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      <invstOrSec>
        <name>City of Myrtle Beach SC</name>
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      <invstOrSec>
        <name>City of Columbia SC Stormwater System Revenue</name>
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          <maturityDt>2038-02-01</maturityDt>
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        <name>Port Beaumont Navigation District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-01-01</maturityDt>
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          <annualizedRt>2.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>New Jersey Building Authority</name>
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        <curCd>USD</curCd>
        <valUSD>37059.34000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>South Carolina Transportation Infrastructure Bank</name>
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        <curCd>USD</curCd>
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          <maturityDt>2037-10-01</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>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>North Charleston Public Facilities Corp.</name>
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        <name>South Carolina Ports Authority</name>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Toll Road Investors Partnership II LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <maturityDt>2049-11-01</maturityDt>
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        <name>Maryland Stadium Authority</name>
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        <name>Charleston Educational Excellence Finance Corp.</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>City of Chicago IL</name>
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      <invstOrSec>
        <name>Lexington County Health Services District, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-01</maturityDt>
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      <invstOrSec>
        <name>Dillon County School Facilities Corp.</name>
        <lei>N/A</lei>
        <title>Dillon County School Facilities Corp.</title>
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          <isin value="US25420CAJ18"/>
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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>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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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Commonwealth of Puerto Rico</name>
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          <isin value="US74514L3H80"/>
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        <curCd>USD</curCd>
        <valUSD>100135.57000000</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>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>South Carolina Ports Authority</name>
        <lei>5493001YXW15H9J1M026</lei>
        <title>South Carolina Ports Authority</title>
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          <isin value="US837123GB81"/>
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        <balance>300000.00000000</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>2028-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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          <isin value="US74529JQD09"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
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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>
        <debtSec>
          <maturityDt>2021-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp.</name>
        <lei>N/A</lei>
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          <isin value="US38122NB843"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-06-01</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Spartanburg County School District No. 7</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Charleston County Airport District</name>
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        <invCountry>US</invCountry>
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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="US6461367M72"/>
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          <maturityDt>2050-06-15</maturityDt>
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        <name>Dillon County School Facilities Corp.</name>
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        <name>Florence Public Facilities Corp.</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Public Authority for Colorado Energy</name>
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          <maturityDt>2028-11-15</maturityDt>
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        <name>Territory of Guam</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Guam Power Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Michigan Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
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      <invstOrSec>
        <name>Village of Bridgeview IL</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QXR81"/>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Commonwealth of Puerto Rico</name>
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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>2023-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>Colorado Health Facilities Authority</name>
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          <isin value="US19648FKA11"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <name>Orangeburg County School District</name>
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        <name>Sales Tax Securitization Corp.</name>
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        <name>Spartanburg Regional Health Services District</name>
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        <name>Sales Tax Securitization Corp.</name>
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        <name>State of Illinois</name>
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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>County of Greenville SC</name>
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        <name>County of Lancaster SC</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Piedmont Municipal Power Agency</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Sumter Two School Facilities, Inc.</name>
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        <name>Commonwealth of Puerto Rico</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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      <invstOrSec>
        <name>Lugoff-Elgin Water Authority SC</name>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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        <name>New Hampshire Business Finance Authority</name>
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          <isin value="US63607WAC82"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-09-20</maturityDt>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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          <isin value="US74529JQB43"/>
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          <maturityDt>2024-07-01</maturityDt>
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        <name>Patriots Energy Group</name>
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        <name>City of Spartanburg SC Water System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-01</maturityDt>
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        <name>Golden State Tobacco Securitization Corp.</name>
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          <isin value="US38122ND823"/>
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          <maturityDt>2050-06-01</maturityDt>
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        <name>Aiken County Consolidated School District SC</name>
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          <maturityDt>2041-06-01</maturityDt>
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        <name>Spartanburg Regional Health Services District</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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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-07-01</maturityDt>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-01</maturityDt>
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      <invstOrSec>
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          <isin value="US74526QPS56"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Public Finance Authority</name>
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          <isin value="US74446HAD17"/>
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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>2050-12-01</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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        <name>Knox County Health Educational &amp; Housing Facility Board</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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          <isin value="US83703FJK93"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Sales Tax Securitization Corp.</name>
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          <isin value="US79467BDA08"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Little Rock School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-02-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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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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        <name>Sales Tax Securitization Corp.</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>South Carolina Public Service Authority</name>
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      <invstOrSec>
        <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>Lexington County Health Services District, Inc.</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Lexington County Health Services District, Inc.</name>
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        <name>South Carolina Transportation Infrastructure Bank</name>
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        <name>South Carolina Public Service Authority</name>
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        <name>Sales Tax Securitization Corp.</name>
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        <name>South Carolina Public Service Authority</name>
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        <name>Spartanburg Regional Health Services District</name>
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      <invstOrSec>
        <name>Massachusetts Port Authority</name>
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          <isin value="US575896YK55"/>
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        <fairValLevel>2</fairValLevel>
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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>2032-07-01</maturityDt>
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          <annualizedRt>6.05000000</annualizedRt>
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        <name>Lexington County School District No. 1 SC</name>
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          <maturityDt>2023-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Territory of Guam</name>
