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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Public Buildings Authority</name>
        <lei>N/A</lei>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Territory of Guam</name>
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        <curCd>USD</curCd>
        <valUSD>323566.20000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>South Carolina Ports Authority</name>
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          <isin value="US837123GG78"/>
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        <curCd>USD</curCd>
        <valUSD>602715.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Infrastructure Financing Authority</name>
        <lei>549300G1ONPUNRBJUC88</lei>
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          <isin value="US745220FQ17"/>
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        <curCd>USD</curCd>
        <valUSD>54884.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US6461366M81"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Birmingham-Jefferson Civic Center Authority</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>1035898.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Joint Municipal Water &amp; Sewer Commission</name>
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          <isin value="US529055CR41"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Charleston County Airport District</name>
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          <isin value="US160070CP14"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2046020.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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          <isin value="US74529JRK33"/>
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        <balance>4000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-07-01</maturityDt>
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          <annualizedRt>4.53600000</annualizedRt>
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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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          <maturityDt>2043-07-01</maturityDt>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
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        <name>Private Colleges &amp; Universities Authority</name>
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        <name>Spartanburg Regional Health Services District</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <name>MFS Institutional Money Market Portfolio</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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      <invstOrSec>
        <name>Private Colleges &amp; Universities Authority</name>
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        <name>New Jersey Building Authority</name>
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        <name>Sales Tax Securitization Corp.</name>
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        <name>County of Greenwood SC</name>
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      <invstOrSec>
        <name>Central Plains Energy Project</name>
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        <name>City of Chicago IL</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US6461367L99"/>
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        <name>Lexington County Health Services District, Inc.</name>
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        <name>Dillon County School Facilities Corp.</name>
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      <invstOrSec>
        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>South Carolina Ports Authority</name>
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          <maturityDt>2028-07-01</maturityDt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Dillon County School Facilities Corp.</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2045-06-15</maturityDt>
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      <invstOrSec>
        <name>University of South Carolina</name>
        <lei>N/A</lei>
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          <isin value="US914849KG80"/>
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        <valUSD>170489.60000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Sales Tax Securitization Corp.</title>
        <cusip>79467BCZ6</cusip>
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          <isin value="US79467BCZ67"/>
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        <curCd>USD</curCd>
        <valUSD>50675.85000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Guam Power Authority</name>
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          <isin value="US400653HP97"/>
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        <valUSD>190500.30000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Michigan Finance Authority</name>
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          <isin value="US59447PD328"/>
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        <curCd>USD</curCd>
        <valUSD>79279.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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        <curCd>USD</curCd>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Village of Bridgeview IL</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-01</maturityDt>
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          <annualizedRt>5.14000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QM337"/>
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        <valUSD>113400.00000000</valUSD>
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        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Colorado Health Facilities Authority</name>
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        <valUSD>136664.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Delaware Valley Regional Finance Authority</name>
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        <name>Puerto Rico Infrastructure Financing Authority</name>
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        <invCountry>PR</invCountry>

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          <maturityDt>2024-07-01</maturityDt>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <name>Sales Tax Securitization Corp.</name>
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        <name>Spartanburg Regional Health Services District</name>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
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      <invstOrSec>
        <name>City of Valparaiso IN</name>
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          <maturityDt>2044-01-01</maturityDt>
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      <invstOrSec>
        <name>Aiken County Consolidated School District SC</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
        <lei>549300J6QBXVWJXB7Y41</lei>
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          <isin value="US745190UQ97"/>
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        <curCd>USD</curCd>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Guam Power Authority</name>
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        <curCd>USD</curCd>
        <valUSD>163557.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Columbia SC Waterworks &amp; Sewer System Revenue</name>
