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      <invstOrSec>
        <name>City of Newberry SC</name>
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        <name>South Carolina Ports Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US6461366M81"/>
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          <maturityDt>2039-12-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Birmingham-Jefferson Civic Center Authority</name>
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        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Joint Municipal Water &amp; Sewer Commission</name>
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          <isin value="US529055CR41"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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          <isin value="US74529JRK33"/>
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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>2053-07-01</maturityDt>
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          <annualizedRt>4.53600000</annualizedRt>
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        <name>Center for Arts &amp; Health Sciences Public Facilities Corp.</name>
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          <isin value="US151391AQ24"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-01</maturityDt>
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        <name>City of Salt Lake City UT Airport Revenue</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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          <maturityDt>2031-07-01</maturityDt>
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        <name>County of Horry SC Airport Revenue</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>PR CONVENTION CTR AUTH CCDA S'22A</name>
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        <name>Dallas Fort Worth International Airport</name>
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        <name>City of Columbia SC Stormwater System Revenue</name>
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          <maturityDt>2038-02-01</maturityDt>
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        <name>Williamsburg County Public Facilities Corp.</name>
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          <isin value="US969544AT22"/>
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          <maturityDt>2027-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>New Jersey Building Authority</name>
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          <isin value="US645771ZN94"/>
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          <maturityDt>2029-06-15</maturityDt>
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        <name>Spartanburg Regional Health Services District</name>
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          <maturityDt>2037-04-15</maturityDt>
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        <name>South Carolina Transportation Infrastructure Bank</name>
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        <name>North Charleston Public Facilities Corp.</name>
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          <maturityDt>2029-07-01</maturityDt>
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        <name>Sales Tax Securitization Corp.</name>
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          <maturityDt>2030-01-01</maturityDt>
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        <name>Toll Road Investors Partnership II LP</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
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        <name>County of Berkeley SC</name>
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      <invstOrSec>
        <name>Charleston Educational Excellence Finance Corp.</name>
        <lei>N/A</lei>
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          <isin value="US160131DB16"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
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          <isin value="US64613CAR97"/>
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        <curCd>USD</curCd>
        <valUSD>115427.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
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        <title>New Jersey Transportation Trust Fund Authority</title>
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          <isin value="US64613CAT53"/>
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        <curCd>USD</curCd>
        <valUSD>108738.85000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>South Carolina Jobs-Economic Development Authority</name>
        <lei>5493006X47I9VG3DL112</lei>
        <title>South Carolina Jobs-Economic Development Authority</title>
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          <isin value="US837031A860"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>274672.18000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Central Plains Energy Project</name>
        <lei>SVQOT7V5CPLIGNP5BE29</lei>
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          <isin value="US154871BY26"/>
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        <balance>790000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>801040.88000000</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>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Chicago IL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>City of Chicago</title>
        <cusip>167486F87</cusip>
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          <isin value="US167486F873"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>114008.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Territory of Guam</name>
        <lei>N/A</lei>
        <title>Territory of Guam</title>
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          <isin value="US40065NCN57"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16915.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lexington County Health Services District, Inc.</name>
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          <isin value="US529050ES19"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1066155.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Dillon County School Facilities Corp.</name>
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        <title>Dillon County School Facilities Corp.</title>
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          <isin value="US25420CAJ18"/>
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        <balance>590000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</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>
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          <isin value="US83703EMR35"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Commonwealth of Puerto Rico</name>
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        <title>Commonwealth of Puerto Rico</title>
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        <balance>97904.00000000</balance>
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        <curCd>USD</curCd>
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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>2029-07-01</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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        <name>South Carolina Ports Authority</name>
        <lei>5493001YXW15H9J1M026</lei>
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        <balance>300000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-07-01</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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        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <maturityDt>2022-07-01</maturityDt>
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        <name>Spartanburg County School District No. 7</name>
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        <name>Charleston County Airport District</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
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        <name>Dillon County School Facilities Corp.</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Florence Public Facilities Corp.</name>
        <lei>N/A</lei>
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          <isin value="US340325AK53"/>
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          <maturityDt>2030-11-01</maturityDt>
