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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Metropolitan Government Nashville &amp; Davidson County Health &amp; Educational Facilities Bonds</name>
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        <valUSD>1193976.73000000</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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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Economic Development Authority</name>
        <lei>5493006JS6QWDVU4R678</lei>
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          <isin value="US64577XCF15"/>
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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>2030-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp.</title>
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          <isin value="US34061ULF39"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>222391.26000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>South Carolina State Housing Finance &amp; Development Authority</name>
        <lei>N/A</lei>
        <title>South Carolina State Housing Finance and Development Authority</title>
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          <isin value="US83712DYP58"/>
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        <balance>405000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>407736.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <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>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Lincoln Preparatory School Project</title>
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          <isin value="US546399KW50"/>
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        <balance>525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>471791.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Minnesota Office of Higher Education</name>
        <lei>N/A</lei>
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          <isin value="US60416MBR34"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>328131.57000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Will County Forest Preserve District</name>
        <lei>N/A</lei>
        <title>Will County Forest Preservation District, Limited Tax</title>
        <cusip>968661HX9</cusip>
        <identifiers>
          <isin value="US968661HX93"/>
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        <balance>1460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1649771.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Build NYC Resource Corp.</name>
        <lei>549300GROJFKMNLWEK84</lei>
        <title>Build NYC Resource Corp., Global Community Charter School</title>
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          <isin value="US12008ETE67"/>
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        <balance>640000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>642903.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, Equitable School Revolving Fund LLC</title>
        <cusip>04052FDK8</cusip>
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          <isin value="US04052FDK84"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>981405.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Philadelphia Authority for Industrial Development</name>
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        <title>Philadelphia Authority for Industrial Development, Philadelphia Electrical and Technology Charter School Project, Series 2021A</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, KIPP Nashville</title>
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          <isin value="US04052BSP03"/>
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        <name>Chester County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Chester County Industrial Development Authority, Longwood Gardens Project</title>
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          <isin value="US165588DW18"/>
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        <balance>250000.00000000</balance>
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          <maturityDt>2025-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>East Bay Municipal Utility District Water System Revenue</name>
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        <invCountry>US</invCountry>
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        <name>Lehigh County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Lehigh County Industrial Development Authority, Seven Generation Charter School</title>
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        <name>South Carolina Jobs-Economic Development Authority</name>
        <lei>5493006X47I9VG3DL112</lei>
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        <cusip>83704EAB0</cusip>
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          <annualizedRt>8.75000000</annualizedRt>
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        <name>California Community Housing Agency</name>
        <lei>N/A</lei>
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        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority, Springpoint Senior Living Project</title>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2027-01-01</maturityDt>
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      <invstOrSec>
        <name>Utah Associated Municipal Power Systems</name>
        <lei>N/A</lei>
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          <isin value="US917328SE79"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Jersey Educational Facilities Authority</name>
        <lei>549300UTOO4X537XXG70</lei>
        <title>New Jersey Educational Facilities Authority, Stevens Institute of Technology</title>
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          <isin value="US6460666B18"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lehigh County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Lehigh County Industrial Development Authority, Seven Generation Charter School</title>
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          <isin value="US52481MAA80"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Community Health Centers of The Central Coast, Inc.</title>
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          <isin value="US13048VUV88"/>
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        <curCd>USD</curCd>
        <valUSD>63016.13000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</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, Aspen View Academy Project</title>
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          <isin value="US19645UGD00"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28644.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Kipp Social Projects</title>
        <cusip>13059TGV5</cusip>
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          <isin value="US13059TGV52"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>118292.96000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Shelby County Health Educational &amp; Housing Facilities Board</name>
        <lei>N/A</lei>
        <title>Shelby County Health Educational and Housing Facilities Board, The Farms at Bailey Station Project</title>
        <cusip>82170KAE7</cusip>
        <identifiers>
          <isin value="US82170KAE73"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>955110.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northeast Ohio Medical University</name>
        <lei>N/A</lei>
        <title>Northeast Ohio Medical University, Series 2021A</title>
        <cusip>66433RBC1</cusip>
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          <isin value="US66433RBC16"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>147050.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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, Riderwood Village, Inc., Project</title>
        <cusip>059151CZ1</cusip>
        <identifiers>
          <isin value="US059151CZ18"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>491751.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>Massachusetts Development Finance Agency, Salem Community Corp.</title>
        <cusip>57584Y2T5</cusip>
        <identifiers>
