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        <name>Arizona Sports &amp; Tourism Authority</name>
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        <name>Maricopa County Pollution Control Corp.</name>
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        <name>Allegheny County Airport Authority</name>
        <lei>N/A</lei>
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        <name>State of Connecticut</name>
        <lei>N/A</lei>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Jefferson AL Sewer Revenue</name>
        <lei>N/A</lei>
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        <name>City of New York NY</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-06-01</maturityDt>
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        <name>Village of Skokie IL</name>
        <lei>N/A</lei>
        <title>Village of Skokie</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
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        <name>Port of Seattle WA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Illinois Housing Development Authority</name>
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        <name>State of Illinois</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Glenview Park District</name>
        <lei>N/A</lei>
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        <name>City of Lakeland FL Department of Electric Utilities</name>
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        <name>Round Rock Independent School District</name>
        <lei>N/A</lei>
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        <name>Housing &amp; Redevelopment Authority of The City of St Paul Minnesota</name>
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        <title>Housing And Redevelopment Authority of The City of St. Paul Minnesota, Healtheast care System, Series 2015A</title>
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        <name>Maricopa County Pollution Control Corp.</name>
        <lei>549300QPXP6T4Y6I1D83</lei>
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        <cusip>566854EK7</cusip>
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        <name>Commonwealth of Pennsylvania</name>
        <lei>N/A</lei>
        <title>Commonwealth of Pennsylvania, Series 2024-1</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Miami-Dade County Housing Finance Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-01</maturityDt>
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          <annualizedRt>3.55000000</annualizedRt>
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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="US186387UL84"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Intermountain Power Agency</name>
        <lei>N/A</lei>
        <title>Intermountain Power Agency, Utah Power Supply, Series 2023A</title>
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          <isin value="US45884AE410"/>
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        <invCountry>US</invCountry>
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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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        <name>New York City Transitional Finance Authority</name>
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          <isin value="US64972JTY46"/>
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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>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>South Dakota Housing Development Authority</name>
        <lei>549300G853EK61667C18</lei>
        <title>South Dakota Housing Development Authority, Series 2024C</title>
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          <isin value="US83756LBH78"/>
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        <balance>1495000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>Indiana Finance Authority</name>
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        <title>Indiana Finance Authority, Indianapolis Power and Light Co. Project, Series 2021A</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.40000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Health &amp; Educational Facilities Authority of the State of Missouri</name>
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          <isin value="US60637ATR31"/>
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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>2052-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky State Property &amp; Building Commission</name>
        <lei>N/A</lei>
        <title>Kentucky State Property and Building Commission, Project No. 130, Series 2024B</title>
        <cusip>49151F3B4</cusip>
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          <isin value="US49151F3B40"/>
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        <balance>1510000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Connecticut</name>
        <lei>N/A</lei>
        <title>State of Connecticut, Series 2020A</title>
        <cusip>20772KHR3</cusip>
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          <isin value="US20772KHR32"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Panther Valley School District</name>
        <lei>N/A</lei>
        <title>Panther Valley School District</title>
        <cusip>698912PZ9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>North Carolina Housing Finance Agency</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
        <title>North Carolina Housing Finance Agency, Homeownership-1998 Trust, Series 57-A</title>
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        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority, School Districts Financing Program, Series 2025A</title>
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        <assetCat>DBT</assetCat>
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          <maturityDt>2029-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp., GFL Solid Waste Southeast LLC Project, Series 2024A</title>
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          <isin value="US34061XAG79"/>
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          <annualizedRt>4.37500000</annualizedRt>
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        <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>
        <cusip>146201DF2</cusip>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Grand Forks ND</name>
        <lei>N/A</lei>
        <title>City of Grand Forks, Altru Health System, Series 2023A</title>
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          <maturityDt>2028-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Main Street Natural Gas, Inc.</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
        <title>Main Street Natural Gas, Inc., Gas Supply, Series 2024D</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2054-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Harris County Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
        <title>Harris County Cultural Education Facilities Finance Corp., Memorial Hermann Health System, Series 2024B</title>
        <cusip>414009SD3</cusip>
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          <isin value="US414009SD33"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2031-07-01</maturityDt>
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      <invstOrSec>
        <name>City of Waukegan IL</name>
        <lei>N/A</lei>
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        <name>New York City Municipal Water Finance Authority</name>
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        <name>Irving Hospital Authority</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Parish of St. John the Baptist LA</name>
        <lei>N/A</lei>
        <title>Parish of St. John the Baptist, Marathon Oil Corp., Project, Series 2017C</title>
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          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Variable</couponKind>
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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>
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          <isin value="US914115P956"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>City of Wichita KS</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Tennergy Corp./TN</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Maricopa County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Maricopa County Industrial Development Authority, Banner Health, Series 2023A3</title>
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          <isin value="US56682HDW60"/>
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        <name>City of Tallahassee FL Energy System Revenue</name>
        <lei>N/A</lei>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Northville Public Schools</name>
