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      <invstOrSec>
        <name>Indiana Municipal Power Agency</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Capital Projects Finance Authority/FL</name>
        <lei>N/A</lei>
        <title>Capital Projects Finance Authority, Student Housing, Program Unionwest Properties LLC Project, Series 2024A-1</title>
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          <isin value="US140427CP81"/>
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          <maturityDt>2049-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-06-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>State of Oregon</name>
        <lei>549300R5SUGZRD8KP359</lei>
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          <isin value="US68609URL16"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Village of Bolingbrook IL</name>
        <lei>N/A</lei>
        <title>Village of Bolingbrook, Series 2018A</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Minnesota Housing Finance Agency</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-01-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>County of Santa Fe NM</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-12-10</maturityDt>
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        <name>North Carolina Housing Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>New York City Transitional Finance Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Round Rock Independent School District</name>
        <lei>N/A</lei>
        <title>Round Rock Independent School District, Series 2025B</title>
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        <balance>1000000.00000000</balance>
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        <name>County of Allen OH Hospital Facilities Revenue</name>
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          <maturityDt>2045-11-01</maturityDt>
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        <name>Main Street Natural Gas, Inc.</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
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        <name>Midland Independent School District</name>
        <lei>N/A</lei>
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        <name>Metropolitan Transportation Authority</name>
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        <name>University of North Carolina at Chapel Hill</name>
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        <name>Black Belt Energy Gas District</name>
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      <invstOrSec>
        <name>Atlanta Urban Residential Finance Authority</name>
        <lei>N/A</lei>
        <title>Atlanta Urban Residential Finance Authority, Multi-Family Housing North Block, Series 2025</title>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <name>Birdville Independent School District</name>
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        <name>Commonwealth Financing Authority</name>
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        <title>Commonwealth Financing Authority, Tobacco Master Settlement Payment</title>
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        <name>Michigan Finance Authority</name>
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        <name>Tobacco Settlement Financing Corp.</name>
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        <name>Chicago Midway International Airport</name>
        <lei>N/A</lei>
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          <isin value="US167562SG33"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-01-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Knox County Health Educational &amp; Housing Facility Board</name>
        <lei>N/A</lei>
        <title>Knox County Health Educational and Housing Facility Board, University of Tennessee Project, Series 2024A-1</title>
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          <isin value="US499526AS07"/>
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        <valUSD>767529.60000000</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>2054-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>New York Power Authority</name>
        <lei>I5P1GEYFGGMMDOFX2L30</lei>
        <title>New York Power Authority, Green Transmission Project, Series 2023A</title>
        <cusip>65000XBW9</cusip>
        <identifiers>
          <isin value="US65000XBW92"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4052344.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority, University of Nevada Reno Project, Series 2023A</title>
        <cusip>63610FBM7</cusip>
        <identifiers>
          <isin value="US63610FBM77"/>
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        <balance>1075000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>996834.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Central Texas Turnpike System</name>
        <lei>N/A</lei>
        <title>Central Texas Turnpike System, First Tier, Series 2024B</title>
        <cusip>88283KBQ0</cusip>
        <identifiers>
          <isin value="US88283KBQ04"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1052041.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Olmsted Falls City School District</name>
        <lei>N/A</lei>
        <title>Olmsted Falls City School District, Series 2017A</title>
        <cusip>681233DW9</cusip>
        <identifiers>
          <isin value="US681233DW96"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>873334.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pennsylvania Economic Development Financing Authority</name>
        <lei>N/A</lei>
        <title>Pennsylvania Economic Development Financing Authority, The Penndot Major Bridges</title>
        <cusip>70868YAX7</cusip>
        <identifiers>
          <isin value="US70868YAX76"/>
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        <balance>2825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2718023.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-12-31</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>West Virginia Economic Development Authority</name>
        <lei>549300WW88TKKF5H1220</lei>
        <title>West Virginia Economic Development Authority, Solid Waste Disposal Facilities, Commercial Metal Co. Project</title>
        <cusip>95648VBV0</cusip>
        <identifiers>
          <isin value="US95648VBV09"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>993932.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Salt River Project Agricultural Improvement &amp; Power District</name>
        <lei>SHB8HO6GKXJ83RX5OV39</lei>
