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        <name>Allentown Commercial and Industrial Development Authority</name>
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          <isin value="US01843AAB26"/>
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          <maturityDt>2038-06-15</maturityDt>
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        <name>Allentown Neighborhood Improvement Zone Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Arizona Industrial Development Authority</name>
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          <isin value="US04052BSW53"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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          <isin value="US04052BTB08"/>
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          <maturityDt>2033-07-01</maturityDt>
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          <annualizedRt>4.43000000</annualizedRt>
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        <name>Arizona Industrial Development Authority</name>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>Arkansas Development Finance Authority</name>
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          <maturityDt>2067-10-15</maturityDt>
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        <title>Arkansas Development Finance Authority</title>
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        <name>Arkansas Development Finance Authority</name>
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        <name>Arlington Higher Education Finance Corp.</name>
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        <name>Atlanta Development Authority (The)</name>
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          <maturityDt>2034-04-01</maturityDt>
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        <name>Atlanta Urban Residential Finance Authority</name>
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          <isin value="US04785VBX10"/>
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        <valUSD>188168.06000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
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      <invstOrSec>
        <name>Atlanta Urban Residential Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US04785WAA09"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Austin Convention Enterprises, Inc.</name>
        <lei>N/A</lei>
        <title>Austin Convention Enterprises, Inc.</title>
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          <isin value="US052409DL00"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Austin Convention Enterprises, Inc.</name>
        <lei>N/A</lei>
        <title>Austin Convention Enterprises, Inc.</title>
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          <isin value="US052409DN65"/>
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        <curCd>USD</curCd>
        <valUSD>221770.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Austin Convention Enterprises, Inc.</name>
        <lei>N/A</lei>
        <title>Austin Convention Enterprises, Inc.</title>
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          <isin value="US052409EA36"/>
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        <curCd>USD</curCd>
        <valUSD>95000.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Austin Convention Enterprises, Inc.</name>
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        <title>Austin Convention Enterprises, Inc.</title>
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          <isin value="US052409EC91"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75441.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Baldwin County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Baldwin County Industrial Development Authority, Series 2025A</title>
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        <identifiers>
          <isin value="US05786PAA12"/>
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        <balance>465000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>474053.88000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
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          <annualizedRt>5.00000040</annualizedRt>
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      <invstOrSec>
        <name>Baldwin County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Baldwin County Industrial Development Authority, Series 2025 B</title>
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          <isin value="US05786PAB94"/>
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        <balance>135000.00000000</balance>
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        <valUSD>135586.43000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.62499920</annualizedRt>
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      <invstOrSec>
        <name>City of Baltimore MD</name>
        <lei>N/A</lei>
        <title>City of Baltimore</title>
        <cusip>05922KK57</cusip>
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          <isin value="US05922KK578"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>457676.19000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <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>Village of Bellwood IL</name>
        <lei>N/A</lei>
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        <cusip>080031AD9</cusip>
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          <isin value="US080031AD91"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>794200.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Berks County Municipal Authority (The)</name>
        <lei>N/A</lei>
        <title>Berks County Municipal Authority (The), Series 2024 A-1A</title>
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          <isin value="US084538JD01"/>
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        <valUSD>126334.29000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-30</maturityDt>
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          <annualizedRt>8.00000000</annualizedRt>
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        <name>Berks County Municipal Authority (The)</name>
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          <isin value="US084538JF58"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Berks County Municipal Authority (The)</name>
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          <isin value="US084538JH15"/>
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        <balance>800000.00000000</balance>
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        <name>Berks County Municipal Authority (The)</name>
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          <isin value="US084538JK44"/>
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          <maturityDt>2044-06-30</maturityDt>
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      <invstOrSec>
        <name>Alabama Special Care Facilities Financing Authority-Birmingham AL</name>
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          <maturityDt>2043-06-01</maturityDt>
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        <name>Black Belt Energy Gas District</name>
        <lei>549300I8V0Z68JQCB679</lei>
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          <isin value="US09182NBR08"/>
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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>2051-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Black Belt Energy Gas District</name>