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        <name>Allegheny County Airport Authority</name>
        <lei>N/A</lei>
        <title>Allegheny County Airport Authority, Pittsburgh International Airport, Series 2023A</title>
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        <name>Commonwealth Financing Authority</name>
        <lei>N/A</lei>
        <title>Commonwealth Financing Authority, Tobacco Master Settlement Payment</title>
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          <isin value="US20282EAK29"/>
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        <name>City of Cleveland OH Income Tax Revenue</name>
        <lei>N/A</lei>
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          <isin value="US186387TT30"/>
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        <name>Colorado Housing and Finance Authority</name>
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        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>City of Los Angeles Department of Airports, International Airport Subordinate, Series 2018B</title>
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        <name>Colorado School of Mines</name>
        <lei>549300TQMFMDZTM5HY46</lei>
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        <name>Duluth Independent School District No. 709</name>
        <lei>N/A</lei>
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          <isin value="US264474HM22"/>
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        <name>Curators of the University of Missouri (The)</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Jefferson AL Sewer Revenue</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Louisiana</name>
        <lei>N/A</lei>
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          <isin value="US546417KF26"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Irving Hospital Authority</name>
        <lei>N/A</lei>
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          <isin value="US463794JV04"/>
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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>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
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          <isin value="US546399EK86"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>252382.18000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Coppell Independent School District</name>
        <lei>N/A</lei>
        <title>Conroe Independent School District, Unlimited Tax, Series 2019</title>
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          <isin value="US217490AH40"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1065399.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>JEA Water &amp; Sewer System Revenue</name>
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        <title>JEA Water and Sewer System, Series 2017A</title>
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          <isin value="US46613P3E48"/>
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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>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>New Jersey Economic Development Authority</name>
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        <cusip>64577XET9</cusip>
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          <isin value="US64577XET90"/>
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        <balance>2320000.00000000</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>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-1</title>
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          <isin value="US74529JQD09"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3817567.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Waco TX</name>
        <lei>N/A</lei>
        <title>City of Waco, Combination Tax, Series 2024A</title>
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          <isin value="US929831YF67"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mississippi Development Bank</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Bethlehem Area School District</name>
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          <maturityDt>2026-11-15</maturityDt>
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        <name>Illinois Housing Development Authority</name>
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        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>City of San Antonio TX Electric &amp; Gas Systems Revenue</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Arkansas Development Finance Authority</name>
        <lei>N/A</lei>
        <title>Arkansas Development Finance Authority, Department of Community Correction Project</title>
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        <invCountry>US</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>Dahlonega Downtown Development Authority</name>
        <lei>N/A</lei>
        <title>Dahlonega Downtown Development Authority, North Georgia MAC, LLC Project</title>
        <cusip>23378RFA9</cusip>
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          <isin value="US23378RFA95"/>
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        <curCd>USD</curCd>
        <valUSD>250277.08000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>North Carolina Housing Finance Agency</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
        <title>North Carolina Housing Finance Agency, Series 2024</title>
        <cusip>65821BAM7</cusip>
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          <isin value="US65821BAM72"/>
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        <curCd>USD</curCd>
        <valUSD>4004253.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Panther Valley School District</name>
        <lei>N/A</lei>
        <title>Panther Valley School District</title>
        <cusip>698912PX4</cusip>
        <identifiers>
          <isin value="US698912PX44"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>731169.15000000</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>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Grundy &amp; Kendall Counties Consolidated Grade School District No. 60-C/IL</name>
        <lei>N/A</lei>
        <title>Grundy and Kendall Counties Consolidated Grade School District No. 60-C</title>
        <cusip>400199BU8</cusip>
        <identifiers>
          <isin value="US400199BU89"/>
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        <balance>1145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1179837.43000000</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>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Austin TX</name>
        <lei>IW10PQVTU7HKS3JMW253</lei>
        <title>City of Austin, Public Propertiy Finance Contractual Obligation</title>
        <cusip>052397W44</cusip>
        <identifiers>
          <isin value="US052397W446"/>
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        <balance>2190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2388032.94000000</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>2030-05-01</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>Wyandotte County Unified School District No. 202 Turner</name>
        <lei>N/A</lei>
        <title>Wyandotte County Unified School District No. 202 Turner, Series 2019A</title>
        <cusip>982683FL3</cusip>
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          <isin value="US982683FL37"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>420145.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Texas Municipal Gas Acquisition &amp; Supply Corp. IV</name>
        <lei>549300PTUE847QDBBW22</lei>
        <title>Texas Municipal Gas Acquisition and Supply Corp. IV Gas supply, Series 2023A</title>
        <cusip>88256PAG5</cusip>
        <identifiers>
          <isin value="US88256PAG54"/>
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        <balance>6790000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7174189.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pennsylvania Turnpike Commission</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
        <title>Pennsylvania Turnpike Commission, Motor License Fund, Enhanced, Subordinate, Series 2017-3</title>
        <cusip>709224B99</cusip>
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          <isin value="US709224B997"/>
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        <balance>1370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1425991.90000000</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>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority, Pace University, Series 2024A</title>
        <cusip>65000B4E5</cusip>
        <identifiers>
          <isin value="US65000B4E50"/>
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        <balance>250000.00000000</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>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Maine Turnpike Authority</name>
