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        <name>Massachusetts Development Finance Agency</name>
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        <name>Wagoner County School Development Authority</name>
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        <name>Quaker Valley School District/PA</name>
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        <name>Snohomish County Public Utility District No. 1 Electric System Revenue</name>
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        <name>Maricopa County Pollution Control Corp.</name>
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        <name>State of Wisconsin</name>
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        <name>Florida Higher Educational Facilities Financial Authority</name>
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        <name>City of Cleveland OH Income Tax Revenue</name>
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        <name>Winston-Salem State University Foundation LLC</name>
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        <name>Indiana Finance Authority</name>
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        <name>Will County Township High School District No. 204 Joliet</name>
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        <name>Duluth Independent School District No. 709</name>
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        <name>City of Shreveport LA Water &amp; Sewer Revenue</name>
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        <name>University of Kansas Hospital Authority</name>
        <lei>N/A</lei>
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        <name>Sports &amp; Exhibition Authority of Pittsburgh and Allegheny County</name>
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      <invstOrSec>
        <name>Champaign County Community Unit School District No. 4 Champaign</name>
        <lei>N/A</lei>
        <title>Champaign County Community Unit School District No. 4 Champaign, Capital Appreciation</title>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Shreveport LA Water &amp; Sewer Revenue</name>
        <lei>N/A</lei>
        <title>City of Shreveport, Water and Sewer, Junior Lien</title>
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          <isin value="US825485XC45"/>
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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>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Irving Hospital Authority</name>
        <lei>N/A</lei>
        <title>Irving Hospital Authority, Baylor Scott and White Medical Center, Series 2017A</title>
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          <isin value="US463794JW86"/>
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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>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago O'Hare International Airport</name>
        <lei>N/A</lei>
        <title>Chicago O'Hare International Airport, General Airport, Senior Lien</title>
        <cusip>167593N32</cusip>
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          <isin value="US167593N326"/>
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        <balance>4390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4864449.25000000</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>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wagoner County School Development Authority</name>
        <lei>N/A</lei>
        <title>Wagoner County School Development Authority, Wagoner Public Schools Project</title>
        <cusip>93055DAF7</cusip>
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          <isin value="US93055DAF78"/>
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        <balance>625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>640827.56000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</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, Tulane University Project</title>
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          <isin value="US546399JF47"/>
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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>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>University of Central Arkansas</name>
        <lei>N/A</lei>
        <title>University of Central Arkansas, Student Housing System, Series 2019C</title>
        <cusip>914115P95</cusip>
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          <isin value="US914115P956"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>112824.32000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Wichita KS</name>
        <lei>549300Y20JVN3VP2V718</lei>
        <title>City of Wichita, Sales Tax, River District Stadium Star Bond Project</title>
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          <isin value="US967323AH92"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>316286.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tennergy Corp./TN</name>
        <lei>5493008K3JJFBSC4C235</lei>
        <title>Tennergy Corp., Gas Supply</title>
        <cusip>880397BW3</cusip>
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          <isin value="US880397BW31"/>
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        <balance>6500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kane County School District No. 131 Aurora East Side</name>
        <lei>N/A</lei>
        <title>Kane County School District No. 131 Aurora East Side</title>
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        <balance>135000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Franklin County Convention Facilities Authority</name>
        <lei>N/A</lei>
        <title>Franklin County Convention Facilities Authority, Greater Columbus Convention Center Hotel Expansion Project</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Northville Public Schools</name>
        <lei>N/A</lei>
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          <maturityDt>2028-05-01</maturityDt>
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      <invstOrSec>
        <name>Oklahoma County Finance Authority</name>
        <lei>549300KPR05JUN0F1289</lei>
        <title>Oklahoma County Finance Authority, Educational Facilities, Lease Midwest City-Del City Public Schools Project</title>
        <cusip>67868UFU2</cusip>
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        <name>Town of Oyster Bay NY</name>
        <lei>N/A</lei>
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        <name>New York City Industrial Development Agency</name>
        <lei>549300XR20ZR5DHL9534</lei>
        <title>New York City Industrial Development Agency, Yankee Stadium Project</title>
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        <invCountry>US</invCountry>
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        <name>Maricopa County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Maricopa County Industrial Development Authority, Banner Health</title>
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      <invstOrSec>