          <isin value="US57584Y2T50"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>502389.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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>
        <cusip>93978TVD8</cusip>
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          <isin value="US93978TVD89"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99716.67000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Broome County Local Development Corp.</name>
        <lei>N/A</lei>
        <title>Broome County Local Development Corp., Good Shepherd Village at Endwell, Inc.</title>
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          <isin value="US114731BA93"/>
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        <balance>500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>New Jersey Housing &amp; Mortgage Finance Agency</name>
        <lei>5493002ONULJL0FIGU24</lei>
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          <isin value="US64613AAC62"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-10-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>Ohio Housing Finance Agency</name>
        <lei>549300K10X7VPG6JVX38</lei>
        <title>Ohio Housing Finance Agency, Mortgage-Backed Securities Program</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <name>New York City Municipal Water Finance Authority</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
        <title>New York City Municipal Water Finance Authority Fiscal Year 2022</title>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2045-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Minnesota Housing Finance Agency</name>
        <lei>549300R89XDTQBK4GE22</lei>
        <title>Minnesota Housing Finance Agency, Non Profit Housing, State Appropriation</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2025-08-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>City of Detroit MI</name>
        <lei>549300BQRJP7MKKHOY28</lei>
        <title>City of Detroit, Unlimited Tax</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Will County Forest Preserve District</name>
        <lei>N/A</lei>
        <title>Will County Forest Preservation District, Limited Tax</title>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Philadelphia Authority for Industrial Development</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ohio Higher Educational Facility Commission</name>
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        <title>Ohio Higher Educational Facility Commission, Cleveland Institute of Music 2</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Iowa Finance Authority</name>
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          <isin value="US46247CCA53"/>
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        <curCd>USD</curCd>
        <valUSD>390581.80000000</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>2036-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>West Cornwall Township Municipal Authority</name>
        <lei>N/A</lei>
        <title>West Cornwall Township Municipal Authority, Lebanon Valley Brethren Home Project</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-11-15</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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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
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          <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>
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          <isin value="US165588DV35"/>
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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>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Public Finance Authority</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
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          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Illinois Finance Authority</name>
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        <title>Illinois Finance Authority, Southern Illinois Healthcare Enterprises, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Build NYC Resource Corp.</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2032-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
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        <name>County of Randolph NC</name>
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        <name>Connecticut Housing Finance Authority</name>
        <lei>5493003DXX0NRJKSH186</lei>
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        <name>Connecticut Housing Finance Authority</name>
        <lei>5493003DXX0NRJKSH186</lei>
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        <name>Public Finance Authority</name>
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        <name>Connecticut Housing Finance Authority</name>
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        <name>Washington Higher Education Facilities Authority</name>
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        <name>West Cornwall Township Municipal Authority</name>
        <lei>N/A</lei>
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        <name>California Municipal Finance Authority</name>
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      <invstOrSec>
        <name>Chester County Industrial Development Authority</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
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          <isin value="US64542UFN90"/>
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          <maturityDt>2055-11-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>West Cornwall Township Municipal Authority</name>
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          <isin value="US95235TAN37"/>
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        <name>King County Housing Authority</name>
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          <maturityDt>2025-09-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>State of Texas</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2033-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Arlington Higher Education Finance Corp.</name>
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        <title>Arlington Higher Education Finance Corp.</title>
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          <isin value="US041806L328"/>
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        <name>San Antonio Education Facilities Corp.</name>
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        <name>Arlington Higher Education Finance Corp.</name>
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          <isin value="US041806L401"/>
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        <name>George L Smith II Congress Center Authority</name>
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        <name>George L Smith II Congress Center Authority</name>
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        <name>New York City Municipal Water Finance Authority</name>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <name>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority, Social Bonds-Learn Chapter School Project</title>
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      <invstOrSec>
        <name>Essex County Improvement Authority</name>
        <lei>N/A</lei>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <name>Midtown Redevelopment Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Arlington Higher Education Finance Corp.</name>
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        <title>Arlington Higher Education Finance Corp., Kipp Texas, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Metropolitan Government Nashville &amp; Davidson County Health &amp; Educational Facilities Bonds</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Washington Health Care Facilities Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Iowa Finance Authority</name>
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        <title>Iowa Finance Authority, Senior Living Facility, Sunrise Retirement Community Project</title>
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          <isin value="US46247CBW82"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Lakota Local School District/Butler County</name>