        <lei>N/A</lei>
        <title>Maine Turnpike Authority</title>
        <cusip>560551SA2</cusip>
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          <isin value="US560551SA20"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Isle Wight County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Isle Wight County Economic Development Authority, Riverside Health System, Series 2023</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority, Astro Texas Land Projects</title>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
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          <isin value="US59261AWX17"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Kentucky State Property &amp; Building Commission</name>
        <lei>N/A</lei>
        <title>Kentucky State Property and Building Commission, Project No. 113, Series 2024B</title>
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          <isin value="US49151F3A66"/>
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        <name>Northville Public Schools</name>
        <lei>N/A</lei>
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          <isin value="US667230UJ37"/>
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        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Long Bond</title>
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          <other otherDesc="Inhouse Sedol" value="USU5COM"/>
          <other otherDesc="Future Ticker" value="USU5 Comdty"/>
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      <invstOrSec>
        <name>Wisconsin Housing &amp; Economic Development Authority Home Ownership Revenue</name>
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      <invstOrSec>
        <name>County of Northampton PA</name>
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      <invstOrSec>
        <name>City of Houston TX Combined Utility System Revenue</name>
        <lei>N/A</lei>
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          <isin value="US44244CGK71"/>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Pennsylvania Housing Finance Agency</name>
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          <isin value="US70879QSZ71"/>
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          <maturityDt>2053-10-01</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>City of Dublin OH</name>
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          <isin value="US263713ZU64"/>
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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>4.00000000</annualizedRt>
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        <name>Spring Independent School District</name>
        <lei>N/A</lei>
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        <name>Indiana Finance Authority</name>
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          <maturityDt>2028-09-01</maturityDt>
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        <name>State of Illinois</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Montgomery County Industrial Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US61361TAB70"/>
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          <maturityDt>2029-06-01</maturityDt>
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        <name>Ohio Turnpike &amp; Infrastructure Commission</name>
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        <name>New Mexico Finance Authority</name>
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        <name>Texas A&amp;M University</name>
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        <name>Johnson City Health &amp; Educational Facilities Board</name>
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        <name>Cleveland County Educational Facilities Authority</name>
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        <name>Panther Valley School District</name>
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      <invstOrSec>
        <name>Southeast Community College Area</name>
        <lei>N/A</lei>
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          <isin value="US84134TAJ88"/>
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      <invstOrSec>
        <name>West Travis County Public Utility Agency</name>
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          <isin value="US95632CDG15"/>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
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          <isin value="US45470YFM84"/>
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        <name>San Antonio Water System</name>
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          <isin value="US79642GPQ90"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-01</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>City of Columbus OH</name>
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          <isin value="US1994928L62"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Champaign County Community Unit School District No. 4 Champaign</name>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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      <invstOrSec>
        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago Midway International Airport</name>
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          <isin value="US167562RS89"/>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Note</title>
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          <other otherDesc="Inhouse Sedol" value="TYU5COM"/>
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        <name>Highlands County Health Facilities Authority</name>
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        <name>Isle Wight County Industrial Development Authority</name>
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        <name>Cuyahoga Community College District</name>
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        <name>Columbia County Hospital Authority/GA</name>
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        <name>Chicago Park District</name>
        <lei>549300DNSTZGBZLIU409</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Bastrop TX</name>
        <lei>N/A</lei>
        <title>County of Bastrop, Combination Tax</title>
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          <isin value="US070307SF14"/>
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        <curCd>USD</curCd>
        <valUSD>1245772.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Waukegan IL</name>
        <lei>N/A</lei>
        <title>City of Waukegan, Series 2018B</title>
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          <isin value="US942860SQ10"/>
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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>2026-12-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Arlington Higher Education Finance Corp.</name>
        <lei>N/A</lei>
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          <isin value="US041806ML19"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Pennsylvania Housing Finance Agency</name>
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          <isin value="US70879QXV03"/>
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        <curCd>USD</curCd>
        <valUSD>3265404.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>Atlanta Development Authority (The)</name>
        <lei>N/A</lei>
        <title>Atlanta Development Authority (The), New Downtown Atlanta Stadium Project, Senior Lien, Series A-1</title>
        <cusip>04780NJA6</cusip>
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          <isin value="US04780NJA63"/>
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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>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Triborough Bridge &amp; Tunnel Authority</name>
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        <title>Triborough Bridge and Tunnel Authority, Series 2024B</title>
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          <isin value="US89602HHD26"/>
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        <curCd>USD</curCd>
        <valUSD>7247901.50000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Ohio</name>
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        <title>State of Ohio, Common School, Series 2023A</title>
        <cusip>677523FV9</cusip>
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          <isin value="US677523FV92"/>
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        <balance>7870000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lower Colorado River Authority</name>
        <lei>549300QJFPW2NNBYR215</lei>
        <title>Lower Colorado River Authority, LCRA Transmission Services Corp. Project, Series 2023A</title>
        <cusip>54811BF63</cusip>
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          <isin value="US54811BF630"/>