        <lei>549300I8V0Z68JQCB679</lei>
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          <isin value="US09182NCB47"/>
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      <invstOrSec>
        <name>Black Belt Energy Gas District</name>
        <lei>549300I8V0Z68JQCB679</lei>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Brazos Higher Education Authority, Inc.</name>
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          <isin value="US10623ACL52"/>
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        <name>Brazos Higher Education Authority, Inc.</name>
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        <name>Brazos Higher Education Authority, Inc.</name>
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          <isin value="US10623ACS06"/>
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        <name>Village of Bridgeview IL</name>
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        <name>Bromley Park Metropolitan District No. 3</name>
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        <name>Build NYC Resource Corp.</name>
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        <name>Build NYC Resource Corp.</name>
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        <name>Build NYC Resource Corp.</name>
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        <name>Development Authority of Burke County (The)</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>California Community Choice Financing Authority</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Capital Trust Authority</name>
        <lei>N/A</lei>
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          <isin value="US14054WBT18"/>
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      <invstOrSec>
        <name>Carthage Independent School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>City of Celina TX</name>
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      <invstOrSec>
        <name>Central Valley Energy Authority</name>
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        <name>Chandler Industrial Development Authority</name>
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          <isin value="US158862CB65"/>
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        <name>Charleston County Airport District</name>
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      <invstOrSec>
        <name>Charleston Housing Authority/SC</name>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>Charlotte County Industrial Development Authority/FL</name>
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        <name>Chattanooga Health Educational &amp; Housing Facility Board</name>
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        <name>Chesapeake Economic Development Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-01</maturityDt>
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        <name>Chester County Health and Education Facilities Authority</name>
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        <name>Chester County Health and Education Facilities Authority</name>
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        <name>Chester County Industrial Development Authority</name>
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        <name>City of Chicago IL</name>
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        <name>Chicago Board of Education</name>
        <lei>54930099NR6T9V7LVB43</lei>
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        <name>Chicago Board of Education</name>
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        <name>Chicago Board of Education</name>
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        <name>Chicago Board of Education</name>
        <lei>54930099NR6T9V7LVB43</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>Columbus Metropolitan Housing Authority</name>
        <lei>N/A</lei>
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          <isin value="US19951AAU07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Columbus Regional Airport Authority</name>
        <lei>N/A</lei>
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          <isin value="US199546CR16"/>
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        <curCd>USD</curCd>
        <valUSD>230649.29000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Commonwealth Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US20282EAS54"/>
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        <invCountry>US</invCountry>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Connecticut State Higher Education Supplement Loan Authority</name>
        <lei>N/A</lei>
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          <isin value="US207743XG57"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
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          <isin value="US20774YV796"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Connecticut Housing Finance Authority</name>
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          <isin value="US20775HXT57"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-11-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Cook County Community College District No. 508</name>
        <lei>N/A</lei>
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        <cusip>213187ED5</cusip>
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          <isin value="US213187ED54"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1081953.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cumberland County Municipal Authority</name>
        <lei>N/A</lei>
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        <cusip>230614TY5</cusip>
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          <isin value="US230614TY59"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1016212.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>City of Dallas Housing Finance Corp.</name>
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        <title>City of Dallas Housing Finance Corp.</title>
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          <isin value="US235298BR68"/>
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        <curCd>USD</curCd>
        <valUSD>145015.09000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>City of Dallas TX</name>
        <lei>N/A</lei>
        <title>City of Dallas, Series 2023</title>
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          <isin value="US235380AB82"/>
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        <balance>100000.00000000</balance>
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        <valUSD>100055.22000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-08-15</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>DeKalb County Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US240463KA65"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-06-01</maturityDt>
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        <name>DeKalb County Housing Authority</name>
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          <isin value="US240471PE66"/>
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          <maturityDt>2034-03-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Decatur Housing Authority</name>
        <lei>N/A</lei>
        <title>Decatur Housing Authority, Series 2025</title>
