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        <name>Arizona Industrial Development Authority</name>
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      <invstOrSec>
        <name>Atlanta Development Authority (The)</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Belmond Reserve Community Development District</name>
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        <title>Belmond Reserve Community Development District, Series 2020</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <balance>2000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Belmont II Community Development District</name>
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          <isin value="US080382AF11"/>
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        <balance>325000.00000000</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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        <fairValLevel>2</fairValLevel>
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        <name>Berks County Municipal Authority (The)</name>
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          <isin value="US084538JD01"/>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Berry Bay Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Black Belt Energy Gas District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bradburn Metropolitan District No. 2</name>
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        <name>Bradbury Community Development District</name>
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        <name>Bridgewalk Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bridgewater North Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>Buckhead Trails Community Development District</name>
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        <name>Buckhead Trails Community Development District</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California Pollution Control Financing Authority</name>
        <lei>N/A</lei>
        <title>California Pollution Control Financing Authority, Series 2017</title>
        <cusip>130536RA5</cusip>
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          <isin value="US130536RA56"/>
          <other otherDesc="Inhouse Asset ID" value="667010"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Pollution Control Financing Authority</name>
        <lei>N/A</lei>
        <title>California Pollution Control Financing Authority, Series 2020</title>
        <cusip>130536RM9</cusip>
        <identifiers>
          <isin value="US130536RM94"/>
          <other otherDesc="Inhouse Asset ID" value="1114055"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>California Public Finance Authority, Series 2020</title>
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          <isin value="US13057KAH32"/>
          <other otherDesc="Inhouse Asset ID" value="1123452"/>
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        <balance>4015000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3514333.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Series 2019</title>
        <cusip>13081CAC2</cusip>
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          <isin value="US13081CAC29"/>
          <other otherDesc="Inhouse Asset ID" value="955372"/>
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        <balance>1275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1299396.87000000</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>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Series 2019</title>
        <cusip>13081CAD0</cusip>
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          <isin value="US13081CAD02"/>
          <other otherDesc="Inhouse Asset ID" value="955370"/>
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        <balance>3725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3722144.04000000</valUSD>
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        <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>5.25000000</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>CalPlant I LLC</name>
        <lei>N/A</lei>
        <title>CalPlant I LLC, Series 21 A</title>
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        <identifiers>
          <isin value="US13136CAA18"/>
          <other otherDesc="Inhouse Asset ID" value="1170512"/>
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        <balance>1920000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>249600.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CalPlant I LLC</name>
        <lei>N/A</lei>
        <title>CalPlant I LLC, Series 21 B</title>
        <cusip>13136CAB9</cusip>
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          <isin value="US13136CAB90"/>
          <other otherDesc="Inhouse Asset ID" value="1172663"/>
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        <balance>7205000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>936650.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
          <isDefault>Y</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CalPlant I LLC</name>
        <lei>N/A</lei>
        <title>CalPlant I LLC, Series 22 A</title>
        <cusip>13136CAC7</cusip>
        <identifiers>
          <isin value="US13136CAC73"/>
          <other otherDesc="Inhouse Asset ID" value="1194891"/>
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        <balance>3975000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>516750.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CalPlant I LLC</name>
        <lei>N/A</lei>
        <title>CalPlant I LLC, Series 22 B</title>
        <cusip>13136CAD5</cusip>
        <identifiers>
          <isin value="US13136CAD56"/>
          <other otherDesc="Inhouse Asset ID" value="1216964"/>
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        <balance>345000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44850.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CalPlant I LLC</name>
        <lei>N/A</lei>
        <title>CalPlant I LLC, Series 22 C</title>
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          <isin value="US13136CAE30"/>
          <other otherDesc="Inhouse Asset ID" value="1218720"/>
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        <balance>2610000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2610000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>CalPlant I LLC</name>
        <lei>N/A</lei>
        <title>CalPlant I LLC, Series 22 X</title>
        <cusip>13136CAG8</cusip>
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          <isin value="US13136CAG87"/>
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        <balance>3910000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3910000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2023-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CalPlant I LLC</name>
        <lei>N/A</lei>
        <title>CalPlant I LLC, Series 23 A</title>
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          <isin value="US13136CAH60"/>
          <other otherDesc="Inhouse Asset ID" value="1233902"/>
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        <balance>1380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1380000.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2023-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>CalPlant I LLC</name>
        <lei>N/A</lei>
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          <isin value="US13136CAJ27"/>
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        <valUSD>1225000.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2023-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>CalPlant I LLC</name>
        <lei>N/A</lei>
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          <isin value="US13136CAK99"/>
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        <balance>1955000.00000000</balance>
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        <valUSD>1955000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2023-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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        <name>CalPlant I LLC</name>
        <lei>N/A</lei>
        <title>CalPlant I LLC, Series 23 D</title>
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          <isin value="US13136CAL72"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1700000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>CalPlant I LLC</name>
        <lei>N/A</lei>
        <title>CalPlant I LLC, Series 23 E</title>
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          <isin value="US13136CAM55"/>
          <other otherDesc="Inhouse Asset ID" value="1271859"/>
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        <balance>1915000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1915000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CalPlant I LLC</name>
        <lei>N/A</lei>
        <title>CalPlant I LLC</title>
        <cusip>13136CAN3</cusip>
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          <isin value="US13136CAN39"/>
          <other otherDesc="Inhouse Asset ID" value="1299836"/>
