCd>
        <valUSD>4177466.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 5% 7/1/2032 @</title>
        <cusip>786107RR5</cusip>
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          <isin value="US786107RR55"/>
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        <balance>1590000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1666902.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA HLTH 0% 11/15/2042</title>
        <cusip>13032UPV4</cusip>
        <identifiers>
          <isin value="US13032UPV43"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1827623.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 2018 5% 07/01/28</title>
        <cusip>13080SSW5</cusip>
        <identifiers>
          <isin value="US13080SSW51"/>
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        <balance>660000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>713322.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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>1068863.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
        <lei>N/A</lei>
        <title>ELK GROVE CA FI 5% 9/1/2031</title>
        <cusip>287254DV5</cusip>
        <identifiers>
          <isin value="US287254DV55"/>
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        <balance>2500000.00000000</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>
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          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 6/1/27</title>
        <cusip>13048T2G7</cusip>
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          <isin value="US13048T2G70"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 4/1/2031</title>
        <cusip>130179MW1</cusip>
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          <isin value="US130179MW16"/>
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        <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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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>13048T2H5</cusip>
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          <isin value="US13048T2H53"/>
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        <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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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/36@</title>
        <cusip>544445CA5</cusip>
        <identifiers>
          <isin value="US544445CA55"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-15</maturityDt>
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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>
        <cusip>542433WB9</cusip>
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          <isin value="US542433WB90"/>
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        <balance>7750000.00000000</balance>
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        <valUSD>6477958.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>POWAY CA UNIFIED SCH DIST</name>
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      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <name>PANAMA-BUENA VISTA UN SCH DIST CALIF</name>
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      <invstOrSec>
        <name>SANTA BARBARA CALIF FING AUTHREV</name>
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          <isin value="US801262BJ44"/>
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        <name>LINDSAY CALIF UNI SCH DIST</name>
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          <isin value="US535545CE58"/>
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      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <cusip>79766DMB2</cusip>
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          <isin value="US79766DMB28"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048VDW54"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
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          <isin value="US46360RG922"/>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <cusip>79766DKG3</cusip>
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          <isin value="US79766DKG33"/>
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        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
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        <name>MIDDLE FORK PROJECT FINANCE AUTHORITY</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>GROSSMONT-CUYAMACA CCD</name>
        <lei>N/A</lei>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CALIFO ST 5% 9/1/2032</title>
        <cusip>13063EBB1</cusip>
        <identifiers>
          <isin value="US13063EBB11"/>
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        <balance>16195000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18739998.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DESERT CALIF CMTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>DESERT CA CCD 2% 8/1/2037</title>
        <cusip>250375JL7</cusip>
        <identifiers>
          <isin value="US250375JL79"/>
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        <balance>625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>506950.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02000000</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>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
        <title>UPLAND CA COP 5% 1/1/2033</title>
        <cusip>915346FW5</cusip>
        <identifiers>
          <isin value="US915346FW58"/>
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        <balance>2835000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2963768.54000000</valUSD>
        <pctVal>0.182766710999</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2035 PRE @</title>
        <cusip>544445Q36</cusip>
        <identifiers>
          <isin value="US544445Q367"/>
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        <balance>265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>294401.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</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>
      <invstOrSec>
        <name>PALM SPRINGS CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>PALM SPRING USD 1.50% 8/1/2033</title>
        <cusip>6966675C4</cusip>
        <identifiers>
          <isin value="US6966675C46"/>
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        <balance>2725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2262978.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.01500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PALOMAR POMERADO HEALTH CALIF</name>
        <lei>N/A</lei>
        <title>PALOMAR CA HLTH/MBIA 0% 8/1/26</title>
        <cusip>69753RBU7</cusip>
        <identifiers>
          <isin value="US69753RBU77"/>
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        <balance>4870000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4531436.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
        <lei>N/A</lei>
        <title>SAN FRAN ARPT 5% 5/1/30</title>
        <cusip>79766DFT1</cusip>
        <identifiers>
          <isin value="US79766DFT19"/>
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        <balance>330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>340188.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</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>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
        <lei>N/A</lei>
        <title>SAN FRAN ARPT 5% 5/1/50@</title>
        <cusip>79766DSA8</cusip>
        <identifiers>
          <isin value="US79766DSA80"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7222446.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-01</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 MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 6/1/2043</title>
        <cusip>13048T2T9</cusip>
        <identifiers>
          <isin value="US13048T2T91"/>
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        <balance>3750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3853543.13000000</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>2043-06-01</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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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PERRIS CALIF UN HIGH SCH DIST</name>
        <lei>N/A</lei>
        <title>PERRIS CA UHSD 3% 9/1/2045</title>
        <cusip>714398LC6</cusip>
        <identifiers>
          <isin value="US714398LC66"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1710063.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</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% 7/1/2032</title>
        <cusip>13048T4F7</cusip>
        <identifiers>
          <isin value="US13048T4F79"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1445700.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <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>PASADENA CALIF PUB FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>PASADENA CALIF 0% 6/1/2047</title>
        <cusip>702274DS7</cusip>
        <identifiers>
          <isin value="US702274DS70"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>372757.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</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% 6/1/2027</title>
        <cusip>13016NEK6</cusip>
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          <isin value="US13016NEK63"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>417530.60000000</valUSD>
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        <invCountry>US</invCountry>
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          <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>
        <lei>N/A</lei>
        <title>CALIFORNIA IE 5% 8/1/2044</title>
        <cusip>13034RAT0</cusip>
        <identifiers>
          <isin value="US13034RAT05"/>
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        <balance>7610000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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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>4023771.40000000</valUSD>
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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>0.02375000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/2044@</title>
        <cusip>544445NU9</cusip>
        <identifiers>
          <isin value="US544445NU90"/>
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        <balance>13685000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14197474.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>ONTARIO CALIF I 4% 5/15/2037 @</title>
        <cusip>683042AY1</cusip>
        <identifiers>
          <isin value="US683042AY11"/>
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        <balance>1700000.00000000</balance>
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        <valUSD>1707640.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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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% 11/1/2028 @</title>
        <cusip>735000VD0</cusip>
        <identifiers>
          <isin value="US735000VD01"/>
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        <balance>4820000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5046014.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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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        <curCd>USD</curCd>
        <valUSD>538913.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</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>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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        <curCd>USD</curCd>
        <valUSD>519467.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <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>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>
        <identifiers>
