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        <name>Arlington Higher Education Finance Corp.</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US04625DAF50"/>
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      <invstOrSec>
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      <invstOrSec>
        <name>Atlanta Development Authority (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Avalon Groves Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ave Maria Stewardship Community District</name>
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      <invstOrSec>
        <name>Baseline Metropolitan District No. 1</name>
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        <name>Bella Tara Community Development District</name>
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          <isin value="US07820BAA61"/>
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      <invstOrSec>
        <name>Bella Tara Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bellehaven Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <balance>1215000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Belmond Reserve Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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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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        <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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        <name>Berks County Municipal Authority (The)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Berry Bay Community Development District</name>
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          <isin value="US08577CAA71"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
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        <name>Berry Bay II Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US08577DAC11"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Big Cypress Stewardship District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Black Belt Energy Gas District</name>
        <lei>549300I8V0Z68JQCB679</lei>
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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>Black Creek Community Development District</name>
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        <name>Blackwell Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Boggy Branch Community Development District</name>
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        <name>Boggy Branch Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-01</maturityDt>
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      <invstOrSec>
        <name>City of Boyd TX</name>
        <lei>N/A</lei>
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        <cusip>103341AC7</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-09-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>California Municipal Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US13057KAH32"/>
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        <balance>4015000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3572601.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <lei>549300KTNI2GCJNX2U48</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-07-01</maturityDt>
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      <invstOrSec>
        <name>CalPlant I LLC</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isin value="US13136CAC73"/>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CalPlant I LLC</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <valUSD>5795000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Cape Coral Health Facilities Authority</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Cape Girardeau 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>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Capital Projects Finance Authority/FL</name>
        <lei>N/A</lei>
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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>Capital Trust Agency, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Capital Trust Agency, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Capital Trust Agency, Inc.</name>
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        <name>Capital Trust Agency, Inc.</name>
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        <name>Capital Trust Agency, Inc.</name>
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        <name>Capital Trust Agency, Inc.</name>
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        <name>Capital Trust Agency, Inc.</name>
        <lei>549300F49UWS7X0OGQ59</lei>
        <title>Capital Trust Agency, Inc., Series 2021 A</title>
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      <invstOrSec>
        <name>Capital Trust Agency, Inc.</name>
        <lei>549300F49UWS7X0OGQ59</lei>
        <title>Capital Trust Agency, Inc., Series 2021 A-2</title>
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          <isin value="US14054CEL90"/>
          <other otherDesc="Inhouse Asset ID" value="1166987"/>
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        <balance>750000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Cedar Bayou Navigation District</name>
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        <name>Celebration Community Development District</name>
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        <name>City of Celina TX</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Center Lake Ranch West Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Centerville OH</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Central Parc Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <name>Central Texas Regional Mobility Authority</name>
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        <invCountry>US</invCountry>
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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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          <couponKind>None</couponKind>
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        <fairValLevel>2</fairValLevel>
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        <name>Central Texas Regional Mobility Authority</name>
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          <isin value="US155498BH01"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Chaparral Palm Bay Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chapel Creek Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chapel Creek Community Development District</name>
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      <invstOrSec>
        <name>Chapel Crossings Community Development District</name>
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        <balance>645000.00000000</balance>
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      <invstOrSec>
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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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        <name>Curiosity Creek 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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          <maturityDt>2053-05-01</maturityDt>
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        <name>Cypress Creek Reserve Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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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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        <name>Cypress Park Estates Community Development District</name>
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        <name>Cypress Park Estates Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cypress Ridge 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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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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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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        <name>Deerbrook 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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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <lei>N/A</lei>