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          <isin value="US512804RD99"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-01</maturityDt>
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        <name>Illinois Finance Authority</name>
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        <name>District of Columbia</name>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority, DePauw University</title>
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          <maturityDt>2032-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Maricopa County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Maricopa County Industrial Development Authority, Arizona Autism Charter Schools Project, Series 2021A</title>
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        <name>City of Woodbury MN</name>
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        <name>Industrial Development Authority of the City of St Louis Missouri (The)</name>
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        <name>North Dakota Housing Finance Agency</name>
        <lei>549300DVQAGW0B16JX70</lei>
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        <name>Albany-Dougherty Inner City Authority</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Kipp Social Projects</title>
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          <isin value="US13059TGW36"/>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Utah Infrastructure Agency</name>
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          <isin value="US917467CG50"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Southern Illinois University</name>
        <lei>N/A</lei>
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          <isin value="US8431464U26"/>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Butler County Port Authority</name>
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          <maturityDt>2038-05-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-06-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Texas State Affordable Housing Corp.</name>
        <lei>N/A</lei>
        <title>Texas State Affordable Housing Corp., Single Family Mortgage, Heroes Home Loan Program</title>
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          <isin value="US88271HGM51"/>
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          <maturityDt>2049-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Classical Academies Oceanside Project</title>
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          <isin value="US13058TPZ74"/>
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        <name>Wyoming Community Development Authority</name>
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          <maturityDt>2046-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Utah Charter School Finance Authority</name>
        <lei>N/A</lei>
        <title>Utah Charter School Finance Authority, The Freedom Academy Foundation, St. George Campus Project</title>
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          <isin value="US91754TG983"/>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <name>Metropolitan Transportation Authority</name>
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        <name>California Public Finance Authority</name>
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          <maturityDt>2029-05-15</maturityDt>
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        <name>Arlington Higher Education Finance Corp.</name>
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        <title>Arlington Higher Education Finance Corp., Kipp Texas, Inc.</title>
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          <isin value="US041806ZX10"/>
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        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
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        <name>Conroe Local Government Corp.</name>
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        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-04-01</maturityDt>
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        <name>Health &amp; Educational Facilities Authority of the State of Missouri</name>
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      <invstOrSec>
        <name>Essex County Improvement Authority</name>
        <lei>N/A</lei>
        <title>Essex County Improvement Authority, North Star Academy Charter School of Newark, Inc., 2020 Project</title>
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        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, Aliante &amp; Skye Canyon Campus Project</title>
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          <isin value="US04052BMS06"/>
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          <annualizedRt>4.00000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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        <name>City of Manhattan KS</name>
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          <maturityDt>2036-06-01</maturityDt>
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        <lei>N/A</lei>
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        <name>Chester County Industrial Development Authority</name>
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        <name>University of North Dakota</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>Colorado Housing and Finance Authority</name>
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        <name>New York City Industrial Development Agency</name>
        <lei>549300XR20ZR5DHL9534</lei>
        <title>New York City Industrial Development Agency, Queens Baseball Stadium Project</title>
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        <name>Florida Development Finance Corp.</name>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
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        <name>Western Michigan University</name>
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        <name>California Municipal Finance Authority</name>
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        <name>County of Broward FL</name>
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        <name>Massachusetts Housing Finance Agency</name>
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        <name>California Municipal Finance Authority</name>
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          <isin value="US13048VVA33"/>
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        <name>City of Aurora IL</name>
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        <name>Utah Charter School Finance Authority</name>
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        <name>Essex County Improvement Authority</name>
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        <name>University of Connecticut</name>
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        <name>City of Jeffersonville IN</name>
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        <name>Newark Higher Education Finance Corp.</name>
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        <name>Butler County Port Authority</name>
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        <name>Baytown Municipal Development District</name>
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        <name>Lower Alabama Gas District (The)</name>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Rochester MN</name>
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        <title>City of Rochester, Health Care Facilities, Mayo Clinic</title>
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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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      <invstOrSec>
        <name>Atlantic County Improvement Authority (The)</name>
        <lei>N/A</lei>
        <title>Atlantic County Improvement Authority (The), Atlantic City Campus Phase II Project</title>
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          <isin value="US048501JH47"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Colorado Health Facilities Authority</name>
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          <isin value="US19648FTM67"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12500000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>Massachusetts Development Finance Agency, Southcoast Health System Obligated Group Issue</title>
