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        <name>DeKalb County Housing Authority</name>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Georgia Municipal Association, Inc.</name>
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        <name>Georgia Housing &amp; Finance Authority</name>
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          <maturityDt>2045-12-01</maturityDt>
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        <name>Augusta Development Authority</name>
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        <name>Municipal Electric Authority of Georgia</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of DeKalb GA Water &amp; Sewerage Revenue</name>
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        <name>Cherokee County Water &amp; Sewer Authority/GA</name>
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        <name>City of Cartersville GA Water &amp; Sewer Revenue</name>
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        <name>Village of Bridgeview IL</name>
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          <maturityDt>2036-12-01</maturityDt>
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        <name>Jefferson Public Building Authority</name>
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        <name>Henry County Water Authority</name>
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        <name>Georgia Housing &amp; Finance Authority</name>
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        <name>Georgia Housing &amp; Finance Authority</name>
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        <name>DeKalb County Housing Authority</name>
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      <invstOrSec>
        <name>Municipal Gas Authority of Georgia</name>
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      <invstOrSec>
        <name>City of Atlanta GA Department of Aviation</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>City of Brunswick MD</name>
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      <invstOrSec>
        <name>Development Authority of Cobb County (The)</name>
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          <isin value="US19078VFP85"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Savannah Hospital Authority</name>
        <lei>N/A</lei>
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          <isin value="US804833FD81"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Electric Power Authority</name>
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          <isin value="US74526YGW93"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Georgia Housing &amp; Finance Authority</name>
        <lei>549300I628IMF9PWV724</lei>
        <title>Georgia Housing &amp; Finance Authority</title>
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          <isin value="US37353PBM05"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Energy Southeast A Cooperative District</name>
        <lei>2549001SMMZ81MXBXZ89</lei>
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          <isin value="US292723AK96"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000080</annualizedRt>
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      <invstOrSec>
        <name>Rome Building Authority</name>
        <lei>N/A</lei>
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          <isin value="US776000AZ46"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1075460.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Savannah Georgia Convention Center Authority</name>
        <lei>N/A</lei>
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          <isin value="US804828AF81"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2061-06-01</maturityDt>
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        <name>Georgia Housing &amp; Finance Authority</name>
        <lei>549300I628IMF9PWV724</lei>
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          <maturityDt>2049-12-01</maturityDt>
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          <annualizedRt>4.60000000</annualizedRt>
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        <name>Carroll City-County Hospital Authority</name>
        <lei>N/A</lei>
        <title>Carroll City-County Hospital Authority</title>
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          <isin value="US144709MB52"/>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Doylestown Hospital Authority</name>
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          <isin value="US261333HE11"/>
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      <invstOrSec>
        <name>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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          <isin value="US167510AD88"/>
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        <balance>435000.00000000</balance>
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        <name>Maryland Community Development Administration</name>
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          <isin value="US57419TT681"/>
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          <maturityDt>2043-09-01</maturityDt>
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        <name>New Hampshire Business Finance Authority</name>
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          <isin value="US63607WAC82"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Miller County School District</name>
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        <title>Miller County School District, Series 2026</title>
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          <isin value="US600454BK78"/>
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        <balance>340000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <name>Development Authority for Fulton County</name>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp.</name>
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          <isin value="US38122ND823"/>
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        <name>City of Springfield GA Water and Sewer Fund</name>
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        <name>Virginia Small Business Financing Authority</name>
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        <name>Georgia Housing &amp; Finance Authority</name>
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        <name>Savannah Georgia Convention Center Authority</name>
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        <name>Georgia Higher Education Facilities Authority</name>
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        <name>Private Colleges &amp; Universities Authority</name>
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      <invstOrSec>
        <name>Savannah Georgia Convention Center Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Paulding County Hospital Authority/GA</name>
        <lei>N/A</lei>
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        <name>Maryland Economic Development Corp.</name>
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        <name>Albany-Dougherty County Hospital Authority</name>
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          <maturityDt>2044-09-01</maturityDt>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Atlanta GA Water &amp; Wastewater Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Savannah Economic Development Authority</name>
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        <name>Black Belt Energy Gas District</name>