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          <isin value="US24311PAE88"/>
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        <balance>426000.00000000</balance>
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          <maturityDt>2028-08-01</maturityDt>
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      <invstOrSec>
        <name>Delaware State Economic Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US246387SY10"/>
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        <name>Delaware State Housing Authority</name>
        <lei>N/A</lei>
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        <name>Delaware State Housing Authority</name>
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        <name>Delaware Valley Regional Finance Authority</name>
        <lei>549300HGYP3NW885TT18</lei>
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        <cusip>246579JK3</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-06-01</maturityDt>
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      <invstOrSec>
        <name>Denver City &amp; County Housing Authority</name>
        <lei>N/A</lei>
        <title>Denver City &amp; County Housing Authority, Series 2025A</title>
        <cusip>24917QBP8</cusip>
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          <isin value="US24917QBP81"/>
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        <balance>60000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>Dowdell Public Utility District/TX</name>
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        <name>Downtown Revitalization Public Infrastructure District</name>
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        <name>Dutchess County Local Development Corp.</name>
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        <name>EP Cimarron Ventanas PFC</name>
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        <name>EHOVE Joint Vocational School District</name>
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        <name>EHOVE Joint Vocational School District</name>
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        <name>Energy Southeast A Cooperative District</name>
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        <name>EP Royal Estates PFC</name>
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        <name>EP Essential Housing WF PFC</name>
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          <maturityDt>2034-12-01</maturityDt>
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        <name>City of Erie Higher Education Building Authority</name>
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        <name>Erie Sewer Authority</name>
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        <name>Everett Housing Authority/WA</name>
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        <name>FW Chaparral PFC</name>
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        <name>FW Ramble Public Facility Corp.</name>
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        <name>City of Farmington NM</name>
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        <name>FHLMC Multifamily ML Certificates</name>
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        <name>FHLMC Structured Pass-Through Certificates</name>
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        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
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        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
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        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
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        <name>Florida Higher Educational Facilities Financing Authority</name>
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        <name>Florida Housing Finance Corp.</name>
        <lei>549300W0PCIJCI0JCF10</lei>
        <title>Florida Housing Finance Corp., Series 2023 B</title>
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        <name>City of Forsyth MT</name>
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        <name>Fort Loramie Local School District</name>
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        <name>City of Fort Worth TX</name>
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        <name>Gahanna-Jefferson City School District</name>
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        <name>Gahanna-Jefferson City School District</name>
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        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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        <name>City of Garden City KS</name>
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        <name>Gary Chicago International Airport Authority</name>
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        <name>Genesee County Funding Corp. (The)</name>
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        <name>Municipal Gas Authority of Georgia</name>
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        <name>Grand Parkway Transportation Corp.</name>
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        <name>Greater Asheville Regional Airport Authority</name>
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        <name>Greater Asheville Regional Airport Authority</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Greater Orlando Aviation Authority</name>
        <lei>549300CP6PUG5S184F61</lei>
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          <isin value="US3922745F94"/>
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        <balance>1005000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1006351.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Guam Government Waterworks Authority</name>
        <lei>N/A</lei>
        <title>Guam Government Waterworks Authority</title>
        <cusip>40065FCH5</cusip>
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          <isin value="US40065FCH55"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>300139.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Guam Government Waterworks Authority</name>
        <lei>N/A</lei>
        <title>Guam Government Waterworks Authority</title>
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          <isin value="US40065FDE16"/>
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        <balance>380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>385402.42000000</valUSD>
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        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Territory of Guam</name>
        <lei>N/A</lei>
        <title>Territory of Guam</title>
        <cusip>40065HDU1</cusip>
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          <isin value="US40065HDU14"/>
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        <curCd>USD</curCd>
        <valUSD>60629.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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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>176323.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <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>Territory of Guam</name>
        <lei>N/A</lei>
        <title>Territory of Guam</title>
        <cusip>40065NCR6</cusip>
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          <isin value="US40065NCR61"/>
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        <curCd>USD</curCd>
