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        <name>Mendocino-Lake Community College District</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>San Ysidro School District</name>
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        <name>Regents of the University of California Medical Center Pooled Revenue</name>
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        <name>Ontario Public Financing Authority</name>
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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>California Statewide Communities Development Authority</name>
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        <name>Napa Valley Unified School District</name>
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        <name>Sierra View Local Health Care District CA</name>
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        <name>Alvord Unified School District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US13048DCP15"/>
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        <name>California Community Choice Financing Authority</name>
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          <isin value="US13013JDD54"/>
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        <fairValLevel>2</fairValLevel>
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        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13078YNX93"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US13048RAN70"/>
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        <curCd>USD</curCd>
        <valUSD>4027144.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-01</maturityDt>
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          <annualizedRt>4.80000000</annualizedRt>
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      <invstOrSec>
        <name>Territory of Guam</name>
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          <isin value="US40065NCN57"/>
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        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cambria Community Services District Wastewater Revenue</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-09-01</maturityDt>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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          <isin value="US130591BG43"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sierra View Local Health Care District CA</name>
        <lei>N/A</lei>
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          <isin value="US82650PDG72"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>4.00000000</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>2029-07-01</maturityDt>
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        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
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        <name>California Municipal Finance Authority</name>
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          <isin value="US13048TS386"/>
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          <maturityDt>2042-02-01</maturityDt>
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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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        <name>River Islands Public Financing Authority</name>
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        <name>San Diego County Regional Airport Authority</name>
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        <name>California Enterprise Development Authority</name>
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          <isin value="US13069BAQ95"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2055-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Truckee-Donner Public Utility District Electric System Revenue</name>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Mountain View-Whisman School District</name>
        <lei>N/A</lei>
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        <name>Transbay Joint Powers Authority</name>
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      <invstOrSec>
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        <name>Guam Power Authority</name>
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        <name>Village of Bridgeview IL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>California School Finance Authority</name>
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        <name>Oakland Unified School District Alameda County</name>
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        <name>Guam Power Authority</name>
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        <name>Pittsburg Successor Agency Redevelopment Agency</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Imperial Community College District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Fresno Joint Powers Financing Authority</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>California Municipal Finance Authority</name>
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        <name>City of Victorville CA Electric Revenue</name>
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        <name>Puerto Rico Electric Power Authority</name>
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      <invstOrSec>
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          <isin value="US130179GU24"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-15</maturityDt>
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        <name>California Health Facilities Financing Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Santa Maria Bonita School District</name>
        <lei>N/A</lei>
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          <maturityDt>2042-08-01</maturityDt>
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        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526QUY69"/>
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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>5.37500000</annualizedRt>
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        <name>Doylestown Hospital Authority</name>
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          <maturityDt>2049-07-01</maturityDt>
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        <name>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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        <name>California Public Finance Authority</name>
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        <name>California School Finance Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Golden State Tobacco Securitization Corp.</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Abag Finance Authority for Nonprofit Corps.</name>
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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="US74526QZL93"/>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
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          <isin value="US79739GGN07"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US13058TSG66"/>
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        <curCd>USD</curCd>
        <valUSD>528470.51000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>San Rafael City Elementary School District</name>
        <lei>N/A</lei>
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          <isin value="US799306PH28"/>
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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>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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          <isin value="US13080SSE53"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-04-01</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>
        <title>Puerto Rico Electric Power Authority</title>
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          <isin value="US74526QKR29"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52000.00000000</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>2023-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Oakland CA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Santa Barbara CA</name>
        <lei>N/A</lei>
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          <isin value="US80136PCV31"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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          <isin value="US74526Q2V37"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54215.67000000</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>2034-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>California Housing Finance Agency</name>
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          <isin value="US13032WBA18"/>
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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>2038-08-01</maturityDt>
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        <name>Public Finance Authority</name>
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          <isin value="US74446HAD17"/>
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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>CMFA Special Finance Agency</name>
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          <isin value="US12574WAA80"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>California School Finance Authority</name>
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          <isin value="US13059TAR05"/>
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        <name>California Public Finance Authority</name>
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        <name>Lake Elsinore Public Financing Authority</name>
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        <name>California Municipal Finance Authority</name>
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          <maturityDt>2047-07-01</maturityDt>
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        <name>City of Dallas TX</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>Puerto Rico Electric Power Authority, Series WW</title>
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        <fairValLevel>2</fairValLevel>
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        <name>California School Finance Authority</name>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp.</name>
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          <isin value="US13048TVL42"/>
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          <maturityDt>2029-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>California Community Housing Agency</name>
        <lei>N/A</lei>
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          <isin value="US13013FAU84"/>
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        <invCountry>US</invCountry>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority</title>
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          <isin value="US13080SPM07"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lucia Mar Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US54947THN28"/>