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        <name>Atlanta Urban Residential Finance Authority</name>
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        <name>State of Illinois</name>
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        <name>Metropolitan Atlanta Rapid Transit Authority</name>
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        <name>Spalding County Water &amp; Sewer Facilities Authority</name>
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          <maturityDt>2056-06-01</maturityDt>
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        <name>Fayette County Development Authority</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <invCountry>PR</invCountry>

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      <invstOrSec>
        <name>City of Cartersville GA Water &amp; Sewer Revenue</name>
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        <name>Public Finance Authority</name>
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      <invstOrSec>
        <name>Maryland Health &amp; Higher Educational Facilities Authority</name>
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          <isin value="US57421CHU18"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Atlanta GA Department of Aviation</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-07-01</maturityDt>
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      <invstOrSec>
        <name>City of Atlanta GA Water &amp; Wastewater Revenue</name>
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          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Bibb County Development Authority</name>
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          <isin value="US08869FFR55"/>
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        <valUSD>563078.15000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Douglas County Housing Authority/GA</name>
        <lei>N/A</lei>
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          <isin value="US259028AH19"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-02-01</maturityDt>
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          <annualizedRt>5.10000000</annualizedRt>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
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        <cusip>650116HR0</cusip>
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          <isin value="US650116HR05"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-06-30</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Port Authority of New York &amp; New Jersey</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-07-15</maturityDt>
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        <name>Georgia Ports Authority</name>
        <lei>N/A</lei>
        <title>Georgia Ports Authority</title>
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          <isin value="US373586HV17"/>
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        <valUSD>956025.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Board of Water Light &amp; Sinking Fund Commissioners of The City of Dalton (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-01</maturityDt>
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        <name>Development Authority for Fulton County</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Finance Authority</name>
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          <maturityDt>2065-12-31</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>Chicago Board of Education</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
        <lei>N/A</lei>
        <title>Buckeye Tobacco Settlement Financing Authority</title>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Senoia Building &amp; Facilities Authority</name>
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          <maturityDt>2046-12-01</maturityDt>
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        <name>North Carolina Medical Care Commission</name>
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        <name>George L Smith II Congress Center Authority</name>
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        <title>George L Smith II Congress Center Authority</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2054-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Georgia Housing &amp; Finance Authority</name>
        <lei>549300I628IMF9PWV724</lei>
        <title>Georgia Housing &amp; Finance Authority, Series 2024 A</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2054-12-01</maturityDt>
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          <annualizedRt>4.70000000</annualizedRt>
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      <invstOrSec>
        <name>Clemson University</name>
        <lei>N/A</lei>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Lawrenceville Housing Authority</name>
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        <name>Georgia Housing &amp; Finance Authority</name>
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        <name>Atlanta Development Authority (The)</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Environmental Control Facilities Financing Authority</name>
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        <name>Urban Redevelopment Agency of Dacula</name>
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        <name>Columbia County Hospital Authority/GA</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Georgia Higher Education Facilities Authority</name>
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        <name>Macon Water Authority</name>
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        <name>Commerce School District</name>
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        <name>Virginia Small Business Financing Authority</name>
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        <name>Black Belt Energy Gas District</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Black Belt Energy Gas District</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>Private Colleges &amp; Universities Authority</name>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Energy Southeast A Cooperative District</name>
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        <name>Guam Government Waterworks Authority</name>
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        <name>Dalton Whitfield County Joint Development Authority</name>
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        <name>Rome Building Authority</name>
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        <name>Allegheny County Hospital Development Authority</name>
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        <name>Dahlonega Downtown Development Authority</name>
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        <name>Georgia Ports Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Columbia County Hospital Authority/GA</name>
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        <name>Atlanta Development Authority (The)</name>
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        <name>Private Colleges &amp; Universities Authority</name>
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        <name>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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        <name>Americus-Sumter Payroll Development Authority</name>
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        <name>Rockdale County Public Facilities Authority</name>
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        <name>Territory of Guam</name>
