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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Guam Government Waterworks Authority</name>
        <lei>N/A</lei>
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          <isin value="US40065FBQ63"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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          <isin value="US74526QPN69"/>
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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>
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          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Territory of Guam</name>
        <lei>N/A</lei>
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          <isin value="US40065HDV96"/>
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        <curCd>USD</curCd>
        <valUSD>100101.59000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Illinois</name>
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          <isin value="US452153AU36"/>
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        <curCd>USD</curCd>
        <valUSD>134684.51000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US6461366M81"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Development Authority for Fulton County</name>
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          <isin value="US36005FCS20"/>
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        <curCd>USD</curCd>
        <valUSD>467179.15000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cedartown Polk County Hospital Authority</name>
        <lei>N/A</lei>
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          <isin value="US150759AS79"/>
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        <curCd>USD</curCd>
        <valUSD>538192.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Development Authority for Fulton County</name>
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          <isin value="US36005GAW33"/>
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        <valUSD>760209.75000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Georgia Higher Education Facilities Authority</name>
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          <isin value="US373511JA36"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2036-06-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>Dalton Whitfield County Joint Development Authority</name>
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          <maturityDt>2048-08-15</maturityDt>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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          <maturityDt>2031-07-01</maturityDt>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <name>City of Atlanta GA Airport Passenger Facility Charge</name>
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        <name>State of Illinois</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2040-10-01</maturityDt>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Board of Water Light &amp; Sinking Fund Commissioners of The City of Dalton (The)</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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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. Sales Tax Revenue</name>
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          <maturityDt>2029-07-01</maturityDt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <maturityDt>2021-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>City of Buford GA Combined Utility System Revenue</name>
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          <maturityDt>2039-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>City of Atlanta GA Department of Aviation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Territory of Guam</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-01</maturityDt>
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        <name>Municipal Electric Authority of Georgia</name>
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        <name>Development Authority for Fulton County</name>
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        <name>Ben Hill County School District</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Albany-Dougherty Inner City Authority</name>
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        <name>Guam Power Authority</name>
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        <name>Michigan Finance Authority</name>
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        <name>Village of Bridgeview IL</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.14000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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          <isin value="US74526QXR81"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54937.50000000</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>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
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          <isin value="US74514L3E59"/>
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        <curCd>USD</curCd>
        <valUSD>557718.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority</title>
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          <isin value="US19648FKA11"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47413.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Delaware Valley Regional Finance Authority</name>
        <lei>549300HGYP3NW885TT18</lei>
        <title>Delaware Valley Regional Finance Authority</title>
        <cusip>246579JK3</cusip>
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          <isin value="US246579JK31"/>
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        <balance>460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>361804.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.93999980</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Atlanta GA Department of Aviation</name>
        <lei>N/A</lei>
        <title>City of Atlanta</title>
        <cusip>04780MZX0</cusip>
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          <isin value="US04780MZX00"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>950115.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Dalton GA</name>
        <lei>549300F2NIJXYBEBL710</lei>
        <title>City of Dalton</title>
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          <isin value="US235541DN65"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>543195.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Villa Rica Public Facilities Authority</name>
        <lei>N/A</lei>
        <title>Villa Rica Public Facilities Authority</title>
        <cusip>92704HBN7</cusip>
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          <isin value="US92704HBN70"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>518359.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Atlanta GA Department of Aviation</name>
        <lei>N/A</lei>
        <title>City of Atlanta GA Department of Aviation</title>
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          <isin value="US04780MVW62"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1022936.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Clarke County School District/GA</name>
        <lei>N/A</lei>
        <title>Clarke County School District</title>
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          <isin value="US181687ES93"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1060847.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Guam Power Authority</name>
        <lei>549300IPOV320QCKW060</lei>
        <title>Guam Power Authority</title>
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          <isin value="US400653HN40"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51376.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>HTA CL 6 Trust</name>
        <lei>N/A</lei>
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          <isin value="US40440SAJ15"/>
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        <balance>257231.00000000</balance>
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        <valUSD>253813.69000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>Connecticut Housing Finance Authority</name>
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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>2047-11-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>City of Brunswick MD</name>
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        <name>Savannah Hospital Authority</name>
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        <name>Georgia Housing &amp; Finance Authority</name>
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        <name>Development Authority for Fulton County</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>City of Columbus GA Water &amp; Sewerage Revenue</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2036-05-01</maturityDt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
        <lei>N/A</lei>
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        <name>New Hampshire Business Finance Authority</name>
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        <invCountry>PR</invCountry>

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          <maturityDt>2024-07-01</maturityDt>
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        <name>Golden State Tobacco Securitization Corp.</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-01</maturityDt>
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      <invstOrSec>
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        <name>Public Finance Authority</name>
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        <name>Gainesville &amp; Hall County Hospital Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Little Rock School District</name>
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          <isin value="US5374282N38"/>
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          <maturityDt>2048-02-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>County of Hart GA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <name>Bleckley County &amp; Dodge County Joint Development Authority</name>