        <name>Hillsborough County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Hillsborough County Industrial Development Authority, Tampa General Hospital Project</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Iowa Finance Authority</name>
        <lei>549300NQVL49BTHOW391</lei>
        <title>Iowa Finance Authority, Health System</title>
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      <invstOrSec>
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        <name>State of Illinois</name>
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          <maturityDt>2023-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of California</name>
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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Duluth Independent School District No. 709</name>
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          <maturityDt>2028-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <maturityDt>2028-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Bridge City Independent School District</name>
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          <isin value="US108043VD91"/>
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          <maturityDt>2033-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lewisville Independent School District</name>
        <lei>N/A</lei>
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          <isin value="US52882PCN69"/>
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        <balance>750000.00000000</balance>
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          <maturityDt>2026-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Atlanta Development Authority (The)</name>
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          <maturityDt>2028-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Abilene Independent School District</name>
        <lei>N/A</lei>
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          <maturityDt>2029-02-15</maturityDt>
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        <name>County of Eagle CO</name>
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        <name>Cook County School District No. 99 Cicero</name>
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        <name>Kane County School District No. 131 Aurora East Side</name>
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        <name>Gallatin County High School District No. 7 Bozeman</name>
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        <name>Quaker Valley School District/PA</name>
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        <name>State of Connecticut Special Tax Revenue</name>
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        <name>Franklin County Convention Facilities Authority</name>
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      <invstOrSec>
        <name>Odessa Junior College District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Peoria Public Building Commission</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Madison-Macoupin Etc Counties Community College District No. 536/IL</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp., Terminal 4 John F. Kennedy International Airport Project, Tax-Exempt</title>
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          <isin value="US650116EG76"/>
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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>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Muskogee Industrial Trust</name>
        <lei>N/A</lei>
        <title>Muskogee Industrial Trust, Muskogee Public Schools Project</title>
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          <isin value="US62813NAW65"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Territory of Guam</name>
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        <title>Territory of Guam</title>
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          <isin value="US40065NCN57"/>
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        <invCountry>GU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525WP99"/>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Passaic Valley Sewerage Commission</name>
        <lei>N/A</lei>
        <title>Passaic Valley Sewerage Commission, Sewer System</title>
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          <isin value="US702826LB23"/>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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        <name>University of Oklahoma (The)</name>
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        <name>Irving Hospital Authority</name>
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        <name>Louisiana Public Facilities Authority</name>
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        <name>Wisconsin Department of Transportation</name>
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        <name>County of Cook IL</name>
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        <name>JEA Water &amp; Sewer System Revenue</name>
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        <name>City of Shreveport LA Water &amp; Sewer Revenue</name>
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        <name>Sacramento Municipal Utility District</name>
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      <invstOrSec>
        <name>University of Oklahoma (The)</name>
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        <name>Louisiana Public Facilities Authority</name>
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        <name>San Diego Public Facilities Financing Authority</name>
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        <name>Louisiana Public Facilities Authority</name>
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          <maturityDt>2029-04-01</maturityDt>
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        <name>Richardson Independent School District</name>
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          <isin value="US7632613J17"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Territory of Guam</name>
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        <invCountry>GU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Arizona Health Facilities Authority</name>
        <lei>N/A</lei>
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          <isin value="US040507PF67"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Minnesota Higher Education Facilities Authority</name>
        <lei>549300DI4V4CIPMX7K35</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Shreveport LA Water &amp; Sewer Revenue</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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        <name>Tempe Industrial Development Authority</name>
        <lei>N/A</lei>
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        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
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        <name>Sonoma County Transportation Authority</name>
