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      <invstOrSec>
        <name>Chester County Industrial Development Authority</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2037-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Clifton Higher Education Finance Corp.</name>
        <lei>N/A</lei>
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          <isin value="US187145KE60"/>
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          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Multifamily Housing Revenue Bond Pass-Through Certificates</name>
        <lei>N/A</lei>
        <title>Multi-Family Housing, Bond Pass-Through Certificates, Grand Reserve Apartments</title>
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          <isin value="US62544MCD48"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.95000100</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Louisville/Jefferson County Metropolitan Government</name>
        <lei>N/A</lei>
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          <isin value="US54659LCD47"/>
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          <maturityDt>2047-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Boerne School District</name>
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          <isin value="US097067ML31"/>
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          <maturityDt>2029-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Connecticut State Higher Education Supplement Loan Authority</name>
        <lei>N/A</lei>
        <title>Connecticut State Higher Education Supplemental Loan Authority, CHESLA Loan Program</title>
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          <isin value="US207743UY90"/>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Central Texas Regional Mobility Authority</name>
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          <isin value="US155498ER55"/>
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          <maturityDt>2046-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Higher Education Student Assistance Authority</name>
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          <isin value="US646080RY95"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Illinois Housing Development Authority</name>
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        <name>Midtown Redevelopment Authority</name>
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        <name>New Jersey Housing &amp; Mortgage Finance Agency</name>
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        <name>New York State Dormitory Authority</name>
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        <name>King County Housing Authority</name>
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        <name>Eastern Municipal Water District Financing Authority</name>
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        <name>University of Arizona (The)</name>
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        <name>New Jersey Housing &amp; Mortgage Finance Agency</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Pennsylvania Higher Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>Pennsylvania Higher Educational Facilities Authority</title>
        <cusip>70917S6Q1</cusip>
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          <isin value="US70917S6Q15"/>
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        <curCd>USD</curCd>
        <valUSD>202597.50000000</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>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Massachusetts Water Resources Authority</name>
        <lei>549300GBS2G3YGHOYO19</lei>
        <title>Massachusetts Water Resources Authority</title>
        <cusip>576049W22</cusip>
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          <isin value="US576049W226"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2773200.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Connecticut Housing Finance Authority</name>
        <lei>5493003DXX0NRJKSH186</lei>
        <title>Connecticut Housing Finance Authority, Home Mortgage Finance Program</title>
        <cusip>20775CZ56</cusip>
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          <isin value="US20775CZ568"/>
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        <balance>1220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1252037.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Minnesota Housing Finance Agency</name>
        <lei>549300R89XDTQBK4GE22</lei>
        <title>Minnesota Housing Finance Agency, Homeownership Finance, Mortgage-Backed Securities Program</title>
        <cusip>60416QDL5</cusip>
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          <isin value="US60416QDL59"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45863.55000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Saginaw County Economic Development Corp.</name>
        <lei>N/A</lei>
        <title>Saginaw County Economic Development Corp., BGI South LLC-Recovery Zone</title>
        <cusip>78671LAB3</cusip>
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          <isin value="US78671LAB36"/>
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        <balance>380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>380497.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts Housing Finance Agency</name>
        <lei>549300NLJBK1VP6K2K81</lei>
        <title>Massachusetts Housing Finance Agency</title>
        <cusip>57587A2Z0</cusip>
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          <isin value="US57587A2Z06"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1369112.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>South Dakota Housing Development Authority</name>
        <lei>549300G853EK61667C18</lei>
        <title>South Dakota Housing Development Authority, Homeownership Mortgage, Series 2015D</title>
        <cusip>83756CLL7</cusip>
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          <isin value="US83756CLL71"/>
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        <balance>1315000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1400882.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chester County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Chester County Industrial Development Authority, Longwood Gardens Project</title>
        <cusip>165588DX9</cusip>
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          <isin value="US165588DX90"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>302505.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Housing &amp; Mortgage Finance Agency</name>
        <lei>5493002ONULJL0FIGU24</lei>
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        <cusip>646127ER7</cusip>
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          <isin value="US646127ER78"/>
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        <balance>365000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>365000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.58000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Connecticut Housing Finance Authority</name>