          <isin value="US738850QY57"/>
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        <balance>4955000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3770570.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CA ST 2.50% 12/1/2049</title>
        <cusip>13063DA65</cusip>
        <identifiers>
          <isin value="US13063DA650"/>
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        <balance>1350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>955644.35000000</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>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST MBIA-IBC</title>
        <cusip>13062N4C8</cusip>
        <identifiers>
          <isin value="US13062N4C84"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10019.04000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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>2024070.00000000</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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <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% 8/1/2038</title>
        <cusip>924397FE7</cusip>
        <identifiers>
          <isin value="US924397FE76"/>
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        <balance>825000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>905464.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/41@</title>
        <cusip>5444357P9</cusip>
        <identifiers>
          <isin value="US5444357P94"/>
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        <balance>3240000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3251588.51000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</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>
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      </invstOrSec>
      <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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1006774.30000000</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>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04125000</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>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 10/1/2037</title>
        <cusip>13048TX24</cusip>
        <identifiers>
          <isin value="US13048TX246"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>514994.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
        <lei>N/A</lei>
        <title>CA CNTY TOBAC 5% 6/1/2032</title>
        <cusip>13016NEQ3</cusip>
        <identifiers>
          <isin value="US13016NEQ34"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>269842.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2030</title>
        <cusip>13048T4X8</cusip>
        <identifiers>
          <isin value="US13048T4X85"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>777986.85000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE and ECONNOMIC DEV BK REV</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA INFR 1.2% MT</title>
        <cusip>13034AN30</cusip>
        <identifiers>
          <isin value="US13034AN304"/>
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        <balance>17750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15930183.03000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.01200000</annualizedRt>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>STOCKTON CA USD 5% 8/1/2034</title>
        <cusip>861419E47</cusip>
        <identifiers>
          <isin value="US861419E470"/>
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        <balance>1245000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1501180.54000000</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>2034-08-01</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 5% 11/1/2048</title>
        <cusip>13080SRG1</cusip>
        <identifiers>
          <isin value="US13080SRG11"/>
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        <balance>318782.28000000</balance>
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        <curCd>USD</curCd>
        <valUSD>223147.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-01</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 5% 3/1/36@</title>
        <cusip>798136VQ7</cusip>
        <identifiers>
          <isin value="US798136VQ76"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2307039.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>POMONA CALIF WTSW REV</name>
        <lei>N/A</lei>
        <title>POMONA CALIF CA 4% 5/1/2037</title>
        <cusip>73209GAE0</cusip>
        <identifiers>
          <isin value="US73209GAE08"/>
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        <balance>4335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4407885.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080SYY4</cusip>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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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>
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          <isin value="US79766DGF06"/>
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        <balance>23000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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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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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <cusip>13013JDW3</cusip>
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          <isin value="US13013JDW36"/>
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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>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 10/1/2036</title>
        <cusip>13048VDU9</cusip>
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          <isin value="US13048VDU98"/>
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        <curCd>USD</curCd>
        <valUSD>260633.78000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <title>CALIFORNIA MN A 5% 4/1/2037</title>
        <cusip>13048V2N7</cusip>
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          <isin value="US13048V2N77"/>
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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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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2054</title>
        <cusip>13048V2U1</cusip>
        <identifiers>
          <isin value="US13048V2U11"/>
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        <balance>1540000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1625898.12000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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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>4420429.50000000</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>2044-08-01</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>
        <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>1826239.54000000</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>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN 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>2508196.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <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% 5/15/2030@</title>
        <cusip>542424UU8</cusip>
        <identifiers>
          <isin value="US542424UU82"/>
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        <balance>1300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1353441.57000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LONG BEACH CA HBR REV</name>
        <lei>N/A</lei>
        <title>LG BCH CA HBR 5% 5/15/2033@</title>
        <cusip>542424UX2</cusip>
        <identifiers>
          <isin value="US542424UX22"/>
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        <balance>1350000.00000000</balance>
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        <valUSD>1398586.64000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2033-05-15</maturityDt>
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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>
        <cusip>738850RH1</cusip>
        <identifiers>
          <isin value="US738850RH16"/>
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        <balance>10150000.00000000</balance>
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        <valUSD>4063908.77000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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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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        <balance>250000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2033</title>
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          <isin value="US13048T4G52"/>
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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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        <balance>4955000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/35@</title>
        <cusip>798136VP9</cusip>
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          <isin value="US798136VP93"/>
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        <balance>3475000.00000000</balance>
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        <valUSD>3567030.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>STOCKTON CALIF PUB FING AUTH WTR REV</name>
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          <isin value="US861398CB91"/>
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      <invstOrSec>
        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</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>CALIFORNIA INFRASTRUCTURE and ECONNOMIC DEV BK REV</name>
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        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
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        <name>PALM SPRINGS CA UNI SCH DIST</name>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <title>SACRAMENTO USD 5% 8/1/2043</title>
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        <fairValLevel>2</fairValLevel>
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        <name>VALLECITOS WATER DIST CA</name>
        <lei>N/A</lei>
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        <name>FOSTER CITY CALIF</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 CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <title>CALIFORNIA CMY 5% MT</title>
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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>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <name>PASADENA CALIF PUB FING AUTH LEASE REV</name>
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          <isin value="US702274DT53"/>
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      <invstOrSec>
        <name>PASADENA CALIF PUB FING AUTH LEASE REV</name>
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          <isin value="US702274DR97"/>
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      <invstOrSec>
        <name>MOUNTAIN VIEW CALIF SCH DIST SCH FACS IMPT DIST NO 2 SAN BERNARDINO CNTY</name>
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        <title>MOUNTAIN VIE 4% 8/1/2049</title>
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          <isin value="US62440CBN02"/>
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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>
        <cusip>542424UT1</cusip>
        <identifiers>
          <isin value="US542424UT10"/>
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        <balance>1350000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <cusip>13048TV83</cusip>
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          <isin value="US13048TV836"/>
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      <invstOrSec>
        <name>SANTA BARBARA CALIF FING AUTHREV</name>