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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>2054-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>City of Elmendorf TX</name>
        <lei>N/A</lei>
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          <isin value="US28938TAB08"/>
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        <balance>398000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>373482.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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          <isin value="US28938TAC80"/>
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        <balance>1205000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1046997.87000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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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>2375348.04000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Enbrook 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>Entrada Community Development District</name>
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          <isin value="US29384HAB33"/>
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          <maturityDt>2031-05-01</maturityDt>
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        <name>Entrada Community Development District</name>
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        <name>Entrada Community Development District</name>
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          <maturityDt>2055-05-01</maturityDt>
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      <invstOrSec>
        <name>Epperson North Community Development District</name>
        <lei>N/A</lei>
        <title>Epperson North Community Development District, Series 2021</title>
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          <isin value="US29429VAF04"/>
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        <valUSD>44922.93000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Epperson North Community Development District</name>
        <lei>N/A</lei>
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        <balance>235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>228883.77000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Epperson North Community Development District</name>
        <lei>N/A</lei>
        <title>Epperson North Community Development District, Series 2021</title>
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        <valUSD>1094883.72000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Epperson North Community Development District</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>124194.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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      <invstOrSec>
        <name>Epperson North Community Development District</name>
        <lei>N/A</lei>
        <title>Epperson North Community Development District, Series 2021 A</title>
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        <curCd>USD</curCd>
        <valUSD>389034.24000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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      <invstOrSec>
        <name>Epperson North Community Development District</name>
        <lei>N/A</lei>
        <title>Epperson North Community Development District, Series 2024</title>
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          <isin value="US29429VAQ68"/>
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        <balance>465000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>478054.88000000</valUSD>
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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>Epperson North Community Development District</name>
        <lei>N/A</lei>
        <title>Epperson North Community Development District, Series 2024</title>
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          <isin value="US29429VAR42"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>502669.75000000</valUSD>
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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>5.60000000</annualizedRt>
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      <invstOrSec>
        <name>Epperson Ranch II Community Development District</name>
        <lei>N/A</lei>
        <title>Epperson Ranch II Community Development District, Series 2020</title>
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          <isin value="US29429YAG26"/>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>424916.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Erie County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Erie County Industrial Development Authority, Series 2024 B</title>
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          <isin value="US295207AB04"/>
          <other otherDesc="Inhouse Asset ID" value="1339856"/>
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        <balance>4495000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4157426.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Everlands Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US30034HAK59"/>
          <other otherDesc="Inhouse Asset ID" value="1410058"/>
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        <balance>2350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2359713.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <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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        <securityLending>
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      <invstOrSec>
        <name>Everlands II Community Development District</name>
        <lei>N/A</lei>
        <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>518622.05000000</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>
        <title>Everlands II Community Development District, Series 2024</title>
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          <isin value="US30037GAC24"/>
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        <balance>485000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>490052.97000000</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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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Fairfield OH</name>
        <lei>N/A</lei>
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          <isin value="US304286BD88"/>
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        <balance>10000000.00000000</balance>
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        <valUSD>9113121.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Fallschase Community Development District</name>
        <lei>N/A</lei>
        <title>Fallschase Community Development District, Series 2021</title>
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          <isin value="US306748AC87"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>897540.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>City of Fate TX</name>
        <lei>N/A</lei>
        <title>City of Fate, Series 2020</title>
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          <isin value="US31189RBS67"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>121235.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>City of Fate TX</name>
        <lei>N/A</lei>
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          <isin value="US31189RBT41"/>
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        <balance>691000.00000000</balance>
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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>2040-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>City of Fate TX</name>
        <lei>N/A</lei>
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          <isin value="US31189RBU14"/>
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        <balance>994000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>838323.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>City of Fate TX</name>
        <lei>N/A</lei>
        <title>City of Fate, Series 2020</title>