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        <balance>5795000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5795000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Chester County Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Currents Community Development District</name>
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        <name>Cypress Bluff Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cypress Creek Reserve Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cypress Reserve Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cypress Park Estates Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>DG Farms Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DG Farms Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DW Bayview Community Development District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dallas Area Municipal Authority</name>
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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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Dallas Housing Finance Corp.</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-12-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
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        <name>Darby Community Development District</name>
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        <balance>1290000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1330281.93000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Darby Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Darby Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>City of DeSoto TX</name>
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      <invstOrSec>
        <name>City of Decatur TX</name>
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        <balance>2160000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <name>Del Webb Oak Creek Community Development District</name>
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        <name>Denver International Business Center Metropolitan District No. 1</name>
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      <invstOrSec>
        <name>City of Detroit MI Sewage Disposal System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-01</maturityDt>
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        <balance>2750000.00000000</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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      <invstOrSec>
        <name>City of Elmendorf TX</name>
        <lei>N/A</lei>
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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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      <invstOrSec>
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        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>1002832.21000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Elmendorf TX</name>
        <lei>N/A</lei>
        <title>City of Elmendorf, Series 2025</title>
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        <curCd>USD</curCd>
        <valUSD>2370012.84000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Enbrook Community Development District</name>
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          <isin value="US29250GAC42"/>
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        <balance>500000.00000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <lei>N/A</lei>
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          <isin value="US29250GAD25"/>
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        <balance>1150000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Entrada Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Entrada Community Development District</name>
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        <name>Entrada Community Development District</name>
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        <name>Epperson North Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Epperson North Community Development District</name>
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        <name>Epperson North Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Epperson North Community Development District</name>
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        <balance>125000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Epperson North Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Epperson North Community Development District</name>
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        <name>Epperson Ranch II Community Development District</name>
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      <invstOrSec>
        <name>Erie County Industrial Development Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Everlands Community Development District</name>
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          <isin value="US30034HAK59"/>
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        <balance>2350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2354163.26000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Everlands II Community Development District</name>
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        <title>Everlands II Community Development District, Series 2024</title>
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          <isin value="US30037GAB41"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>508055.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>Everlands II Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US30037GAC24"/>
          <other otherDesc="Inhouse Asset ID" value="1374657"/>
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        <balance>485000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>488963.27000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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      <invstOrSec>
        <name>FW Texas Street Public Facility Corp.</name>
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          <isin value="US30322SAA42"/>
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        <balance>10000000.00000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>County of Fairfield OH</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Fallschase Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Fate TX</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-15</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Fate TX</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>City of Fate TX</name>
        <lei>N/A</lei>
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        <balance>711000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>Florida Development Finance Corp.</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>Georgia Housing &amp; Finance Authority</name>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
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        <name>Grand Canyon University</name>
        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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        <name>County of Grand Forks ND</name>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2043-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <name>Grand Oaks Community Development District</name>
        <lei>N/A</lei>
        <title>Grand Oaks Community Development District, Series 2020</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Grand Oaks Community Development District</name>
        <lei>N/A</lei>
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        <valUSD>204283.11000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <valUSD>475634.67000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Grand Parkway Transportation Corp.</name>
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      <invstOrSec>
        <name>Grand Rapids Economic Development Corp.</name>
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          <maturityDt>2050-11-01</maturityDt>
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      <invstOrSec>
        <name>Grande Pines Community Development District</name>
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          <maturityDt>2041-05-01</maturityDt>
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        <name>Grande Pines Community Development District</name>
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          <maturityDt>2051-05-01</maturityDt>
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        <name>Grande Pines Community Development District</name>
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        <name>Green Lake Township Economic Development Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Greenbriar Community Development District</name>
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      <invstOrSec>
        <name>Greenbriar Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
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      <invstOrSec>
        <name>Greenville Housing Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
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      <invstOrSec>
        <name>Greenways Metropolitan District No. 1</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Grove Resort Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>366514.21000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