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          <isin value="US801262BF22"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ABC CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US000416L473"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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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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          <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>POMONA CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>POMONA CA UNI 3% 8/1/2048</title>
        <cusip>732098RB6</cusip>
        <identifiers>
          <isin value="US732098RB66"/>
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        <balance>4000000.00000000</balance>
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        <valUSD>3390708.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
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      <invstOrSec>
        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <title>SAN DIEGO ARPT 5% 7/1/2037@</title>
        <cusip>79739GGM2</cusip>
        <identifiers>
          <isin value="US79739GGM24"/>
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        <balance>750000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 5% 7/1/2035</title>
        <cusip>802498RB3</cusip>
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          <isin value="US802498RB30"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
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          <isin value="US13016NEL47"/>
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          <maturityDt>2028-06-01</maturityDt>
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        <name>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
        <title>UPLAND CA COP 5% 1/1/2031</title>
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          <isin value="US915346FU92"/>
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        <balance>1350000.00000000</balance>
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          <maturityDt>2031-01-01</maturityDt>
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      <invstOrSec>
        <name>SAN MARCOS CALIF UNI SCH DIST</name>
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        <cusip>798755DF8</cusip>
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          <isin value="US798755DF89"/>
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        <balance>2675000.00000000</balance>
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      <invstOrSec>
        <name>ALHAMBRA CA UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US016059DP95"/>
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      <invstOrSec>
        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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        <cusip>861419E21</cusip>
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          <isin value="US861419E215"/>
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      <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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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
        <title>SAC CNTY ARPT 18C 5% 07/01/35@</title>
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        <valUSD>5213355.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048TF995"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US13048V2M94"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TRANSMISSION AGENCY OF NORTHERN CALIFORNIA</name>
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          <isin value="US664848BZ07"/>
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        <curCd>USD</curCd>
        <valUSD>1532038.05000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <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% 9/2/2040</title>
        <cusip>46360RH59</cusip>
        <identifiers>
          <isin value="US46360RH599"/>
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        <balance>1025000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1042580.80000000</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PALOMAR CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>PALOMAR CA CCD 5% 8/1/2035</title>
        <cusip>697511EW9</cusip>
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          <isin value="US697511EW94"/>
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        <balance>1410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1481596.42000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <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>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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        <valUSD>502093.90000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-02</maturityDt>
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        <securityLending>
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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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        <balance>1485000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1366867.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
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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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        <curCd>USD</curCd>
        <valUSD>1081426.80000000</valUSD>
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        <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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      <invstOrSec>
        <name>CALIFORNIA HSG FIN AGY MUN CTFS</name>
        <lei>N/A</lei>
        <title>CALIFORNIA HG 3.50% 11/20/2035</title>
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          <isin value="US13033DAE58"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03500000</annualizedRt>
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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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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-06-15</maturityDt>
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          <annualizedRt>0.03000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
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          <isin value="US13063DQS08"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 4% 10/1/2051</title>
        <cusip>13048VWU8</cusip>
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          <isin value="US13048VWU87"/>
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        <balance>1150000.00000000</balance>
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          <maturityDt>2051-10-01</maturityDt>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <title>CA STWD 2018 5% 07/01/32</title>
        <cusip>13080STA2</cusip>
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          <isin value="US13080STA23"/>
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          <maturityDt>2032-07-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH LEASEREV</name>
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        <title>CALIF CA 13049U 5% 6/1/2037</title>
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          <isin value="US13049UCX54"/>
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      <invstOrSec>
        <name>VERNON CALIF ELEC SYS REV</name>
        <lei>N/A</lei>
        <title>VERNON CA ELEC 5% 8/1/2036</title>
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          <isin value="US924397FC11"/>
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      <invstOrSec>
        <name>DAVIS CALIF JT UNI SCH DIST YOLO CNTY</name>
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        <title>DAVIS CALIF JT 3% 8/1/2041</title>
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          <isin value="US238848ED37"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-01</maturityDt>
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          <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>
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          <isin value="US13048VF371"/>
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        <balance>7500000.00000000</balance>
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        <valUSD>8234081.25000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>WALNUT VLY CA USD BAN</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 11/1/2028 @</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOS ANGELES CA UNI SCH DIST</name>
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        <title>LA CA USD 5% 7/1/2034</title>
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          <isin value="US544647HR40"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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        <title>SAN PABLO CA RV 5% 6/15/2029</title>
        <cusip>799147AQ6</cusip>
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          <isin value="US799147AQ68"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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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>417254.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <securityLending>
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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>1544229.15000000</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
        <lei>N/A</lei>
        <title>BATA CA 5% 4/1/2045</title>
        <cusip>072024B27</cusip>
        <identifiers>
          <isin value="US072024B271"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1107000.80000000</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>2045-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <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>527585.85000000</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>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN 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>1031049.50000000</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>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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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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        <valUSD>8021949.94000000</valUSD>
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        <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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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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        <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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH LEASEREV</name>
        <lei>N/A</lei>
        <title>CALIF CA 13049U 5% 6/1/2033</title>
        <cusip>13049UCT4</cusip>
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          <isin value="US13049UCT43"/>
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        <balance>2320000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MOUNT SAN ANTONIO CA CMNTY COL LEGE DIST</name>
        <lei>N/A</lei>
        <title>MT SAN ANT COLL 2% 8/1/2039</title>
        <cusip>623040NJ7</cusip>
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          <isin value="US623040NJ70"/>
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        <balance>3670000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
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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 2.50% 6/15/2055</title>
        <cusip>79904NHQ6</cusip>
        <identifiers>
          <isin value="US79904NHQ60"/>
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        <balance>10550000.00000000</balance>
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          <maturityDt>2055-06-15</maturityDt>
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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>
        <cusip>79739GMD5</cusip>
        <identifiers>
          <isin value="US79739GMD50"/>