        <title>Salt River Project Agricultural Improvement and Power District, Series 2023B</title>
        <cusip>79574CFQ1</cusip>
        <identifiers>
          <isin value="US79574CFQ15"/>
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        <balance>1630000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1674846.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wisconsin Department of Transportation</name>
        <lei>N/A</lei>
        <title>Wisconsin Department of Transportation, Series 2025 1</title>
        <cusip>9771235F1</cusip>
        <identifiers>
          <isin value="US9771235F13"/>
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        <balance>1665000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1891891.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority, Transportation Program, Series 2024CC</title>
        <cusip>64613CGF9</cusip>
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          <isin value="US64613CGF95"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2033242.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Housing Finance Agency</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
        <title>North Carolina Housing Finance Agency, Homeownership, Series 55-C</title>
        <cusip>65820BBB1</cusip>
        <identifiers>
          <isin value="US65820BBB18"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>999329.50000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>Industrial Development Authority of the City of Phoenix Arizona (The)</name>
        <lei>549300A62PWFBDWB8332</lei>
        <title>Industrial Development Authority of The City of Phoenix, Downtown Phoenix Student Housing LLC - Arizona State University Project, Series 2018A</title>
        <cusip>71885DCX8</cusip>
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          <isin value="US71885DCX84"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>355044.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>State of Connecticut</name>
        <lei>5493007GRO6CU0IKP741</lei>
        <title>State of Connecticut, Series A</title>
        <cusip>20772J6Q0</cusip>
        <identifiers>
          <isin value="US20772J6Q06"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>155399.69000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Shelby County Health Educational &amp; Housing Facilities Board</name>
        <lei>N/A</lei>
        <title>Shelby County Health Educational and Housing Facilities Board, Baptism Memorial Health Obligated Group, Series 2024B</title>
        <cusip>821691AC6</cusip>
        <identifiers>
          <isin value="US821691AC66"/>
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        <balance>1335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1390506.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Intermountain Power Agency</name>
        <lei>N/A</lei>
        <title>Intermountain Power Agency, Utah Power Supply, Series 2023A</title>
        <cusip>45884AF24</cusip>
        <identifiers>
          <isin value="US45884AF243"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1059254.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>State of Illinois</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>State of Illinois, Series 2024B</title>
        <cusip>452153JH3</cusip>
        <identifiers>
          <isin value="US452153JH34"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1523571.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Ridgeville City School District</name>
        <lei>N/A</lei>
        <title>North Ridgeville City School District, Series 2024</title>
        <cusip>661870LX1</cusip>
        <identifiers>
          <isin value="US661870LX12"/>
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        <balance>1165000.00000000</balance>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>Municipal Electric Authority of Georgia</name>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp.</name>
        <lei>N/A</lei>
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          <maturityDt>2066-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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          <maturityDt>2029-08-01</maturityDt>
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        <name>New Jersey Economic Development Authority</name>
        <lei>5493006JS6QWDVU4R678</lei>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>California County Tobacco Securitization Agency, Los Angeles County Securitization Corp., Series 2020A</title>
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        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp., Brightline Florida Passenger Rail Project, Series 2024</title>
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          <isin value="US340618DQ76"/>
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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. 131, Series A</title>
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          <maturityDt>2043-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement, Series 2021B</title>
        <cusip>38122NB76</cusip>
        <identifiers>
          <isin value="US38122NB769"/>
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          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Main Street Natural Gas, Inc.</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
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        <name>Town of Queen Creek AZ Excise Tax Revenue</name>
        <lei>N/A</lei>
        <title>Town of Queen Creek Excise Tax</title>
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      <invstOrSec>
        <name>Montgomery County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Montgomery County Industrial Development Authority, Constellation Energy Generation, Series 2023A</title>
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          <isin value="US61361TAA97"/>
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          <annualizedRt>4.10000000</annualizedRt>
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      <invstOrSec>
        <name>New York City Housing Development Corp.</name>
        <lei>549300SQWVHKBRF8D702</lei>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Maricopa County Union High School District No. 216 Agua Fria</name>
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        <title>Maricopa County Union High School District No. 216 Agua Fria, Project of 2023 and 2024</title>
        <cusip>567541SF5</cusip>
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        <invCountry>US</invCountry>
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        <name>Permanent University Fund - University of Texas System</name>