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      <invstOrSec>
        <name>City of Gunter TX</name>
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        <balance>1676000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>HTA CL 6 Trust</name>
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          <isin value="US40440SAB88"/>
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        <balance>1239120.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1239393.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Hamilton Bluff Community Development District</name>
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          <isin value="US40702EAB20"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Hamilton Bluff Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Hamilton OH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hammock Reserve Community Development District</name>
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        <name>Hammock Reserve Community Development District</name>
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        <balance>200000.00000000</balance>
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        <name>Hammock Reserve Community Development District</name>
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        <name>Hammock Reserve Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-01</maturityDt>
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      <invstOrSec>
        <name>Hammock Oaks Community Development District</name>
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        <name>Harmony on Lake Eloise Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lake Mattie Preserve Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Lake Mattie Preserve Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lakes at Bella Lago Community Development District</name>
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        <name>Lakes at Bella Lago Community Development District</name>
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        <name>Lakes of Sarasota Community Development District</name>
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        <name>Lakes of Sarasota Community Development District</name>
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      <invstOrSec>
        <name>Lakes of Sarasota Community Development District</name>
        <lei>N/A</lei>
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          <maturityDt>2031-05-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Lakewood Park Community Development District</name>
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        <name>Lakewood Ranch Stewardship District</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lakewood Ranch Stewardship District</name>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Lakewood Ranch Stewardship District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-01</maturityDt>
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      <invstOrSec>
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        <balance>445000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-15</maturityDt>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lancaster County Hospital Authority</name>
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          <isin value="US514045S466"/>
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        <balance>1105000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lancaster County Hospital Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Lancaster SC</name>
        <lei>5493004EFQNI7UOCFI47</lei>
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          <isin value="US514088BM40"/>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-01</maturityDt>
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        <name>Langley South Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-01</maturityDt>
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        <name>Langley South Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>City of Las Vegas NV Special Improvement District No. 812</name>
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          <isin value="US517784AQ70"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Las Vegas NV Special Improvement District No. 812</name>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>900478.98000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Midlothian TX</name>
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      <invstOrSec>
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        <name>Military Installation Development Authority</name>
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        <name>Villages at Castle Rock Metropolitan District No. 4</name>
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        <name>City of Minneapolis MN</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mirada Community Development District</name>
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        <name>Mission Rock Utilities, Inc.</name>
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        <name>Mission Economic Development Corp.</name>
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      <invstOrSec>
        <name>Mississippi Development Bank</name>
        <lei>549300122LOI8CB50V38</lei>
        <title>Mississippi Development Bank, Series 2021</title>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>Mississippi Development Bank</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mississippi Home Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>Mississippi Home Corp.</name>
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        <name>Health &amp; Educational Facilities Authority of the State of Missouri</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Monongalia WV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Montgomery TX</name>
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        <title>County of Montgomery, Series 2025</title>
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          <isin value="US61371JAC53"/>
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        <balance>814000.00000000</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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        <name>County of Montgomery TX</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Montgomery TX</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Hill Metropolitan District No. 3</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Murphy Creek Metropolitan District No. 4</name>
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        <name>City of Mustang Ridge TX</name>
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          <isin value="US62822EAB11"/>
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        <name>City of Mustang Ridge TX</name>
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        <name>New Hampshire Business Finance Authority</name>
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        <lei>N/A</lei>
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        <name>New Hampshire Business Finance Authority</name>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-06-01</maturityDt>
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      <invstOrSec>
        <name>City of North Las Vegas NV</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-01</maturityDt>
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      <invstOrSec>
        <name>North Loop Community Development District</name>
        <lei>N/A</lei>
        <title>North Loop Community Development District, Series 2023</title>
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          <isin value="US66066AAB52"/>
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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>2043-05-01</maturityDt>
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        <name>North Loop Community Development District</name>
        <lei>N/A</lei>
        <title>North Loop Community Development District, Series 2023</title>
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          <isin value="US66066AAC36"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Park Isle Community Development District</name>
        <lei>N/A</lei>
        <title>North Park Isle Community Development District, Series 2021</title>
        <cusip>661416AE7</cusip>
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          <isin value="US661416AE76"/>
          <other otherDesc="Inhouse Asset ID" value="1173276"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54285.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Park Isle Community Development District</name>
        <lei>N/A</lei>
        <title>North Park Isle Community Development District, Series 2021</title>
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          <isin value="US661416AF42"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>476198.10000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Parkway Municipal Management District No. 1</name>
        <lei>N/A</lei>
        <title>North Parkway Municipal Management District No. 1, Series 2021</title>
        <cusip>661441AA3</cusip>