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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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      <invstOrSec>
        <name>Department of Veterans Affairs Veteran's Farm &amp; Home Purchase Program</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Washington Township Health Care District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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        <name>Virginia Housing Development Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>San Joaquin Area Flood Control Agy Levee Construction &amp; Maintenance Assmnt Dist</name>
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        <name>California State University</name>
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        <name>Pajaro Valley Water Management Agency</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2053-03-01</maturityDt>
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        <name>Los Angeles County Development Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13080SYW87"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-04-01</maturityDt>
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        <name>Tennergy Corp.</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>Truckee-Donner Public Utility District Water System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-15</maturityDt>
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        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13080SWP54"/>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>South Monterey County Joint Union High School District</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>River Islands Public Financing Authority</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>City of Fresno CA Airport Revenue</name>
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        <name>California Pollution Control Financing Authority</name>
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        <name>California Educational Facilities Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13080SUZ54"/>
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          <isin value="US12574VAB80"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-01</maturityDt>
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      <invstOrSec>
        <name>Irvine Facilities Financing Authority</name>
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          <isin value="US46360WAY21"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority</title>
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          <isin value="US13078YPX75"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-09-02</maturityDt>
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        <name>Guam Government Waterworks Authority</name>
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        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Statewide Communities Development Authority</name>
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        <name>City &amp; County of San Francisco CA Special Tax District No. 2020-1</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Sierra Sands Unified School District</name>
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        <name>California Educational Facilities Authority</name>
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        <name>Minnesota Office of Higher Education</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>California School Finance Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>Texas Water Development Board</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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        <name>California School Finance Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California Public Finance Authority</name>
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        <name>California Pollution Control Financing Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>

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        <name>Ontario Public Financing Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>City of Long Beach CA Marina System Revenue</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Transbay Joint Powers Authority</name>
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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>California Pollution Control Financing Authority</name>
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          <maturityDt>2024-08-01</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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        <fairValLevel>2</fairValLevel>
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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>CSCDA Community Improvement Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>California School Finance Authority</name>
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        <name>City of Tulare CA Sewer Revenue</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California School Finance Authority</name>
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        <name>California School Finance Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Rancho Cucamonga Redevelopment Agency Successor Agency</name>
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        <name>California Statewide Communities Development Authority</name>
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        <balance>375000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>381558.94000000</valUSD>
        <pctVal>0.068767775515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</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>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13048VJE9</cusip>
        <identifiers>
          <isin value="US13048VJE92"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>467094.90000000</valUSD>
        <pctVal>0.084183788820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</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>California Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>California Educational Facilities Authority, Series 2023 A</title>
        <cusip>130179VJ0</cusip>
        <identifiers>
          <isin value="US130179VJ04"/>
        </identifiers>
        <balance>1840000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1938523.35000000</valUSD>
        <pctVal>0.349377054471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</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>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>San Francisco City &amp; County Airport Comm-San Francisco International Airport, Series 2023 C</title>
        <cusip>79766DVY2</cusip>
        <identifiers>
          <isin value="US79766DVY20"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5660705.00000000</valUSD>
        <pctVal>1.020220075827</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>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority</title>
        <cusip>13013JCM6</cusip>
        <identifiers>
          <isin value="US13013JCM62"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5289106.00000000</valUSD>
        <pctVal>0.953247364838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.24999880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13049YBF7</cusip>
        <identifiers>
          <isin value="US13049YBF79"/>
        </identifiers>
        <balance>2605000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2731640.25000000</valUSD>
        <pctVal>0.492319282313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City &amp; County of San Francisco CA Special Tax District No. 2020-1</name>
        <lei>N/A</lei>
        <title>City &amp; County of San Francisco</title>
        <cusip>79771HAF0</cusip>
        <identifiers>
          <isin value="US79771HAF01"/>
        </identifiers>
        <balance>1600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1364630.40000000</valUSD>
        <pctVal>0.245945218866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3P0</cusip>
        <identifiers>
          <isin value="US74514L3P07"/>
        </identifiers>
        <balance>765550.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>681853.72000000</valUSD>
        <pctVal>0.122889437609</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>North Lake Tahoe Public Financing Authority</name>
        <lei>N/A</lei>
        <title>North Lake Tahoe Public Financing Authority</title>
        <cusip>66038WBJ4</cusip>
        <identifiers>
          <isin value="US66038WBJ45"/>
        </identifiers>
        <balance>4425000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5015452.97000000</valUSD>
        <pctVal>0.903927303995</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</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>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority</title>
        <cusip>13032UYK8</cusip>
        <identifiers>
          <isin value="US13032UYK86"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1022766.40000000</valUSD>
        <pctVal>0.184331600774</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3Q8</cusip>
        <identifiers>
          <isin value="US74514L3Q89"/>
        </identifiers>
        <balance>35723.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35021.69000000</valUSD>
        <pctVal>0.006311904829</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>Ontario Public Financing Authority</name>
        <lei>N/A</lei>
        <title>Ontario Public Financing Authority</title>
        <cusip>68304RDD9</cusip>
        <identifiers>
          <isin value="US68304RDD98"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>353490.21000000</valUSD>
        <pctVal>0.063708991874</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>Lee Lake Public Financing Authority</name>
        <lei>N/A</lei>
        <title>Lee Lake Public Financing Authority</title>
        <cusip>523831AT2</cusip>
        <identifiers>
          <isin value="US523831AT29"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1001864.00000000</valUSD>
        <pctVal>0.180564393666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</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>City of Victorville CA Electric Revenue</name>
        <lei>N/A</lei>
        <title>City of Victorville</title>
        <cusip>92642CAP9</cusip>
        <identifiers>
          <isin value="US92642CAP95"/>
        </identifiers>
        <balance>725000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>843507.20000000</valUSD>
        <pctVal>0.152023993397</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</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>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3J4</cusip>
        <identifiers>
          <isin value="US74514L3J47"/>
        </identifiers>
        <balance>497583.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>553489.63000000</valUSD>
        <pctVal>0.099754576910</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>2024-01-30</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>