        <lei>549300GZUEUTLKVGLF98</lei>
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        <invCountry>US</invCountry>
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        <name>Colorado Health Facilities Authority</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority, CommonSpirit Health, Series 2019A-1</title>
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          <isin value="US19648FKA11"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp., Delta Air Lines, Inc., LaGuardia Airport Terminals C&amp;D Redevelopment Project, Series 2018</title>
        <cusip>650116CQ7</cusip>
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          <isin value="US650116CQ76"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Colorado Educational &amp; Cultural Facilities Authority</name>
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          <isin value="US19645UNS95"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2062-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Public Finance Authority</name>
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          <isin value="US74439YFZ97"/>
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        <curCd>USD</curCd>
        <valUSD>747421.65000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>Minnesota Housing Finance Agency</name>
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          <isin value="US60416UGU34"/>
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        <curCd>USD</curCd>
        <valUSD>1104317.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago Midway International Airport</name>
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          <isin value="US167562SH16"/>
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        <curCd>USD</curCd>
        <valUSD>2245213.48000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>Missouri State Environmental Improvement &amp; Energy Resources Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Hampshire Business Finance Authority</name>
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          <isin value="US63607WBD56"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-01-20</maturityDt>
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          <annualizedRt>4.16800080</annualizedRt>
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        <name>Arizona Industrial Development Authority</name>
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        <cusip>04052FCT0</cusip>
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          <isin value="US04052FCT03"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Public Finance Authority</name>
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        <title>Public Finance Authority, Astro Texas Land Projects</title>
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          <isin value="US74442PL869"/>
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        <curCd>USD</curCd>
        <valUSD>1958419.47000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>California County Tobacco Securitization Agency, Series 2006A</title>
        <cusip>13016NCT9</cusip>
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          <isin value="US13016NCT90"/>
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        <balance>3000000.00000000</balance>
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        <valUSD>703180.20000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Energy Northwest</name>
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          <maturityDt>2035-07-01</maturityDt>
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        <name>Public Finance Authority</name>
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        <title>Public Finance Authority, Presbyterian Villages of Michigan Obligated Group, Series 2020A</title>
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          <isin value="US74442PQJ74"/>
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          <maturityDt>2053-11-15</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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        <name>Salt River Project Agricultural Improvement &amp; Power District</name>
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          <isin value="US79574CFL28"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-01-01</maturityDt>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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          <isin value="US118217CL02"/>
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          <maturityDt>2030-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Howard MD</name>
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          <isin value="US44256P3X94"/>
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          <maturityDt>2042-08-15</maturityDt>
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        <name>North Carolina Housing Finance Agency</name>
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        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority, Clean Energy Project, Series 2023B-1</title>
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          <isin value="US13013JCB08"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Chester County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Chester County Industrial Development Authority, Longwood Gardens Project, Series 2021</title>
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          <isin value="US165588FH23"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="USU5COM"/>
          <other otherDesc="Future Ticker" value="USU5 Comdty"/>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>City of Houston TX Airport System Revenue</name>
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        <name>Collin County Community College District</name>
        <lei>N/A</lei>
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          <isin value="US194742GB21"/>
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        <name>State of Louisiana Gasoline &amp; Fuels Tax Revenue</name>
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        <name>Intermountain Power Agency</name>
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          <isin value="US45884AE907"/>
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        <name>Pennsylvania Housing Finance Agency</name>
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        <name>St Vrain Lakes Metropolitan District No. 4</name>
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        <name>Public Finance Authority</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Middleton Community Development District A</name>