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          <isin value="US661441AA38"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>348711.20000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>North Parkway Municipal Management District No. 1</name>
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        <title>North Parkway Municipal Management District No. 1, Series 2021</title>
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          <isin value="US66144PAB85"/>
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        <balance>250000.00000000</balance>
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        <valUSD>243411.93000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-15</maturityDt>
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      <invstOrSec>
        <name>North Powerline Road Community Development District</name>
        <lei>N/A</lei>
        <title>North Powerline Road Community Development District, Series 2020</title>
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          <isin value="US66173PAB22"/>
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        <balance>490000.00000000</balance>
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        <valUSD>476791.22000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
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        <name>North Powerline Road Community Development District</name>
        <lei>N/A</lei>
        <title>North Powerline Road Community Development District, Series 2020</title>
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          <isin value="US66173PAC05"/>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>North Powerline Road Community Development District</name>
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        <title>North Powerline Road Community Development District, Series 2022</title>
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          <isin value="US66173PAF36"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
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        <name>North Powerline Road Community Development District</name>
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          <isin value="US66173PAG19"/>
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      <invstOrSec>
        <name>North River Ranch Community Development District</name>
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        <title>North River Ranch Community Development District, Series 2020 A-1</title>
        <cusip>662008AB7</cusip>
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          <isin value="US662008AB71"/>
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        <name>North River Ranch Community Development District</name>
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          <isin value="US662008AC54"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-01</maturityDt>
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        <name>North River Ranch Improvement Stewardship District</name>
        <lei>N/A</lei>
        <title>North River Ranch Improvement Stewardship District, Series 2023 A-1</title>
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          <isin value="US66200PAG81"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>North River Ranch Improvement Stewardship District</name>
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          <isin value="US66200PAM59"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
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          <annualizedRt>6.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>North Texas Tollway Authority, Series 2011 B</title>
        <cusip>66285WHD1</cusip>
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          <isin value="US66285WHD11"/>
          <other otherDesc="Inhouse Asset ID" value="492250"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4033990.50000000</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>2037-09-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>North Texas Tollway Authority, Series 2011 C</title>
        <cusip>66285WHF6</cusip>
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          <isin value="US66285WHF68"/>
          <other otherDesc="Inhouse Asset ID" value="492236"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12047477.00000000</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>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.99999840</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northern Mariana Island Ports Authority</name>
        <lei>N/A</lei>
        <title>Northern Mariana Island Ports Authority, Series 1998 A</title>
        <cusip>66537RAP8</cusip>
        <identifiers>
          <isin value="US66537RAP82"/>
          <other otherDesc="Inhouse Asset ID" value="156860"/>
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        <balance>4350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4419169.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>MP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.60000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northlake Stewardship District</name>
        <lei>N/A</lei>
        <title>Northlake Stewardship District, Series 2025</title>
        <cusip>66649EAB3</cusip>
        <identifiers>
          <isin value="US66649EAB39"/>
          <other otherDesc="Inhouse Asset ID" value="1505067"/>
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        <balance>875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>909343.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>Northlake Stewardship District</name>
        <lei>N/A</lei>
        <title>Northlake Stewardship District, Series 2025</title>
        <cusip>66649EAC1</cusip>
        <identifiers>
          <isin value="US66649EAC12"/>
          <other otherDesc="Inhouse Asset ID" value="1505069"/>
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        <balance>2570000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2666324.89000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.20000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northridge Community Development District</name>
        <lei>N/A</lei>
        <title>Northridge Community Development District, Series 2025</title>
        <cusip>66668PAB4</cusip>
        <identifiers>
          <isin value="US66668PAB40"/>
          <other otherDesc="Inhouse Asset ID" value="1473470"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1540875.90000000</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>2045-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</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>Northridge Community Development District</name>
        <lei>N/A</lei>
        <title>Northridge Community Development District, Series 2025</title>
        <cusip>66668PAC2</cusip>
        <identifiers>
          <isin value="US66668PAC23"/>
          <other otherDesc="Inhouse Asset ID" value="1473471"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2051955.80000000</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>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Northwood Municipal Utility District No. 1</name>
        <lei>N/A</lei>
        <title>Northwood Municipal Utility District No. 1, Series 2020</title>
        <cusip>668511BG2</cusip>
        <identifiers>
          <isin value="US668511BG23"/>
          <other otherDesc="Inhouse Asset ID" value="1079201"/>
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        <balance>1070000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1070152.69000000</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>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Oak Point TX</name>
        <lei>N/A</lei>
        <title>City of Oak Point, Series 2020</title>
        <cusip>67176TAL7</cusip>
        <identifiers>
          <isin value="US67176TAL70"/>
          <other otherDesc="Inhouse Asset ID" value="1119916"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>283403.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Oak Point TX</name>
        <lei>N/A</lei>
        <title>City of Oak Point, Series 2020</title>
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          <isin value="US67176TAM53"/>
          <other otherDesc="Inhouse Asset ID" value="1119917"/>
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        <balance>1170000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1038382.72000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <name>City of Oak Point TX</name>
        <lei>N/A</lei>
        <title>City of Oak Point, Series 2020</title>
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          <isin value="US67176TAN37"/>
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        <balance>1060000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>864725.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Oak Point TX</name>
        <lei>N/A</lei>
        <title>City of Oak Point, Series 2021</title>
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          <isin value="US67176TAQ67"/>
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        <balance>160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>145960.46000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Oak Point TX</name>
        <lei>N/A</lei>