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        <name>Territory of Guam</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>City of Springfield GA Water and Sewer Fund</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fulton County Residential Care Facilities for the Elderly Authority</name>
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          <isin value="US360059AM10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Glynn-Brunswick Memorial Hospital Authority</name>
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      <invstOrSec>
        <name>Coweta County Water &amp; Sewage Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-01</maturityDt>
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        <name>Development Authority for Fulton County</name>
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          <isin value="US36005FPD14"/>
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        <name>Municipal Electric Authority of Georgia</name>
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      <invstOrSec>
        <name>Cobb-Marietta Coliseum &amp; Exhibit Hall Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-10-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Toll Road Investors Partnership II LP</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-02-15</maturityDt>
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      <invstOrSec>
        <name>Main Street Natural Gas, Inc.</name>
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          <isin value="US56035DKH43"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Commonwealth of Puerto Rico</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-01</maturityDt>
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        <name>Richmond County Hospital Authority</name>
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        <name>Classic Center Authority for Clarke County</name>
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        <name>City of Atlanta GA Department of Aviation</name>
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        <name>Development Authority of Gwinnett County</name>
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        <name>DeKalb County Development Authority</name>
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        <name>Main Street Energy, Inc.</name>
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      <invstOrSec>
        <name>Atlanta Urban Residential Finance Authority</name>
        <lei>N/A</lei>
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        <name>Development Authority of Cobb County (The)</name>
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        <name>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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        <name>Municipal Electric Authority of Georgia</name>
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        <name>New York State Dormitory Authority</name>
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        <name>Savannah Housing Authority</name>
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        <name>Minnesota Municipal Gas Agency</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>Matching Fund Special Purpose Securitization Corp.</name>
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        <name>Municipal Electric Authority of Georgia</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <name>City of Griffin GA Public Utility Revenue</name>
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        <name>Virgin Islands Hotel Development Financing Corp.</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>Miller County School District</name>
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          <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>Dalton Whitfield County Joint Development Authority</name>
        <lei>N/A</lei>
        <title>Dalton Whitfield County Joint Development Authority, Series 2024 B</title>
        <cusip>235641BF3</cusip>
        <identifiers>
          <isin value="US235641BF33"/>
        </identifiers>
        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>481400.42000000</valUSD>
        <pctVal>0.351395104231</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DeKalb County Housing Authority</name>
        <lei>N/A</lei>
        <title>DeKalb County Housing Authority, Series 2024</title>
        <cusip>240471PE6</cusip>
        <identifiers>
          <isin value="US240471PE66"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1002808.10000000</valUSD>
        <pctVal>0.731993247582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Roswell GA</name>
        <lei>N/A</lei>
        <title>City of Roswell</title>
        <cusip>778535GM0</cusip>
        <identifiers>
          <isin value="US778535GM03"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>493387.75000000</valUSD>
        <pctVal>0.360145177766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority</title>
        <cusip>13013JCM6</cusip>
        <identifiers>
          <isin value="US13013JCM62"/>
        </identifiers>
        <balance>585000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>619467.44000000</valUSD>
        <pctVal>0.452176227114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.24999880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3P0</cusip>
        <identifiers>
          <isin value="US74514L3P07"/>
        </identifiers>
        <balance>171495.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>157086.42000000</valUSD>
        <pctVal>0.114664210158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New York Liberty Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Liberty Development Corp.</title>
        <cusip>649519DA0</cusip>
        <identifiers>
          <isin value="US649519DA03"/>
        </identifiers>
        <balance>280000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>280275.60000000</valUSD>
        <pctVal>0.204585350539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Upper Oconee Basin Water Authority</name>
        <lei>N/A</lei>
        <title>Upper Oconee Basin Water Authority, Series 2024</title>
        <cusip>916281DH8</cusip>
        <identifiers>
          <isin value="US916281DH88"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1059085.30000000</valUSD>
        <pctVal>0.773072423541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>George L Smith II Congress Center Authority</name>
        <lei>N/A</lei>
        <title>George L Smith II Congress Center Authority, Series 2021B</title>
        <cusip>37255MAF2</cusip>
        <identifiers>
          <isin value="US37255MAF23"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>982907.00000000</valUSD>
        <pctVal>0.717466569129</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3T2</cusip>
        <identifiers>
          <isin value="US74514L3T29"/>
        </identifiers>
        <balance>178302.60000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>128154.99000000</valUSD>
        <pctVal>0.093545901079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3J4</cusip>
        <identifiers>
          <isin value="US74514L3J47"/>
        </identifiers>
        <balance>150816.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>164574.72000000</valUSD>
        <pctVal>0.120130246019</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="All applicable monthly total returns are reported excluding any sales loads or redemption fees for Item B.5." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-30</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>