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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>2030-05-15</maturityDt>
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        <name>Effingham Community Unit School District No. 40</name>
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        <title>Effingham Community Unit School District No. 40, Series 2019A</title>
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          <isin value="US282065CK59"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Isle Wight County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Isle Wight County Economic Development Authority, Riverside Health System, Series 2023</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority, School Districts Financing Program, Series 2020A</title>
        <cusip>65000BQU5</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Ultra Bond</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="WNU5COS"/>
          <other otherDesc="Future Ticker" value="WNU5 Comdty"/>
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        <valUSD>-32075.92000000</valUSD>
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        <name>County of Prince George's MD</name>
        <lei>549300NSQ1W50I0VU811</lei>
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        <cusip>7417016K7</cusip>
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          <isin value="US7417016K70"/>
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        <name>Norfolk Economic Development Authority</name>
        <lei>N/A</lei>
        <title>Norfolk Economic Development Authority, Sentara Healthcare, Series 2018A</title>
        <cusip>65588TAS8</cusip>
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          <isin value="US65588TAS87"/>
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      <invstOrSec>
        <name>Central Puget Sound Regional Transit Authority</name>
        <lei>N/A</lei>
        <title>Central Puget Sound Regional Transit Authority, Series 2021S 1</title>
        <cusip>155048DQ1</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2025-11-01</maturityDt>
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      <invstOrSec>
        <name>Pennsylvania Economic Development Financing Authority</name>
        <lei>N/A</lei>
        <title>Pennsylvania Economic Development Financing Authority, Waste Management, Inc. Project, Series 2021A-2</title>
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        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Rhode Island Commerce Corp.</name>
        <lei>N/A</lei>
        <title>Rhode Island Commerce Corp., Department of Transportation, Series 2016B</title>
        <cusip>762232AL0</cusip>
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          <isin value="US762232AL00"/>
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        <balance>50000.00000000</balance>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Texas Municipal Gas Acquisition and Supply Corp. I</name>
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          <isin value="US88256CEX39"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lower Colorado River Authority</name>
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        <balance>805000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>870192.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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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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        <balance>820000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>832009.15000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Columbia County Hospital Authority/GA</name>
        <lei>N/A</lei>
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        <cusip>197479AF5</cusip>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>406409.24000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southeastern Pennsylvania Transportation Authority</name>
        <lei>98450061A2F3FD36E493</lei>
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        <cusip>842039FC8</cusip>
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          <isin value="US842039FC84"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>111886.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Sandoval NM</name>
        <lei>N/A</lei>
        <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>664552.79000000</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>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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          <isLoanByFund>N</isLoanByFund>
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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>
        <cusip>186387UP9</cusip>
        <identifiers>
          <isin value="US186387UP98"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>262985.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2002-36, Class FS</title>
        <cusip>31392DKJ0</cusip>
        <identifiers>
          <isin value="US31392DKJ09"/>
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        <balance>4071.68000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4069.27000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.93644960</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Empire State Development Corp.</name>
        <lei>54930039Y2EMGXN6LM88</lei>
        <title>Empire State Development Corp., State Personal Income Tax, Series 2017C</title>
        <cusip>6500356R4</cusip>
        <identifiers>
          <isin value="US6500356R42"/>
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        <balance>1115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1151365.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Metropolitan Washington Airports Authority Aviation Revenue</name>
        <lei>N/A</lei>
        <title>Metropolitan Washington Airports Authority Aviation, Series 2024A</title>
        <cusip>592647MN8</cusip>
        <identifiers>
          <isin value="US592647MN87"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1064084.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Black Belt Energy Gas District</name>
        <lei>549300I8V0Z68JQCB679</lei>
        <title>Black Belt Energy Gas District, Gas Prepay Project No. 7, Series 2021C-1</title>
        <cusip>09182TAM9</cusip>
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          <isin value="US09182TAM99"/>
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        <balance>7515000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Ultra Note</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="UXYU5CM"/>
          <other otherDesc="Future Ticker" value="UXYU5 Comdty"/>
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        <balance>-27.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-37364.05000000</valUSD>
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        <assetCat>DIR</assetCat>
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        <name>Southern Ute Indian Tribe of the Southern Ute Reservation of Colorado</name>
        <lei>549300X0RZRBWLO0J697</lei>
        <title>Southern Ute Indian Tribe of the Southern Ute Reservation of Colorado, Series 2025A</title>
        <cusip>844090AD2</cusip>
        <identifiers>
          <isin value="US844090AD23"/>
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        <balance>2500000.00000000</balance>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Hereford Independent School District</name>
        <lei>N/A</lei>
        <title>Hereford Independent School District, School Building, Unlimited Tax</title>
        <cusip>427128EC3</cusip>
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          <isin value="US427128EC38"/>
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        <balance>1480000.00000000</balance>
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        <valUSD>1499139.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Deutsche Intermediate Tax-Free Fund</name>
        <lei>N/A</lei>
        <title>City of Houston, Combined Utility System, First Lien, Series 2024A</title>
        <cusip>44244CS40</cusip>
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          <isin value="US44244CS406"/>
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        <balance>4150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4357427.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>North Texas Tollway Authority, First Tier, Series 2023A</title>
        <cusip>66285WM60</cusip>
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          <isin value="US66285WM601"/>
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        <balance>3740000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3784439.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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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</title>