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        <name>Arkansas Development Finance Authority Public Safety Charges Revenue</name>
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        <name>University of Oklahoma (The)</name>
        <lei>N/A</lei>
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          <isin value="US91476PVR62"/>
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        <balance>455000.00000000</balance>
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        <name>Peoria Public Building Commission</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
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      <invstOrSec>
        <name>Northville Public Schools</name>
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        <name>Louisiana Public Facilities Authority</name>
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        <name>Maine Township High School District No. 207</name>
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      <invstOrSec>
        <name>University of Oklahoma (The)</name>
        <lei>N/A</lei>
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          <isin value="US91476PVP07"/>
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      <invstOrSec>
        <name>State of Connecticut Special Tax Revenue</name>
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      <invstOrSec>
        <name>City of Shreveport LA Water &amp; Sewer Revenue</name>
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        <name>County of Westmoreland PA</name>
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        <name>City of Dublin OH</name>
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        <name>Grand Parkway Transportation Corp.</name>
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        <name>Passaic Valley Sewerage Commission</name>
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        <name>Chicago O'Hare International Airport</name>
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        <name>Birmingham Airport Authority</name>
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        <name>New Jersey Institute of Technology/NJ</name>
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        <name>West Travis County Public Utility Agency</name>
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        <name>Alaska Municipal Bond Bank Authority</name>
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          <maturityDt>2029-12-01</maturityDt>
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        <name>New Jersey Turnpike Authority</name>
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        <name>Floral Park-Bellerose Union Free School District</name>
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          <maturityDt>2028-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Purdue University</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Lewisville Independent School District</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Madison-Macoupin Etc Counties Community College District No. 536/IL</name>
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        <name>Bryan County School Finance Authority</name>
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        <name>Charleroi Borough Authority Water System Revenue</name>
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        <name>Cuyahoga Community College District</name>
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        <name>Overland Park Development Corp.</name>
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        <name>Effingham Community Unit School District No. 40</name>
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        <name>New York Convention Center Development Corp.</name>
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        <name>Duluth Independent School District No. 709</name>
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        <name>Illinois Finance Authority</name>
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        <name>New York Transportation Development Corp.</name>
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        <name>University of Central Arkansas</name>
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        <name>Chester County Health and Education Facilities Authority</name>
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          <couponKind>Variable</couponKind>
          <annualizedRt>3.99999960</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Texas Municipal Gas Acquisition and Supply Corp. I</name>
        <lei>6AZ7FRSNC3ZFPM0Z8L86</lei>
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          <isin value="US88256CEX39"/>
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        <valUSD>1149322.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Carter County Public Facilities Authority</name>
        <lei>N/A</lei>
        <title>Carter County Public Facilities Authority, Educational Facilities Lease, Ardmore City Schools Project</title>
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          <isin value="US146201DG07"/>
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        <curCd>USD</curCd>
        <valUSD>859382.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</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>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority, Indianapolis Power and Light Co. Project</title>
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          <isin value="US455059AH80"/>
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        <curCd>USD</curCd>
        <valUSD>2591433.60000000</valUSD>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.74999880</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southeastern Pennsylvania Transportation Authority</name>
        <lei>98450061A2F3FD36E493</lei>
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          <isin value="US842039FC84"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>116104.92000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Sandoval NM</name>
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        <title>County of Sandoval</title>
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          <isin value="US80004PEY43"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>700528.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kentucky Municipal Power Agency</name>
        <lei>2549001MTI3IE05Z7959</lei>
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        <curCd>USD</curCd>
        <valUSD>243807.86000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Economic Development Authority</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>New Jersey Economic Development Authority, School Facilities Construction, Series 2021QQQ</title>
        <cusip>64577XCC8</cusip>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>468416.27000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</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>City of Vernon CA Electric System Revenue</name>
        <lei>N/A</lei>
        <title>City of Vernon, Electric System, Series 2021A</title>
        <cusip>924397EJ7</cusip>