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        <name>Dublin City School District</name>
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        <name>New York State Dormitory Authority</name>
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        <name>Virginia Public Building Authority</name>
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        <name>Tobacco Settlement Financing Corp.</name>
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        <name>Colorado Health Facilities Authority</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <debtSec>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Geisinger Authority</name>
        <lei>N/A</lei>
        <title>Geisinger Authority, Health System, Series 2020A</title>
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          <isin value="US368497JU89"/>
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        <curCd>USD</curCd>
        <valUSD>2468907.50000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-04-01</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 Motor Vehicle Fuel Tax, Series 2025C</title>
        <cusip>93974E5W2</cusip>
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          <isin value="US93974E5W20"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2195919.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health and Educational Facilities Authority, Aspirus, Inc., Obligated Group</title>
        <cusip>97712JMU4</cusip>
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          <isin value="US97712JMU42"/>
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        <curCd>USD</curCd>
        <valUSD>860865.20000000</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>2055-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health and Educational Facilities Authority, Aspirus, Inc., Obligated Group</title>
        <cusip>97712JMS9</cusip>
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          <isin value="US97712JMS95"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1018057.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Miami-Dade FL</name>
        <lei>549300QG0NBD9HULR263</lei>
        <title>County of Miami-Dade, Jackson Health System</title>
        <cusip>59333TGC8</cusip>
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          <isin value="US59333TGC80"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2117448.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
        <title>San Diego County Regional Airport Authority, Series 2023B</title>
        <cusip>79739GRL2</cusip>
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          <isin value="US79739GRL22"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2466035.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority, Centerpointjoliet Terminal, Series 2020</title>
        <cusip>45203PAB0</cusip>
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          <isin value="US45203PAB04"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>964227.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Austin TX Electric Utility Revenue</name>
        <lei>N/A</lei>
        <title>City of Garland Electric Utility System</title>
        <cusip>052414WB1</cusip>
        <identifiers>
          <isin value="US052414WB10"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1275153.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oklahoma Development Finance Authority</name>
        <lei>549300PXGPHUWC32DJ91</lei>
        <title>Oklahoma Development Finance Authority Health System, OU Medicine Project, Series 2018B</title>
        <cusip>67884XCK1</cusip>
        <identifiers>
          <isin value="US67884XCK19"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1968465.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City &amp; County of Denver CO Airport System Revenue</name>
        <lei>N/A</lei>
        <title>City and County of Denver, Airport System, Series 2022A</title>
        <cusip>249182QU3</cusip>
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          <isin value="US249182QU33"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1568547.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp., Delta Air Lines, Inc., LaGuardia Airport Terminals C&amp;D Redevelopment Project</title>
        <cusip>650116CN4</cusip>
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          <isin value="US650116CN46"/>
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        <balance>1125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1131570.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority, Winston Salem Sustainable Energy Partners, Series 2025A</title>
        <cusip>63607YCQ1</cusip>
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          <isin value="US63607YCQ17"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1077618.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Jersey Turnpike Authority</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>New Jersey Turnpike Authority, Series 2017G</title>
        <cusip>646140CT8</cusip>
        <identifiers>
          <isin value="US646140CT89"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>908326.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mission Economic Development Corp.</name>
        <lei>N/A</lei>
        <title>Mission Economic Development Corp., Waste Management, Inc. Project, Series 2020B</title>
        <cusip>605155BS8</cusip>
        <identifiers>
          <isin value="US605155BS89"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1499956.35000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.74999905</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York City Transitional Finance Authority</name>
        <lei>5493003476LG35QAKM08</lei>
        <title>New York City Transitional Finance Authority, Future Tax Secured, Subordinate, Fiscal Year 2025, Series 2025H, Sub H-1</title>
        <cusip>64972JTF5</cusip>
        <identifiers>
          <isin value="US64972JTF56"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1569427.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vancouver Housing Authority</name>
        <lei>N/A</lei>
        <title>Vancouver Housing Authority, Series 2025</title>
        <cusip>921626PU5</cusip>
        <identifiers>
          <isin value="US921626PU57"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1906114.60000000</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>2038-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Green Dot Public School Projects, Series 2018A</title>
        <cusip>13059TFC8</cusip>
        <identifiers>