        <cusip>158249LR1</cusip>
        <identifiers>
          <isin value="US158249LR11"/>
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        <balance>1285000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1317371.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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      <invstOrSec>
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        <name>Illinois Finance Authority</name>
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        <name>Maricopa County Industrial Development Authority</name>
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          <maturityDt>2053-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Long Island Power Authority</name>
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          <maturityDt>2027-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Wisconsin</name>
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        <name>California Statewide Communities Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Utah Infrastructure Agency</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Peoria County Community Unit School District No. 309 Brimfield</name>
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        <name>New York State Dormitory Authority</name>
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        <name>Peoria County Community Unit School District No. 309 Brimfield</name>
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        <name>Mississippi Business Finance Corp.</name>
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          <maturityDt>2028-09-01</maturityDt>
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          <annualizedRt>3.20000000</annualizedRt>
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        <name>Cleveland County Educational Facilities Authority</name>
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        <name>Maricopa County Industrial Development Authority</name>
        <lei>N/A</lei>
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        <name>Isle Wight County Industrial Development Authority</name>
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        <name>North Carolina Housing Finance Agency</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
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        <name>Lone Star College System</name>
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        <title>Lone Star College System, Limited Tax, Series 2016</title>
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          <isin value="US542264GT78"/>
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        <invCountry>US</invCountry>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <isin value="US6461363Q23"/>
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      <invstOrSec>
        <name>Allegheny County Higher Education Building Authority</name>
        <lei>N/A</lei>
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          <isin value="US01729EKZ96"/>
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      <invstOrSec>
        <name>City of Rockport IN</name>
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          <maturityDt>2025-06-01</maturityDt>
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      <invstOrSec>
        <name>Bastrop Independent School District</name>
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          <isin value="US070329X361"/>
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          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Mississippi Gaming Tax Revenue</name>
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          <isin value="US605638BF16"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Kansas Department of Transportation</name>
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          <isin value="US485424TP01"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Waukegan IL Water &amp; Sewer System Revenue</name>
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        <cusip>943011JX5</cusip>
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          <isin value="US943011JX59"/>
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        <balance>680000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-30</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
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          <isin value="US6461363L36"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Peoria County Community Unit School District No. 309 Brimfield</name>
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          <isin value="US713125AZ56"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Pasco County School Board</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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        <name>Illinois Finance Authority</name>
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          <maturityDt>2046-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Texas</name>
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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
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        <name>Grand Parkway Transportation Corp.</name>
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          <isin value="US38611TDR59"/>
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          <maturityDt>2052-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Oklahoma County Independent School District No. 52 Midwest City-Del City</name>
        <lei>N/A</lei>
        <title>Oklahoma County Independent School District No. 52 Midwest City-Del City, Series 2024</title>
        <cusip>678807RQ3</cusip>
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          <isin value="US678807RQ33"/>
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          <maturityDt>2028-07-01</maturityDt>
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        <name>Commonwealth of Pennsylvania</name>
        <lei>N/A</lei>
        <title>Commonwealth of Pennsylvania, Series 2024-1</title>
        <cusip>70914P3U4</cusip>
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          <isin value="US70914P3U49"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Metropolitan Transit Authority of Harris County Sales &amp; Use Tax Revenue</name>
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        <title>Metropolitan Transit Authority of Harris County Sales and Use Tax, Series A</title>
        <cusip>41422EFS7</cusip>
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          <isin value="US41422EFS72"/>
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          <maturityDt>2028-11-01</maturityDt>
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        <name>Champaign County Community Unit School District No. 4 Champaign</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Wyandotte County Unified School District No. 202 Turner</name>
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      <invstOrSec>
        <name>Austin Community College District Public Facility Corp.</name>
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        <name>State of Louisiana</name>
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        <name>Cleveland County Educational Facilities Authority</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>New York City Transitional Finance Authority</name>
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        <name>Metropolitan Transportation Authority Dedicated Tax Fund</name>
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        <name>Southeast Community College Area</name>
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        <name>County of Miami-Dade FL Water &amp; Sewer System Revenue</name>
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        <name>Los Angeles Community College District</name>
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        <name>Energy Northwest</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Kentucky State Property &amp; Building Commission</name>
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        <issuerCat>MUN</issuerCat>
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      <invstOrSec>
        <name>Plano Independent School District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
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          <isin value="US13063C6A36"/>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Grady County School Finance Authority</name>
        <lei>N/A</lei>
        <title>Grady County School Finance Authority, Educational Facilities Lease, Minco Public Schools Project</title>
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          <isin value="US384201FZ74"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>New Hampshire Municipal Bond Bank</name>
        <lei>N/A</lei>
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          <isin value="US64465QAJ58"/>