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          <isin value="US924397EJ72"/>
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        <balance>1000000.00000000</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>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>University of Arkansas</name>
        <lei>549300FFADBQ3NEI2D96</lei>
        <title>University of Arkansas, Various Facility UAMS Campus</title>
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          <isin value="US914072VK63"/>
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        <balance>500000.00000000</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>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Galveston TX</name>
        <lei>N/A</lei>
        <title>City of Galveston</title>
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        <balance>635000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Jersey Institute of Technology/NJ</name>
        <lei>N/A</lei>
        <title>New Jersey Institute of Technology, Tax-Exempt</title>
        <cusip>64579RDD6</cusip>
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        <balance>415000.00000000</balance>
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        <valUSD>462981.26000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Cleveland OH Income Tax Revenue</name>
        <lei>N/A</lei>
        <title>City of Cleveland, Income Tax, Subordinate Lien, Public Facilities Improvements, Series 2018A</title>
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          <isin value="US186387UP98"/>
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        <balance>250000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Novato Unified School District/CA</name>
        <lei>N/A</lei>
        <title>Novato Unified School District, Series A</title>
        <cusip>669878EE6</cusip>
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          <isin value="US669878EE68"/>
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        <balance>685000.00000000</balance>
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        <valUSD>688064.69000000</valUSD>
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          <maturityDt>2023-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2002-36, Class FS</title>
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          <isin value="US31392DKJ09"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.51613880</annualizedRt>
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      <invstOrSec>
        <name>Cook County Community School District No. 97 Oak Park</name>
        <lei>N/A</lei>
        <title>Cook County Community School District No. 97, Oak Park</title>
        <cusip>213287BY0</cusip>
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          <isin value="US213287BY02"/>
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        <balance>375000.00000000</balance>
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          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Virginia Resources Authority</name>
        <lei>N/A</lei>
        <title>Virginia Resources Authority, Infrastructure Pooled Financing Program</title>
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          <isin value="US92818MAL46"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Rogers AR Sales &amp; Use Tax Revenue</name>
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        <title>City of Rogers, Sales Tax</title>
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          <isin value="US775080FU33"/>
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        <balance>3855000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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      <invstOrSec>
        <name>University of Oklahoma (The)</name>
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        <name>University of Arkansas</name>
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        <name>Rhode Island Health and Educational Building Corp.</name>
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        <name>City of Cleveland OH Income Tax Revenue</name>
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        <name>Peoria Public Building Commission</name>
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        <name>Kane County School District No. 131 Aurora East Side</name>
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        <name>Elgin Independent School District</name>
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        <name>Long Island Power Authority</name>
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        <name>Walnut Energy Center Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Wauwatosa School District</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Peoria County Community Unit School District No. 309 Brimfield</name>
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        <name>Triborough Bridge &amp; Tunnel Authority</name>
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          <maturityDt>2045-05-15</maturityDt>
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        <name>Fairfax County Water Authority</name>
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        <name>Massachusetts Bay Transportation Authority Sales Tax Revenue</name>
        <lei>N/A</lei>
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        <name>Regional Transportation District</name>
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        <name>Floral Park-Bellerose Union Free School District</name>
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        <name>Pittsburg County Educational Facilities Authority</name>
        <lei>N/A</lei>
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        <name>General Authority of Southcentral Pennsylvania</name>
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        <name>New York State Dormitory Authority</name>
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        <name>Longwood Central School District Suffolk County</name>
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        <name>California Municipal Finance Authority</name>
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        <title>California Municipal Finance Authority, California Lutheran University</title>
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        <name>Chicago O'Hare International Airport</name>
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        <name>Gerald R Ford International Airport Authority</name>
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        <name>County of Rutherford TN</name>
        <lei>N/A</lei>
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        <name>Jackson Public Schools/MI</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>County of Greene MO</name>
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        <name>Louisiana Public Facilities Authority</name>
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          <maturityDt>2022-12-15</maturityDt>
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        <name>Berks County Industrial Development Authority</name>