          <isin value="US13059TFC80"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>150146.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>Massachusetts Development Finance Agency, Amherst College Issue, Series 2025A</title>
        <cusip>57585BKD9</cusip>
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      <invstOrSec>
        <name>Deutsche Intermediate Tax-Free Fund</name>
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          <isin value="US44244CS240"/>
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      <invstOrSec>
        <name>Kentucky State Property &amp; Building Commission</name>
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        <name>Oklahoma Housing Finance Agency</name>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Sedol" value="TYU5COM"/>
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      <invstOrSec>
        <name>City of Chicago IL Waterworks Revenue</name>
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      <invstOrSec>
        <name>Ohio Water Development Authority Water Pollution Control Loan Fund</name>
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          <isin value="US67766WQ212"/>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Illinois</name>
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          <isin value="US452153DN65"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Maine Municipal Bond Bank</name>
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        <name>Iowa Tobacco Settlement Authority</name>
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        <name>Westchester Tobacco Asset Securitization Corp.</name>
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        <name>Denver Health &amp; Hospital Authority</name>
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        <name>New York Transportation Development Corp.</name>
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        <name>Delaware State Economic Development Authority</name>
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        <name>Columbus Regional Airport Authority</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2034-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Industrial Development Authority of the City of Phoenix Arizona (The)</name>
        <lei>549300A62PWFBDWB8332</lei>
        <title>Industrial Development Authority of The City of Phoenix, Downtown Phoenix Student Housing LLC - Arizona State University Project, Series 2018A</title>
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          <isin value="US71885DDC39"/>
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        <invCountry>US</invCountry>
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        <debtSec>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of New York NY</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>City of New York, Fiscal Year 2025, Series 2025F</title>
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        <name>Oregon State Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Health &amp; Educational Facilities Authority of the State of Missouri</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Mount San Antonio Community College District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="WNU5COS"/>
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      <invstOrSec>
        <name>Alaska Industrial Development &amp; Export Authority</name>
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          <isin value="US011903GL95"/>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Roswell Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US77853AAA16"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-04-01</maturityDt>
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        <name>City of Lake Havasu City AZ Wastewater System Revenue</name>
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          <couponKind>Fixed</couponKind>
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        <name>Public Finance Authority</name>
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        <name>Illinois Finance Authority</name>
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        <name>Capital Projects Finance Authority/FL</name>
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        <name>City of Mesa AZ Utility System Revenue</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
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        <cusip>64613CGJ1</cusip>
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        <name>Missouri Housing Development Commission</name>
        <lei>5493007FBL7WCV3NKY25</lei>
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        <name>County of Harnett NC</name>
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        <name>State of Illinois</name>
        <lei>54930048FV8RWPR02D67</lei>
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          <isin value="US452153FL81"/>
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          <maturityDt>2047-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Delaware State Economic Development Authority</name>
        <lei>N/A</lei>
        <title>Delaware State Economic Development Authority, Acts Retirement-Life Communities, Inc., Obligated Group, Series 2018B</title>
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        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
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          <maturityDt>2055-07-01</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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        <name>New York Transportation Development Corp.</name>
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        <name>Indiana Finance Authority</name>
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        <name>Mississippi Business Finance Corp.</name>
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        <name>Central Texas Turnpike System</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>California Statewide Communities Development Authority</name>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <name>Illinois Housing Development Authority</name>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>Triborough Bridge &amp; Tunnel Authority Sales Tax Revenue</name>
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        <name>County of Harris TX</name>
        <lei>549300G9BRP25M0W1S40</lei>
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        <name>City of Rockport IN</name>
        <lei>N/A</lei>
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        <name>Onondaga Civic Development Corp.</name>
        <lei>N/A</lei>
        <title>Onondaga Civic Development Corp., Syracuse University Project</title>