        <valUSD>28924.76000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>GU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gunnison County Housing Authority</name>
        <lei>N/A</lei>
        <title>Gunnison County Housing Authority, Series 2025</title>
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          <isin value="US402884AJ99"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1126294.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Hamilton OH</name>
        <lei>549300TO1E3N4E4YIO28</lei>
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          <isin value="US40727RCJ59"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>793877.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hanover Area School District</name>
        <lei>N/A</lei>
        <title>Hanover Area School District, Series 2026</title>
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          <isin value="US411147NZ07"/>
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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>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hanover Area School District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Hawaii Airports System Revenue</name>
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        <title>State of Hawaii Airports System, Series 2025C</title>
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          <isin value="US419794L346"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Horace ND</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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        <name>City of Houston TX Airport System Revenue</name>
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          <maturityDt>2034-07-01</maturityDt>
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        <name>City of Houston TX Airport System Revenue</name>
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          <isin value="US442349GP58"/>
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          <maturityDt>2038-07-01</maturityDt>
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      <invstOrSec>
        <name>City of Houston TX Airport System Revenue</name>
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          <isin value="US442349HU35"/>
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        <name>City of Houston TX Airport System Revenue</name>
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          <isin value="US442349HY56"/>
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          <maturityDt>2038-07-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Idaho Health Facilities Authority</name>
        <lei>549300X43KY1C2WW0J97</lei>
        <title>Idaho Health Facilities Authority, Series 2025 C</title>
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          <isin value="US451295H697"/>
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        <balance>480000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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        <name>Indiana Finance Authority</name>
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        <name>Indiana Finance Authority</name>
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          <isin value="US45471FAD33"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Indiana Secondary Market for Education Loans, Inc.</name>
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          <isin value="US45505NAH70"/>
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          <maturityDt>2031-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-06-01</maturityDt>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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          <isin value="US45506ENE94"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Indiana Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-01</maturityDt>
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          <annualizedRt>4.30000000</annualizedRt>
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        <name>Indiana Finance Authority</name>
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        <name>Indiana Finance Authority</name>
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          <maturityDt>2032-05-15</maturityDt>
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          <maturityDt>2038-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Infirmary Health System Special Care Facilities Financing Authority of Mobile</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
        <lei>549300FO1LWVSZKGJK70</lei>
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        <lei>549300FO1LWVSZKGJK70</lei>
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        <name>Iowa Student Loan Liquidity Corp.</name>
        <lei>549300FO1LWVSZKGJK70</lei>
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        <name>Jacksonville Housing Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Jacksonville Public Educational Building Authority</name>
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        <name>County of Jefferson AL Sewer Revenue</name>
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      <invstOrSec>
        <name>City of Kalispell MT</name>
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        <name>Kansas Development Finance Authority</name>
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          <isin value="US48542XAC56"/>
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      <invstOrSec>
        <name>Kentucky Higher Education Student Loan Corp.</name>
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        <name>King County Housing Authority</name>
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        <name>Klickitat County Public Utility District No. 1</name>
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        <name>Knox County Health Educational &amp; Housing Facility Board</name>
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        <name>Las Varas Public Facility Corp.</name>
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        <name>City of Lavon TX</name>
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        <name>County of Lee FL Airport Revenue</name>
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      <invstOrSec>
        <name>Lee County Industrial Development Authority/FL</name>
        <lei>N/A</lei>
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          <isin value="US52349EER71"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lee County Industrial Development Authority/FL</name>
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          <isin value="US52349EES54"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lehigh County General Purpose Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Port of Los Angeles</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles Housing Authority</name>
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          <isin value="US544562CQ21"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles Housing Authority</name>
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        <name>Los Angeles County Development Authority</name>
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        <name>Louisa Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Love Field Airport Modernization Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MFS Institutional Money Market Portfolio</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Main Street Natural Gas, Inc.</name>