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          <isin value="US57584YF798"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Virginia Small Business Financing Authority</name>
        <lei>N/A</lei>
        <title>Virginia Small Business Financing Authority, Senior Lien</title>
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          <isin value="US928104NM63"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>997150.70000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Eastern Michigan University</name>
        <lei>549300K3C21R17LKDU63</lei>
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        <identifiers>
          <isin value="US276731ZM15"/>
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        <curCd>USD</curCd>
        <valUSD>627544.36000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, Community Health Centers of The Central Coast, Inc.</title>
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          <isin value="US13048VUW61"/>
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        <valUSD>105308.60000000</valUSD>
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          <maturityDt>2029-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <title>Wisconsin Health and Educational Facilities Authority, Three Pillars Senior Living Communities</title>
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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>2041-08-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Palm Beach County Health Facilities Authority</name>
        <lei>N/A</lei>
        <title>Palm Beach County Health Facilities Authority, Jupiter Medical Center</title>
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        <name>Maine State Housing Authority</name>
        <lei>549300SO05LH6D240016</lei>
        <title>Maine State Housing Authority, Mortgage Purchase</title>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Arlington Higher Education Finance Corp.</name>
        <lei>N/A</lei>
        <title>Arlington Higher Education Finance Corp.</title>
        <cusip>041806K82</cusip>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Vermont Student Assistance Corp.</name>
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        <name>Salem Hospital Facility Authority</name>
        <lei>N/A</lei>
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        <name>Lee County Industrial Development Authority/FL</name>
        <lei>N/A</lei>
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        <name>Northeast Ohio Medical University</name>
        <lei>N/A</lei>
        <title>Northeast Ohio Medical University</title>
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      <invstOrSec>
        <name>Missouri Housing Development Commission</name>
        <lei>5493007FBL7WCV3NKY25</lei>
        <title>Missouri Housing Development Commission, Single Family Mortgage, First Place Homeownership Loan Program, Series 2106B</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>California Public Finance Authority, Enso Village Project, Series 2021A</title>
        <cusip>13057GAA7</cusip>
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          <isin value="US13057GAA76"/>
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        <balance>300000.00000000</balance>
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        <name>Gainesville &amp; Hall County Hospital Authority</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>South Dakota Housing Development Authority</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>King County Housing Authority</name>
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        <name>Will County Forest Preserve District</name>
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        <name>Western Michigan University</name>
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        <name>Philadelphia Authority for Industrial Development</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Arlington Higher Education Finance Corp.</name>
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        <name>Louisiana Public Facilities Authority</name>
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        <name>Yamhill County Hospital Authority</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Tennessee Housing Development Agency</name>
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      <invstOrSec>
        <name>Utah Transit Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
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        <name>Houston Higher Education Finance Corp.</name>
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        <name>Connecticut State Higher Education Supplement Loan Authority</name>
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          <isin value="US917467CF77"/>
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        <name>Western Michigan University</name>
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        <name>Build NYC Resource Corp.</name>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>Essex County Improvement Authority</name>
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        <name>Arizona State University</name>
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        <name>Bucks County Industrial Development Authority</name>
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        <name>Lee Memorial Health System</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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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>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp., IDEA Florida, Inc.</title>
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          <isin value="US34061VAA44"/>
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        <valUSD>298454.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of New York Mortgage Agency</name>
        <lei>549300ZQWNLLIG564027</lei>
        <title>State of New York Mortgage Agency, Homeowner Mortgage</title>
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          <isin value="US649883L299"/>
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        <balance>530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>532727.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Atlantic County Improvement Authority (The)</name>
        <lei>N/A</lei>
        <title>Atlantic County Improvement Authority (The), Atlantic City Campus Phase II Project</title>
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          <isin value="US048501JD33"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>113637.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority, Rose-Hulman Institute of Technology Project</title>
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          <isin value="US45506EBJ10"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110697.96000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Educational Facilities Authority</name>
        <lei>549300UTOO4X537XXG70</lei>
        <title>New Jersey Educational Facilities Authority, Stevens Institute of Technology</title>
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          <isin value="US6460666A35"/>
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        <curCd>USD</curCd>
        <valUSD>377953.87000000</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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, Series 2015A</title>
        <cusip>64579F7F4</cusip>
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          <isin value="US64579F7F44"/>
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        <balance>820000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>837947.42000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Front Porch Communities</title>
        <cusip>13080SC36</cusip>
        <identifiers>
          <isin value="US13080SC369"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>951448.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Build NYC Resource Corp.</name>
        <lei>549300GROJFKMNLWEK84</lei>
        <title>Build NYC Resource Corp., New World Preparatory Charter School Project, Series 2021A</title>
        <cusip>12008ERQ1</cusip>