        <lei>5493003DXX0NRJKSH186</lei>
        <title>Connecticut Housing Finance Authority, Housing Mortgage Finance Program</title>
        <cusip>20775CVJ0</cusip>
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          <isin value="US20775CVJ07"/>
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        <balance>980000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1055861.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Iowa Student Loan Liquidity Corp.</name>
        <lei>549300FO1LWVSZKGJK70</lei>
        <title>Iowa Student Loan Liquidity Corp., Student Loan</title>
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          <isin value="US462590KB52"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1141710.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Colorado School of Mines</name>
        <lei>549300TQMFMDZTM5HY46</lei>
        <title>Colorado School of Mines</title>
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          <isin value="US19658QFE26"/>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.74800200</annualizedRt>
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      <invstOrSec>
        <name>Johnson City Central School District</name>
        <lei>N/A</lei>
        <title>Johnson City Central School District</title>
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          <isin value="US478238HP63"/>
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          <maturityDt>2020-08-07</maturityDt>
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          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>Guam Government Waterworks Authority</name>
        <lei>N/A</lei>
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        <invCountry>GU</invCountry>
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        <name>Philadelphia Authority for Industrial Development</name>
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          <maturityDt>2023-12-01</maturityDt>
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      <invstOrSec>
        <name>FYI Properties</name>
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      <invstOrSec>
        <name>King County Housing Authority</name>
        <lei>N/A</lei>
        <title>King County Housing Authority, Highland Village Project</title>
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          <maturityDt>2028-01-01</maturityDt>
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        <name>Indiana Health Facility Financing Authority</name>
        <lei>549300P2SI60HN6M7V39</lei>
        <title>Indiana Health Facility Financing Authority, Ascension Health Credit Group</title>
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      <invstOrSec>
        <name>New Jersey Health Care Facilities Financing Authority</name>
        <lei>N/A</lei>
        <title>New Jersey Health Care Facilities Financing Authority, University Hospital Issue</title>
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          <isin value="US64579F7J65"/>
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          <maturityDt>2026-07-01</maturityDt>
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      <invstOrSec>
        <name>City of Portland ME General Airport Revenue</name>
        <lei>N/A</lei>
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          <isin value="US736564EG62"/>
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          <maturityDt>2031-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Maine State Housing Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>School Board of Miami-Dade County (The)</name>
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        <name>North Carolina Housing Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <title>Wisconsin Health and Educational Facilities Authority, Marshfield Clinic Health System, Inc.</title>
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          <isin value="US97712DZU35"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Vermont Housing Finance Agency</name>
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          <maturityDt>2042-11-01</maturityDt>
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        <name>Missouri Housing Development Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>IDK PARTNERS III</name>
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        <name>Missouri Housing Development Commission</name>
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        <name>Eastern Michigan University</name>
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        <name>Connecticut Housing Finance Authority</name>
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      <invstOrSec>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Madison County Hospital Authority No. 1</name>
        <lei>N/A</lei>
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          <isin value="US557352FL03"/>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Columbus Medical Center Hospital Authority</name>
        <lei>N/A</lei>
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          <isin value="US199124BR82"/>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <title>Wisconsin Health and Educational Facilities Authority, Agnesian Healthcare, Inc.</title>
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          <isin value="US97712DXD38"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
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        <name>Pennsylvania Housing Finance Agency</name>
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        <title>Pennsylvania Housing Finance Agency, Single Family Mortgage</title>
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          <maturityDt>2046-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Indianapolis Local Public Improvement Bond Bank</name>
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        <name>South Dakota Housing Development Authority</name>
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      <invstOrSec>
        <name>Will County Forest Preserve District</name>
        <lei>N/A</lei>
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      <invstOrSec>
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          <isin value="US045269AQ01"/>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Ohio Water Development Authority Water Pollution Control Loan Fund</name>
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          <isin value="US67766WXH05"/>
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        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>University of Akron (The)</name>
        <lei>N/A</lei>
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        <cusip>914023MX1</cusip>
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          <isin value="US914023MX10"/>
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          <maturityDt>2030-01-01</maturityDt>
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      <invstOrSec>
        <name>Miami Beach Redevelopment Agency</name>