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          <isin value="US40065HDT41"/>
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        <curCd>USD</curCd>
        <valUSD>170817.80000000</valUSD>
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        <invCountry>GU</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US83712DY756"/>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US6461367K17"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2045-06-15</maturityDt>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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          <isin value="US74529JQC26"/>
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        <invCountry>PR</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Commonwealth of Puerto Rico</name>
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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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        <name>District of Columbia</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Spartanburg Sanitary Sewer District</name>
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        <name>Dillon County School Facilities Corp.</name>
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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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        <name>Puerto Rico Electric Power 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>South Carolina Ports Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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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>2027-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Orangeburg County Facilities Corp.</name>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Town of Lexington SC Waterworks &amp; Sewer System Revenue</name>
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          <maturityDt>2041-06-01</maturityDt>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
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          <isin value="US79467BCT08"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Horry SC Airport Revenue</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2039-07-01</maturityDt>
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        <name>Commonwealth of Puerto Rico</name>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2037-07-01</maturityDt>
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        <name>Virginia Small Business Financing Authority</name>
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          <isin value="US928104NZ76"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>North Charleston Sewer District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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          <isin value="US74529JQG30"/>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Aiken County Consolidated School District SC</name>
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        <invCountry>US</invCountry>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>City of Chicago IL</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>Charleston County Airport District</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Guam Government Waterworks Authority</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Allegheny County Hospital Development Authority</name>
        <lei>54930046B973R604OG22</lei>
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        <invCountry>US</invCountry>
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        <name>Patriots Energy Group</name>
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        <name>Michigan Finance Authority</name>
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        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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        <name>Puerto Rico Electric Power Authority</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>South Carolina Jobs-Economic Development Authority</name>
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        <name>County of Horry SC</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
        <lei>5493006X47I9VG3DL112</lei>
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          <maturityDt>2032-03-15</maturityDt>
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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>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Florence Public Facilities Corp.</name>
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          <isin value="US340325AM10"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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          <isin value="US74526QA282"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>59400.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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          <isin value="US65000BNG94"/>
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        <balance>1405000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-05-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>State of Illinois</name>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>178812.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-05-01</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Town of Mount Pleasent SC Water &amp; Sewer Revenue</name>
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          <isin value="US622634FR90"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-01</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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          <isin value="US74526QKP62"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Colorado Health Facilities Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Metropolitan Pier &amp; Exposition Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-06-15</maturityDt>
          <couponKind>None</couponKind>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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          <maturityDt>2040-07-01</maturityDt>
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        <name>Matching Fund Special Purpose Securitization Corp.</name>
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          <isin value="US57665NAB10"/>
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        <invCountry>VI</invCountry>

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        <name>Puerto Rico Electric Power Authority</name>
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          <maturityDt>2018-07-01</maturityDt>
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        <name>City of Anderson SC Water &amp; Sewer Revenue</name>
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        <name>State Public School Building Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <invCountry>PR</invCountry>

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          <maturityDt>2053-07-01</maturityDt>
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        <name>Tennessee Energy Acquisition Corp.</name>
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        <invCountry>US</invCountry>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Port Authority of New York &amp; New Jersey</name>
        <lei>54930006MR4KZ4W74Z83</lei>
        <title>Port Authority of New York &amp; New Jersey</title>
        <cusip>73358W5S9</cusip>
        <identifiers>
          <isin value="US73358W5S93"/>
        </identifiers>
        <balance>1820000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1564840.55000000</valUSD>
        <pctVal>0.715761872719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-15</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>74514L3K1</cusip>
        <identifiers>
          <isin value="US74514L3K10"/>
        </identifiers>
        <balance>90173.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79298.24000000</valUSD>
        <pctVal>0.036271207801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</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>Illinois Sports Facilities Authority (The)</name>
        <lei>N/A</lei>
        <title>Illinois Sports Facilities Authority (The)</title>
        <cusip>452143FQ8</cusip>
        <identifiers>
          <isin value="US452143FQ89"/>
        </identifiers>
        <balance>1260000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1322526.49000000</valUSD>
        <pctVal>0.604926832451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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 Highway &amp; Transportation Authority</name>
        <lei>549300J6QBXVWJXB7Y41</lei>
        <title>Puerto Rico Highway &amp; Transportation Authority</title>
        <cusip>745181N52</cusip>
        <identifiers>
          <isin value="US745181N529"/>
        </identifiers>
        <balance>680000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>680258.47000000</valUSD>
        <pctVal>0.311151878330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</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>Spartanburg Sanitary Sewer District</name>
        <lei>549300FVRXYUI1JB6W32</lei>
        <title>Spartanburg Sanitary Sewer District</title>
        <cusip>847175KK1</cusip>
        <identifiers>
          <isin value="US847175KK15"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1007935.00000000</valUSD>
        <pctVal>0.461031919948</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>237691.32000000</valUSD>
        <pctVal>0.108720587750</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>600832.45000000</valUSD>
        <pctVal>0.274822223646</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>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>73259.18000000</valUSD>
        <pctVal>0.033508927072</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>261499.88000000</valUSD>
        <pctVal>0.119610680989</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>2098517.20000000</valUSD>
        <pctVal>0.959866870146</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>502196.20000000</valUSD>
        <pctVal>0.229705763047</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>New York Liberty Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Liberty Development Corp.</title>
        <cusip>649519DA0</cusip>
        <identifiers>
          <isin value="US649519DA03"/>
        </identifiers>
        <balance>575000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>514098.13000000</valUSD>
        <pctVal>0.235149734770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-15</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>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>202892.00000000</valUSD>
        <pctVal>0.092803294162</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>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3Q8</cusip>
        <identifiers>
          <isin value="US74514L3Q89"/>
        </identifiers>
        <balance>30109.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27674.02000000</valUSD>
        <pctVal>0.012658164041</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>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3J4</cusip>
        <identifiers>
          <isin value="US74514L3J47"/>
        </identifiers>
        <balance>330093.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>336530.61000000</valUSD>
        <pctVal>0.153929919339</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>
    </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>2022-10-31</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>
