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        <name>Northern Illinois University</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
        <name>City of Chicago IL</name>
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          <maturityDt>2033-01-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>University of Arkansas</name>
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          <isin value="US9140726F58"/>
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          <maturityDt>2030-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Commonwealth of Puerto Rico</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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        <name>University of Arkansas</name>
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          <isin value="US9140723V36"/>
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          <maturityDt>2033-09-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Massachusetts Development Finance Agency</name>
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          <isin value="US57584YL648"/>
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          <maturityDt>2051-07-01</maturityDt>
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        <name>Bentonville School District No. 6</name>
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          <maturityDt>2046-06-01</maturityDt>
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          <annualizedRt>2.25000000</annualizedRt>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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          <isin value="US462590MS69"/>
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          <maturityDt>2039-12-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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          <maturityDt>2029-07-01</maturityDt>
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        <name>Bentonville School District No. 6</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>Michigan Finance Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>Northern Illinois University</name>
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        <name>Arkansas Development Finance Authority Public Safety Charges Revenue</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Guam Power Authority</name>
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        <fairValLevel>2</fairValLevel>
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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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        <name>Bentonville School District No. 6</name>
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        <name>Salem Public Water Authority</name>
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        <name>Reading School District</name>
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          <isin value="US755638ZF37"/>
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          <maturityDt>2036-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Batesville Public Facilities Board</name>
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          <isin value="US070668AG32"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-06-01</maturityDt>
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        <name>Tennessee Energy Acquisition Corp.</name>
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          <maturityDt>2022-09-01</maturityDt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <fairValLevel>2</fairValLevel>
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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>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>Arkansas Development Finance Authority</name>
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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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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Texas Private Activity Bond Surface Transportation Corp.</name>
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          <isin value="US882667AH14"/>
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      <invstOrSec>
        <name>University of Central Arkansas</name>
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          <isin value="US914115N308"/>
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      <invstOrSec>
        <name>City of Cabot AR Sales &amp; Use Tax Revenue</name>
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          <isin value="US127028DA38"/>
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      <invstOrSec>
        <name>Maryland Community Development Administration</name>
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          <isin value="US57419R5N15"/>
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      <invstOrSec>
        <name>University of Central Arkansas</name>
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          <isin value="US914115M987"/>
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        <name>University of Arkansas</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Arkansas State University Mid-South</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Arkansas Development Finance Authority Public Safety Charges Revenue</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <invCountry>PR</invCountry>

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        <name>Wayne County Airport Authority</name>
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          <maturityDt>2044-12-01</maturityDt>
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        <name>University of Arkansas</name>
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        <name>Public Finance Authority</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>North Carolina Turnpike Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Texas Private Activity Bond Surface Transportation Corp.</name>
        <lei>N/A</lei>
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          <isin value="US882667AG31"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Maryland Stadium Authority</name>
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          <isin value="US574296DQ95"/>
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        <valUSD>433154.07000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QL594"/>
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        <curCd>USD</curCd>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Hot Springs AR Wastewater Revenue</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-12-01</maturityDt>
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          <annualizedRt>2.75000000</annualizedRt>
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        <name>Port Beaumont Navigation District</name>
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          <maturityDt>2050-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Territory of Guam</name>
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        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Fayetteville AR</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Arkansas State University</name>
        <lei>N/A</lei>
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          <isin value="US041186R744"/>
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          <maturityDt>2027-03-01</maturityDt>
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        <name>Michigan Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Arkansas State University</name>
        <lei>N/A</lei>
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          <isin value="US0411862N64"/>
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          <maturityDt>2031-03-01</maturityDt>
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          <annualizedRt>4.50000000</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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          <maturityDt>2050-01-01</maturityDt>
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      <invstOrSec>
        <name>Arkansas State University Mid-South</name>
        <lei>N/A</lei>
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          <isin value="US22674UFE73"/>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <invCountry>PR</invCountry>

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        <name>Wayne County Airport Authority</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2044-12-01</maturityDt>
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        <name>North Little Rock School District No. 1</name>
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        <name>Conway Health Facilities Board</name>
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          <isin value="US04108VBW37"/>
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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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        <name>Puerto Rico Sales Tax Financing Corp.</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>Orangeburg County Facilities Corp.</name>
        <lei>N/A</lei>
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          <couponKind>Fixed</couponKind>
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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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          <maturityDt>2046-07-01</maturityDt>
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        <name>Commonwealth of Puerto Rico</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <name>PR COMWLTH INFRASTRUC S'22A</name>
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          <isin value="US69358WAD48"/>
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        <name>University of Arkansas</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <name>Massachusetts Bay Transportation Authority Sales Tax Revenue</name>
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        <name>City of Benton AR Municipal Light &amp; Water Works</name>
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        <name>Guam Government Waterworks Authority</name>
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        <name>District of Columbia</name>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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        <name>Arkansas Development Finance Authority</name>
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          <isin value="US040849FZ96"/>
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      <invstOrSec>
        <name>Benton School District No. 8</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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          <isin value="US74529JPX71"/>
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        <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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        <name>City of Springdale AR Sales &amp; Use Tax Revenue</name>
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          <maturityDt>2023-05-01</maturityDt>
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        <name>Wayne County Airport Authority</name>
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          <isin value="US944514RR16"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2039-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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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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        <name>Arkansas Development Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US04109FBW77"/>
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        <name>Puerto Rico Electric Power Authority</name>
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          <maturityDt>2021-07-01</maturityDt>
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        <name>Michigan Finance Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Red River Education Finance Corp.</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Conway AR Sales &amp; Use Tax Revenue</name>
        <lei>N/A</lei>
        <title>City of Conway</title>
        <cusip>212595DE9</cusip>
        <identifiers>
          <isin value="US212595DE94"/>
        </identifiers>
        <balance>850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>874958.81000000</valUSD>
        <pctVal>0.512346419161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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 Arkansas</name>
        <lei>549300FFADBQ3NEI2D96</lei>
        <title>University of Arkansas</title>
        <cusip>914072RT2</cusip>
        <identifiers>
          <isin value="US914072RT29"/>
        </identifiers>
        <balance>780000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>815501.93000000</valUSD>
        <pctVal>0.477530472154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</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>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>Puerto Rico Electric Power Authority</title>
        <cusip>74526QX49</cusip>
        <identifiers>
          <isin value="US74526QX490"/>
        </identifiers>
        <balance>95000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90725.00000000</valUSD>
        <pctVal>0.053125505277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2018-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>Y</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>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>164919.71000000</valUSD>
        <pctVal>0.096571429308</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>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3P0</cusip>
        <identifiers>
          <isin value="US74514L3P07"/>
        </identifiers>
        <balance>216442.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203604.44000000</valUSD>
        <pctVal>0.119223904676</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>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13049YCT6</cusip>
        <identifiers>
          <isin value="US13049YCT64"/>
        </identifiers>
        <balance>1130000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1246829.68000000</valUSD>
        <pctVal>0.730101479693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-15</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>74514L3Q8</cusip>
        <identifiers>
          <isin value="US74514L3Q89"/>
        </identifiers>
        <balance>30860.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28159.61000000</valUSD>
        <pctVal>0.016489319478</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>City of Chicago IL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>City of Chicago</title>
        <cusip>167486D71</cusip>
        <identifiers>
          <isin value="US167486D712"/>
        </identifiers>
        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89721.12000000</valUSD>
        <pctVal>0.052537666950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>63265.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72058.90000000</valUSD>
        <pctVal>0.042195265607</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>2010000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>298971.82000000</valUSD>
        <pctVal>0.175067831372</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>