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          <isin value="US56035DEE85"/>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <title>Main Street Natural Gas, Inc., Series 2025 A</title>
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        <name>Finance Authority of Maine</name>
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        <name>Finance Authority of Maine</name>
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        <name>Maine Health &amp; Higher Educational Facilities Authority</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Michigan State Housing Development Authority</name>
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        <name>Michigan State Hospital Finance Authority</name>
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        <name>Michigan State Housing Development Authority</name>
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          <isin value="US59465PEV67"/>
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        <name>Michigan Strategic Fund</name>
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          <isin value="US59468PAA30"/>
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        <name>Michigan Strategic Fund</name>
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          <isin value="US594698QR67"/>
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        <name>Michigan Strategic Fund</name>
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        <curCd>USD</curCd>
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          <annualizedRt>3.87500000</annualizedRt>
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        <name>Middle-Income Housing Authority</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Middleton Community Development District A</name>
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        <balance>105000.00000000</balance>
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        <valUSD>104946.58000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-05-01</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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        <name>Minnesota Office of Higher Education</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-01</maturityDt>
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        <name>Mirabelle Metropolitan District No. 2</name>
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        <name>Mission Economic Development Corp.</name>
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        <name>Mississippi Development Bank</name>
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        <name>Mississippi Home Corp.</name>
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        <name>Missouri Development Finance Board</name>
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        <name>Missouri Development Finance Board</name>
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        <name>Missouri Housing Development Commission</name>
        <lei>5493007FBL7WCV3NKY25</lei>
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        <name>Monroe County Industrial Development Corp.</name>
        <lei>N/A</lei>
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          <maturityDt>2040-11-01</maturityDt>
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          <annualizedRt>4.84000000</annualizedRt>
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        <name>New York City Housing Development Corp.</name>
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        <name>New York State Environmental Facilities Corp.</name>
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          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp., Series 2023</title>
        <cusip>650116GT7</cusip>
        <identifiers>
          <isin value="US650116GT79"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>786429.68000000</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>2041-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Norman Regional Hospital Authority</name>
        <lei>N/A</lei>
        <title>Norman Regional Hospital Authority</title>
        <cusip>656178DN7</cusip>
        <identifiers>
          <isin value="US656178DN70"/>
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        <balance>355000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>242943.36000000</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>2037-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>North Carolina Housing Finance Agency</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
        <title>North Carolina Housing Finance Agency</title>
        <cusip>658207C52</cusip>
        <identifiers>
          <isin value="US658207C520"/>
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        <balance>780000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>692972.90000000</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>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Series 2024 A</title>
        <cusip>65820YSV9</cusip>
        <identifiers>
          <isin value="US65820YSV91"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>522792.50000000</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>2039-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Series 2024B-1</title>
        <cusip>65820YSZ0</cusip>
        <identifiers>
          <isin value="US65820YSZ06"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>65027.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Series 2024 A</title>
        <cusip>65820YTM8</cusip>
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          <isin value="US65820YTM83"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>950535.36000000</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>2034-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Series 2025</title>
        <cusip>65820YUG9</cusip>
        <identifiers>
          <isin value="US65820YUG96"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>261811.43000000</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>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Series 2025</title>
        <cusip>65820YUH7</cusip>
        <identifiers>
          <isin value="US65820YUH79"/>
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        <balance>330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>347519.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Series 2025</title>
        <cusip>65820YUZ7</cusip>
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          <isin value="US65820YUZ77"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>519714.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Series 2025A</title>
        <cusip>65820YVD5</cusip>
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          <isin value="US65820YVD56"/>
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        <balance>535000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>548367.62000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Series 2026 A</title>
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          <isin value="US65820YVL72"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1547076.30000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Series 2021 A</title>
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          <isin value="US65821DYA35"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>128806.49000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Series 2021 A</title>
        <cusip>65821DYC9</cusip>