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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 5% 10/1/2039</title>
        <cusip>13048TX32</cusip>
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          <isin value="US13048TX329"/>
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        <balance>1750000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUERTO RICO COMWLTH</name>
        <lei>N/A</lei>
        <title>PR ST 5.75% 7/1/2031</title>
        <cusip>74514L3J4</cusip>
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          <isin value="US74514L3J47"/>
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        <balance>4240000.00000000</balance>
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        <valUSD>4725920.54000000</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>
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        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
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        <name>SAN DIEGO CA UNI SCH DIST</name>
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        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
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        <name>LONG BEACH CA HBR REV</name>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>CALIFORNIA INFRASTRUCTURE and ECONNOMIC DEV BK REV</name>
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        <name>GOLDEN ST TOB SECURTZN CORP CALIF TOB SETTLEMENT REV</name>
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      <invstOrSec>
        <name>LONG BEACH CA CMNTY COLLEGE</name>
        <lei>N/A</lei>
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          <isin value="US542411JG98"/>
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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 ST</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST UNREFUNDED BALANCE</title>
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          <isin value="US13062T4B74"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
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          <isin value="US91412HSM69"/>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <title>LA CA AIRPT 5% 5/15/48@</title>
        <cusip>544445GY9</cusip>
        <identifiers>
          <isin value="US544445GY95"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA HSG FIN AGY MUN CTFS</name>
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          <isin value="US13033DAJ46"/>
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        <fairValLevel>2</fairValLevel>
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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>
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          <isin value="US13078RGJ32"/>
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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% 2/1/2045</title>
        <cusip>13080SLL6</cusip>
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          <isin value="US13080SLL69"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>MUROC CALIF JT UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>MUROC CA JT UN 5.25% 8/1/2047</title>
        <cusip>626625BD8</cusip>
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          <isin value="US626625BD84"/>
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        <balance>4375000.00000000</balance>
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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>
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        <title>STOCKTON CA USD 5% 8/1/2033</title>
        <cusip>861419E39</cusip>
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          <isin value="US861419E397"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2032 @</title>
        <cusip>798136XC6</cusip>
        <identifiers>
          <isin value="US798136XC62"/>
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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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 10/1/2038</title>
        <cusip>130179QE7</cusip>
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          <isin value="US130179QE71"/>
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        <balance>620000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
        <lei>N/A</lei>
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        <cusip>786073AR7</cusip>
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          <isin value="US786073AR70"/>
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        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
        <lei>N/A</lei>
        <title>SAN PABLO CA RV 5% 6/15/2025</title>
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          <isin value="US799147AL71"/>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
        <lei>N/A</lei>
        <title>SACRAMENTO USD 4% 8/1/2044</title>
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          <isin value="US785870B705"/>
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        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
        <title>IRVINE CA IMPT 4% 9/2/2037</title>
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          <isin value="US46360RH268"/>
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        <name>GLENDORA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>GLENDORA CA USD 0% 8/1/2036</title>
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          <isin value="US378622KW32"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5.25% MT</title>
        <cusip>13013JDG8</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 2018 5% 07/01/36</title>
        <cusip>13080STE4</cusip>
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          <isin value="US13080STE45"/>
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        <curCd>USD</curCd>
        <valUSD>530430.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC DI 5% 8/1/43</title>
        <cusip>940642CE9</cusip>
        <identifiers>
          <isin value="US940642CE94"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4999902.50000000</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>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ELK GROVE CA FIN AUTH SPL TAX</name>
        <lei>N/A</lei>
        <title>ELK GROVE CA FI 5% 9/1/2029</title>
        <cusip>287254DT0</cusip>
        <identifiers>
          <isin value="US287254DT00"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2059131.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 10/1/2035</title>
        <cusip>13048VDT2</cusip>
        <identifiers>
          <isin value="US13048VDT26"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>234963.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LOCAL PUB SCHS FDG AUTH SCH FACS IMPT DIST NO 2016-1 CALIF</name>
        <lei>N/A</lei>
        <title>LOCAL PUB SCHS 3% 8/1/2046</title>
        <cusip>53957RCE0</cusip>
        <identifiers>
          <isin value="US53957RCE09"/>
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        <balance>2235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1878566.89000000</valUSD>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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% 7/1/2035 @</title>
        <cusip>358100FF7</cusip>
        <identifiers>
          <isin value="US358100FF74"/>
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        <balance>2060000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2278376.27000000</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <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% 7/1/2029</title>
        <cusip>797257AM4</cusip>
        <identifiers>
          <isin value="US797257AM47"/>
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        <balance>1660000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1749740.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
        <title>ONTARIO CALIF I 4% 5/15/2039 @</title>
        <cusip>683042BA2</cusip>
        <identifiers>
          <isin value="US683042BA26"/>
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        <balance>555000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>554341.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>SOUTH BAYSIDE WASTE MGMT AUTH CALIF SOLID WASTE ENTERPRISE</name>
        <lei>N/A</lei>
        <title>SOUTH BAYSIDE 5% 9/1/2042</title>
        <cusip>83646ACJ0</cusip>
        <identifiers>
          <isin value="US83646ACJ07"/>
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        <balance>1255000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1338637.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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>
        <identifiers>
          <isin value="US282731DZ89"/>
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        <balance>1425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1319234.93000000</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>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH SOLID WASTE DISP REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA SW 4.375% MT @</title>
        <cusip>13048RAM9</cusip>
        <identifiers>
          <isin value="US13048RAM97"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7318735.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.04375000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CERRITOS CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>CERRITOS CA CCD 0% 8/1/2035</title>
        <cusip>156792FK4</cusip>
        <identifiers>
          <isin value="US156792FK45"/>
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        <balance>895000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>630601.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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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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        <curCd>USD</curCd>
        <valUSD>1005589.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04250000</annualizedRt>
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      <invstOrSec>
        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
        <lei>N/A</lei>
        <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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        <valUSD>1947984.77000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-01</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 5% 7/1/35</title>
        <cusip>786107PD8</cusip>
        <identifiers>
          <isin value="US786107PD87"/>
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        <balance>790000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>814622.48000000</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>2035-07-01</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% 5/15/2034@</title>
        <cusip>542424UY0</cusip>
        <identifiers>
          <isin value="US542424UY05"/>
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        <balance>1650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1706713.64000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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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 5% 5/15/34</title>
        <cusip>13048TZ48</cusip>
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          <isin value="US13048TZ480"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1042503.40000000</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>2034-05-15</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>MENDOCINO CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>MENDO CA 3% 8/1/2051</title>
        <cusip>586596DE5</cusip>
        <identifiers>
          <isin value="US586596DE58"/>
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        <balance>3000000.00000000</balance>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>CALIFORNIA HSG FIN AGY MUN CTFS</name>