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          <isin value="US31189RBV96"/>
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        <balance>436000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>433419.80000000</valUSD>
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        <name>City of Ferris TX</name>
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      <invstOrSec>
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        <name>Grand Canyon University</name>
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        <name>Grand Parkway Transportation Corp.</name>
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        <name>Grand Rapids Economic Development Corp.</name>
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        <name>Grande Pines Community Development District</name>
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        <name>HTA CL 6 Trust</name>
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        <name>Harmony on Lake Eloise Community Development District</name>
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        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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      <invstOrSec>
        <name>Lake Deer Community Development District</name>
        <lei>N/A</lei>
        <title>Lake Deer Community Development District, Series 2022</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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      <invstOrSec>
        <name>Lake Emma Community Development District</name>
        <lei>N/A</lei>
        <title>Lake Emma Community Development District, Series 2023</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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          <maturityDt>2043-05-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
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        <lei>N/A</lei>
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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>Lake Flores Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US509682AE09"/>
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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>Lake Harris Community Development District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lake Harris Community Development District</name>
        <lei>N/A</lei>
        <title>Lake Harris Community Development District, Series 2023</title>
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          <isin value="US509856AC43"/>
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        <balance>570000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lake Hideaway Community Development District</name>
        <lei>N/A</lei>
        <title>Lake Hideaway Community Development District, Series 2024</title>
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          <isin value="US50989AAA51"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
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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>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Lake Hideaway Community Development District</name>
        <lei>N/A</lei>
        <title>Lake Hideaway Community Development District, Series 2024</title>
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          <isin value="US50989AAB35"/>
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        <balance>1425000.00000000</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>
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      <invstOrSec>
        <name>Lake Hideaway Community Development District</name>
        <lei>N/A</lei>
        <title>Lake Hideaway Community Development District, Series 2024</title>
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          <isin value="US50989AAC18"/>
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        <balance>2345000.00000000</balance>
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        <valUSD>2373961.22000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
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      <invstOrSec>
        <name>Lake Mattie Preserve Community Development District</name>
        <lei>N/A</lei>
        <title>Lake Mattie Preserve Community Development District, Series 2024</title>
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          <isin value="US510162AB66"/>
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        <balance>1005000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-01</maturityDt>
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        <name>Lake Mattie Preserve Community Development District</name>
        <lei>N/A</lei>
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        <balance>1750000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
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        <name>Lake Mattie Preserve Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-05-01</maturityDt>
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        <name>Lake Mattie Preserve Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lakefront Estates Community Development District</name>
        <lei>N/A</lei>
        <title>Lakefront Estates Community Development District, Series 2025</title>
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          <isin value="US51152CAC64"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-05-01</maturityDt>
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      <invstOrSec>
        <name>Lakes at Bella Lago Community Development District</name>
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        <title>Lakes at Bella Lago Community Development District, Series 2023-1</title>
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          <isin value="US51206LAB45"/>
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        <invCountry>US</invCountry>
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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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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-05-01</maturityDt>
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      <invstOrSec>
        <name>Lakes at Bella Lago Community Development District</name>
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        <title>Lakes at Bella Lago Community Development District, Series 2023-2</title>
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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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      </invstOrSec>
      <invstOrSec>
        <name>Lakes at Bella Lago Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Lakes of Sarasota Community Development District</name>
        <lei>N/A</lei>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>Lakes of Sarasota Community Development District</name>
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          <couponKind>Fixed</couponKind>
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        <name>Lakes of Sarasota Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lakes of Sarasota Community Development District</name>
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        <title>Lakes of Sarasota Community Development District, Series 2024 A</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Lakes of Sarasota Community Development District 2</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>Lakeshore Villages Master Community Development District</name>
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        <name>Lakeside at Satilla Community Development District</name>
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        <name>Lakeside Preserve Community Development District</name>
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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>Lakewood Park Community Development District</name>
        <lei>N/A</lei>
        <title>Lakewood Park Community Development District, Series 2021</title>
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          <isin value="US512650AB87"/>