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          <isin value="US593237FF23"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <name>Florida Housing Finance Corp.</name>
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        <name>Pennsylvania Housing Finance Agency</name>
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          <maturityDt>2046-10-01</maturityDt>
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        <name>Minnesota Office of Higher Education</name>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health and Educational Facilities Authority, Franciscan Sisters of Christian Charity Sponsored Ministries, Inc., Series 2017A</title>
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        <name>Broward County FL Water &amp; Sewer Utility Revenue</name>
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        <name>Wyoming Community Development Authority</name>
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        <name>North Dakota Housing Finance Agency</name>
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        <name>Mississippi Home Corp.</name>
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        <title>Mississippi Home Corp., Home Ownership Mortgage</title>
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      <invstOrSec>
        <name>Massachusetts Clean Water Trust (The)</name>
        <lei>549300SYPEROLSQU0261</lei>
        <title>Massachusetts Clean Water Trust (The), Pool Program</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Maine State Housing Authority</name>
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      <invstOrSec>
        <name>State of New York Mortgage Agency</name>
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          <isin value="US64988P6M30"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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          <isin value="US97712DYD29"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Pflugerville Independent School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Maine State Housing Authority</name>
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      <invstOrSec>
        <name>Alaska Housing Finance Corp.</name>
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        <title>Alaska Housing Finance Corp., General Mortgage, Series 2016A</title>
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      <invstOrSec>
        <name>Massachusetts Housing Finance Agency</name>
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        <title>Massachusetts Housing Finance Agency, Single Family Housing</title>
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          <maturityDt>2044-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Utah Associated Municipal Power Systems</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Southwestern Illinois Development Authority</name>
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        <name>Southwestern Illinois Development Authority</name>
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        <name>University of Arizona (The)</name>
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        <name>Indiana Housing &amp; Community Development Authority</name>
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        <name>City of Aurora IL</name>
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        <name>Pennsylvania State University (The)</name>
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        <name>Guam Government Waterworks Authority</name>
        <lei>N/A</lei>
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        <name>Pasadena Independent School District</name>
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        <name>Capital Area Finance Authority</name>
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        <name>New Jersey Educational Facilities Authority</name>
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        <name>Connecticut Housing Finance Authority</name>
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        <title>Connecticut Housing Finance Authority, Home Mortgage Finance Program</title>
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        <name>Mississippi Home Corp.</name>
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        <name>Washington Metropolitan Area Transit Authority</name>
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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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        <name>American Municipal Power, Inc.</name>
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        <name>City of Manchester NH</name>
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        <name>District of Columbia Water &amp; Sewer Authority</name>
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      <invstOrSec>
        <name>City of Tucson AZ Water System Revenue</name>
        <lei>N/A</lei>
        <title>City of Tucson, Water System</title>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isin value="US686087LC96"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Palm Beach County Health Facilities Authority</name>
        <lei>N/A</lei>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>University of North Carolina at Charlotte (The)</name>
        <lei>N/A</lei>
        <title>University of North Carolina at Charlotte (The)</title>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Texas State Affordable Housing Corp.</name>
        <lei>N/A</lei>
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          <isin value="US88271HGM51"/>
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          <maturityDt>2049-03-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>Aspen Fire Protection District</name>
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          <isin value="US045269AS66"/>
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          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Irving Hospital Authority</name>
        <lei>N/A</lei>
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          <isin value="US463794JT57"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of McLean ND</name>
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        <name>Will County Forest Preserve District</name>
        <lei>N/A</lei>
        <title>Will County Forest Preserve District</title>
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        <name>Texas Water Development Board</name>
        <lei>N/A</lei>
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          <maturityDt>2023-04-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Utah Transit Authority</name>
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          <maturityDt>2029-06-15</maturityDt>
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        <name>Lee Memorial Health System</name>
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        <name>Madison County Hospital Authority No. 1</name>
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        <name>Georgia Housing &amp; Finance Authority</name>