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          <isin value="US65821DYC90"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-03-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>North Carolina State Education Assistance Authority</name>
        <lei>N/A</lei>
        <title>North Carolina State Education Assistance Authority, Series 2025A</title>
        <cusip>658262HC7</cusip>
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          <isin value="US658262HC72"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>North Carolina Turnpike Authority</name>
        <lei>549300FCT1PN0GJGQ240</lei>
        <title>North Carolina Turnpike Authority</title>
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          <isin value="US65830VAH33"/>
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        <curCd>USD</curCd>
        <valUSD>549967.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Texas Higher Education Authority, Inc.</name>
        <lei>N/A</lei>
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        <cusip>66286UAK5</cusip>
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          <isin value="US66286UAK51"/>
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        <curCd>USD</curCd>
        <valUSD>428542.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Texas Municipal Water District Water System Revenue</name>
        <lei>N/A</lei>
        <title>North Texas Municipal Water District Water System, Series 2025</title>
        <cusip>662903J87</cusip>
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          <isin value="US662903J879"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1071421.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northeastern Illinois University</name>
        <lei>N/A</lei>
        <title>Northeastern Illinois University</title>
        <cusip>66442RDL8</cusip>
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          <isin value="US66442RDL87"/>
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      <invstOrSec>
        <name>Oregon State Facilities Authority</name>
        <lei>N/A</lei>
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          <isin value="US68607MAA36"/>
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        <curCd>USD</curCd>
        <valUSD>454272.34000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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      <invstOrSec>
        <name>County of Owen KY</name>
        <lei>N/A</lei>
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          <isin value="US69068WAD56"/>
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        <curCd>USD</curCd>
        <valUSD>280678.94000000</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>2040-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pacific County Public Healthcare Services District No. 3</name>
        <lei>N/A</lei>
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          <isin value="US694133CU10"/>
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        <curCd>USD</curCd>
        <valUSD>552374.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Palm Beach FL Airport System Revenue</name>
        <lei>N/A</lei>
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          <isin value="US696499FS63"/>
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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>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>County of Palm Beach FL Airport System Revenue</name>
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          <isin value="US696499FT47"/>
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        <curCd>USD</curCd>
        <valUSD>535563.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>County of Palm Beach FL Airport System Revenue</name>
        <lei>N/A</lei>
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          <isin value="US696499FU10"/>
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        <curCd>USD</curCd>
        <valUSD>530657.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>Palm Beach County Health Facilities Authority</name>
        <lei>N/A</lei>
        <title>Palm Beach County Health Facilities Authority</title>
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          <isin value="US696507VG42"/>
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        <curCd>USD</curCd>
        <valUSD>229962.33000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Palm Beach County Health Facilities Authority</name>
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        <title>Palm Beach County Health Facilities Authority</title>
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          <isin value="US696507VH25"/>
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        <curCd>USD</curCd>
        <valUSD>750462.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Palm Beach County Health Facilities Authority</name>
        <lei>N/A</lei>
        <title>Palm Beach County Health Facilities Authority</title>
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          <isin value="US69651ABT07"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Palm Beach County Health Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-01</maturityDt>
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        <name>County of Palm Beach FL</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Park Creek Metropolitan District</name>
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        <name>Parkdale Community Authority</name>
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          <isin value="US700890AP17"/>
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        <name>County of Pasco FL</name>
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        <invCountry>US</invCountry>
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        <name>Pasco Local Improvement District</name>
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        <name>Passaic County Improvement Authority (The)</name>
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      <invstOrSec>
        <name>Patriots Energy Group Financing Agency</name>
        <lei>5493008X0DFBVFH4HL19</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Pawtucket RI</name>
        <lei>N/A</lei>
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          <isin value="US7041655B18"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>Savannah Georgia Convention Center Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Shelby County Health Educational &amp; Housing Facilities Board</name>
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          <isin value="US82169JAP84"/>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Shreveport LA Water &amp; Sewer Revenue</name>
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        <name>Sierra Vista Industrial Development Authority</name>
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        <name>Southeast Alabama Gas Supply District (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-01</maturityDt>
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        <name>Southeast Energy Authority A Cooperative District</name>
        <lei>25490090A3RLJHITY273</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Sparks Tourism Improvement District No. 1</name>
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      <invstOrSec>
        <name>Steel Valley School District</name>
        <lei>549300BYA5FSMYFPGP34</lei>