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          <isin value="US12008ERQ16"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>143546.87000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Manchester NH</name>
        <lei>N/A</lei>
        <title>City of Manchester, School Facilities</title>
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        <balance>3545000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>Massachusetts Development Finance Agency, Salem Community Corp.</title>
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        <balance>510000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2040-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Aspen Fire Protection District</name>
        <lei>N/A</lei>
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          <isin value="US045269AQ01"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, Academies of Math &amp; Science Projects</title>
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          <isin value="US04052BSJ43"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Massachusetts Water Resources Authority</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Kipp Social Projects</title>
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          <isin value="US13059TGU79"/>
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      <invstOrSec>
        <name>California Community Housing Agency</name>
        <lei>N/A</lei>
        <title>California Community Housing Agency, Fountains at Emerald Park, Series 2021A-2</title>
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        <name>Vermont Housing Finance Agency</name>
        <lei>549300RD7EYN90K0W008</lei>
        <title>Vermont Housing Finance Agency, Multiple Purpose</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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          <annualizedRt>3.75000000</annualizedRt>
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        <name>Port of Greater Cincinnati Development Authority</name>
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        <name>City of Detroit MI</name>
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          <maturityDt>2030-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13032UYB87"/>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Metropolitan Government Nashville &amp; Davidson County Health &amp; Educational Facilities Bonds</name>
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          <maturityDt>2030-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chester County Industrial Development Authority</name>
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          <isin value="US165588DY73"/>
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        <name>South Carolina State Housing Finance &amp; Development Authority</name>
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        <name>Colorado Housing and Finance Authority</name>
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          <maturityDt>2049-11-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>Tennessee Housing Development Agency</name>
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          <isin value="US880461CE66"/>
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        <name>Iowa Finance Authority</name>
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        <name>Peoria City School District No. 150</name>
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        <name>Atlantic County Improvement Authority (The)</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Madison County Hospital Authority No. 1</name>
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        <name>Carson City NV</name>
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        <name>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
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        <name>Iowa Student Loan Liquidity Corp.</name>
        <lei>549300FO1LWVSZKGJK70</lei>
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      <invstOrSec>
        <name>Public Finance Authority</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Colorado Educational &amp; Cultural Facilities Authority</name>
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          <isin value="US19645UGB44"/>
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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>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>165588EH3</cusip>
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          <isin value="US165588EH32"/>
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        <balance>185000.00000000</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>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, Macombs Facility Project, Series 2021A</title>
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          <isin value="US04052BQF49"/>
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        <curCd>USD</curCd>
        <valUSD>448200.95000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Metropolitan Government Nashville &amp; Davidson County Health &amp; Educational Facilities Bonds</name>
        <lei>N/A</lei>
        <title>Metropolitan Government Nashville and Davidson County Health and Educational Facilities Board, Trevecca Nazarene University Project, Series 2021B</title>
        <cusip>592029AP7</cusip>
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          <isin value="US592029AP79"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority, Equitable School Revolving Fund LLC</title>
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          <isin value="US04052FDF99"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority, Social Bonds-Learn Chapter School Project</title>
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          <isin value="US45204FLF08"/>
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        <balance>375000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ohio Higher Educational Facility Commission</name>
        <lei>5493007MQT6NGNN6BR81</lei>
        <title>Ohio Higher Educational Facility Commission, Kenyon College</title>
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        <identifiers>
          <isin value="US67756DJG25"/>
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        <curCd>USD</curCd>
        <valUSD>1228834.94000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Arlington Higher Education Finance Corp.</name>
        <lei>N/A</lei>
        <title>Arlington Higher Education Finance Corp.</title>
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          <isin value="US041806L245"/>
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        <curCd>USD</curCd>
        <valUSD>38446.62000000</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>2029-08-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp., Mater Academy Project</title>
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          <isin value="US34061UKE72"/>
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        <name>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority, Social Bonds-Learn Chapter School Project</title>
        <cusip>45204FLD5</cusip>
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          <isin value="US45204FLD59"/>
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        <balance>130000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-11-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Yonkers Economic Development Corp.</name>
        <lei>N/A</lei>
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          <isin value="US98608MAJ09"/>
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        <name>Broome County Local Development Corp.</name>
        <lei>N/A</lei>
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          <isin value="US114731BB76"/>
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          <maturityDt>2031-07-01</maturityDt>
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        <name>Connecticut Housing Finance Authority</name>
        <lei>5493003DXX0NRJKSH186</lei>
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          <isin value="US20775CZ493"/>
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          <maturityDt>2023-05-15</maturityDt>