        <lei>549300I628IMF9PWV724</lei>
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        <name>Delaware State Housing Authority</name>
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        <name>Department of Veterans Affairs Veteran's Farm &amp; Home Purchase Program</name>
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        <name>Vermont Student Assistance Corp.</name>
        <lei>549300VHYVRSKNFRSZ91</lei>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Vermont Housing Finance Agency</name>
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      <invstOrSec>
        <name>University of Connecticut</name>
        <lei>N/A</lei>
        <title>University of Connecticut</title>
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          <isin value="US914233U742"/>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chester County Industrial Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US165588DV35"/>
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        <name>Southwestern Illinois Development Authority</name>
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          <isin value="US84552YQW48"/>
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        <curCd>USD</curCd>
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          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>University of North Carolina at Charlotte (The)</name>
        <lei>N/A</lei>
        <title>University of North Carolina at Charlotte (The)</title>
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          <isin value="US914716N436"/>
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          <maturityDt>2025-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northside Independent School District</name>
        <lei>N/A</lei>
        <title>Northside Independent School District</title>
        <cusip>66702RWD0</cusip>
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          <isin value="US66702RWD06"/>
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        <valUSD>361536.00000000</valUSD>
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          <maturityDt>2049-08-01</maturityDt>
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          <annualizedRt>1.59999800</annualizedRt>
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      <invstOrSec>
        <name>Oklahoma Housing Finance Agency</name>
        <lei>N/A</lei>
        <title>Oklahoma Housing Finance Agency</title>
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          <isin value="US67886UAL52"/>
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          <maturityDt>2022-07-01</maturityDt>
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        <name>State of Texas</name>
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        <name>Lakota Local School District/Butler County</name>
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        <name>City of Aurora IL</name>
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        <name>Colorado Housing and Finance Authority</name>
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        <name>Vermont Student Assistance Corp.</name>
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        <name>Shelby County Health Educational &amp; Housing Facilities Board</name>
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        <name>Ohio Higher Educational Facility Commission</name>
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        <name>Mississippi Hospital Equipment &amp; Facilities Authority</name>
        <lei>549300DW2GVUIGE04396</lei>
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          <maturityDt>2022-09-01</maturityDt>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health and Educational Facilities Authority, Agnesian Healthcare, Inc.</title>
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          <maturityDt>2024-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Colorado Educational &amp; Cultural Facilities Authority</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Eastern Municipal Water District Financing Authority</name>
        <lei>N/A</lei>
        <title>Eastern Municipal Water District Financing Authority</title>
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          <isin value="US27677SBK87"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Polk County School District</name>
        <lei>549300N07FMPTRZO0044</lei>
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          <isin value="US731125LC29"/>
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        <curCd>USD</curCd>
        <valUSD>628227.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Baltimore MD</name>
        <lei>N/A</lei>
        <title>County of Baltimore</title>
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        <identifiers>
          <isin value="US059136BH37"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>495477.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ohio Water Development Authority</name>
        <lei>549300QMBH1DMY67FZ74</lei>
        <title>Ohio Water Development Authority, Water Pollution Control Loan Fund, Series 2019A</title>
        <cusip>677660UZ3</cusip>
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          <isin value="US677660UZ35"/>
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        <balance>2645000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3576357.40000000</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>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>Massachusetts Water Resources Authority</name>
        <lei>549300GBS2G3YGHOYO19</lei>
        <title>Massachusetts Water Resources Authority</title>
        <cusip>576049V98</cusip>
        <identifiers>
          <isin value="US576049V988"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4059120.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>University of Arizona (The)</name>
        <lei>N/A</lei>
        <title>University of Arizona (The)</title>
        <cusip>040484WK9</cusip>
        <identifiers>
          <isin value="US040484WK92"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>940462.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>Tennessee Housing Development Agency</name>
        <lei>N/A</lei>
        <title>Tennessee Housing Development Agency, Residential Finance Program</title>
        <cusip>880461CE6</cusip>
        <identifiers>
          <isin value="US880461CE66"/>
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        <balance>145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>151506.15000000</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>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>State of New York Mortgage Agency</name>
        <lei>549300ZQWNLLIG564027</lei>
        <title>New York Mortgage Agency, Homeowner Mortgage</title>
        <cusip>649883L29</cusip>
        <identifiers>
          <isin value="US649883L299"/>
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        <balance>985000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1049399.30000000</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>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Southwestern Illinois Development Authority</name>