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        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
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        <name>MODESTO CALIF IRR DIST FING AUTH ELEC SYS REV</name>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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      <invstOrSec>
        <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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        <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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        <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>BAY AREA TOLL AU CA BRIDGE REV</name>
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        <name>STOCKTON CALIF PUB FING AUTH WTR REV</name>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <name>POWAY CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <name>UPLAND CA CTFS PARTN</name>
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        <name>SOUTH SAN FRANCISCO CALIF PUBFACS FING AUTH LEASE REV</name>
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          <isin value="US840035BU27"/>
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        <name>PLACENTIA-YORBA LINDA CA USD</name>
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          <isin value="US725894JZ35"/>
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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>WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT</name>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <name>PORT OAKLAND CALIF REV</name>
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        <name>PASADENA CALIF PUB FING AUTH LEASE REV</name>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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      <invstOrSec>
        <name>LOS ANGELES CA UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US544647BB51"/>
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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
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          <isin value="US786107RQ72"/>
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      <invstOrSec>
        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
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        <cusip>46360RH42</cusip>
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          <isin value="US46360RH425"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>CA ST MFA REV 5% 7/1/2031</title>
        <cusip>13048T4Y6</cusip>
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          <isin value="US13048T4Y68"/>
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      <invstOrSec>
        <name>SAN DIEGO CA PUB FACS FING AUT</name>
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        <title>SAN DIEGO CA PU 5% 10/15/2032</title>
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          <isin value="US797299QG21"/>
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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>735000VJ7</cusip>
        <identifiers>
          <isin value="US735000VJ70"/>
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          <couponKind>Fixed</couponKind>
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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% 7/1/2027@</title>
        <cusip>79739GGB6</cusip>
        <identifiers>
          <isin value="US79739GGB68"/>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5.5% MT</title>
        <cusip>13013JDD5</cusip>
        <identifiers>
          <isin value="US13013JDD54"/>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 5% 7/1/2033</title>
        <cusip>802498QZ1</cusip>
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          <isin value="US802498QZ17"/>
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        <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>
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          <isin value="US376061AV94"/>
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        <name>CALIFORNIA MUN FIN AUTH LEASEREV</name>
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        <title>CALIF CA 13049U 5% 6/1/2036</title>
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          <isin value="US13049UCW71"/>
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        <name>PASADENA CALIF PUB FING AUTH LEASE REV</name>
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          <isin value="US702274DP32"/>
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        <name>SOUTHERN CA PUB PWR AUTH</name>
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          <isin value="US84247PND95"/>
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        <name>POMONA CA UNI SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US732098NP98"/>
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        <name>VERNON CALIF ELEC SYS REV</name>
        <lei>N/A</lei>
        <title>VERNON CA ELEC 5% 8/1/2039</title>
        <cusip>924397FF4</cusip>
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          <isin value="US924397FF42"/>
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        <name>LOS ANGELES CNTY CA PUB WKS</name>
        <lei>N/A</lei>
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          <isin value="US54473EWQ33"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2051-12-01</maturityDt>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
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        <name>FULLERTON PUBLIC FINANCING AUTHORITY</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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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>SAN DIEGO CA UNI SCH DIST</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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        <name>SAN DIEGO CA PUB FACS FING AUT</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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        <name>SAN JOSE CALIF ARPT REV</name>
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      <invstOrSec>
        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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      <invstOrSec>
        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
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      <invstOrSec>
        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
        <lei>N/A</lei>
        <title>SACRAMENTO USD 5% 8/1/2036</title>
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          <isin value="US785870K623"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CA MUN FIN AUTH STUDENT HSG REV</name>
        <lei>N/A</lei>
        <title>CA MUN FIN AUT 5% 5/15/2043</title>
        <cusip>13049YCJ8</cusip>
        <identifiers>
          <isin value="US13049YCJ82"/>
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        <balance>1500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <cusip>13080STC8</cusip>
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          <isin value="US13080STC88"/>
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        <balance>885000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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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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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US130175W574"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>CALIFORNIA ST UNIV REV</name>
        <lei>N/A</lei>
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        <cusip>13077DGF3</cusip>
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          <isin value="US13077DGF33"/>
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        <balance>5000000.00000000</balance>
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      <invstOrSec>
        <name>EL DORADO CALIF IRR DIST REV</name>
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      <invstOrSec>
        <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>
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      <invstOrSec>
        <name>WISEBURN CA SCH DIST</name>
        <lei>N/A</lei>
        <title>WISEBURN CA SD 0% 8/1/2037</title>
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          <isin value="US977266JN69"/>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
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          <isin value="US91412HSK04"/>
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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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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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        <name>MERCED CALIF UN HIGH SCH DIST</name>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <name>LONG BEACH CA HBR REV</name>
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        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
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        <name>CALIFORNIA STWD CMNTY DEV AUTH STUDENT HSG REV</name>
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          <isin value="US13078RGH75"/>
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        <name>ESCONDIDO CA UN HIGH SCH DIST</name>
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      <invstOrSec>
        <name>SAN JACINTO CA UNI SCH DIST</name>
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          <isin value="US797848GU62"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <name>WASHINGTON TWP CA HEALTH CARE DIST REV</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <name>OAKLAND CA UNI SCH D ALAM CNTY</name>
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        <name>PALM SPRINGS CA UNI SCH DIST</name>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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      <invstOrSec>
        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
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      <invstOrSec>
        <name>POWAY CA UNIFIED SCH DIST</name>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048V2L12"/>
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      <invstOrSec>
        <name>POWAY CA UNIFIED SCH DIST</name>
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          <couponKind>Fixed</couponKind>
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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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          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SACRAMENTO CALIF TRANSIENT OCCUPANCY TAX REV</name>
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        <cusip>786073AU0</cusip>
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          <isin value="US786073AU00"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MURRIETA VY CA UNI SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>626905LE1</cusip>
        <identifiers>
          <isin value="US626905LE17"/>
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        <balance>500000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>LINDSAY CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LINDS CA 0% 8/1/2032</title>
        <cusip>535545CC9</cusip>
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          <isin value="US535545CC92"/>
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        <balance>695000.00000000</balance>
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        <valUSD>537690.02000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>FOOTHILL/ESTRN TRANSN CA TOLL</name>
        <lei>N/A</lei>
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          <isin value="US345105JC59"/>
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        <balance>9000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-15</maturityDt>