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        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
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        <name>King County Housing Authority</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Southern Illinois University</name>
        <lei>N/A</lei>
        <title>Southern Illinois University, Housing and Auxiliary Facilities System</title>
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          <isin value="US8431464Y48"/>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Aurora IL</name>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
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          <isin value="US34061ULL07"/>
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        <name>California School Finance Authority</name>
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        <name>Brazos Higher Education Authority, Inc.</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Iowa Student Loan Liquidity Corp.</name>
        <lei>549300FO1LWVSZKGJK70</lei>
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        <valUSD>1064616.20000000</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>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Miami Beach Redevelopment Agency</name>
        <lei>N/A</lei>
        <title>Miami Beach Redevelopment Agency, City Center, Historic Convention Village</title>
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          <isin value="US593237FF23"/>
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        <curCd>USD</curCd>
        <valUSD>2065897.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority, Rose-Hulman Institute of Technology Project</title>
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          <isin value="US45506EBG70"/>
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        <curCd>USD</curCd>
        <valUSD>110841.14000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Westchester County Local Development Corp.</name>
        <lei>549300KOSU8OC75V9238</lei>
        <title>Westchester County Local Development Corp., Kendal on Hudson Project</title>
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          <isin value="US95737TFC53"/>
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        <balance>265000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>274759.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Atlantic County Improvement Authority (The)</name>
        <lei>N/A</lei>
        <title>Atlantic County Improvement Authority (The), Atlantic City Campus Phase II Project</title>
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          <isin value="US048501JG63"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>66986.18000000</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>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Department of Veterans Affairs Veteran's Farm &amp; Home Purchase Program</name>
        <lei>N/A</lei>
        <title>State of California, Department of Veterans Affairs, Farm and Home Purchase Program</title>
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          <isin value="US130658NL75"/>
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        <curCd>USD</curCd>
        <valUSD>279479.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Build NYC Resource Corp.</name>
        <lei>549300GROJFKMNLWEK84</lei>
        <title>Build NYC Resource Corp., Grand Concourse Acadmey Charter School</title>
        <cusip>12008ESY3</cusip>
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          <isin value="US12008ESY31"/>
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        <curCd>USD</curCd>
        <valUSD>304008.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Union County Hospital Facility Authority</name>
        <lei>N/A</lei>
        <title>Union County Hospital Facility Authority, Grande Ronde Hospital, Inc.</title>
        <cusip>906420BZ6</cusip>
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          <isin value="US906420BZ65"/>
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        <balance>1360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1423336.70000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp., Mater Academy Project</title>
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        <balance>380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>394589.76000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Salem Hospital Facility Authority</name>
        <lei>N/A</lei>
        <title>Salem Hospital Facility Authority, Capital Manor Project</title>
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          <isin value="US794458GE37"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>County of Baltimore MD</name>
        <lei>N/A</lei>
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          <isin value="US059151DA57"/>
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        <balance>600000.00000000</balance>
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          <maturityDt>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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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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        <name>University of North Carolina at Charlotte (The)</name>
        <lei>N/A</lei>
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          <isin value="US914716N436"/>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="UXYZ2CM"/>
          <other otherDesc="Future Ticker" value="UXYZ2 Comdty"/>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Georgia Housing &amp; Finance Authority</name>
        <lei>549300I628IMF9PWV724</lei>
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        <name>Colorado Educational &amp; Cultural Facilities Authority</name>
        <lei>549300BJRX2FHSSZP042</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <name>Salem Hospital Facility Authority</name>
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        <name>California School Finance Authority</name>
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        <name>River Islands Public Financing Authority</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>Arlington Higher Education Finance Corp.</name>
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        <name>Build NYC Resource Corp.</name>
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        <name>Massachusetts Development Finance Agency</name>
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          <maturityDt>2039-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <maturityDt>2026-11-15</maturityDt>
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        <name>Philadelphia Authority for Industrial Development</name>
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        <name>Maryland Health &amp; Higher Educational Facilities Authority</name>
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        <name>Southwestern Illinois Development Authority</name>
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        <name>Westchester County Local Development Corp.</name>
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        <name>Massachusetts Clean Water Trust (The)</name>
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        <name>Allegheny County Hospital Development Authority</name>
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        <name>California School Finance Authority</name>
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        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
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        <name>District of Columbia</name>
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        <name>Public Finance Authority</name>
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        <name>Delaware County Authority</name>
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      <invstOrSec>
        <name>New Mexico Mortgage Finance Authority</name>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>California School Finance Authority</name>
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          <isin value="US13058TQD53"/>
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      <invstOrSec>
        <name>West Cornwall Township Municipal Authority</name>
        <lei>N/A</lei>