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        <name>Commonwealth of Massachusetts</name>
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        <name>N/A</name>
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        <name>Melissa Independent School District</name>
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        <name>Southern Ute Indian Tribe of the Southern Ute Reservation of Colorado</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
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          <isin value="US64971XFU72"/>
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        <name>Pennsylvania Higher Educational Facilities Authority</name>
        <lei>N/A</lei>
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          <isin value="US70917TRY90"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
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          <isin value="US74442PF598"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Series 2025A</title>
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        <name>Colorado Health Facilities Authority</name>
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        <name>Virginia Small Business Financing Authority</name>
        <lei>N/A</lei>
        <title>Virginia Small Business Financing Authority, Senior Lien, Transform 66 P3 Project</title>
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          <isin value="US928097AD68"/>
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        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority, Tamarron Project, Series 2024</title>
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        <name>Tobacco Settlement Financing Corp.</name>
        <lei>N/A</lei>
        <title>Tobacco Settlement Financing Corp., Series B</title>
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          <maturityDt>2050-06-01</maturityDt>
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        <name>Washington Health Care Facilities Authority</name>
        <lei>549300ZVPWQIL3N5TL85</lei>
        <title>Washington Health Care Facilities Authority, Seattle Cancer Care Alliance</title>
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          <maturityDt>2048-12-01</maturityDt>
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        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project, Series 2025A</title>
        <cusip>546399UN4</cusip>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <name>Shelby County Health Educational &amp; Housing Facilities Board</name>
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        <valUSD>1654306.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Texas Municipal Gas Acquisition &amp; Supply Corp. V</name>
        <lei>254900XZ4J30QIJO9G03</lei>
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        <cusip>88256RAK2</cusip>
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          <isin value="US88256RAK23"/>
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        <curCd>USD</curCd>
        <valUSD>3157828.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority, Series 2020A</title>
        <cusip>64990GYC0</cusip>
        <identifiers>
          <isin value="US64990GYC04"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2084845.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago O'Hare International Airport</name>
        <lei>N/A</lei>
        <title>Chicago O'Hare International Airport, General Airport, Senior Lien, Series 2018B</title>
        <cusip>167593M66</cusip>
        <identifiers>
          <isin value="US167593M666"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2972749.80000000</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>2053-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Central Plains Energy Project</name>
        <lei>SVQOT7V5CPLIGNP5BE29</lei>
        <title>Central Plains Energy Project, Gas Project No. 3, Series 2017A</title>
        <cusip>154871CP0</cusip>
        <identifiers>
          <isin value="US154871CP00"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>767944.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Tobacco Settlement Financing Corp.</name>
        <lei>N/A</lei>
        <title>Tobacco Settlement Financing Corp., Series 2018A</title>
        <cusip>888808HQ8</cusip>
        <identifiers>
          <isin value="US888808HQ88"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2465214.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Housing Finance Agency</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
        <title>North Carolina Housing Finance Agency, Homeownership-1998 Trust, Series 58-A</title>
        <cusip>65820BCH7</cusip>
        <identifiers>
          <isin value="US65820BCH78"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1123430.10000000</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>2056-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Commonwealth of Pennsylvania</name>
        <lei>N/A</lei>
        <title>Commonwealth of Pennsylvania, Series 2024-1</title>
        <cusip>70914P4H2</cusip>
        <identifiers>
          <isin value="US70914P4H29"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4732061.00000000</valUSD>
        <pctVal>0.630238949653</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Southeast Energy Authority A Cooperative District</name>
        <lei>25490090A3RLJHITY273</lei>
        <title>Southeast Energy Authority A Cooperative District Project No.06, Series 2023B</title>
        <cusip>84136GAK1</cusip>
        <identifiers>
          <isin value="US84136GAK13"/>
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        <balance>5530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5762687.47000000</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>2054-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wyoming Community Development Authority</name>
        <lei>549300UQ62NB8FGTHW65</lei>
        <title>Wyoming Community Development Authority, Series 2024-1</title>
        <cusip>98322QM46</cusip>
        <identifiers>
          <isin value="US98322QM465"/>
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        <balance>985000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1060710.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Columbus Regional Airport Authority</name>
        <lei>N/A</lei>
        <title>Columbus Regional Airport Authority, John Glenn Columbus International Airport, Series 2025B</title>
        <cusip>199546DW9</cusip>
        <identifiers>
          <isin value="US199546DW91"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1036474.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northeast Ohio Medical University</name>