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      <invstOrSec>
        <name>South Carolina Jobs-Economic Development Authority</name>
        <lei>5493006X47I9VG3DL112</lei>
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          <isin value="US83703FJN33"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Public Authority for Colorado Energy</name>
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          <isin value="US744387AC51"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-15</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>Territory of Guam</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Salt Lake City UT Airport Revenue</name>
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          <isin value="US795576JH19"/>
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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>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Piedmont Municipal Power Agency</name>
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          <isin value="US720175ZA92"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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          <isin value="US83712DU531"/>
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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>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Salt Lake City UT Airport Revenue</name>
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          <isin value="US795576JK48"/>
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        <balance>580000.00000000</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>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
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        <title>Sales Tax Securitization Corp.</title>
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          <isin value="US79467BCZ67"/>
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        <balance>45000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Guam Power Authority</name>
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        <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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        <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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        <invCountry>PR</invCountry>

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          <maturityDt>2025-07-01</maturityDt>
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        <name>Village of Bridgeview IL</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>City of Newberry SC</name>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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        <invCountry>PR</invCountry>

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        <name>Commonwealth of Puerto Rico</name>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>Colorado Health Facilities Authority</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <balance>120000.00000000</balance>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US20282EAQ98"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Williamsburg County Public Facilities Corp.</name>
        <lei>N/A</lei>
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          <isin value="US969544AV77"/>
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        <curCd>USD</curCd>
        <valUSD>591476.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QN574"/>
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        <curCd>USD</curCd>
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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>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Sales Tax Securitization Corp.</title>
        <cusip>79467BCX1</cusip>
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          <isin value="US79467BCX10"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Spartanburg Regional Health Services District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
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          <isin value="US79467BCY92"/>
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          <maturityDt>2038-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>State of Illinois</name>
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          <maturityDt>2031-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Aiken County Consolidated School District SC</name>
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        <name>Spartanburg Regional Health Services District</name>
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        <name>Guam Power Authority</name>
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        <name>City of Columbia SC Waterworks &amp; Sewer System Revenue</name>
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        <name>North Texas Education Finance Corp.</name>
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      <invstOrSec>
        <name>Tennessee Housing Development Agency</name>
        <lei>N/A</lei>
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          <isin value="US880461YM45"/>
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        <name>City of Chicago IL</name>
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        <name>County of Lancaster SC</name>
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          <maturityDt>2039-03-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
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        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
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        <name>State of South Carolina</name>
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        <name>Piedmont Municipal Power Agency</name>
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        <name>Tennessee Energy Acquisition Corp.</name>
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          <maturityDt>2022-09-01</maturityDt>
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        <name>Sumter Two School Facilities, Inc.</name>
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          <maturityDt>2027-12-01</maturityDt>
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        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>City of Newberry SC</name>
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        <name>Doylestown Hospital Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Lugoff-Elgin Water Authority SC</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>Greenwood Fifty Schools Facilities, Inc.</name>
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        <name>County Square Redevelopment Corp.</name>
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      <invstOrSec>
        <name>City of Columbia SC Waterworks &amp; Sewer System Revenue</name>
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      <invstOrSec>
        <name>Lugoff-Elgin Water Authority SC</name>
        <lei>N/A</lei>
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        <name>Puerto Rico Electric Power Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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      <invstOrSec>
        <name>County Square Redevelopment Corp.</name>
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          <isin value="US22259PAM86"/>
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          <maturityDt>2033-04-01</maturityDt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-01</maturityDt>
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        <name>Patriots Energy Group</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>City of Spartanburg SC Water System Revenue</name>
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        <name>New Jersey Economic Development Authority</name>
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          <maturityDt>2032-06-15</maturityDt>
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        <name>Charleston County Park &amp; Recreation Commission</name>
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          <maturityDt>2023-02-01</maturityDt>
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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>Spartanburg Regional Health Services District</name>
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        <name>Charleston County Park &amp; Recreation Commission</name>