        <title>West Cornwall Township Municipal Authority, Lebanon Valley Brethren Home Project</title>
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          <isin value="US95235TAQ67"/>
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      <invstOrSec>
        <name>Utah Housing Corp.</name>
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      <invstOrSec>
        <name>City of Pompano Beach FL</name>
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      <invstOrSec>
        <name>Columbus Medical Center Hospital Authority</name>
        <lei>N/A</lei>
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        <name>Southern Illinois University</name>
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        <name>Build NYC Resource Corp.</name>
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        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
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      <invstOrSec>
        <name>Connecticut Housing Finance Authority</name>
        <lei>5493003DXX0NRJKSH186</lei>
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        <name>Michigan Finance Authority</name>
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        <title>Michigan Finance Authority, Trinity Health Corp.</title>
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        <name>Camden County Improvement Authority (The)</name>
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        <name>Vermont Student Assistance Corp.</name>
        <lei>549300VHYVRSKNFRSZ91</lei>
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          <maturityDt>2025-06-15</maturityDt>
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      <invstOrSec>
        <name>Henrico County Economic Development Authority</name>
        <lei>N/A</lei>
        <title>Henrico County Economic Development Authority, Westminster Canterbury Richmond</title>
        <cusip>42605QGR8</cusip>
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        <name>District of Columbia</name>
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          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Uptown Development Authority</name>
        <lei>N/A</lei>
        <title>Uptown Development Authority, Tax Increment Contract</title>
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          <couponKind>Fixed</couponKind>
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        <name>North Dakota Housing Finance Agency</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>Butler County Port Authority</name>
        <lei>549300LIKUQ3LQUKO260</lei>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arlington Higher Education Finance Corp.</name>
        <lei>N/A</lei>
        <title>Arlington Higher Education Finance Corp., Kipp Texas, Inc.</title>
        <cusip>041806ZZ6</cusip>
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          <isin value="US041806ZZ67"/>
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        <balance>220000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Goshen IN</name>
        <lei>N/A</lei>
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        <cusip>38327MAA5</cusip>
        <identifiers>
          <isin value="US38327MAA53"/>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>
        <cusip>62544MCD4</cusip>
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          <isin value="US62544MCD48"/>
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        <balance>885000.00000000</balance>
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        <assetCat>STIV</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.95000080</annualizedRt>
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        <name>Virginia College Building Authority</name>
        <lei>N/A</lei>
        <title>Virginia College Building Authority, Education Facilities, Regent University Project</title>
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        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
        <title>New Hope Cultural Education Facilities Finance Corp, Outlook at Windhaven Forefront Living</title>
        <cusip>64542UGL2</cusip>
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          <isin value="US64542UGL26"/>
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        <name>City of Portland ME General Airport Revenue</name>
        <lei>N/A</lei>
        <title>City of Portland, General Airport</title>
        <cusip>736564EG6</cusip>
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          <maturityDt>2031-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Yamhill County Hospital Authority</name>
        <lei>N/A</lei>
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        <name>Northeast Ohio Medical University</name>
        <lei>N/A</lei>
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        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
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        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
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          <maturityDt>2033-07-01</maturityDt>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Indiana Housing &amp; Community Development Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp.</title>
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          <isin value="US34061ULH94"/>
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        <curCd>USD</curCd>
        <valUSD>1484720.91000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Atlantic County Improvement Authority (The)</name>
        <lei>N/A</lei>
        <title>Atlantic County Improvement Authority (The), Atlantic City Campus Phase II Project</title>
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        <identifiers>
          <isin value="US048501JK75"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>73934.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Midtown Redevelopment Authority</name>
        <lei>N/A</lei>
        <title>Midtown Redevelopment Authority, Tax Increment Contract</title>
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        <identifiers>
          <isin value="US598076GV33"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>519548.90000000</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>2032-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Delaware State Economic Development Authority</name>
        <lei>N/A</lei>
        <title>Delaware State Economic Development Authority, Aspria of Delaware Charter Operations inc. Projects, Series 2022A</title>
        <cusip>246372BB1</cusip>
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          <isin value="US246372BB13"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>221429.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
        <lei>549300ROY505NVTMMI25</lei>
        <title>Tarrant County Cultural Education Facilities Finance Corp., CHRISTUS Health</title>
        <cusip>87638TGV9</cusip>
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          <isin value="US87638TGV98"/>
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        <curCd>USD</curCd>
        <valUSD>681579.83000000</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>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Huntington Local Development Corp.</name>
        <lei>N/A</lei>
        <title>Huntington Local Development Corp., Fountaingate Garden Project</title>
        <cusip>446490AT1</cusip>
        <identifiers>
          <isin value="US446490AT17"/>
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        <balance>860000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>840094.27000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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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        <balance>680000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>748007.68000000</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>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southwestern Illinois Development Authority</name>
        <lei>549300B1KLLJ8NU5XK71</lei>
        <title>Southwestern Illinois Development Authority, Flood Prevention District Council Project</title>
        <cusip>84552YQV6</cusip>