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          <isin value="US858151MR11"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Steel Valley School District</name>
        <lei>549300BYA5FSMYFPGP34</lei>
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          <isin value="US858151MS93"/>
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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>2040-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sterling Ranch Community Authority Board</name>
        <lei>N/A</lei>
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          <isin value="US85950NBW92"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Tazewell County School District No. 52 Washington</name>
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          <isin value="US877690EH60"/>
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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>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Tempe Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Tempe Industrial Development Authority</title>
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          <isin value="US87972MBK71"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tempe Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Tempe Industrial Development Authority</title>
        <cusip>87972MBX9</cusip>
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          <isin value="US87972MBX92"/>
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        <curCd>USD</curCd>
        <valUSD>1002903.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tennergy Corp.</name>
        <lei>5493008K3JJFBSC4C235</lei>
        <title>Tennergy Corp.</title>
        <cusip>880397CF9</cusip>
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          <isin value="US880397CF98"/>
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        <balance>685000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>734744.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000080</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tennessee Energy Acquisition Corp.</name>
        <lei>549300OJ2Z8PGEY46K92</lei>
        <title>Tennessee Energy Acquisition Corp.</title>
        <cusip>880443EE2</cusip>
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          <isin value="US880443EE26"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80797.27000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tennessee Energy Acquisition Corp.</name>
        <lei>549300OJ2Z8PGEY46K92</lei>
        <title>Tennessee Energy Acquisition Corp.</title>
        <cusip>880443JF4</cusip>
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          <isin value="US880443JF46"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000040</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tennessee Energy Acquisition Corp.</name>
        <lei>549300OJ2Z8PGEY46K92</lei>
        <title>Tennessee Energy Acquisition Corp., Series 2025A</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tennessee Housing Development Agency</name>
        <lei>25490004PSQYQLFJGI76</lei>
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          <isin value="US880461XD54"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Texas Municipal Power Agency</name>
        <lei>N/A</lei>
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          <isin value="US882555C785"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>Texas Municipal Gas Acquisition &amp; Supply Corp. VI</name>
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          <isin value="US88256FAK84"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-01</maturityDt>
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        <name>Texas Municipal Gas Acquisition &amp; Supply Corp. IV</name>
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          <isin value="US88256PAT75"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Texas Private Activity Bond Surface Transportation Corp.</name>
        <lei>N/A</lei>
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          <isin value="US882667CG13"/>
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        <invCountry>US</invCountry>
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        <name>Texas Private Activity Bond Surface Transportation Corp.</name>
        <lei>N/A</lei>
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          <isin value="US882667CJ51"/>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2040-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Texas Department of Housing &amp; Community Affairs</name>
        <lei>549300J3RRLLZZN4WP77</lei>
        <title>Texas Department of Housing &amp; Community Affairs, Series 2025A</title>
        <cusip>882750D33</cusip>
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          <isin value="US882750D335"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-01</maturityDt>
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      <invstOrSec>
        <name>Texas Public Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>8827568B8</cusip>
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          <isin value="US8827568B80"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
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        <lei>N/A</lei>
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          <isin value="US88277PAE51"/>
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      <invstOrSec>
        <name>Texas Public Finance Authority</name>
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          <isin value="US88277PAV76"/>
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      <invstOrSec>
        <name>Toll Road Investors Partnership II LP</name>
        <lei>N/A</lei>
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          <isin value="US88948ABD81"/>
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        <curCd>USD</curCd>
        <valUSD>433112.66000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Toll Road Investors Partnership II LP</name>
        <lei>N/A</lei>
        <title>Toll Road Investors Partnership II LP</title>
        <cusip>88948ABM8</cusip>
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          <isin value="US88948ABM80"/>
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        <curCd>USD</curCd>
        <valUSD>75589.73000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Topeka KS</name>
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          <isin value="US890585BR21"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Travis County Housing Finance Corp.</name>
        <lei>N/A</lei>
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          <isin value="US89438UBM99"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>County of Trimble KY</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-01</maturityDt>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.70000160</annualizedRt>
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      <invstOrSec>
        <name>Tulsa County Home Finance Authority</name>
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          <isin value="US899517JU14"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Tulsa Municipal Airport Trust Trustees/OK</name>
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        <name>Utah Housing Corp.</name>
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        <name>Utah Housing Corp.</name>
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        <name>Utah Charter School Finance Authority</name>