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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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        <fairValLevel>2</fairValLevel>
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        <name>County of Lancaster SC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>County of Lancaster SC</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New York Liberty Development 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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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Town of Little Elm TX</name>
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        <balance>71000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>70228.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <balance>205000.00000000</balance>
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        <valUSD>196933.84000000</valUSD>
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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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        <balance>529000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Auth</name>
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        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Auth</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Auth</name>
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        <name>Military Installation Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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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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        <name>Mirada Community Development District</name>
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        <name>Mississippi Development Bank</name>
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        <name>Mississippi Home Corp.</name>
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        <name>Montgomery County Higher Education and Health Authority</name>
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        <name>County of Montgomery TX</name>
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        <name>Morgan Hill Metropolitan District No. 3</name>
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        <curCd>USD</curCd>
        <valUSD>484997.84000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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        <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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        <valUSD>950140.20000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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 2022</title>
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          <isin value="US66173PAF36"/>
          <other otherDesc="Inhouse Asset ID" value="1200365"/>
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        <curCd>USD</curCd>
        <valUSD>210847.30000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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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 2022</title>
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          <isin value="US66173PAG19"/>
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        <balance>1395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1440538.94000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North River Ranch Community Development District</name>
        <lei>N/A</lei>
        <title>North River Ranch Community Development District, Series 2020 A-1</title>
        <cusip>662008AB7</cusip>
        <identifiers>
          <isin value="US662008AB71"/>
          <other otherDesc="Inhouse Asset ID" value="1123007"/>
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        <balance>855000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>855347.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>North River Ranch Community Development District</name>
        <lei>N/A</lei>
        <title>North River Ranch Community Development District, Series 2020 A-1</title>
        <cusip>662008AC5</cusip>
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          <isin value="US662008AC54"/>
          <other otherDesc="Inhouse Asset ID" value="1123008"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1144786.13000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North River Ranch Improvement Stewardship District</name>
        <lei>N/A</lei>
        <title>North River Ranch Improvement Stewardship District, Series 2023 A-1</title>
        <cusip>66200PAG8</cusip>
        <identifiers>
          <isin value="US66200PAG81"/>
          <other otherDesc="Inhouse Asset ID" value="1245651"/>
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        <balance>4920000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5038108.04000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-01</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>North River Ranch Improvement Stewardship District</name>
        <lei>N/A</lei>
        <title>North River Ranch Improvement Stewardship District, Series 2023 A</title>
        <cusip>66200PAM5</cusip>
        <identifiers>
          <isin value="US66200PAM59"/>
          <other otherDesc="Inhouse Asset ID" value="1307534"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1498682.36000000</valUSD>
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        <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>6.70000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>North Texas Tollway Authority, Series 2011 B</title>
        <cusip>66285WHD1</cusip>
        <identifiers>
          <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>4133526.00000000</valUSD>
        <pctVal>0.086165935745</pctVal>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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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>12138735.00000000</valUSD>
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        <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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        <securityLending>
          <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>4426969.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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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        <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>
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        <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>924661.41000000</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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        <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>
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          <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>2669937.02000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.20000000</annualizedRt>
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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>
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          <isin value="US66668PAB40"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1567402.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <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>66668PAC2</cusip>
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          <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>2055836.60000000</valUSD>
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        <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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          <isCashCollateral>N</isCashCollateral>
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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>
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          <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>1070415.70000000</valUSD>
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        <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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      <invstOrSec>
        <name>City of Oak Point TX</name>
        <lei>N/A</lei>
        <title>City of Oak Point, Series 2020</title>