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          <isin value="US84552YQV64"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>269940.90000000</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>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Northside Independent School District</name>
        <lei>N/A</lei>
        <title>Northside Independent School District, School Building, Unlimited Tax</title>
        <cusip>66702RWD0</cusip>
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          <isin value="US66702RWD06"/>
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        <balance>340000.00000000</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>2049-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.59999840</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>California Enterprise Development Authority</name>
        <lei>549300544P6FSHU1HB46</lei>
        <title>California Enterprise Development Authority, Riverside County, Rocketship Public Schools-Obligated Group No. 2</title>
        <cusip>13069AAR9</cusip>
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        <balance>300000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Maricopa County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Maricopa County Industrial Development Authority, HonorHealth, Series 2019A</title>
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          <isin value="US56678PAK30"/>
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          <maturityDt>2032-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Colorado Housing and Finance Authority</name>
        <lei>5493005GIROYQAWBMC18</lei>
        <title>Colorado Housing and Finance Authority, Single Family Mortgage</title>
        <cusip>196480MJ3</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2050-05-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Suffolk County Economic Development Corp.</name>
        <lei>5493003FN78GO4R0BJ89</lei>
        <title>Suffolk County Economic Development Corp., St. Johnland Assisted Living Inc., Project</title>
        <cusip>86476RDL5</cusip>
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          <isin value="US86476RDL50"/>
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          <maturityDt>2031-11-01</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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        <name>Lancaster Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Lancaster Industrial Development Authority, Landis Homes Retirement Community Project</title>
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          <isin value="US51434NAP33"/>
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        <name>School Board of Miami-Dade County (The)</name>
        <lei>549300J3U4QVT6U3O129</lei>
        <title>School Board of Miami-Dade County (The), Series 2015D</title>
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          <maturityDt>2027-02-01</maturityDt>
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        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority, The Carmelite System, Inc., Obligated Group</title>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2026-01-01</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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        <name>City of Tucson AZ Water System Revenue</name>
        <lei>N/A</lei>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
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        <cusip>34061UJR0</cusip>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Kipp Social Projects</title>
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          <isin value="US13059TGY91"/>
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          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Irving Hospital Authority</name>
        <lei>N/A</lei>
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          <isin value="US463794JT57"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Lutheran Services for The Aging</title>
        <cusip>65821DYD7</cusip>
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          <isin value="US65821DYD73"/>
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        <valUSD>265592.41000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
        <title>New Hope Cultural Education Facilities Finance Corp., Morningside Ministries Project</title>
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          <isin value="US64542UFW99"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Philadelphia Authority for Industrial Development</name>
        <lei>549300DIY68KQZEW7M79</lei>
        <title>Philadelphia Authority for Industrial Development, Russell Byers Charter School Project</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Southwestern Illinois Development Authority</name>
        <lei>549300B1KLLJ8NU5XK71</lei>
        <title>Southwestern Illinois Development Authority, Flood Prevention District Council Project</title>
        <cusip>84552YQX2</cusip>
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          <isin value="US84552YQX21"/>
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        <balance>390000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>West Cornwall Township Municipal Authority</name>
        <lei>N/A</lei>
        <title>West Cornwall Township Municipal Authority, Lebanon Valley Brethren Home Project</title>
        <cusip>95235TAP8</cusip>
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          <isin value="US95235TAP84"/>
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        <balance>190000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <invCountry>US</invCountry>
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        <name>Massachusetts Water Resources Authority</name>
        <lei>549300GBS2G3YGHOYO19</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-08-01</maturityDt>
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        <name>Camden County Improvement Authority (The)</name>
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        <title>Camden County Improvement Authority (The), Camden Prep High School Project</title>
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        <name>American Municipal Power, Inc.</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
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        <name>Mississippi Home Corp.</name>
        <lei>549300FFY35B829JR607</lei>
        <title>Mississippi Home Corp., Single Family Mortgage, Series 2019A</title>
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        <name>Newark Higher Education Finance Corp.</name>
        <lei>N/A</lei>
        <title>Newark Higher Education Finance Corp., The Hughen Center, Inc.</title>
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        <name>La Paz County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>La Paz County Industrial Development Authority, Harmony Public School Project</title>
        <cusip>50376FBR7</cusip>
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          <isin value="US50376FBR73"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2046-02-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Colorado Educational &amp; Cultural Facilities Authority</name>
        <lei>549300BJRX2FHSSZP042</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
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        <valUSD>283631.22000000</valUSD>
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      <invstOrSec>
        <name>Massachusetts Housing Finance Agency</name>
        <lei>549300NLJBK1VP6K2K81</lei>
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        <valUSD>84831.54000000</valUSD>
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      <invstOrSec>
        <name>Dallas Area Rapid Transit</name>
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        <curCd>USD</curCd>
        <valUSD>3017903.28000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority, Springpoint Senior Living Project</title>
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        <curCd>USD</curCd>
        <valUSD>265808.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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    </invstOrSecs>
    <explntrNotes>








    </explntrNotes>
    <signature>
      <ncom:dateSigned>2022-09-30</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>
</edgarSubmission>