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        <name>Cleveland County Educational Facilities Authority</name>
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        <name>Muskogee Industrial Trust</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>City of Shreveport LA Water &amp; Sewer Revenue</name>
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        <name>Rhode Island Health and Educational Building Corp.</name>
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        <name>State of California</name>
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        <name>Gerald R Ford International Airport Authority</name>
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        <name>Los Angeles Community College District/CA</name>
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        <name>School District of Philadelphia (The)</name>
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        <name>Regional Transportation District</name>
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        <name>Wyandotte County Unified School District No. 202 Turner</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Berks County Industrial Development Authority</name>
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        <name>Austin Community College District Public Facility Corp.</name>
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        <name>Santa Barbara Unified School District</name>
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        <name>Metropolitan Transportation Authority</name>
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        <name>Carol Stream Park District</name>
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        <name>Northern Kentucky University</name>
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      <invstOrSec>
        <name>Grosse Pointe Public School System</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Southeast Community College Area</name>
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        <name>County of Hamilton TN</name>
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        <name>Los Angeles Community College District</name>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Lewisville Independent School District</name>
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        <name>State of California</name>
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          <maturityDt>2028-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>New Jersey Institute of Technology/NJ</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>Grady County School Finance Authority</name>
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        <name>Metropolitan Government Nashville &amp; Davidson County Industrial Development Board</name>
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        <name>Sales Tax Securitization Corp.</name>
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        <name>New York City Industrial Development Agency</name>
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        <name>Carter County Public Facilities Authority</name>
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        <name>Syracuse Industrial Development Agency</name>
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        <name>Gunnison Watershed School District No. Re 1J</name>
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        <name>County of Miami-Dade FL Aviation Revenue</name>
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        <name>S &amp; S Consolidated Independent School District</name>
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        <name>Austin Community College District Public Facility Corp.</name>
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        <name>Cook County Community Consolidated School District No. 65 Evanston</name>
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        <name>Charleroi Borough Authority Water System Revenue</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Wyandotte County Unified School District No. 202 Turner</name>
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        <name>Alaska Municipal Bond Bank Authority</name>
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        <name>University of Central Arkansas</name>
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        <name>Arkansas Development Finance Authority Public Safety Charges Revenue</name>
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        <name>Private Colleges &amp; Universities Authority</name>
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        <name>Illinois Finance Authority</name>
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        <name>Will County Forest Preserve District</name>
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        <name>Cook County Community School District No. 97 Oak Park</name>
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        <name>Duluth Independent School District No. 709</name>
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        <name>Cook County School District No. 69 Skokie</name>
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        <name>Pennsylvania Turnpike Commission</name>
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        <name>Duluth Independent School District No. 709</name>
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        <name>Rhode Island Health and Educational Building Corp.</name>
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        <name>Yamhill County Hospital Authority</name>
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        <name>Glenview Park District</name>
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        <name>Volusia County School Board</name>
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        <name>General Authority of Southcentral Pennsylvania</name>
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        <name>City of Denton TX</name>
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        <name>Maricopa County Industrial Development Authority</name>
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        <name>Klein Independent School District</name>
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        <name>Fort Wayne Redevelopment Authority</name>
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        <name>State of California</name>
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        <name>Birmingham Airport Authority</name>
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        <name>Cook County School District No. 69 Skokie</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Kane County School District No. 131 Aurora East Side</name>
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        <name>Montgomery County Public Facilities Authority/AL</name>
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      <invstOrSec>
        <name>Northville Public Schools</name>
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        <name>New York State Dormitory Authority</name>