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          <isin value="US198504YW64"/>
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        <curCd>USD</curCd>
        <valUSD>2315340.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Texas Education Finance Corp.</name>
        <lei>N/A</lei>
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          <isin value="US66286TAB89"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>235039.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Connecticut Housing Finance Authority</name>
        <lei>5493003DXX0NRJKSH186</lei>
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          <isin value="US20775CTX29"/>
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        <curCd>USD</curCd>
        <valUSD>855293.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>City of Brunswick MD</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>21627.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tennessee Housing Development Agency</name>
        <lei>N/A</lei>
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        <cusip>880461YM4</cusip>
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          <isin value="US880461YM45"/>
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        <balance>1040000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1160733.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <name>City of Chicago IL</name>
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        <curCd>USD</curCd>
        <valUSD>115236.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>County of Lancaster SC</name>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <title>Puerto Rico Sales Tax Financing Corp. Sales Tax</title>
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          <isin value="US74529JPV16"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
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          <annualizedRt>4.55000000</annualizedRt>
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        <name>Tennessee Energy Acquisition Corp.</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2022-09-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Sumter Two School Facilities, Inc.</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-12-01</maturityDt>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <invCountry>PR</invCountry>

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          <maturityDt>2037-07-01</maturityDt>
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        <name>Doylestown Hospital Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>

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          <maturityDt>2021-07-01</maturityDt>
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        <name>New York State Urban Development Corp.</name>
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      <invstOrSec>
        <name>Lugoff-Elgin Water Authority SC</name>
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      <invstOrSec>
        <name>Buckeye Tobacco Settlement Financing Authority</name>
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      <invstOrSec>
        <name>Greenwood Fifty Schools Facilities, Inc.</name>
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          <isin value="US39715RBL78"/>
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        <name>City of Columbia SC Waterworks &amp; Sewer System Revenue</name>
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          <isin value="US198504ZU99"/>
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          <maturityDt>2044-02-01</maturityDt>
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      <invstOrSec>
        <name>Lugoff-Elgin Water Authority SC</name>
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          <isin value="US549843EP12"/>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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          <maturityDt>2029-07-01</maturityDt>
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        <name>Tuscaloosa County Industrial Development Authority</name>
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          <isin value="US90068FAZ99"/>
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          <maturityDt>2044-05-01</maturityDt>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <name>City of Spartanburg SC Water System Revenue</name>
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        <name>City of Columbia SC Waterworks &amp; Sewer System Revenue</name>
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        <name>University of South Carolina</name>
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        <name>Tuscaloosa County Industrial Development Authority</name>
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        <name>Richland County School District No. 1 SC</name>
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        <name>Aiken County Consolidated School District SC</name>
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        <name>Maryland Community Development Administration</name>
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        <name>Sales Tax Securitization Corp.</name>
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        <name>Lexington County Health Services District, Inc.</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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          <maturityDt>2030-07-01</maturityDt>
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        <name>Lexington County Health Services District, Inc.</name>
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        <name>Lexington County Health Services District, Inc.</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
        <lei>N/A</lei>
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        <name>South Carolina Transportation Infrastructure Bank</name>
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        <name>City of Chicago IL</name>
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        <name>South Carolina Public Service Authority</name>
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        <name>Spartanburg County School District No. 7</name>
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        <name>Piedmont Municipal Power Agency</name>
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        <name>Wayne County Airport Authority</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>City of Rock Hill SC Combined Utility System Revenue</name>
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        <name>South Carolina Ports Authority</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>City of Rock Hill SC Combined Utility System Revenue</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-01</maturityDt>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>Charleston County Park &amp; Recreation Commission</name>
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          <isin value="US159902EX91"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Port Beaumont Navigation District</name>
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          <isin value="US73360CAD65"/>
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        <curCd>USD</curCd>
        <valUSD>412706.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2050-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Jefferson Parish Hospital Service District No. 2</name>