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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>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Van Wert OH</name>
        <lei>N/A</lei>
        <title>County of Van Wert, Ohio Hospital Facilities</title>
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          <isin value="US921297AA56"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3306018.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Commonwealth Financing Authority</name>
        <lei>N/A</lei>
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        <cusip>20281PLC4</cusip>
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          <isin value="US20281PLC40"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>535509.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Illinois</name>
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        <title>State of Illinois</title>
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          <isin value="US4521526K26"/>
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        <balance>1525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1606386.05000000</valUSD>
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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>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <cusip>64990FZK3</cusip>
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          <isin value="US64990FZK38"/>
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        <balance>535000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>589190.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tobacco Settlement Financing Corp.</name>
        <lei>N/A</lei>
        <title>Tobacco Settlement Financing Corp., Series 2018A</title>
        <cusip>888808HD7</cusip>
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          <isin value="US888808HD75"/>
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        <balance>2230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2296641.99000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <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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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of St Louis MO Airport Revenue</name>
        <lei>N/A</lei>
        <title>City of St. Louis Airport, Series 2007A</title>
        <cusip>791638XV6</cusip>
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          <isin value="US791638XV67"/>
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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>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Metropolitan Washington Airports Authority Aviation Revenue</name>
        <lei>N/A</lei>
        <title>Metropolitan Washington Airports Authority Aviation, Series 2023A</title>
        <cusip>592647LH2</cusip>
        <identifiers>
          <isin value="US592647LH29"/>
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        <balance>875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>879091.76000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York City Transitional Finance Authority</name>
        <lei>5493003476LG35QAKM08</lei>
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          <isin value="US64972JHJ07"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky Public Energy Authority</name>
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          <isin value="US74440DEC48"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>Southwestern Illinois Development Authority</name>
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        <title>Southwestern Illinois Development Authority, Hospital Sisters Services, Inc., Obligated Group, Series 2017A</title>
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        <name>City of Mesa AZ</name>
        <lei>549300L1QYAKFHSIGE94</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2025-07-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Main Street Natural Gas, Inc.</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
        <title>Main Street Natural Gas, Inc., Gas Supply, Series 2024C</title>
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          <isin value="US56035DHQ88"/>
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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>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>Austin Community College District Public Facility Corp.</name>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>Wyandotte County Unified School District No. 202 Turner</name>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <name>State of Illinois</name>
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          <isin value="US4521522L45"/>
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      <invstOrSec>
        <name>Will County Forest Preserve District</name>
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          <maturityDt>2027-12-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isin value="US3733846L53"/>
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        <invCountry>US</invCountry>
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          <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>Hampton Roads Sanitation District</name>
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          <isin value="US409327LV33"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Columbia County Hospital Authority/GA</name>
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        <name>Duluth Independent School District No. 709</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Institutional Tax Free Money Market Fund</name>
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        <issuerCat>RF</issuerCat>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Kansas Development Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-15</maturityDt>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <name>Florida Municipal Power Agency</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Glendale AZ</name>
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        <name>State of Illinois</name>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Phoenix Civic Improvement Corp.</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>Kane &amp; DeKalb Counties Community Unit School District No. 301 Burlington</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Washington Metropolitan Area Transit Authority</name>
        <lei>549300ADKOK76HQMJS30</lei>
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          <isin value="US938782FJ33"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Main Street Natural Gas, Inc.</name>
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          <isin value="US56035DHP06"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
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          <isin value="US65000BW798"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Lubbock TX Electric Light &amp; Power System Revenue</name>
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        <title>City of Lubbock, Electric Light and Power System, Series 2022</title>
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          <isin value="US549203XV49"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Glenview Park District</name>
        <lei>N/A</lei>
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          <isin value="US379028SB03"/>
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          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Black Belt Energy Gas District</name>
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          <isin value="US09182TBC09"/>
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          <maturityDt>2053-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>General Authority of Southcentral Pennsylvania</name>
        <lei>549300QBNU5LBV4QX812</lei>
        <title>General Authority of Southcentral Pennsylvania, Hanover Hospital, Inc.</title>
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          <isin value="US84129NKF59"/>
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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>Kentucky State Property &amp; Building Commission</name>
        <lei>N/A</lei>
        <title>Kentucky State Property and Building Commission, Project No. 124, Series A</title>
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          <isin value="US49151FL653"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Illinois</name>
        <lei>54930048FV8RWPR02D67</lei>
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          <isin value="US452153JL46"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Connecticut</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Grand Forks ND</name>
        <lei>N/A</lei>
        <title>City of Grand Forks, Altru Health System, Series 2023A</title>