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      <invstOrSec>
        <name>PALMDALE CA ELEM SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US69671TEP03"/>
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        <balance>1275000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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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>
        <identifiers>
          <isin value="US940204EW66"/>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MONTEREY PENINSULA CA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>MONTEREY PENSLA 3% 8/1/2034</title>
        <cusip>612574EN9</cusip>
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          <isin value="US612574EN98"/>
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      <invstOrSec>
        <name>UNIVERSITY CA REVS</name>
        <lei>N/A</lei>
        <title>UNIV CAL REV 5% 5/15/2031</title>
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          <isin value="US91412HSH74"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2049</title>
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          <isin value="US13048V2T48"/>
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        <name>SAN MARCOS CA REDEVELOPMENT and SUCCESSOR AGENCY</name>
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          <isin value="US79876CAP32"/>
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        <balance>675000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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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>
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          <isin value="US296353KZ79"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
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        <name>EASTERN MUN WTR DIST FING AUTH CA WTR and WASTEWATER REV</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>Fidelity Revere Street Trust</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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          <isin value="US798136VM62"/>
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      <invstOrSec>
        <name>BAY AREA TOLL AU CA BRIDGE REV</name>
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          <isin value="US072024A935"/>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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          <isin value="US13080SSY18"/>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048V2K39"/>
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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>
        <cusip>73885QFZ7</cusip>
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          <isin value="US73885QFZ72"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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        <title>MONTEBELLO HOME2 SUITES HILTON</title>
        <cusip>612286DN1</cusip>
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          <isin value="US612286DN15"/>
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        <balance>1800000.00000000</balance>
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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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        <title>RANCHO CUCAMONG 5% 9/1/2027</title>
        <cusip>75212CAP4</cusip>
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          <isin value="US75212CAP41"/>
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        <fairValLevel>2</fairValLevel>
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        <name>IRVINE CALIF IMPT BD ACT 1915</name>
        <lei>N/A</lei>
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          <isin value="US46360RH342"/>
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        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
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        <cusip>797257AU6</cusip>
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          <isin value="US797257AU62"/>
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        <name>PASADENA CALIF PUB FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>PASADENA CALIF 0% 6/1/2040</title>
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          <isin value="US702274DK45"/>
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        <name>STOCKTON CA UNIFIED SCHOOL DIS</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 5% 3/1/2042</title>
        <cusip>13080SWG5</cusip>
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          <isin value="US13080SWG55"/>
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        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
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          <isin value="US359816DB81"/>
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        <name>FULLERTON PUBLIC FINANCING AUTHORITY</name>
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          <isin value="US359816DE21"/>
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      <invstOrSec>
        <name>POWAY CALIF UNI SCH DIST PUB FING AUTH SPL TAX REV</name>
        <lei>N/A</lei>
        <title>POWAY CA UNI 5% 9/1/31</title>
        <cusip>73885QGB9</cusip>
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          <isin value="US73885QGB95"/>
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        <name>IRVINE CALIF IMPT BD ACT 1915</name>
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      <invstOrSec>
        <name>SANTA MONICA CALIF PUB FING AUTH LEASE REV</name>
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      <invstOrSec>
        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
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          <isin value="US358233CT97"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
        <lei>N/A</lei>
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          <isin value="US683042BB09"/>
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        <name>CALIFORNIA ST</name>
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        <name>MONTEBELLO CALIF PUB FING AUTHREV</name>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048VJW90"/>
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      <invstOrSec>
        <name>BURBANK GLENDALE PASADENA ARPT AUTH CALIF ARPT REV</name>
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          <isin value="US120827DW71"/>
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        <fairValLevel>2</fairValLevel>
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        <name>ONTARIO CALIF INTL ARPT AUTH REV</name>
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          <isin value="US683042AM72"/>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
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        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
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        <name>CALIFORNIA INFRASTRUCTURE and ECONOMIC DEV BK LEASE REV</name>
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        <name>UPLAND CA CTFS PARTN</name>
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        <name>LOS ANGELES CALIF WTR and PWR RE</name>
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        <name>SAN JUAN CA UNI SCH DIST</name>
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        <name>CENTER JOINT CA UNIFIED SCH DIST</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAN PABLO CALIF REDEV AGY SUCCESSOR AGY TAX ALLOC</name>
        <lei>N/A</lei>
        <title>SAN PABLO CA RV 5% 6/15/2027</title>
        <cusip>799147AN3</cusip>
        <identifiers>
          <isin value="US799147AN38"/>
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        <balance>1770000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1774459.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</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>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 11/1/2029 @</title>
        <cusip>735000VE8</cusip>
        <identifiers>
          <isin value="US735000VE83"/>
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        <balance>4125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4307994.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-01</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>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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        <curCd>USD</curCd>
        <valUSD>2001917.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-15</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>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <title>SAN FRAN ARPT 5% 5/1/2043 @</title>
        <cusip>79766DLF4</cusip>
        <identifiers>
          <isin value="US79766DLF41"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1028993.30000000</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>2043-05-01</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>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>
        <identifiers>
          <isin value="US287254EC65"/>
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        <balance>4500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4576780.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ROCKLIN CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>ROCKLIN CALIF UNI SCH DIST FGIC</title>
        <cusip>773754FJ0</cusip>
        <identifiers>
          <isin value="US773754FJ04"/>
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        <balance>6500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5971950.40000000</valUSD>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <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% 5/15/2035 @</title>
        <cusip>544445S26</cusip>
        <identifiers>
          <isin value="US544445S264"/>
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        <balance>4735000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5149033.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC DI 4.50% 8/1/2053</title>
        <cusip>940642GG0</cusip>
        <identifiers>
          <isin value="US940642GG07"/>
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        <balance>2400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2500144.80000000</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>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04500000</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 ST</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST UNREFUNDED BALANCE-2007</title>
        <cusip>13062TU44</cusip>
        <identifiers>
          <isin value="US13062TU441"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60103.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05625000</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>NOVATO CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>NOVATO CA USD 2% 8/1/2039</title>
        <cusip>669878HK9</cusip>
        <identifiers>
          <isin value="US669878HK91"/>
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        <balance>5810000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4521260.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02000000</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>FULLERTON PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>FULLERTON PUBLI 4% 2/1/2046</title>
        <cusip>359816DD4</cusip>
        <identifiers>
          <isin value="US359816DD48"/>
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        <balance>2055000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2047460.41000000</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>2046-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN DIEGO CNTY CA REG ARPT AUTH ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO ARPT 5% 7/1/2028@</title>
        <cusip>79739GGC4</cusip>
        <identifiers>