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        <name>Vancouver Housing Authority</name>
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        <name>Vancouver Housing Authority</name>
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        <name>City of Venice FL</name>
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      <invstOrSec>
        <name>Vermont Student Assistance Corp.</name>
        <lei>549300VHYVRSKNFRSZ91</lei>
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          <isin value="US92428CMV36"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Vermont Student Assistance Corp.</name>
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        <name>Village Community Development District No. 15</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Village Community Development District No. 15</name>
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          <isin value="US92708KAF49"/>
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      <invstOrSec>
        <name>Virginia Beach Development Authority</name>
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          <isin value="US92774NAL47"/>
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          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Virginia Beach Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US92774NBF69"/>
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        <valUSD>758575.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Virginia Small Business Financing Authority</name>
        <lei>N/A</lei>
        <title>Virginia Small Business Financing Authority</title>
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          <isin value="US928103AG59"/>
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          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Virginia Small Business Financing Authority</name>
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          <isin value="US928104PZ58"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Waco Independent School District</name>
        <lei>N/A</lei>
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          <isin value="US929845VT92"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-15</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Waco Independent School District</name>
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          <isin value="US929845VU65"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-15</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>County of Warren OH</name>
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        <name>Washington Higher Education Facilities Authority</name>
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        <name>Washington State Housing Finance Commission</name>
        <lei>549300YL1HU59NREG764</lei>
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        <name>Washington Health Care Facilities Authority</name>
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        <name>Washington State Housing Finance Commission</name>
        <lei>549300YL1HU59NREG764</lei>
        <title>Washington State Housing Finance Commission, Series MTEBS 2024</title>
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        <name>County of Washoe NV</name>
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        <name>Wayne County Airport Authority</name>
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          <maturityDt>2035-12-01</maturityDt>
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        <name>Wayne County Airport Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Wayne County Airport Authority</name>
        <lei>N/A</lei>
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          <isin value="US944514X867"/>
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      <invstOrSec>
        <name>West Central Ohio Port Authority</name>
        <lei>N/A</lei>
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          <isin value="US95184BAB99"/>
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          <maturityDt>2040-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>West Virginia Economic Development Authority</name>
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          <isin value="US95648VBK44"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Variable</couponKind>
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          <isin value="US95648VBV09"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-15</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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        <name>Westchester County Industrial Development Agency</name>
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          <isin value="US95737QAG73"/>
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        <balance>589603.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-06-01</maturityDt>
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      <invstOrSec>
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        <lei>N/A</lei>
        <title>Westmoreland County Industrial Development Authority</title>
        <cusip>961008RR2</cusip>
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          <isin value="US961008RR21"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>498375.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Whiting IN</name>
        <lei>N/A</lei>
        <title>City of Whiting</title>
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          <isin value="US96634RAW25"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>786953.85000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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      <invstOrSec>
        <name>William Penn School District Authority</name>
        <lei>N/A</lei>
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        <cusip>969257BE3</cusip>
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          <isin value="US969257BE33"/>
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        <curCd>USD</curCd>
        <valUSD>235656.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Wisconsin Housing &amp; Economic Development Authority Home Ownership Revenue</name>
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          <isin value="US97689QWD41"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-03-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health &amp; Educational Facilities Authority, Series 2024 B</title>
        <cusip>97712JJA2</cusip>
        <identifiers>
          <isin value="US97712JJA25"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1101425.20000000</valUSD>
        <pctVal>0.304343203544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Variable</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>York County Economic Development Authority</name>
        <lei>N/A</lei>
        <title>York County Economic Development Authority</title>
        <cusip>98659AAC9</cusip>
        <identifiers>
          <isin value="US98659AAC99"/>
        </identifiers>
        <balance>610000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>617484.64000000</valUSD>
        <pctVal>0.170621893776</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.65000000</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>2026-01-30</ncom:dateSigned>
      <ncom:nameOfApplicant>MFS Municipal Series Trust</ncom:nameOfApplicant>
      <ncom:signature>James Byrne</ncom:signature>
      <ncom:signerName>James Byrne</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