        <lei>549300B1KLLJ8NU5XK71</lei>
        <title>Southwestern Illinois Development Authority</title>
        <cusip>84552YQX2</cusip>
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          <isin value="US84552YQX21"/>
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        <balance>390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>503376.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Mexico Mortgage Finance Authority</name>
        <lei>N/A</lei>
        <title>New Mexico Mortgage Finance Authority, Single-Family Mortgage Program</title>
        <cusip>647201FY3</cusip>
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          <isin value="US647201FY34"/>
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        <balance>1225000.00000000</balance>
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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>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>North Dakota Housing Finance Agency</name>
        <lei>549300DVQAGW0B16JX70</lei>
        <title>North Dakota Housing Finance Agency, Home Mortgage Finance Program, Series 2017D</title>
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          <isin value="US658909NJ19"/>
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          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington Higher Education Facilities Authority</name>
        <lei>N/A</lei>
        <title>Washington Higher Education Facilities Authority, Seattle Pacific University Project</title>
        <cusip>9397812M1</cusip>
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          <isin value="US9397812M19"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Texas Department of Housing &amp; Community Affairs</name>
        <lei>549300J3RRLLZZN4WP77</lei>
        <title>Texas Department of Housing and Community Affairs, Residential Mortgage</title>
        <cusip>882750LZ3</cusip>
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          <isin value="US882750LZ33"/>
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        <balance>145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>148304.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Allegheny County Hospital Development Authority</name>
        <lei>54930046B973R604OG22</lei>
        <title>Allegheny County Hospital Development Authority, Medical Center</title>
        <cusip>01728A4T0</cusip>
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          <isin value="US01728A4T09"/>
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        <balance>600000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Indiana Housing &amp; Community Development Authority</name>
        <lei>549300QRKDYVNHT1OE86</lei>
        <title>Indiana Housing and Community Development Authority, Home First Mortgage</title>
        <cusip>45506ABL4</cusip>
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          <isin value="US45506ABL44"/>
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        <balance>50000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tioga Central School District</name>
        <lei>N/A</lei>
        <title>Tioga Central School District</title>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2020-08-14</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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          <maturityDt>2026-07-01</maturityDt>
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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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          <maturityDt>2047-07-01</maturityDt>
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        <name>New Jersey Health Care Facilities Financing Authority</name>
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        <title>New Jersey Health Care Facilities Financing Authority, University Hospital Issue</title>
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          <isin value="US64579F7F44"/>
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          <maturityDt>2023-07-01</maturityDt>
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        <name>St Johns County School Board</name>
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        <name>Michigan State Housing Development Authority</name>
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          <maturityDt>2047-06-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>Clear Creek Independent School District</name>
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        <name>Kentucky Higher Education Student Loan Corp.</name>
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        <name>University of North Carolina at Charlotte (The)</name>
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        <name>King County Housing Authority</name>
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          <maturityDt>2029-01-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Washington Health Care Facilities Authority</name>
        <lei>549300ZVPWQIL3N5TL85</lei>
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          <isin value="US93978HTN51"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
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        <title>Illinois Finance Authority, Healthcare Enterprises, Inc.</title>
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          <isin value="US45204EYZ59"/>
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        <balance>365000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>421848.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Colorado Educational &amp; Cultural Facilities Authority</name>
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        <title>Colorado Educational and Cultural Facilities Authority, University Corp. for Atmospheric Research Project</title>
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          <isin value="US19645R4K40"/>
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        <curCd>USD</curCd>
        <valUSD>504493.30000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Iowa Student Loan Liquidity Corp.</name>
        <lei>549300FO1LWVSZKGJK70</lei>
        <title>Iowa Student Loan Liquidity Corp., Student Loan</title>
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          <isin value="US462590MR86"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>362652.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>King County Housing Authority</name>
        <lei>N/A</lei>
        <title>King County Housing Authority, Highland Village Project</title>
        <cusip>494762MU8</cusip>
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          <isin value="US494762MU86"/>
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        <balance>330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>402032.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Minnesota Housing Finance Agency</name>
        <lei>549300R89XDTQBK4GE22</lei>