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        <name>North Charleston Public Facilities Corp.</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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          <isin value="US20282EAN67"/>
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        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QT365"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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          <isin value="US837031VF71"/>
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          <maturityDt>2035-04-01</maturityDt>
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        <name>SCAGO Educational Facilities Corp. for Pickens School District</name>
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          <maturityDt>2028-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QR955"/>
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        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <maturityDt>2034-07-01</maturityDt>
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          <maturityDt>2050-12-01</maturityDt>
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        <name>Knox County Health Educational &amp; Housing Facility Board</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>Sales Tax Securitization Corp.</name>
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        <name>County Square Redevelopment Corp.</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>New Jersey Economic Development Authority</name>
        <lei>5493006JS6QWDVU4R678</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
        <lei>N/A</lei>
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          <isin value="US79467BCS25"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Charleston County Airport District</name>
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          <isin value="US160070EA27"/>
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        <name>South Carolina Transportation Infrastructure Bank</name>
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          <isin value="US837152VM67"/>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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          <isin value="US837033KR94"/>
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      <invstOrSec>
        <name>South Carolina Public Service Authority</name>
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          <isin value="US837151YR45"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Patriots Energy Group</name>
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          <isin value="US70338JBZ66"/>
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          <maturityDt>2035-06-01</maturityDt>
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        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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        <name>New Jersey Economic Development Authority</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>Michigan Finance Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>New Jersey Economic Development Authority</name>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
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      <invstOrSec>
        <name>Lexington County Health Services District, Inc.</name>
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        <name>City of Newberry SC</name>
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          <maturityDt>2022-09-01</maturityDt>
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        <name>Downey Unified School District</name>
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        <name>Lexington County Health Services District, Inc.</name>
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          <maturityDt>2028-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>South Carolina Transportation Infrastructure Bank</name>
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        <name>State of Illinois</name>
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          <maturityDt>2029-03-01</maturityDt>
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        <name>County Square Redevelopment Corp.</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>South Carolina Jobs-Economic Development Authority</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>Public Finance Authority</name>
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      <invstOrSec>
        <name>Williamsburg County Public Facilities Corp.</name>
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      <invstOrSec>
        <name>Territory of Guam</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Jersey Economic Development Authority</name>
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          <isin value="US64577XCS36"/>
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          <maturityDt>2041-06-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Greenwood SC</name>
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          <isin value="US397090GN57"/>
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          <maturityDt>2036-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
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        <title>Sales Tax Securitization Corp.</title>
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          <isin value="US79467BCW37"/>
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          <maturityDt>2036-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>South Carolina Public Service Authority</name>
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          <isin value="US837151YS28"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2039-12-01</maturityDt>
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          <annualizedRt>4.00000000</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="US83703FKV30"/>
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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>County of Charleston SC</name>
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          <isin value="US160069XA35"/>
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          <maturityDt>2026-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>University of South Carolina</name>
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          <maturityDt>2041-05-01</maturityDt>
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        <name>South Carolina Ports Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
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        <name>Michigan Finance Authority</name>
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          <maturityDt>2032-07-01</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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        <invCountry>PR</invCountry>

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          <maturityDt>2058-07-01</maturityDt>
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        <name>Guam Government Waterworks Authority</name>
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        <name>South Carolina State Housing Finance &amp; Development 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>Spartanburg Regional Health Services District</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <invCountry>AR</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Joint Municipal Water &amp; Sewer Commission</name>
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          <isin value="US529055CQ67"/>
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      <invstOrSec>
        <name>College of Charleston</name>
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        <debtSec>
          <maturityDt>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lexington County School District No. 1 SC</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2023-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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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="US64613CAS70"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-15</maturityDt>
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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>
        <lei>N/A</lei>
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          <isin value="US74529JQC26"/>
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        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Commonwealth of Puerto Rico</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>District of Columbia</name>