        <lei>N/A</lei>
        <title>Northeast Ohio Medical University, Series 2021A</title>
        <cusip>66433RBD9</cusip>
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          <isin value="US66433RBD98"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>191850.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Texas Private Activity Bond Surface Transportation Corp.</name>
        <lei>N/A</lei>
        <title>Texas Private Activity Bond Surface Transportation Corp., NTE Mobility Partners Segments 3 LLC Project</title>
        <cusip>882667AN8</cusip>
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          <isin value="US882667AN81"/>
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        <curCd>USD</curCd>
        <valUSD>951381.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Central Plains Energy Project</name>
        <lei>SVQOT7V5CPLIGNP5BE29</lei>
        <title>Central Plains Energy Project, Gas Project No. 5, Series 2022-1</title>
        <cusip>154871CU9</cusip>
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          <isin value="US154871CU94"/>
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        <balance>7625000.00000000</balance>
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        <valUSD>7863450.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>State of Washington, Various Purpose, Series 2024A</title>
        <cusip>93974EH82</cusip>
        <identifiers>
          <isin value="US93974EH829"/>
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        <balance>2240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2323005.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York City Transitional Finance Authority</name>
        <lei>5493003476LG35QAKM08</lei>
        <title>New York City Transitional Finance Authority, Future Tax Secured, Fiscal Year 2025, Series 2025D</title>
        <cusip>64972JNS3</cusip>
        <identifiers>
          <isin value="US64972JNS32"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2054-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Verve Metropolitan District No. 1</name>
        <lei>N/A</lei>
        <title>Verve Metropolitan District No. 1</title>
        <cusip>92538YAF0</cusip>
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          <isin value="US92538YAF07"/>
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        <balance>1500000.00000000</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>2052-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Twin Lakes Community, Series 2025A</title>
        <cusip>65820YTT3</cusip>
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          <isin value="US65820YTT37"/>
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        <balance>250000.00000000</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>
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          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Chicago IL Waterworks Revenue</name>
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          <isin value="US167736U961"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Indiana Housing &amp; Community Development Authority</name>
        <lei>549300QRKDYVNHT1OE86</lei>
        <title>Indiana Housing and Community Development Authority, Single Family Mortgage, Series 2017C-3</title>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.00000070</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Lincoln Preparatory School Project, Series 2021A</title>
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          <isin value="US546399KY17"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-06-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Michigan Finance Authority</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>Michigan Finance Authority, Henry Ford Health System, Series 2019A</title>
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          <isin value="US59447TUJ05"/>
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        <valUSD>4092370.10000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Desert Sands Unified School District</name>
        <lei>N/A</lei>
        <title>Desert Sands Unified School District, Election of 2024</title>
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          <isin value="US250433WR68"/>
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        <balance>2000000.00000000</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>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority, Senior Lien</title>
        <cusip>74442PF67</cusip>
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          <isin value="US74442PF671"/>
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        <curCd>USD</curCd>
        <valUSD>2054337.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Fort Bend TX Toll Road Revenue</name>
        <lei>N/A</lei>
        <title>County of Fort Bend Toll Road, Senior Lien</title>
        <cusip>346817FT1</cusip>
        <identifiers>
          <isin value="US346817FT10"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of San Antonio TX Electric &amp; Gas Systems Revenue</name>
        <lei>5493002G2FEH20Q4GQ04</lei>
        <title>City of San Antonio Electric and Gas Systems, Series 2024B</title>
        <cusip>79625GKN2</cusip>
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          <isin value="US79625GKN24"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1040668.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Indianapolis Local Public Improvement Bond Bank</name>
        <lei>549300LX8ESJHDSESB87</lei>
        <title>Indianapolis Local Public Improvement Bond Bank, Indianapolis Public Transportation Corp. Project, Series 2025A</title>
        <cusip>45527CDR0</cusip>
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          <isin value="US45527CDR07"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>552437.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>University of Wyoming</name>
        <lei>N/A</lei>
        <title>University of Wyoming, Series 2021C</title>
        <cusip>915268G91</cusip>
        <identifiers>
          <isin value="US915268G910"/>
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        <balance>600000.00000000</balance>
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        <valUSD>563673.42000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <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>
        <cusip>74529JQH1</cusip>
        <identifiers>
          <isin value="US74529JQH13"/>
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        <balance>5985000.00000000</balance>