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          <isin value="US093488AV66"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-01</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="US74526QVB57"/>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Classic Center Authority for Clarke County</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-05-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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        <name>Carrollton Payroll Development Authority</name>
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        <name>Michigan Finance Authority</name>
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        <name>Doylestown Hospital Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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      <invstOrSec>
        <name>Walton County Water &amp; Sewer Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Atlanta Development Authority (The)</name>
        <lei>N/A</lei>
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          <isin value="US04780NJG34"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Board of Water Light &amp; Sinking Fund Commissioners of The City of Dalton (The)</name>
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        <name>Development Authority for Fulton County</name>
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          <maturityDt>2049-07-01</maturityDt>
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        <name>Chicago Board of Education</name>
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          <isin value="US167505YC47"/>
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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>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US118217CZ97"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Texas Private Activity Bond Surface Transportation Corp.</name>
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        <title>Texas Private Activity Bond Surface Transportation Corp.</title>
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          <isin value="US882667AG31"/>
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        <invCountry>US</invCountry>
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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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          <isCashCollateral>N</isCashCollateral>
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        <name>Maryland Stadium Authority</name>
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          <maturityDt>2047-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>North Carolina Medical Care Commission</name>
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        <name>Territory of Guam</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-01</maturityDt>
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        <name>George L Smith II Congress Center Authority</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2054-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Clemson University</name>
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        <balance>1000000.00000000</balance>
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          <maturityDt>2048-05-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>City of Cartersville GA Water &amp; Sewer Revenue</name>
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        <balance>500000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2038-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Michigan Finance Authority</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>Development Authority of Bulloch County</name>
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        <name>Wayne County Airport Authority</name>
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        <invCountry>US</invCountry>
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        <name>Spartanburg Regional Health Services District</name>
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      <invstOrSec>
        <name>Minnesota Office of Higher Education</name>
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      <invstOrSec>
        <name>Massachusetts Port Authority</name>
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          <maturityDt>2051-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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        <curCd>USD</curCd>
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        <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>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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          <maturityDt>2031-10-01</maturityDt>
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      <invstOrSec>
        <name>Development Authority of Bulloch County</name>
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          <maturityDt>2038-07-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <name>Savannah Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-06-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Development Authority for Fulton County</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Georgia Housing &amp; Finance Authority</name>
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          <maturityDt>2041-10-01</maturityDt>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>Henry County Water Authority</name>
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          <maturityDt>2037-07-01</maturityDt>
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        <name>Virginia Small Business Financing Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Wayne County Airport Authority</name>
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      <invstOrSec>
        <name>Private Colleges &amp; Universities Authority</name>
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        <name>Michigan Finance Authority</name>
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          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Americus-Sumter Payroll Development Authority</name>
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          <maturityDt>2035-06-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>Territory of Guam</name>
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        <name>Fulton County Residential Care Facilities for the Elderly Authority</name>
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        <name>Glynn-Brunswick Memorial Hospital Authority</name>
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        <name>Development Authority for Fulton County</name>
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        <name>Wayne County Airport Authority</name>
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        <name>Toll Road Investors Partnership II LP</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Richmond County Hospital Authority</name>
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        <name>City of Atlanta</name>
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      <invstOrSec>
        <name>Metropolitan Atlanta Rapid Transit Authority</name>
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          <maturityDt>2044-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Development Authority of Gwinnett County</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Clarke County School District/GA</name>
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          <maturityDt>2027-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Guam Government Waterworks Authority</name>
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        <name>Metropolitan Atlanta Rapid Transit Authority</name>
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          <maturityDt>2040-07-01</maturityDt>
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        <name>City of Atlanta GA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Municipal Electric Authority of Georgia</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-07-01</maturityDt>
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        <name>New York State Dormitory Authority</name>
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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>Colorado Health Facilities Authority</name>
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        <name>City of Chicago IL</name>
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        <name>Metropolitan Pier &amp; Exposition Authority</name>
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        <debtSec>
          <maturityDt>2044-06-15</maturityDt>
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        <name>Atlanta &amp; Fulton County Recreation 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>2040-07-01</maturityDt>
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        <name>Matching Fund Special Purpose Securitization Corp.</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>VI</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Electric Power Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Richmond County Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Bainbridge GA Combined Utility Revenue</name>
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          <maturityDt>2041-12-01</maturityDt>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Gainesville &amp; Hall County Hospital Authority</name>
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          <maturityDt>2029-02-15</maturityDt>
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        <name>Private Colleges &amp; Universities Authority</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>Cobb County Kennestone Hospital Authority</name>
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        <name>New York Liberty Development Corp.</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <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>150816.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>155938.95000000</valUSD>
        <pctVal>0.153703152617</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>2023-01-30</ncom:dateSigned>
      <ncom:nameOfApplicant>MFS Municipal Series Trust</ncom:nameOfApplicant>
      <ncom:signature>Kasey Phillips</ncom:signature>
      <ncom:signerName>Kasey Phillips</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