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          <isin value="US474702DL83"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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        <name>County of Greenwood SC</name>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
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          <isin value="US79467BCW37"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-11-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Puerto Rico Infrastructure Financing Authority</name>
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        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>County of Charleston SC</name>
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          <maturityDt>2026-11-01</maturityDt>
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        <name>Private Colleges &amp; Universities Authority</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>South Carolina Ports Authority</name>
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        <name>Michigan Finance Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <name>Guam Government Waterworks Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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      <invstOrSec>
        <name>Wayne County Airport Authority</name>
        <lei>N/A</lei>
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          <isin value="US944514RS98"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Spartanburg Regional Health Services District</name>
        <lei>549300CVHLQ72HQF3340</lei>
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          <isin value="US847113CG08"/>
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        <valUSD>3705028.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-04-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Chicago IL</name>
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          <isin value="US167486ST72"/>
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        <curCd>USD</curCd>
        <valUSD>433236.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Highway &amp; Transportation Authority</name>
        <lei>549300J6QBXVWJXB7Y41</lei>
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          <isin value="US745190UP15"/>
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        <balance>480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>511526.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Joint Municipal Water &amp; Sewer Commission</name>
        <lei>N/A</lei>
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          <isin value="US529055CQ67"/>
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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>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>College of Charleston</name>
        <lei>N/A</lei>
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          <isin value="US19421VDE92"/>
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        <curCd>USD</curCd>
        <valUSD>1269720.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lexington County School District No. 1 SC</name>
        <lei>N/A</lei>
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          <isin value="US529063QG71"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chattanooga Health Educational &amp; Housing Facility Board</name>
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          <isin value="US162410FE92"/>
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        <curCd>USD</curCd>
        <valUSD>24506.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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        <curCd>USD</curCd>
        <valUSD>261532.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Territory of Guam</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US6461367K17"/>
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          <maturityDt>2045-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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          <isin value="US74529JQC26"/>
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        <invCountry>PR</invCountry>

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        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>None</couponKind>
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          <maturityDt>2033-12-01</maturityDt>
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        <name>Summit County Development Finance Authority</name>
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        <name>District of Columbia</name>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
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        <balance>695000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
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      <invstOrSec>
        <name>Dillon County School Facilities Corp.</name>
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          <isin value="US25420CAN20"/>
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        <name>Jefferson Parish Hospital Service District No. 2</name>
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          <isin value="US7087968E02"/>
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          <maturityDt>2037-10-01</maturityDt>
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          <annualizedRt>3.70000000</annualizedRt>
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        <name>Pinellas County Educational Facilities Authority</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <name>Chattanooga Health Educational &amp; Housing Facility Board</name>
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        <name>City of Columbia SC Waterworks &amp; Sewer System Revenue</name>
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        <name>Orangeburg County Facilities Corp.</name>
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        <name>Sales Tax Securitization Corp.</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <name>Guam Government Waterworks Authority</name>
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          <maturityDt>2046-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Spartanburg Regional Health Services District</name>
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        <name>New York State Dormitory Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tennessee Energy Acquisition Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Charleston County School District</name>
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          <isin value="US160075ZC41"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-05-12</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Michigan Finance Authority</name>
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          <isin value="US59447PH204"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Territory of Guam</name>
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          <isin value="US40065HDU14"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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          <isin value="US837033KL25"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-05-01</maturityDt>
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      <invstOrSec>
        <name>Virginia Small Business Financing Authority</name>