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      <invstOrSec>
        <name>Hereford Independent School District</name>
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          <isin value="US427128EB54"/>
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          <maturityDt>2028-02-15</maturityDt>
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        <name>Cook County School District No. 69 Skokie</name>
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        <name>Odessa Junior College District</name>
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        <name>New Jersey Economic Development Authority</name>
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        <name>Gunnison Watershed School District No. Re 1J</name>
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        <name>City of Vernon CA Electric System Revenue</name>
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        <name>Chicago Transit Authority Capital Grant Receipts Revenue</name>
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        <name>Nassau County Local Economic Assistance Corp.</name>
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        <name>City of New Haven CT</name>
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        <name>Franklin County Convention Facilities Authority</name>
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        <name>Upper St. Clair Township School District</name>
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        <name>Montgomery County Higher Education and Health Authority</name>
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        <name>Harris County Fresh Water Supply District No. 61</name>
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      <invstOrSec>
        <name>City of Wichita KS</name>
        <lei>549300Y20JVN3VP2V718</lei>
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          <isin value="US967323AJ58"/>
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        <valUSD>499821.57000000</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>2026-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Custer County Economic Development Authority</name>
        <lei>N/A</lei>
        <title>Custer County Economic Development Authority, Thomas Fay Public Schools</title>
        <cusip>231800BH5</cusip>
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          <isin value="US231800BH52"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Austin TX Airport System Revenue</name>
        <lei>N/A</lei>
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          <isin value="US052398FH23"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Birmingham Airport Authority</name>
        <lei>N/A</lei>
        <title>Birmingham Airport Authority</title>
        <cusip>090888GT9</cusip>
        <identifiers>
          <isin value="US090888GT90"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>408799.16000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tennessee Energy Acquisition Corp.</name>
        <lei>549300OJ2Z8PGEY46K92</lei>
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          <isin value="US880443HY52"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Peoria Public Building Commission</name>
        <lei>N/A</lei>
        <title>Peoria Public Building Commission, Series 2019A</title>
        <cusip>71323MEL2</cusip>
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          <isin value="US71323MEL28"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Alaska Municipal Bond Bank Authority</name>
        <lei>N/A</lei>
        <title>Alaska Municipal Bond Bank Authority</title>
        <cusip>01179RE74</cusip>
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          <isin value="US01179RE742"/>
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        <balance>1230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1361379.01000000</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>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>DeKalb County Community Unit School District No. 428 DeKalb</name>
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        <title>DeKalb County Community Unit School District No. 428 DeKalb</title>
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          <isin value="US240685LE54"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Royal Oak MI</name>
        <lei>N/A</lei>
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          <maturityDt>2027-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Stockton Public Financing Authority</name>
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        <name>Oak Grove School District</name>
        <lei>N/A</lei>
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        <name>Forney Independent School District</name>
        <lei>N/A</lei>
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        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
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        <title>Connecticut State Health and Educational Facilities Authority, Hartford Healthcare</title>
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      <invstOrSec>
        <name>Austin Community College District Public Facility Corp.</name>
        <lei>N/A</lei>
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        <name>Medical Center Educational Building Corp.</name>
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        <name>Wagoner County School Development Authority</name>
        <lei>N/A</lei>
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        <name>State Public School Building Authority</name>
        <lei>5493006JN0UR7OGWTO86</lei>
        <title>State Public School Building Authority, Community College of Philadelphia Project</title>
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        <invCountry>US</invCountry>
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        <name>Katy Independent School District</name>
        <lei>254900H9QSKVP2HWVL72</lei>
        <title>Katy Independent School District, School Building</title>
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      <invstOrSec>
        <name>City of Chula Vista CA</name>
        <lei>N/A</lei>
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        <name>Duluth Independent School District No. 709</name>
        <lei>N/A</lei>
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        <name>Pittsburgh Water &amp; Sewer Authority</name>
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        <name>Fort Pierce Utilities Authority</name>
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        <name>Passaic Valley Sewerage Commission</name>
        <lei>N/A</lei>
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        <name>Commonwealth of Massachusetts</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>Wichita Falls Independent School District</name>
        <lei>N/A</lei>
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        <name>Washington Health Care Facilities Authority</name>
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        <name>Allegheny County Sanitary Authority</name>