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          <isin value="US38546WDV90"/>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chicago Transit Authority Capital Grant Receipts Revenue</name>
        <lei>N/A</lei>
        <title>Chicago Transit Authority Capital Grant Receipts, Series 2021</title>
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          <maturityDt>2027-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Cook County Community Unit School District No. 401 Elmwood Park</name>
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          <isin value="US216048HG68"/>
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        <name>State of Illinois</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>State of Illinois, Series 2024B</title>
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          <isin value="US452153JK62"/>
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          <maturityDt>2028-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Duluth Independent School District No. 709</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Chicago Midway International Airport</name>
        <lei>N/A</lei>
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          <isin value="US167562RR07"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Commonwealth Financing Authority</name>
        <lei>N/A</lei>
        <title>Commonwealth Financing Authority, Tobacco Master Settlement Payment</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southeast Energy Authority A Cooperative District</name>
        <lei>25490090A3RLJHITY273</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Port Authority of New York &amp; New Jersey</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Columbus Medical Center Hospital Authority</name>
        <lei>N/A</lei>
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          <isin value="US199124BR82"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Louisiana Public Facilities Authority</name>
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        <name>Intermountain Power Agency</name>
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          <isin value="US45884AA459"/>
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        <name>Pennsylvania Turnpike Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Omaha School District</name>
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        <name>Hereford Independent School District</name>
        <lei>N/A</lei>
        <title>Hereford Independent School District, School Building, Unlimited Tax</title>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <name>State of California</name>
        <lei>N/A</lei>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>State of Colorado</name>
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        <title>State of Colorado, Series 2018A</title>
        <cusip>196711QZ1</cusip>
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          <isin value="US196711QZ15"/>
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        <name>City of Waukegan IL Water &amp; Sewer System Revenue</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Commonwealth of Pennsylvania</name>
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        <name>Metropolitan Washington Airports Authority Aviation Revenue</name>
        <lei>N/A</lei>
        <title>Metropolitan Washington Airports Authority Aviation, Series 2021A</title>
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        <name>Nebraska Investment Finance Authority</name>
        <lei>549300OIIXIM3SRZWK33</lei>
        <title>Nebraska Investment Finance Authority, Single Family Housing, Series 2023C</title>
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        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <invCountry>US</invCountry>
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          <annualizedRt>4.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Harris County Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
        <title>Harris County Cultural Education Facilities Finance Corp., Memorial Hermann Health System, Series 2024C</title>
        <cusip>414009SP6</cusip>
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          <isin value="US414009SP62"/>
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        <curCd>USD</curCd>
        <valUSD>2120812.40000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Fort Worth Independent School District</name>
        <lei>N/A</lei>
        <title>Fort Worth Independent School District</title>
        <cusip>349461FL2</cusip>
        <identifiers>
          <isin value="US349461FL29"/>
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        <balance>1950000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2094247.16000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia, Series 2024C</title>
        <cusip>25476FH68</cusip>
        <identifiers>
          <isin value="US25476FH684"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5345620.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Chattanooga TN Electric Revenue</name>
        <lei>N/A</lei>
        <title>City of Chattanooga Electric</title>
        <cusip>162393GS5</cusip>
        <identifiers>
          <isin value="US162393GS54"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2136511.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Upper St. Clair Township School District</name>
        <lei>N/A</lei>
        <title>Upper St. Clair Township School District, Series 2019B</title>
        <cusip>916507RL2</cusip>
        <identifiers>
          <isin value="US916507RL27"/>
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        <balance>575000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>581099.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Geisinger Authority</name>
        <lei>N/A</lei>
        <title>Geisinger Authority, Health System, Series 2020C</title>
        <cusip>368497JY0</cusip>
        <identifiers>
          <isin value="US368497JY02"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1060224.90000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority, Sales Tax, Series 2024B</title>
        <cusip>64990AWB7</cusip>
        <identifiers>
          <isin value="US64990AWB78"/>
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        <balance>6140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6722731.44000000</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>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Harris County Fresh Water Supply District No. 61</name>
        <lei>N/A</lei>
        <title>Harris County Fresh Water Supply District No. 61, Unlimited Tax</title>
        <cusip>414150TX0</cusip>
        <identifiers>
          <isin value="US414150TX01"/>
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        <balance>530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>529055.06000000</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>3.00000000</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, Series 2024A</title>
        <cusip>04052FEN1</cusip>
        <identifiers>
          <isin value="US04052FEN15"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2631409.50000000</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>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Upper St. Clair Township School District</name>
        <lei>N/A</lei>
        <title>Upper St. Clair Township School District, Series 2019B</title>
        <cusip>916507RM0</cusip>
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          <isin value="US916507RM00"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>424044.31000000</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>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fort Pierce Utilities Authority</name>
        <lei>N/A</lei>
        <title>Fort Pierce Utilities Authority, Series 2022A</title>
        <cusip>348430PD5</cusip>
        <identifiers>
          <isin value="US348430PD50"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>423511.20000000</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>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Austin TX Water &amp; Wastewater System Revenue</name>
        <lei>N/A</lei>
        <title>City of Austin Water and Wastewater System, Series 2024</title>
        <cusip>052477XZ4</cusip>
        <identifiers>
          <isin value="US052477XZ49"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2672603.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Grand Forks ND</name>
        <lei>N/A</lei>
        <title>City of Grand Forks, Altru Health System, Series 2023A</title>
        <cusip>38546WDW7</cusip>
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          <isin value="US38546WDW73"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>337894.41000000</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>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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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, Series 2018</title>