        <cusip>67176TAL7</cusip>
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          <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>288605.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <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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        <name>Orange Blossom Groves Community Development District</name>
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      <invstOrSec>
        <name>Oregon State Facilities Authority</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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        <name>Palm Beach County Health Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Palm Coast Park Community Development District</name>
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        <name>Palm Coast 145 Community Development District</name>
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      <invstOrSec>
        <name>Palm Gate Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-15</maturityDt>
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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>Parrish Lakes II Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Peace Creek Village Community Development District</name>
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      <invstOrSec>
        <name>Peace Crossing Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Peace Crossing Community Development District</name>
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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>Pecan Public Facility Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pennsylvania Turnpike Commission</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pennsylvania Turnpike Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Philadelphia Authority for Industrial Development</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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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Pilot Point TX</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Raindance Metropolitan District No. 1 Non-Potable Water System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ranches at Lake Mcleod Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Red Oak TX</name>
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        <name>Red River Health Facilities Development Corp.</name>
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        <name>City of Reno NV</name>
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        <name>Reserve at Van Oaks Community Development District</name>
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        <name>Reserve at Van Oaks Community Development District</name>
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      <invstOrSec>
        <name>Reunion East Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
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      <invstOrSec>
        <name>Reunion East Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rhode Island Health and Educational Building Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ridge at Apopka Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Ridge at Apopka 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>River Landing Community Development District</name>
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        <name>River Landing Community Development District</name>
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      <invstOrSec>
        <name>River Landing Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
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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>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>River Place on the St. Lucie Community Development District</name>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2010-05-01</maturityDt>
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          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>Rivers Edge II Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>Rivington Community Development District</name>
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        <name>Rivington 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>City of Rochester MN</name>
        <lei>549300006EX3INSHXA95</lei>
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        <name>Silicon Valley Tobacco Securitization Authority</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>Sorrento Pines Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>STC Metropolitan District No. 2</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stoneybrook South Community Development District</name>
        <lei>N/A</lei>
        <title>Stoneybrook South at Championsgate Community Development District, Series 2020</title>
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        <curCd>USD</curCd>
        <valUSD>501374.75000000</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>2030-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Stoneybrook South Community Development District</name>
        <lei>N/A</lei>
        <title>Stoneybrook South at Championsgate Community Development District, Series 2020</title>
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          <isin value="US86202RAK14"/>
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        <curCd>USD</curCd>
        <valUSD>983040.80000000</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>2040-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Stoneybrook South Community Development District</name>
        <lei>N/A</lei>
        <title>Stoneybrook South at Championsgate Community Development District, Series 2020</title>
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          <isin value="US86202RAL96"/>
          <other otherDesc="Inhouse Asset ID" value="1123611"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1307839.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Stoneybrook North Community Development District</name>
        <lei>N/A</lei>
        <title>Stoneybrook North Community Development District, Series 2022</title>
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        <identifiers>
          <isin value="US86202UAG31"/>
          <other otherDesc="Inhouse Asset ID" value="1216912"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1315199.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Stoneybrook South at Championsgate Community Development District</name>
        <lei>N/A</lei>
        <title>Stoneybrook South at Championsgate Community Development District, Series 2023</title>
        <cusip>86203JAJ1</cusip>
        <identifiers>
          <isin value="US86203JAJ16"/>
          <other otherDesc="Inhouse Asset ID" value="1240282"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>82826.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>
      <invstOrSec>
        <name>Stoneybrook South at Championsgate Community Development District</name>
        <lei>N/A</lei>
        <title>Stoneybrook South at Championsgate Community Development District, Series 2023</title>
        <cusip>86203JAK8</cusip>
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          <isin value="US86203JAK88"/>
          <other otherDesc="Inhouse Asset ID" value="1240283"/>
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        <balance>395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>425617.12000000</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>2043-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</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>
      <invstOrSec>
        <name>Stoneybrook South at Championsgate Community Development District</name>
        <lei>N/A</lei>
        <title>Stoneybrook South at Championsgate Community Development District, Series 2023</title>
        <cusip>86203JAL6</cusip>
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          <isin value="US86203JAL61"/>
          <other otherDesc="Inhouse Asset ID" value="1240271"/>
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        <balance>390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>408159.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Storey Creek Community Development District</name>