          <isin value="US79739GGC42"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1039971.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DRY CREEK CALIF JT ELEM SCH DIST</name>
        <lei>N/A</lei>
        <title>DRY CREEK CA JT 0% 8/1/2034</title>
        <cusip>262386EX9</cusip>
        <identifiers>
          <isin value="US262386EX98"/>
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        <balance>2935000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2130920.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CARLSBAD CA UNIFIED SCHOOL DIS</name>
        <lei>N/A</lei>
        <title>CARLSBAD CA USD 4% 5/1/2031</title>
        <cusip>142665EV6</cusip>
        <identifiers>
          <isin value="US142665EV62"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1536931.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2036</title>
        <cusip>13048VGF9</cusip>
        <identifiers>
          <isin value="US13048VGF94"/>
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        <balance>1125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1207064.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 4/1/2030</title>
        <cusip>130179TK0</cusip>
        <identifiers>
          <isin value="US130179TK05"/>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>473807.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
        <lei>N/A</lei>
        <title>SACRAMENTO USD 0% 7/1/2028</title>
        <cusip>785870RM0</cusip>
        <identifiers>
          <isin value="US785870RM08"/>
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        <balance>1450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1314630.03000000</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>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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      <invstOrSec>
        <name>WALNUT VLY CA USD BAN</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITY OF FRESNO UNIFIED SCHOOL</name>
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          <isin value="US358233CU60"/>
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        <name>SAN DIEGO CA PUB FACS FING AUT</name>
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          <isin value="US797299QF48"/>
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      <invstOrSec>
        <name>UPLAND CA CTFS PARTN</name>
        <lei>N/A</lei>
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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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      <invstOrSec>
        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
        <title>PORT OAKLAND CA 5% 11/1/2027@</title>
        <cusip>735000RP8</cusip>
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          <isin value="US735000RP86"/>
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        <balance>4000000.00000000</balance>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048T2N22"/>
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        <fairValLevel>2</fairValLevel>
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        <name>PUERTO RICO COMWLTH</name>
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          <isin value="US74514L3R62"/>
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        <name>SOUTHWESTERN CMNTY COLLEGE DIST CA</name>
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        <name>CALIFORNIA ST</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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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>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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          <isin value="US13048T4D22"/>
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      <invstOrSec>
        <name>FRESNO CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>FRESNO CA ARPT 5% 7/1/2036 @</title>
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        <curCd>USD</curCd>
        <valUSD>2380605.77000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>MIRACOSTA CA CMNTY CLG DIST</name>
        <lei>N/A</lei>
        <title>MIRACOSTA CCD 2% 8/1/2040</title>
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          <isin value="US604617BX79"/>
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        <valUSD>788198.88000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <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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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CA EDL FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>CA EDL FACS 5% 10/1/2036</title>
        <cusip>130179QC1</cusip>
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          <isin value="US130179QC16"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-01</maturityDt>
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      <invstOrSec>
        <name>SACRAMENTO CNTY CA ARPT SYS RV</name>
        <lei>N/A</lei>
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          <isin value="US786107RV67"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>GATEWAY CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>GATEWAY CA USCD 0% I=FGIC 8/1/2036</title>
        <cusip>36759RCC9</cusip>
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          <isin value="US36759RCC97"/>
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        <curCd>USD</curCd>
        <valUSD>1541575.63000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2029 @</title>
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          <isin value="US798136WZ66"/>
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        <balance>1000000.00000000</balance>
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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>CITY OF FRESNO UNIFIED SCHOOL</name>
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        <cusip>358233CQ5</cusip>
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          <isin value="US358233CQ58"/>
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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>STOCKTON CA UNIFIED SCHOOL DIS</name>
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        <title>STOCKTON CA USD 0% 8/1/2033</title>
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          <isin value="US861419RK72"/>
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        <balance>1900000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.00000000</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>130179MV3</cusip>
        <identifiers>
          <isin value="US130179MV33"/>
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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 EDL FACS AUTH REV</name>
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        <title>CA SANTA CLARA 5.25 9/1/26</title>
        <cusip>130175DK5</cusip>
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          <isin value="US130175DK56"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
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      <invstOrSec>
        <name>POMONA CA UNI SCH DIST</name>
        <lei>N/A</lei>
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        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
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          <isin value="US802498QX68"/>
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        <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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        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% MT</title>
        <cusip>13013JEB8</cusip>
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          <isin value="US13013JEB89"/>
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        <name>SOUTHWESTERN CMNTY COLLEGE DIST CA</name>
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        <title>STHWSTRN CA CCD 0% NATL/FGIC 8/1/2028</title>
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          <isin value="US845389BU85"/>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% 12/1/2030</title>
        <cusip>13013JDX1</cusip>
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      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 4% 10/1/2037</title>
        <cusip>13048VWR5</cusip>
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          <isin value="US13048VWR58"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
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        <cusip>13048VDP0</cusip>
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          <isin value="US13048VDP04"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>LONG BEACH CA CMNTY COLLEGE</name>
        <lei>N/A</lei>
        <title>LONGBEACH CA CC 0% 6/1/2033</title>
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        <identifiers>
          <isin value="US542411JM66"/>
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        <valUSD>6770126.12000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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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>940204GK0</cusip>
        <identifiers>
          <isin value="US940204GK01"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>350133.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2029 @</title>
        <cusip>798136VH7</cusip>
        <identifiers>
          <isin value="US798136VH77"/>
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        <curCd>USD</curCd>
        <valUSD>758910.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SAN JOSE CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>SAN JOSE ARPT 5% 3/1/2027 @</title>
        <cusip>798136WX1</cusip>
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          <isin value="US798136WX19"/>
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        <invCountry>US</invCountry>
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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>PASADENA CALIF PUB FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>PASADENA CALIF 0% 6/1/2041</title>
        <cusip>702274DL2</cusip>
        <identifiers>
          <isin value="US702274DL28"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>512959.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OCEANSIDE CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>OCEANSIDE CA SD 0% 8/1/2031</title>
        <cusip>675383WQ2</cusip>
        <identifiers>
          <isin value="US675383WQ26"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101800.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTA MONICA-MALIBU UNSHDS CA</name>
        <lei>N/A</lei>
        <title>SANTA-MONICA CA 5% 7/1/2034</title>
        <cusip>802498RA5</cusip>
        <identifiers>
          <isin value="US802498RA56"/>
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        <balance>315000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>331513.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN MATEO CNTY CALIF CMNTY COL DIST</name>
        <lei>N/A</lei>
        <title>SAN MATEO CA CC 5% 9/1/2038</title>
        <cusip>799038NH3</cusip>
        <identifiers>
          <isin value="US799038NH33"/>
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        <balance>760000.00000000</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>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 2018 5% 07/01/27</title>
        <cusip>13080SSV7</cusip>
        <identifiers>
          <isin value="US13080SSV78"/>
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        <balance>245000.00000000</balance>
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        <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>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA 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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          <maturityDt>2031-05-15</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 5% 6/1/30</title>
        <cusip>13048T2K8</cusip>