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        <name>Indiana Finance Authority</name>
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        <name>City of Garland TX Water &amp; Sewer System Revenue</name>
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      <invstOrSec>
        <name>Muskogee Industrial Trust</name>
        <lei>N/A</lei>
        <title>Muskogee Industrial Trust, Muskogee Public Schools Project</title>
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          <isin value="US62813NAY22"/>
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        <curCd>USD</curCd>
        <valUSD>2574898.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Institute of Technology/NJ</name>
        <lei>N/A</lei>
        <title>New Jersey Institute of Technology, Tax-Exempt</title>
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          <isin value="US64579RDB06"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>220500.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Seward County Unified School District No. 480 Liberal</name>
        <lei>N/A</lei>
        <title>Seward County Unified School District No. 480 Liberal, Series 2017-B</title>
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          <isin value="US818461JL03"/>
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        <curCd>USD</curCd>
        <valUSD>1854994.93000000</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>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southeast Community College Area</name>
        <lei>N/A</lei>
        <title>Southeast Community College Area, Tax Supported</title>
        <cusip>84134TAH2</cusip>
        <identifiers>
          <isin value="US84134TAH23"/>
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        <balance>495000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>546978.42000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>White Plains City School District</name>
        <lei>N/A</lei>
        <title>White Plains City School District</title>
        <cusip>964406LY6</cusip>
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          <isin value="US964406LY61"/>
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        <balance>1550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1604116.39000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, California Lutheran University</title>
        <cusip>13048VDH8</cusip>
        <identifiers>
          <isin value="US13048VDH87"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>285115.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Schenectady County Capital Resource Corp.</name>
        <lei>N/A</lei>
        <title>Schenectady County Capital Resource Corp., Union College Project</title>
        <cusip>806418AZ2</cusip>
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          <isin value="US806418AZ21"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>417157.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Wake Forest Baptist Obligated Group, Series 2019C</title>
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          <isin value="US65821DWJ61"/>
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        <balance>13805000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13466221.16000000</valUSD>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.54999880</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Orange NY</name>
        <lei>N/A</lei>
        <title>County of Orange, Public Improvement</title>
        <cusip>6845756P3</cusip>
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          <isin value="US6845756P31"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1004207.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dahlonega Downtown Development Authority</name>
        <lei>N/A</lei>
        <title>Dahlonega Downtown Development Authority, North Georgia MAC, LLC Project</title>
        <cusip>23378RFB7</cusip>
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          <isin value="US23378RFB78"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>292080.11000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority, North Bay Healthcare Group, Series 2017A</title>
        <cusip>13048TM91</cusip>
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          <isin value="US13048TM918"/>
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        <balance>800000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2024-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Penn Hills School District</name>
        <lei>N/A</lei>
        <title>Penn Hills School District</title>
        <cusip>707487JW5</cusip>
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          <isin value="US707487JW54"/>
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        <balance>3585000.00000000</balance>
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        <valUSD>3954561.88000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-10-01</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, DePaul University</title>
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          <isin value="US45203H8L91"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Charleroi Borough Authority Water System Revenue</name>
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        <title>Charleroi Borough Authority Water System</title>
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          <isin value="US159735FU88"/>
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          <maturityDt>2024-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Tulane University Project</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Southwest Higher Education Authority, Inc.</name>
        <lei>N/A</lei>
        <title>Southwest Higher Education Authority, Inc., Southern Methodist University Project</title>
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          <isin value="US845040LL69"/>
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        <name>DeKalb County Community Unit School District No. 428 DeKalb</name>
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        <title>DeKalb County Community Unit School District No. 428 DeKalb</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-01-01</maturityDt>
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      <invstOrSec>
        <name>City of Waukegan IL Water &amp; Sewer System Revenue</name>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Regional Transportation District</name>
        <lei>N/A</lei>
        <title>Regional Transportation District, Denver Transit Partners</title>
        <cusip>759151BD4</cusip>
        <identifiers>
          <isin value="US759151BD44"/>
        </identifiers>
        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>184874.80000000</valUSD>
        <pctVal>0.016404440617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>








    </explntrNotes>
    <signature>
      <ncom:dateSigned>2022-12-30</ncom:dateSigned>
      <ncom:nameOfApplicant>JPMorgan Trust II</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