        <lei>N/A</lei>
        <title>Storey Creek Community Development District, Series 2022</title>
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          <isin value="US86216CAF95"/>
          <other otherDesc="Inhouse Asset ID" value="1203402"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>257774.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Storey Creek Community Development District</name>
        <lei>N/A</lei>
        <title>Storey Creek Community Development District, Series 2022</title>
        <cusip>86216CAG7</cusip>
        <identifiers>
          <isin value="US86216CAG78"/>
          <other otherDesc="Inhouse Asset ID" value="1203403"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>674683.17000000</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>2042-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Storey Creek Community Development District</name>
        <lei>N/A</lei>
        <title>Storey Creek Community Development District, Series 2022</title>
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          <isin value="US86216CAH51"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1007966.60000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Storey Creek Community Development District</name>
        <lei>N/A</lei>
        <title>Storey Creek Community Development District, Series 2024</title>
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          <isin value="US86216CAJ18"/>
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        <balance>230000.00000000</balance>
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        <valUSD>236672.44000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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      <invstOrSec>
        <name>Storey Creek Community Development District</name>
        <lei>N/A</lei>
        <title>Storey Creek Community Development District, Series 2024</title>
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          <isin value="US86216CAK80"/>
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        <balance>650000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Storey Creek Community Development District</name>
        <lei>N/A</lei>
        <title>Storey Creek Community Development District, Series 2024</title>
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          <isin value="US86216CAL63"/>
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        <balance>810000.00000000</balance>
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        <valUSD>828370.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Storey Drive Community Development District</name>
        <lei>N/A</lei>
        <title>Storey Drive Community Development District, Series 2022</title>
        <cusip>86216HAA9</cusip>
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          <isin value="US86216HAA95"/>
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        <balance>80000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.55000000</annualizedRt>
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      <invstOrSec>
        <name>Storey Drive Community Development District</name>
        <lei>N/A</lei>
        <title>Storey Drive Community Development District, Series 2022</title>
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          <isin value="US86216HAB78"/>
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        <balance>375000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Storey Drive Community Development District</name>
        <lei>N/A</lei>
        <title>Storey Drive Community Development District, Series 2022</title>
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          <isin value="US86216HAC51"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>804904.92000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Storey Park Community Development District</name>
        <lei>N/A</lei>
        <title>Storey Park Community Development District, Series 2021</title>
        <cusip>86216RAP4</cusip>
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          <isin value="US86216RAP47"/>
          <other otherDesc="Inhouse Asset ID" value="1148352"/>
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        <balance>230000.00000000</balance>
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        <name>Sunbridge Stewardship District</name>
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        <name>Tern Bay Community Development District</name>
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        <name>Terra Lago Community Development District</name>
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        <name>Terra Lago Community Development District</name>
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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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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>Terreno Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>3rd and Havana Metropolitan District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Three Rivers Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Timber Creek Southwest 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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      <invstOrSec>
        <name>Tobacco Settlement Financing Corp.</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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        <name>Tobacco Settlement Financing Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tohoqua Community Development District</name>
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        <name>Tolomato Community Development District</name>
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        <name>Tolomato Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Tomball TX</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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        <name>Towns at Woodsdale Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Towns at Woodsdale Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tradition Community Development District No. 9</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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          <annualizedRt>2.70000000</annualizedRt>
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        <name>Trails at Crowfoot Metropolitan District No. 3</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Travis County Development Authority</name>
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      <invstOrSec>
        <name>Trevesta Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Triple Creek Community Development District</name>
        <lei>N/A</lei>
        <title>Triple Creek Community Development District, Series 2021</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Triple Creek Community Development District</name>
        <lei>N/A</lei>
        <title>Triple Creek Community Development District, Series 2021</title>
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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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        <name>V-Dana Community Development District</name>
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      <invstOrSec>
        <name>City of Valparaiso IN</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Varrea South Community Development District</name>
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        <name>Vanguard Tax-Exempt Bond Index ETF</name>
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        <name>City of Venus TX</name>
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        <name>Verano No. 2 Community Development District</name>
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        <name>Verano No. 2 Community Development District</name>
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        <name>Verano No. 4 Community Development District</name>
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        <name>Viera Stewardship District</name>
        <lei>N/A</lei>