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          <isin value="US67176TAR41"/>
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        <balance>628000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>494924.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>City of Oak Point TX</name>
        <lei>N/A</lei>
        <title>City of Oak Point, Series 2024</title>
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          <isin value="US67176TAV52"/>
          <other otherDesc="Inhouse Asset ID" value="1380896"/>
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        <balance>243000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>244818.20000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Oak Point TX</name>
        <lei>N/A</lei>
        <title>City of Oak Point, Series 2024</title>
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          <isin value="US67176TAW36"/>
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        <balance>170000.00000000</balance>
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        <valUSD>169302.63000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Oak Point TX</name>
        <lei>N/A</lei>
        <title>City of Oak Point, Series 2024</title>
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        <balance>160000.00000000</balance>
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        <valUSD>160144.86000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Oak Point TX</name>
        <lei>N/A</lei>
        <title>City of Oak Point, Series 2024</title>
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          <isin value="US67176TAZ66"/>
          <other otherDesc="Inhouse Asset ID" value="1399215"/>
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        <balance>1295000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1271227.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Palm Beach County Health Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Palm Coast Park Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Palm Coast 145 Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Palm Gate Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Palmdale Elementary School District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <lei>549300YBE1L2RGBY7L18</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Palmdale Elementary School District</name>
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          <maturityDt>2054-05-01</maturityDt>
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      <invstOrSec>
        <name>Parkview at Long Lake Ranch Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-01</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Parrish Plantation Community Development District</name>
        <lei>N/A</lei>
        <title>Parrish Plantation Community Development District, Series 2021</title>
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          <isin value="US701830AA98"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>69604.89000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Pasadena Ridge Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Pasadena Ridge Community Development District</name>
        <lei>N/A</lei>
        <title>Pasadena Ridge Community Development District, Series 2025</title>
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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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Peace Creek Community Development District</name>
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          <isin value="US70459AAB26"/>
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        <balance>1450000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Peace Creek Village Community Development District</name>
        <lei>N/A</lei>
        <title>Peace Creek Village Community Development District, Series 2024</title>
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          <isin value="US70459CAB81"/>
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        <balance>1115000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Peace Creek Village Community Development District</name>
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        <balance>910000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>920641.27000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-01</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Peace Creek Village Community Development District</name>
        <lei>N/A</lei>
        <title>Peace Creek Village Community Development District, Series 2025</title>
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          <isin value="US70459CAF95"/>
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        <balance>1685000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
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      <invstOrSec>
        <name>Peace Crossing Community Development District</name>
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        <title>Peace Crossing Community Development District, Series 2024</title>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>439449.35000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Peace Crossing Community Development District</name>
        <lei>N/A</lei>
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        <balance>2825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2808242.95000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-01</maturityDt>
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          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>Peace Crossing Community Development District</name>
        <lei>N/A</lei>
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        <balance>4000000.00000000</balance>
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        <valUSD>3954994.80000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-01</maturityDt>
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      <invstOrSec>
        <name>Pecan Public Facility Corp.</name>
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          <isin value="US705125AC67"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pennsylvania Turnpike Commission</name>
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          <isin value="US709224BV08"/>
          <other otherDesc="Inhouse Asset ID" value="562315"/>
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        <curCd>USD</curCd>
        <valUSD>20766460.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Pennsylvania Turnpike Commission</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
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          <isin value="US709224BW80"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Philadelphia Authority for Industrial Development</name>
        <lei>549300DIY68KQZEW7M79</lei>
        <title>Philadelphia Authority for Industrial Development, Series A</title>
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          <isin value="US717824AR77"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Philadelphia Authority for Industrial Development</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-01</maturityDt>
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      <invstOrSec>
        <name>Philadelphia Authority for Industrial Development</name>
        <lei>549300DIY68KQZEW7M79</lei>
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          <isin value="US717901CE01"/>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-07-01</maturityDt>
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          <annualizedRt>2.85000030</annualizedRt>
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      <invstOrSec>
        <name>City of Pilot Point TX</name>
        <lei>N/A</lei>
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          <isin value="US721614AB14"/>
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        <name>Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Red River Health Facilities Development Corp.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Reno NV</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Reserve at Van Oaks Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Reunion East Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
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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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        <name>Rhodine Road North Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <balance>190000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Rhodine Road North Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ridge at Apopka Community Development District</name>
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        <name>Ridge at Apopka Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>River Hall Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
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        <name>River Hall Community Development District</name>
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        <balance>890000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>River Hall Community Development District</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <balance>750000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>Rivers Edge II Community Development District</name>