        <cusip>967323AJ5</cusip>
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          <isin value="US967323AJ58"/>
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        <balance>465000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>476154.00000000</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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      <invstOrSec>
        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>State of Washington, Various Purpose, Series 2024C</title>
        <cusip>93974ES72</cusip>
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          <isin value="US93974ES727"/>
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        <balance>3000000.00000000</balance>
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        <valUSD>3107095.80000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
        <title>State of Ohio, Infrastructure Improvement, Series 2025A</title>
        <cusip>677523KL5</cusip>
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          <isin value="US677523KL55"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1095185.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Royal Oak MI</name>
        <lei>N/A</lei>
        <title>City of Royal Oak, Limited Tax, Capital Improvement</title>
        <cusip>780464LM3</cusip>
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          <isin value="US780464LM31"/>
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        <balance>625000.00000000</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>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Pennsylvania Turnpike Commission</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
        <title>Pennsylvania Turnpike Commission, Series 2019</title>
        <cusip>709224L72</cusip>
        <identifiers>
          <isin value="US709224L723"/>
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        <balance>3900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4115974.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New York City Transitional Finance Authority</name>
        <lei>5493003476LG35QAKM08</lei>
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          <isin value="US64972JPX09"/>
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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>
      <invstOrSec>
        <name>Austin Community College District Public Facility Corp.</name>
        <lei>N/A</lei>
        <title>Austin Community College District Public Facility Corp., Lease, Highland Campus Parking Garage Project, Series 2018C</title>
        <cusip>052405EY9</cusip>
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          <isin value="US052405EY99"/>
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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>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Jackson County School District No. R-IV Blue Springs</name>
        <lei>N/A</lei>
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        <cusip>467486XC5</cusip>
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          <isin value="US467486XC52"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>New York City Industrial Development Agency</name>
        <lei>549300XR20ZR5DHL9534</lei>
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        <cusip>64971PKA2</cusip>
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          <isin value="US64971PKA20"/>
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        <curCd>USD</curCd>
        <valUSD>1719156.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Charleston Educational Excellence Finance Corp.</name>
        <lei>N/A</lei>
        <title>Charleston Educational Excellence Finance Corp., Installment Purchase, Charleston County School District, South Carolina Project, Series 2024</title>
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          <isin value="US160131ES32"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Polk County School District</name>
        <lei>549300N07FMPTRZO0044</lei>
        <title>Polk County School District, Sales Tax</title>
        <cusip>731127CZ7</cusip>
        <identifiers>
          <isin value="US731127CZ70"/>
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        <curCd>USD</curCd>
        <valUSD>1094071.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rappahannock Regional Jail Authority</name>
        <lei>N/A</lei>
        <title>Rappahannock Regional Jail Authority, Series 2015</title>
        <cusip>75381NCP3</cusip>
        <identifiers>
          <isin value="US75381NCP33"/>
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        <balance>1090000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1097214.27000000</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>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fort Pierce Utilities Authority</name>
        <lei>N/A</lei>
        <title>Fort Pierce Utilities Authority, Series 2022A</title>
        <cusip>348430PE3</cusip>
        <identifiers>
          <isin value="US348430PE34"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>509530.74000000</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>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
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        <cusip>59261APW1</cusip>
        <identifiers>
          <isin value="US59261APW17"/>
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        <balance>2610000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2677082.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Houston TX Airport System Revenue</name>
        <lei>N/A</lei>
        <title>City of Houston, Airport System, Subordinate Lien, Series 2018B</title>
        <cusip>442349BC9</cusip>
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          <isin value="US442349BC90"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Tulane University of Louisiana Project, Series 2023A</title>
        <cusip>546399PX8</cusip>
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          <isin value="US546399PX88"/>
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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>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Missouri Highway &amp; Transportation Commission</name>
        <lei>N/A</lei>
        <title>Missouri Highway and Transportation Commission, Series 2022A</title>
        <cusip>60636WTF2</cusip>
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          <isin value="US60636WTF22"/>
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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>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Washington Health Care Facilities Authority</name>
        <lei>549300ZVPWQIL3N5TL85</lei>
        <title>Washington Health Care Facilities Authority, Commonspirit Health, Series 2019B-3</title>
        <cusip>93978HVB8</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Michigan State Hospital Finance Authority</name>
        <lei>54930011MIBQ2P7ZNM19</lei>
        <title>Michigan State Hospital Finance Authority, Trinity Health Credit Group, Series 2008C</title>
        <cusip>59465HUQ7</cusip>
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          <isin value="US59465HUQ72"/>
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        <invCountry>US</invCountry>
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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>
        <lei>549300ISNGXS0VHGVD41</lei>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Southeast Community College Area</name>
        <lei>N/A</lei>
        <title>Southeast Community College Area, Tax Supported</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Tulane University of Louisiana Project, Series 2023A</title>
        <cusip>546399PY6</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Maricopa County Union High School District No. 210-Phoenix</name>
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        <name>New York City Transitional Finance Authority</name>
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        <name>Hampton Roads Transportation Accountability Commission</name>
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        <name>Dahlonega Downtown Development Authority</name>
        <lei>N/A</lei>
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        <name>Los Angeles Unified School District</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Dallas County Utility &amp; Reclamation District</name>
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        <name>County Square Redevelopment Corp.</name>
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        <name>Metropolitan Transportation Authority</name>
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    <explntrNotes>








    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>JPMorgan Trust II</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