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          <maturityDt>2037-01-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>Chesterfield County School District</name>
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        <name>Red River Education Finance Corp.</name>
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          <maturityDt>2046-10-01</maturityDt>
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        <name>Maryland Economic Development Corp.</name>
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        <name>Florence Public Facilities Corp.</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <name>South Carolina Transportation Infrastructure Bank</name>
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        <name>Toll Road Investors Partnership II LP</name>
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        <name>Charleston County Airport District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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          <isin value="US83712DP267"/>
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          <maturityDt>2052-01-01</maturityDt>
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      <invstOrSec>
        <name>Puerto Rico Convention Center District Authority</name>
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          <isin value="US745266BC95"/>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sumter Two School Facilities, Inc.</name>
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          <isin value="US866613BE14"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <title>South Carolina Jobs-Economic Development Authority</title>
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          <isin value="US837031UD33"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
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          <isin value="US59261AA495"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Town of Mount Pleasant SC</name>
        <lei>N/A</lei>
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          <isin value="US622634FS73"/>
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        <valUSD>1235530.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>South Carolina Jobs-Economic Development Authority</name>
        <lei>5493006X47I9VG3DL112</lei>
        <title>South Carolina Jobs-Economic Development Authority</title>
        <cusip>837031YY3</cusip>
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          <isin value="US837031YY34"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
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          <isin value="US79467BCR42"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Dallas-Fort Worth International Airport</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Guam Government Waterworks Authority</name>
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          <isin value="US40065FCG72"/>
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        <invCountry>GU</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Commonwealth Financing Authority</name>
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          <isin value="US20282EAP16"/>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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          <isin value="US837033KU24"/>
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        <name>Charleston County Park &amp; Recreation Commission</name>
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        <name>Virginia Small Business Financing Authority</name>
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        <name>Florence Public Facilities Corp.</name>
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        <name>County of Charleston SC</name>
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      <invstOrSec>
        <name>Railsplitter Tobacco Settlement Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>Illinois Sports Facilities Authority (The)</name>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Jersey Economic Development Authority</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>New Jersey Economic Development Authority</title>
        <cusip>64577BSZ8</cusip>
        <identifiers>
          <isin value="US64577BSZ84"/>
        </identifiers>
        <balance>230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>275413.50000000</valUSD>
        <pctVal>0.096663488509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>University of South Carolina</name>
        <lei>N/A</lei>
        <title>University of South Carolina</title>
        <cusip>914857EG8</cusip>
        <identifiers>
          <isin value="US914857EG87"/>
        </identifiers>
        <balance>575000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>694485.00000000</valUSD>
        <pctVal>0.243747466329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>South Carolina Transportation Infrastructure Bank</name>
        <lei>N/A</lei>
        <title>South Carolina Transportation Infrastructure Bank</title>
        <cusip>837152UR6</cusip>
        <identifiers>
          <isin value="US837152UR63"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2497940.00000000</valUSD>
        <pctVal>0.876716626050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>South Carolina Jobs-Economic Development Authority</name>
        <lei>5493006X47I9VG3DL112</lei>
        <title>South Carolina Jobs-Economic Development Authority</title>
        <cusip>83703FJV5</cusip>
        <identifiers>
          <isin value="US83703FJV58"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>565480.00000000</valUSD>
        <pctVal>0.198469826216</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>South Carolina Jobs-Economic Development Authority</name>
        <lei>5493006X47I9VG3DL112</lei>
        <title>South Carolina Jobs-Economic Development Authority</title>
        <cusip>837033KM0</cusip>
        <identifiers>
          <isin value="US837033KM08"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250280.00000000</valUSD>
        <pctVal>0.087842236870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</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>South Carolina State Housing Finance &amp; Development Authority</name>
        <lei>N/A</lei>
        <title>South Carolina State Housing Finance &amp; Development Authority</title>
        <cusip>83712DK70</cusip>
        <identifiers>
          <isin value="US83712DK706"/>
        </identifiers>
        <balance>2940000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3358891.20000000</valUSD>
        <pctVal>1.178889709173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Buckeye Tobacco Settlement Financing Authority</name>
        <lei>N/A</lei>
        <title>Buckeye Tobacco Settlement Financing Authority</title>
        <cusip>118217DA3</cusip>
        <identifiers>
          <isin value="US118217DA38"/>
        </identifiers>
        <balance>3020000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>459764.80000000</valUSD>
        <pctVal>0.161366343560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="All applicable monthly total returns are reported excluding any sales loads or redemption fees for Item B.5." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2021-02-01</ncom:dateSigned>
      <ncom:nameOfApplicant>MFS Municipal Series Trust</ncom:nameOfApplicant>
      <ncom:signature>Kasey Phillips</ncom:signature>
      <ncom:signerName>Kasey Phillips</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