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      <invstOrSec>
        <name>Riverside County Transportation Commission</name>
        <lei>5493003G0IESJS57M350</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
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      <invstOrSec>
        <name>Riverside County Transportation Commission</name>
        <lei>5493003G0IESJS57M350</lei>
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        <name>City of Royse City TX</name>
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      <invstOrSec>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>RRC Metropolitan District No. 2</name>
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      <invstOrSec>
        <name>Rye Crossing Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
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      <invstOrSec>
        <name>Rye Crossing Community Development District</name>
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      <invstOrSec>
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        <name>City &amp; County of San Francisco CA Special Tax District No. 2020-1</name>
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      <invstOrSec>
        <name>San Joaquin Hills Transportation Corridor Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of San Marcos TX</name>
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      <invstOrSec>
        <name>San Mateo Union High School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-09-01</maturityDt>
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        <name>Silicon Valley Tobacco Securitization Authority</name>
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        <name>Six Mile Creek Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Solaeris Community Development District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
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        <name>Southeast Energy Authority A Cooperative District</name>
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        <name>Southern Groves Community Development District No. 5</name>
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        <fairValLevel>2</fairValLevel>
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        <name>STC Metropolitan District No. 2</name>
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        <name>Stoddard County Industrial Development Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Stonegate Preserve Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Stoneybrook South Community Development District</name>
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        <name>Stoneybrook South Community Development District</name>
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        <name>Stoneybrook North Community Development District</name>
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        <name>Stoneybrook South at Championsgate Community Development District</name>
        <lei>N/A</lei>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Stoneybrook South at Championsgate Community Development District</name>
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        <balance>395000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2043-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Stoneybrook South at Championsgate Community Development District</name>
        <lei>N/A</lei>
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        <name>Suffolk Regional Off-Track Betting Corp.</name>
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        <name>Summer Woods Community Development District</name>
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        <name>Terreno Community Development District</name>
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        <name>3rd and Havana Metropolitan District</name>
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        <name>Three Rivers Community Development District</name>
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        <name>Timber Creek Southwest Community Development District</name>
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          <maturityDt>2026-12-15</maturityDt>
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      <invstOrSec>
        <name>Timber Creek Southwest Community Development District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Tobacco Settlement Financing Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tohoqua Community Development District</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
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      <invstOrSec>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tolomato Community Development District</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Tolomato Community Development District</name>
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          <isin value="US889560EW48"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>City of Tomball TX</name>
        <lei>N/A</lei>
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          <isin value="US889858AA49"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>177672.61000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-15</maturityDt>
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          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Towne Park Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US89215RAW43"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Towne Park Community Development District</name>
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        <name>Towne Park Community Development District</name>
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      <invstOrSec>
        <name>Towns at Woodsdale Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-01</maturityDt>
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        <name>Towns at Woodsdale Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US89217EAC57"/>
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        <balance>1325000.00000000</balance>
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          <maturityDt>2053-11-01</maturityDt>
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          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>Tradition Community Development District No. 9</name>
        <lei>N/A</lei>
        <title>Tradition Community Development District No. 9, Series 2021</title>
        <cusip>89269NAA6</cusip>
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          <isin value="US89269NAA63"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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      <invstOrSec>
        <name>Tradition Community Development District No. 9</name>
        <lei>N/A</lei>
        <title>Tradition Community Development District No. 9, Series 2021</title>
        <cusip>89269NAB4</cusip>
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          <isin value="US89269NAB47"/>
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        <balance>445000.00000000</balance>
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        <valUSD>417333.55000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Trails at Crowfoot Metropolitan District No. 3</name>
        <lei>N/A</lei>
        <title>Trails at Crowfoot Metropolitan District No. 3, Series 2024 B</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Tulsa County Industrial Authority</name>
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      <invstOrSec>
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        <name>Utah Charter School Finance Authority</name>
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        <name>V-Dana Community Development District</name>
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        <name>V-Dana Community Development District</name>
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      </invstOrSec>
      <invstOrSec>
        <name>V-Dana Community Development District</name>
        <lei>N/A</lei>
        <title>V-Dana Community Development District, Series 2025</title>
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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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      <invstOrSec>
        <name>V-Dana Community Development District</name>
        <lei>N/A</lei>
        <title>V-Dana Community Development District, Series 2025</title>
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          <isin value="US91822RAP01"/>
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        <valUSD>1106881.93000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>City of Valparaiso IN</name>
        <lei>N/A</lei>
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          <isin value="US920286AA93"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Varrea South Community Development District</name>
        <lei>N/A</lei>
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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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      <invstOrSec>