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          <isin value="US13048T2K82"/>
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        <name>SAN DIEGO CA PUB FACS FING AUT</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA PU 5% 10/15/2035</title>
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          <isin value="US797299QK33"/>
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        <name>RICHMOND CALIF WASTEWATER REV</name>
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          <isin value="US764507DA46"/>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA MN A 5% 4/1/2044</title>
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          <isin value="US13048V2S64"/>
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        <name>CALIFORNIA INFRASTRUCTURE and ECONNOMIC DEV BK REV</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA INFR 3.25% 8/1/2029</title>
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          <isin value="US13034A5B23"/>
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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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          <isin value="US13049UCS69"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>PASADENA CALIF PUB FING AUTH LEASE REV</name>
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      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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        <name>CALIFORNIA MUN FN AUTH REV</name>
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          <isin value="US13048VGD47"/>
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        <name>CALIFORNIA ST PUB WKS BRD LSE</name>
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        <name>LOS ANGELES CA DEPT ARPTS REV</name>
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          <isin value="US544445NN57"/>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <name>CALIFORNIA MUN FIN AUTH REV</name>
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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>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <name>SAN FRANCISCO CA CITY and COUNTY AIRPORTS COMMISSION INTERNATIONAL AIRPORT REVENUE</name>
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        <name>SAN JOSE CALIF ARPT REV</name>
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        <name>CALIFORNIA HEALTH FACS FNG AUTH REV</name>
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        <title>CALIFORNIA HLTH 5% 11/15/2027</title>
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        <name>FRESNO CALIF ARPT REV</name>
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        <name>SACRAMENTO CA CITY UNI SCH DIS</name>
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        <name>PORT OAKLAND CALIF REV</name>
        <lei>N/A</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTA BARBARA CALIF FING AUTHREV</name>
        <lei>N/A</lei>
        <title>SANTA CA 5% 4/1/2038</title>
        <cusip>801262BK1</cusip>
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          <isin value="US801262BK17"/>
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        <balance>845000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>914303.94000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMY 5% 11/1/2055 MT</title>
        <cusip>13013JFS0</cusip>
        <identifiers>
          <isin value="US13013JFS06"/>
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        <balance>4480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4842877.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA CA TOB SECURITAZTN</name>
        <lei>N/A</lei>
        <title>CA CNTY TOBAC 5% 6/1/2030</title>
        <cusip>13016NEN0</cusip>
        <identifiers>
          <isin value="US13016NEN03"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>326042.07000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CA DEPT ARPTS REV</name>
        <lei>N/A</lei>
        <title>LA CA AIRPT 5% 5/15/30@</title>
        <cusip>544445NJ4</cusip>
        <identifiers>
          <isin value="US544445NJ46"/>
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        <balance>2480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2650254.73000000</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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RICHMOND CALIF WASTEWATER REV</name>
        <lei>N/A</lei>
        <title>RICHMOND CA WTR 5% 8/1/2044</title>
        <cusip>764507DB2</cusip>
        <identifiers>
          <isin value="US764507DB29"/>
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        <balance>2135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2281810.93000000</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>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MONROVIA CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>MONROVIA CALIF UNI SCH DIST CAP APPREC-SER B FGIC</title>
        <cusip>611594GD8</cusip>
        <identifiers>
          <isin value="US611594GD88"/>
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        <balance>2625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1964940.08000000</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>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RANCHO CUCAMONGA CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
        <lei>N/A</lei>
        <title>RANCHO CUCAMONG 5% 9/1/2029</title>
        <cusip>75212CAR0</cusip>
        <identifiers>
          <isin value="US75212CAR07"/>
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        <balance>1850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1853616.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <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% 3/1/2030</title>
        <cusip>798136WH6</cusip>
        <identifiers>
          <isin value="US798136WH68"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>262602.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 2018 5% 07/01/43</title>
        <cusip>13080STH7</cusip>
        <identifiers>
          <isin value="US13080STH75"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1308411.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SANTEE CA SCH DIST</name>
        <lei>N/A</lei>
        <title>SANTEE CA SCH D 0% 8/1/2038</title>
        <cusip>802853JK8</cusip>
        <identifiers>
          <isin value="US802853JK87"/>
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        <balance>4140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2549679.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN DIEGO CALIF ASSN GOVTS SOUTH BAY EXPWY TOLL REV</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CALI 5% 7/1/2042</title>
        <cusip>797257AX0</cusip>
        <identifiers>
          <isin value="US797257AX02"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5197189.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA STWD CMNTY DV AU RV</name>
        <lei>N/A</lei>
        <title>CA STWD 4% 4/1/2038</title>
        <cusip>13080SC28</cusip>
        <identifiers>
          <isin value="US13080SC286"/>
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        <balance>2625000.00000000</balance>
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        <valUSD>2629589.55000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.04000000</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% 6/15/2030</title>
        <cusip>799147AR4</cusip>
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          <isin value="US799147AR42"/>
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        <balance>1150000.00000000</balance>
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          <maturityDt>2030-06-15</maturityDt>
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      <invstOrSec>
        <name>WASHINGTON TWP CA HEALTH CARE DIST</name>
        <lei>N/A</lei>
        <title>WA TWP CA HC DI 5.25% 8/1/2048</title>
        <cusip>940642GE5</cusip>
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          <isin value="US940642GE58"/>
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        <balance>1625000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-08-01</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% 4/1/2030</title>
        <cusip>13063DLG1</cusip>
        <identifiers>
          <isin value="US13063DLG15"/>
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        <balance>4695000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-04-01</maturityDt>
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      <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>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-01</maturityDt>
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          <annualizedRt>0.04000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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>
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          <isin value="US777798GW39"/>
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        <balance>1940000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1780062.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>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>9384200.46000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8149852.47000000</valUSD>
        <pctVal>0.502576942488</pctVal>
        <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>
          <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>BURBANK GLENDALE PASADENA ARPT AUTH CALIF ARPT REV</name>
        <lei>N/A</lei>
        <title>BURBANK CA ARPT 5% 7/1/2036 @</title>
        <cusip>120827DU1</cusip>
        <identifiers>
          <isin value="US120827DU16"/>
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        <balance>4750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5254210.13000000</valUSD>
        <pctVal>0.324011369782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2304638.55000000</valUSD>
        <pctVal>0.142120142697</pctVal>
        <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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </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"/>
        </identifiers>
        <balance>875000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>914462.33000000</valUSD>
        <pctVal>0.056392147406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <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"/>
        </identifiers>
        <balance>235000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>260855.33000000</valUSD>
        <pctVal>0.016086165322</pctVal>
        <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>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4837700.60000000</valUSD>
        <pctVal>0.298326477095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SANTA CLARA CA UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>SANTA CLARA SD 3% 7/1/2035</title>
        <cusip>801495R95</cusip>
        <identifiers>
          <isin value="US801495R954"/>
        </identifiers>
        <balance>265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>263613.94000000</valUSD>
        <pctVal>0.016256280521</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUERTO RICO COMWLTH</name>
        <lei>N/A</lei>
        <title>PR ST 5.625% 7/1/2029</title>
        <cusip>74514L3H8</cusip>
        <identifiers>
          <isin value="US74514L3H80"/>
        </identifiers>
        <balance>1815000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1958113.29000000</valUSD>
        <pctVal>0.120750969904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05625000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-12-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Laura M. Del Prato</ncom:nameOfApplicant>
      <ncom:signature>Laura M. Del Prato</ncom:signature>
      <ncom:signerName>Laura M. Del Prato</ncom:signerName>
      <ncom:title>President and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