        <title>Minnesota Housing Finance Agency, Residential Housing Finance</title>
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          <isin value="US60416SUC24"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>694239.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Port St. Lucie FL Utility System Revenue</name>
        <lei>N/A</lei>
        <title>City of Port St. Lucie, Utility Systems</title>
        <cusip>735352LR5</cusip>
        <identifiers>
          <isin value="US735352LR50"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5987150.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vermont Student Assistance Corp.</name>
        <lei>549300VHYVRSKNFRSZ91</lei>
        <title>Vermont Student Assistance Corp., Education Loan</title>
        <cusip>92428CKE3</cusip>
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          <isin value="US92428CKE39"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1100740.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gainesville &amp; Hall County Hospital Authority</name>
        <lei>N/A</lei>
        <title>Gainesville and Hall County Hospital Authority, Northeast Georgia Health System, Inc. Project</title>
        <cusip>362762LH7</cusip>
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          <isin value="US362762LH75"/>
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        <balance>860000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1014516.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chester County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Chester County Industrial Development Authority, Longwood Gardens Project</title>
        <cusip>165588DU5</cusip>
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          <isin value="US165588DU51"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>564470.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Delaware State Health Facilities Authority</name>
        <lei>549300RXU7M05ZYSJG42</lei>
        <title>Delaware State Health Facilities Authority, Beebe Medical Center Project</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chester County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Chester County Industrial Development Authority, Longwood Gardens Project</title>
        <cusip>165588DY7</cusip>
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          <isin value="US165588DY73"/>
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        <balance>200000.00000000</balance>
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        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington State Housing Finance Commission</name>
        <lei>549300YL1HU59NREG764</lei>
        <title>Washington State Housing Finance Commission, Single-Family Program</title>
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          <maturityDt>2046-12-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Utah Housing Corp.</name>
        <lei>549300YXWQEI0S47WI02</lei>
        <title>Utah Housing Corp., Single Family Mortgage</title>
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          <isin value="US9174366Y83"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Philadelphia Authority for Industrial Development</name>
        <lei>549300DIY68KQZEW7M79</lei>
        <title>Philadelphia Authority for Industrial Development, City Service Agreement, Affordable Housing Preservation Programs Project</title>
        <cusip>71783DAS4</cusip>
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          <isin value="US71783DAS45"/>
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          <maturityDt>2027-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Manchester NH</name>
        <lei>N/A</lei>
        <title>City of Manchester, School Facilities</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2024-06-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Town of Hilton Head Island SC</name>
        <lei>N/A</lei>
        <title>Town of Hilton Head Island, Beach Preservation Fee Pledge</title>
        <cusip>43284UCF5</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American Municipal Power, Inc.</name>
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          <isin value="US02765MAR34"/>
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        <curCd>USD</curCd>
        <valUSD>1036183.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>South Florida Water Management District</name>
        <lei>N/A</lei>
        <title>South Florida Water Management District</title>
        <cusip>83786PCR9</cusip>
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          <isin value="US83786PCR91"/>
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        <curCd>USD</curCd>
        <valUSD>2699460.00000000</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>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Authority</name>
        <lei>5493004WIZ1HV87IVF85</lei>
        <title>Louisiana Local Government Environmental Facilities and Community Development Authority, LCTCS Act 391 Project</title>
        <cusip>54628CCR1</cusip>
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          <isin value="US54628CCR16"/>
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        <curCd>USD</curCd>
        <valUSD>868145.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health &amp; Educational Facilities Authority</title>
        <cusip>97712D5T9</cusip>
        <identifiers>
          <isin value="US97712D5T92"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>290189.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Georgia Housing &amp; Finance Authority</name>
        <lei>549300I628IMF9PWV724</lei>
        <title>Georgia Housing and Finance Authority, Single Family Mortgage</title>
        <cusip>3735396T7</cusip>
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          <isin value="US3735396T70"/>
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        <balance>530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>569002.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dakota County Community Development Agency</name>
        <lei>N/A</lei>
        <title>Dakota County Community Development Agency, Single Family Mortgage, Mortgage-Backed Securities Program</title>
        <cusip>23410BCH2</cusip>
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          <isin value="US23410BCH24"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>127318.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Brazos Higher Education Authority, Inc.</name>
        <lei>N/A</lei>
        <title>Brazos Higher Education Authority, Inc.</title>
        <cusip>10623ABP7</cusip>
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          <isin value="US10623ABP75"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>593720.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health &amp; Educational Facilities Authority</title>
        <cusip>97712D5S1</cusip>
        <identifiers>
          <isin value="US97712D5S10"/>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>431277.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Educational Facilities Authority</name>