        <name>Varrea South Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US92228DAC83"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>Vanguard Tax-Exempt Bond Index ETF</name>
        <lei>N/A</lei>
        <title>Vanguard Tax-Exempt Bond Index ETF</title>
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          <isin value="US9229077469"/>
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        <curCd>USD</curCd>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Venus TX</name>
        <lei>N/A</lei>
        <title>City of Venus, Series 2021</title>
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          <isin value="US92334AAB70"/>
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        <balance>166000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>153347.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-15</maturityDt>
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      <invstOrSec>
        <name>City of Venus TX</name>
        <lei>N/A</lei>
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          <isin value="US92334AAC53"/>
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        <balance>994000.00000000</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>2041-09-15</maturityDt>
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        <name>City of Venus TX</name>
        <lei>N/A</lei>
        <title>City of Venus, Series 2022</title>
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          <isin value="US92334AAF84"/>
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        <balance>1000000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>City of Venus TX</name>
        <lei>N/A</lei>
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          <isin value="US92334AAG67"/>
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        <balance>1009000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Verano No. 2 Community Development District</name>
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          <isin value="US92337JBB44"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Verano No. 2 Community Development District</name>
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          <isin value="US92337JBC27"/>
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          <maturityDt>2054-05-01</maturityDt>
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        <name>Verano No. 2 Community Development District</name>
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          <isin value="US92337JBF57"/>
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        <name>Verano No. 3 Community Development District</name>
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          <isin value="US92337NAC48"/>
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        <name>Verano No. 3 Community Development District</name>
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          <isin value="US92337NAF78"/>
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        <name>Verano No. 3 Community Development District</name>
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        <name>Verano No. 4 Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Veranda Community Development District II</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
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        <lei>N/A</lei>
        <title>Veranda Community Development District II, Series 2021</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-01</maturityDt>
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      <invstOrSec>
        <name>Veranda Community Development District II</name>
        <lei>N/A</lei>
        <title>Veranda Community Development District II, Series 2021</title>
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          <isin value="US92338HAS13"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Veranda Community Development District II</name>
        <lei>N/A</lei>
        <title>Veranda Community Development District II, Series 2021</title>
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          <isin value="US92338HAT95"/>
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        <balance>65000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Veranda Community Development District II</name>
        <lei>N/A</lei>
        <title>Veranda Community Development District II, Series 2021</title>
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          <isin value="US92338HAU68"/>
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        <balance>275000.00000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
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      <invstOrSec>
        <name>Veranda Community Development District II</name>
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        <title>Veranda Community Development District II, Series 2024</title>
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          <isin value="US92338HAX08"/>
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        <balance>1675000.00000000</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>2044-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Veranda Community Development District II</name>
        <lei>N/A</lei>
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          <isin value="US92338HAY80"/>
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        <balance>3470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3524223.26000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Veranda Community Development District II</name>
        <lei>N/A</lei>
        <title>Veranda Community Development District II, Series 2024</title>
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          <isin value="US92338HBA95"/>
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        <balance>580000.00000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Veranda Community Development District II</name>
        <lei>N/A</lei>
        <title>Veranda Community Development District II, Series 2024</title>
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          <isin value="US92338HBB78"/>
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        <balance>260000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
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      <invstOrSec>
        <name>Viera Stewardship District</name>
        <lei>N/A</lei>
        <title>Viera Stewardship District, Series 2021</title>
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          <isin value="US92670TAA07"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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      <invstOrSec>
        <name>Viera Stewardship District</name>
        <lei>N/A</lei>
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          <isin value="US92670TAB89"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>Viera Stewardship District</name>
        <lei>N/A</lei>
        <title>Viera Stewardship District, Series 2021</title>
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          <isin value="US92670TAC62"/>
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        <balance>1750000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-01</maturityDt>
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          <annualizedRt>3.12500000</annualizedRt>
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      <invstOrSec>
        <name>Viera Stewardship District</name>
        <lei>N/A</lei>
        <title>Viera Stewardship District, Series 2023</title>
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          <isin value="US92670TAG76"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Village of Villa Park IL</name>
        <lei>N/A</lei>
        <title>Village of Villa Park, Series 2021</title>
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          <isin value="US927023AA96"/>
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        <balance>1815000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Village at Dry Creek Metropolitan District No. 2 (The)</name>
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        <title>Village at Dry Creek Metropolitan District No. 2 (The), Series 2019</title>
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          <isin value="US92705AAA07"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>491624.95000000</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>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Waterfront at Foster Lake Metropolitan District No. 2</name>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US941564AC09"/>
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        <balance>4085000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
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          <isin value="US941564AD81"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Waterfront at Foster Lake Metropolitan District No. 2</name>
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          <isin value="US941567AA73"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
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      <invstOrSec>
        <name>Waterset South Community Development District</name>
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        <title>Waterset South Community Development District, Series 2022</title>