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        <name>County Square Redevelopment Corp.</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <name>Spartanburg Sanitary Sewer 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>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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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
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          <isin value="US74529JRH04"/>
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        <curCd>USD</curCd>
        <valUSD>465513.35000000</valUSD>
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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>4.32900000</annualizedRt>
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      <invstOrSec>
        <name>Guam Government Waterworks Authority</name>
        <lei>N/A</lei>
        <title>Guam Government Waterworks Authority</title>
        <cusip>40065FCH5</cusip>
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          <isin value="US40065FCH55"/>
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        <curCd>USD</curCd>
        <valUSD>442368.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <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="US847113CK10"/>
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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>2037-04-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
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          <isin value="US64613CAV00"/>
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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>2037-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Allegheny County Hospital Development Authority</name>
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          <isin value="US01728A3Z77"/>
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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>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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          <isin value="US745190ZN12"/>
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        <curCd>USD</curCd>
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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>2031-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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          <isin value="US74526QV338"/>
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        <curCd>USD</curCd>
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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>2042-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>N/A</lei>
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          <isin value="US74529JPX71"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QR203"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Grand Strand Water &amp; Sewer Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Charleston County Airport District</name>
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        <name>County of Greenville SC</name>
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        <name>Wayne County Airport Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Patriots Energy Group</name>
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        <invCountry>US</invCountry>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-07-01</maturityDt>
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        <name>Michigan Finance Authority</name>
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        <name>Sumter Two School Facilities, Inc.</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <name>State Public School Building Authority</name>
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        <name>Tennessee Energy Acquisition Corp.</name>
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        <name>Spartanburg Regional Health Services District</name>
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        <name>Illinois Sports Facilities Authority (The)</name>
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        <curCd>USD</curCd>
        <valUSD>1031250.30000000</valUSD>
        <pctVal>0.368297972202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</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>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>252876.88000000</valUSD>
        <pctVal>0.090311772147</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>653181.26000000</valUSD>
        <pctVal>0.233275407084</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>State of South Carolina</name>
        <lei>N/A</lei>
        <title>State of South Carolina</title>
        <cusip>83710RYD3</cusip>
        <identifiers>
          <isin value="US83710RYD33"/>
        </identifiers>
        <balance>850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1034941.56000000</valUSD>
        <pctVal>0.369616258919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-01</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>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
        <cusip>64613CAN8</cusip>
        <identifiers>
          <isin value="US64613CAN83"/>
        </identifiers>
        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79890.16000000</valUSD>
        <pctVal>0.028531757931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3P0</cusip>
        <identifiers>
          <isin value="US74514L3P07"/>
        </identifiers>
        <balance>349365.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>328643.53000000</valUSD>
        <pctVal>0.117370870754</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</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>South Carolina Transportation Infrastructure Bank</name>
        <lei>549300YI1NMCP4VLJN43</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>2256225.00000000</valUSD>
        <pctVal>0.805782158154</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>533540.80000000</valUSD>
        <pctVal>0.190547333394</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>235765.88000000</valUSD>
        <pctVal>0.084200795401</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>Richland County School District No. 1/SC</name>
        <lei>N/A</lei>
        <title>Richland County School District No. 1</title>
        <cusip>763665YV2</cusip>
        <identifiers>
          <isin value="US763665YV20"/>
        </identifiers>
        <balance>1850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1959037.52000000</valUSD>
        <pctVal>0.699645416911</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-01</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 State Housing Finance &amp; Development Authority</name>
        <lei>N/A</lei>
        <title>South Carolina State Housing Finance &amp; Development Authority</title>
        <cusip>83712DQ41</cusip>
        <identifiers>
          <isin value="US83712DQ414"/>
        </identifiers>
        <balance>520000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>585201.34000000</valUSD>
        <pctVal>0.208997240390</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-01</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>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3Q8</cusip>
        <identifiers>
          <isin value="US74514L3Q89"/>
        </identifiers>
        <balance>46385.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>42326.11000000</valUSD>
        <pctVal>0.015116233647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</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>
      <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>2710000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2816220.35000000</valUSD>
        <pctVal>1.005777398735</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>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3J4</cusip>
        <identifiers>
          <isin value="US74514L3J47"/>
        </identifiers>
        <balance>95093.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>108311.02000000</valUSD>
        <pctVal>0.038681907809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</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>449201.44000000</valUSD>
        <pctVal>0.160426600081</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>2022-05-02</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>
</edgarSubmission>