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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>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Village Metropolitan District (The)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Village Community Development District No. 14</name>
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          <isin value="US92708JAE01"/>
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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>Villamar Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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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>Villamar Community Development District</name>
        <lei>N/A</lei>
        <title>Villamar Community Development District, Series 2022</title>
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          <isin value="US92715KAM09"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>74845.13000000</valUSD>
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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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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Villamar Community Development District</name>
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        <title>Villamar Community Development District, Series 2024</title>
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          <isin value="US92715KAV08"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Villamar Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US92715KAW80"/>
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        <balance>495000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Villages of Glen Creek Community Development District</name>
        <lei>N/A</lei>
        <title>Villages of Glen Creek Community Development District, Series 2022</title>
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          <isin value="US92716AAJ88"/>
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        <issuerCat>MUN</issuerCat>
        <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>Villages of Glen Creek Community Development District</name>
        <lei>N/A</lei>
        <title>Villages of Glen Creek Community Development District, Series 2022</title>
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        <balance>1170000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <valUSD>510041.10000000</valUSD>
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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>West Hillcrest Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>West Meadow Metropolitan District</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <name>West Port Community Development District</name>
        <lei>N/A</lei>
        <title>West Port Community Development District, Series 2020</title>
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        <valUSD>402416.19000000</valUSD>
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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>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>West Port Community Development District</name>
        <lei>N/A</lei>
        <title>West Port Community Development District, Series 2020</title>
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          <isin value="US95549GAG73"/>
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        <balance>1085000.00000000</balance>
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        <valUSD>992456.23000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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        <lei>N/A</lei>
        <title>West Port Community Development District, Series 2021</title>
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          <isin value="US95549GAJ13"/>
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        <balance>55000.00000000</balance>
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        <valUSD>54896.04000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
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        <valUSD>1309812.34000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>West Villages Improvement District</name>
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        <title>West Villages Improvement District, Series 2021</title>
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          <isin value="US956454BS01"/>
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        <valUSD>54880.55000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isin value="US956454BT83"/>
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        <valUSD>192303.38000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US956454BU56"/>
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        <valUSD>698155.12000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US956454BW13"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>West Villages Improvement District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-01</maturityDt>
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        <valUSD>703948.67000000</valUSD>
        <pctVal>0.014674250474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health &amp; Educational Facilities Authority, Series 2024</title>
        <cusip>97712JJX2</cusip>
        <identifiers>
          <isin value="US97712JJX28"/>
          <other otherDesc="Inhouse Asset ID" value="1367483"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1044987.00000000</valUSD>
        <pctVal>0.021783407845</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Woodland Crossing Community Development District</name>
        <lei>N/A</lei>
        <title>Woodland Crossing Community Development District, Series 2025</title>
        <cusip>979583AC5</cusip>
        <identifiers>
          <isin value="US979583AC55"/>
          <other otherDesc="Inhouse Asset ID" value="1464253"/>
        </identifiers>
        <balance>830000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>868959.70000000</valUSD>
        <pctVal>0.018114008639</pctVal>
        <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>5.87500000</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>Woodland Crossing Community Development District</name>
        <lei>N/A</lei>
        <title>Woodland Crossing Community Development District, Series 2025</title>
        <cusip>979583AD3</cusip>
        <identifiers>
          <isin value="US979583AD39"/>
          <other otherDesc="Inhouse Asset ID" value="1464254"/>
        </identifiers>
        <balance>1760000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1813857.58000000</valUSD>
        <pctVal>0.037810996154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Woodland Ranch Estates Community Development District</name>
        <lei>N/A</lei>
        <title>Woodland Ranch Estates Community Development District, Series 2025</title>
        <cusip>97967NAC0</cusip>
        <identifiers>
          <isin value="US97967NAC02"/>
          <other otherDesc="Inhouse Asset ID" value="1438698"/>
        </identifiers>
        <balance>715000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>722523.73000000</valUSD>
        <pctVal>0.015061459222</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>3827876.72000000</valUSD>
        <pctVal>0.079794485264</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>5291406.12000000</valUSD>
        <pctVal>0.110302671312</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>44893.42000000</valUSD>
        <pctVal>0.000935831428</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>132134.48000000</valUSD>
        <pctVal>0.002754425909</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>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>19729608.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19404904.03000000</valUSD>
        <pctVal>0.404507365816</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>2835000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2869705.22000000</valUSD>
        <pctVal>0.059820800835</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>9122658.00000000</valUSD>
        <pctVal>0.190167513898</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>2026-03-30</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>
</edgarSubmission>