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          <isin value="US94186HAD35"/>
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        <balance>665000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>695299.13000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.10000000</annualizedRt>
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        <name>Waterset South Community Development District</name>
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          <isin value="US94186HAG65"/>
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        <balance>1680000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1722494.59000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Waxahachie TX</name>
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        <title>City of Waxahachie, Series 2022</title>
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          <isin value="US94411PAG54"/>
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        <balance>302000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>313498.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>City of Waxahachie TX</name>
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          <isin value="US94411PAH38"/>
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        <balance>2395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2404586.47000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-08-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Wellness Ridge Community Development District</name>
        <lei>N/A</lei>
        <title>Wellness Ridge Community Development District, Series 2023</title>
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          <isin value="US95004CAB54"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-06-15</maturityDt>
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      <invstOrSec>
        <name>Wellness Ridge Community Development District</name>
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          <isin value="US95004CAC38"/>
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        <balance>1340000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-06-15</maturityDt>
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        <name>Wellness Ridge Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US95004CAD11"/>
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        <balance>235000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <lei>N/A</lei>
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          <isin value="US95004CAE93"/>
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        <balance>500000.00000000</balance>
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          <maturityDt>2044-06-15</maturityDt>
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        <name>West Central Ohio Port Authority</name>
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          <isin value="US95184AAB17"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-12-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>West Hillcrest Community Development District</name>
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          <isin value="US95329AAB70"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-06-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>West Meadow Metropolitan District</name>
        <lei>N/A</lei>
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          <isin value="US954261AB90"/>
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        <balance>2750000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Wind Meadows South Community Development District</name>
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        <name>Wind Meadows South Community Development District</name>
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      <invstOrSec>
        <name>Wind Meadows South Community Development District</name>
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      <invstOrSec>
        <name>Wind Meadows South Community Development District</name>
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      <invstOrSec>
        <name>Woodland Ranch Estates Community Development District</name>
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        <cusip>97967NAC0</cusip>
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          <isin value="US97967NAC02"/>
          <other otherDesc="Inhouse Asset ID" value="1438698"/>
        </identifiers>
        <balance>715000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>720987.84000000</valUSD>
        <pctVal>0.015303285928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yamhill County Hospital Authority</name>
        <lei>N/A</lei>
        <title>Yamhill County Hospital Authority, Series 2016 A</title>
        <cusip>98464UAQ9</cusip>
        <identifiers>
          <isin value="US98464UAQ94"/>
          <other otherDesc="Inhouse Asset ID" value="641594"/>
        </identifiers>
        <balance>4325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3734799.69000000</valUSD>
        <pctVal>0.079272776005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-15</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>Yamhill County Hospital Authority</name>
        <lei>N/A</lei>
        <title>Yamhill County Hospital Authority, Series 2021 A</title>
        <cusip>98464UAY2</cusip>
        <identifiers>
          <isin value="US98464UAY29"/>
          <other otherDesc="Inhouse Asset ID" value="1151057"/>
        </identifiers>
        <balance>6115000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5184350.20000000</valUSD>
        <pctVal>0.110040126982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-11-15</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>Zephyr Lakes Community Development District</name>
        <lei>N/A</lei>
        <title>Zephyr Lakes Community Development District, Series 2021</title>
        <cusip>98944TAE9</cusip>
        <identifiers>
          <isin value="US98944TAE91"/>
          <other otherDesc="Inhouse Asset ID" value="1151038"/>
        </identifiers>
        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44645.10000000</valUSD>
        <pctVal>0.000947612002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zephyr Lakes Community Development District</name>
        <lei>N/A</lei>
        <title>Zephyr Lakes Community Development District, Series 2021</title>
        <cusip>98944TAF6</cusip>
        <identifiers>
          <isin value="US98944TAF66"/>
          <other otherDesc="Inhouse Asset ID" value="1151039"/>
        </identifiers>
        <balance>135000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>127678.22000000</valUSD>
        <pctVal>0.002710026714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>Zephyr Lakes Community Development District</name>
        <lei>N/A</lei>
        <title>Zephyr Lakes Community Development District, Series 2021</title>
        <cusip>98944TAG4</cusip>
        <identifiers>
          <isin value="US98944TAG40"/>
          <other otherDesc="Inhouse Asset ID" value="1151041"/>
        </identifiers>
        <balance>640000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>540518.85000000</valUSD>
        <pctVal>0.011472751761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</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>GDB Debt Recovery Authority of Puerto Rico</name>
        <lei>N/A</lei>
        <title>GDB Debt Recovery Authority of Puerto Rico</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US36829QAA31"/>
          <other otherDesc="Inhouse Asset ID" value="1096669"/>
        </identifiers>
        <balance>20888368.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20335847.69000000</valUSD>
        <pctVal>0.431637365488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority, Series 2021 B</title>
        <cusip>45204FGD1</cusip>
        <identifiers>
          <isin value="US45204FGD15"/>
          <other otherDesc="Inhouse Asset ID" value="1129345"/>
        </identifiers>
        <balance>3035000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3045674.70000000</valUSD>
        <pctVal>0.064645793167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</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 San Francisco</name>
        <lei>N/A</lei>
        <title>City of San Francisco</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1171566"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8984296.00000000</valUSD>
        <pctVal>0.190695657998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>AES Guayama Holdings BV</name>
        <lei>N/A</lei>
        <title>AES Guayama Holdings BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1317595"/>
        </identifiers>
        <balance>231664.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brightline Train Holdings West LLC</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>Brightline Train Holdings West LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1547892"/>
        </identifiers>
        <balance>141600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-12-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Tax Free Trust</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