        <lei>549300UTOO4X537XXG70</lei>
        <title>New Jersey Educational Facilities Authority</title>
        <cusip>6460666A3</cusip>
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          <isin value="US6460666A35"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>409157.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Utah State Board of Regents</name>
        <lei>549300SAYC054T80UK17</lei>
        <title>Utah State Board of Regents, Student Fee and Housing System</title>
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          <isin value="US91754RML86"/>
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        <balance>3245000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3601430.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Illinois Housing Development Authority</name>
        <lei>54930053Z6M9JVHBQZ16</lei>
        <title>Illinois Housing Development Authority, Homeowner Mortgage</title>
        <cusip>45201YM87</cusip>
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          <isin value="US45201YM873"/>
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        <balance>755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>801341.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp., Delta Air Lines, Inc., Laguardia Airport Terminals C&amp;D Redevelopment Project</title>
        <cusip>650116CD6</cusip>
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          <isin value="US650116CD63"/>
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        <balance>1750000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Minnesota Housing Finance Agency</name>
        <lei>549300R89XDTQBK4GE22</lei>
        <title>Minnesota Housing Finance Agency, Residential Housing Finance</title>
        <cusip>60416SBE9</cusip>
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          <isin value="US60416SBE90"/>
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        <balance>50000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Iowa Finance Authority</name>
        <lei>549300NQVL49BTHOW391</lei>
        <title>Iowa Finance Authority, Single Family Mortgage-Backed Securities Program, Series C</title>
        <cusip>462467TZ4</cusip>
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          <isin value="US462467TZ48"/>
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        <balance>1570000.00000000</balance>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2047-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>County of Baltimore MD</name>
        <lei>N/A</lei>
        <title>County of Baltimore</title>
        <cusip>059151DA5</cusip>
        <identifiers>
          <isin value="US059151DA57"/>
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        <balance>600000.00000000</balance>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Connecticut Housing Finance Authority</name>
        <lei>5493003DXX0NRJKSH186</lei>
        <title>Connecticut Housing Finance Authority, Housing Mortgage Finance Program</title>
        <cusip>20775CQB3</cusip>
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          <isin value="US20775CQB36"/>
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        <balance>345000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
        <cusip>59261AZH3</cusip>
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          <isin value="US59261AZH30"/>
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        <balance>450000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2020-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Brazos Higher Education Authority, Inc.</name>
        <lei>N/A</lei>
        <title>Brazos Higher Education Authority, Inc.</title>
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          <isin value="US10623ABN28"/>
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        <balance>350000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Randolph NC</name>
        <lei>N/A</lei>
        <title>County of Randolph, Limited Obligation</title>
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          <isin value="US752598AV49"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1261170.00000000</valUSD>
        <pctVal>0.445665161115</pctVal>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Port Authority of New York &amp; New Jersey</name>
        <lei>54930006MR4KZ4W74Z83</lei>
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        <cusip>73358WZB3</cusip>
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          <isin value="US73358WZB35"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2349720.00000000</valUSD>
        <pctVal>0.830330837537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>Egg Harbor Township School District</name>
        <lei>N/A</lei>
        <title>Egg Harbor Township School District</title>
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          <isin value="US282317HH22"/>
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        <balance>1215000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1475884.80000000</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>2024-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Minneapolis/St. Paul Housing Finance Board/MN</name>
        <lei>N/A</lei>
        <title>Minneapolis/St. Paul Housing Finance Board, Single Family Mortgage, Mortgage-Backed Securities Program, City Living Home Programs</title>
        <cusip>603798AG4</cusip>
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          <isin value="US603798AG41"/>
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        <balance>49381.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49661.98000000</valUSD>
        <pctVal>0.017549271167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Connecticut State Higher Education Supplement Loan Authority</name>
        <lei>N/A</lei>
        <title>Connecticut State Higher Education Supplemental Loan Authority, CHESLA Loan Program</title>
        <cusip>207743NZ4</cusip>
        <identifiers>
          <isin value="US207743NZ49"/>
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        <curCd>USD</curCd>
        <valUSD>1530375.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Midtown Redevelopment Authority</name>
        <lei>N/A</lei>
        <title>Midtown Redevelopment Authority</title>
        <cusip>598076GU5</cusip>
        <identifiers>
          <isin value="US598076GU59"/>
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        <balance>365000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>443584.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Irving Hospital Authority</name>
        <lei>N/A</lei>
        <title>Irving Hospital Authority, Baylor Scott and White Medical Center, Series 2017A</title>
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        <identifiers>
          <isin value="US463794JU21"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>599025.00000000</valUSD>
        <pctVal>0.211680085267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>JPMorgan Trust II</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