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        <valUSD>1404172.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>State of Connecticut Special Tax Revenue</name>
        <lei>N/A</lei>
        <title>State of Connecticut Special Tax, Transportation Infrastructe Purpose, Series 2024A-1</title>
        <cusip>207758S38</cusip>
        <identifiers>
          <isin value="US207758S383"/>
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        <balance>1500000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Wisconsin Housing &amp; Economic Development Authority Home Ownership Revenue</name>
        <lei>N/A</lei>
        <title>Wisconsin Housing and Economic Development Authority Home Ownership, Series 2024A</title>
        <cusip>97689QTU0</cusip>
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          <isin value="US97689QTU03"/>
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          <maturityDt>2054-09-01</maturityDt>
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        <name>Michigan Strategic Fund</name>
        <lei>N/A</lei>
        <title>Michigan Strategic Fund, Graphic Packaging International, LLC Coated Recycled Board Machine Project</title>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>California Public Finance Authority, Senior Living The James, Series 2024A</title>
        <cusip>13057GAP4</cusip>
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          <isin value="US13057GAP46"/>
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          <annualizedRt>6.50000000</annualizedRt>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
        <lei>N/A</lei>
        <title>Buckeye Tobacco Settlement Financing Authority, Series 2020B-2, Class 2</title>
        <cusip>118217CZ9</cusip>
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          <isin value="US118217CZ97"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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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>592647MH1</cusip>
        <identifiers>
          <isin value="US592647MH10"/>
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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>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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        <name>Wisconsin Department of Transportation</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>District of Columbia</name>
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          <isin value="US25483VWB60"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Pennsylvania Housing Finance Agency</name>
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          <isin value="US70879QC509"/>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
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        <cusip>13013JDG8</cusip>
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          <isin value="US13013JDG85"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp., John F. Kennedy International Airport New Terminal One Project</title>
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          <isin value="US650116EZ57"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Permanent University Fund - Texas A&amp;M University System</name>
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        <cusip>8821172F0</cusip>
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          <isin value="US8821172F04"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US13048RAJ68"/>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.74999905</annualizedRt>
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      <invstOrSec>
        <name>Washington Health Care Facilities Authority</name>
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        <title>Washington Health Care Facilities Authority, Seattle Cancer Care Alliance</title>
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        <valUSD>799539.51000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
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        <title>Illinois Finance Authority, Northwestern Memorial Healthcare, Series 2021B</title>
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          <isin value="US45204FME24"/>
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        <balance>500000.00000000</balance>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.00000070</annualizedRt>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Green Dot Public School Projects, Series 2018A</title>
        <cusip>13059TFE4</cusip>
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          <isin value="US13059TFE47"/>
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        <balance>150000.00000000</balance>
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        <valUSD>153969.12000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</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-2</title>
        <cusip>74529JRL1</cusip>
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          <isin value="US74529JRL16"/>
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        <balance>2750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2461163.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.78400000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts Bay Transportation Authority Sales Tax Revenue</name>
        <lei>N/A</lei>
        <title>Massachusetts Bay Transportation Authority Sales Tax, Series 2020B-1</title>
        <cusip>575579J57</cusip>
        <identifiers>
          <isin value="US575579J576"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1001069.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts Port Authority</name>
        <lei>254900JRR8IDSSKWCL90</lei>
        <title>Massachusetts Port Authority, Bosfuel Project, Series 2019A</title>
        <cusip>575898DS7</cusip>
        <identifiers>
          <isin value="US575898DS76"/>
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        <balance>4675000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4568549.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bergen County Improvement Authority (The)</name>
        <lei>549300GA3U8F8Z1HOS09</lei>
        <title>Bergen County Improvement Authority (The), Guaranteed Government Pooled Project</title>
        <cusip>083773EC1</cusip>
        <identifiers>
          <isin value="US083773EC11"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2019470.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mobile County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Mobile County Industrial Development Authority, Calvert LLC Project, Series 2024B</title>
        <cusip>60733UAB7</cusip>
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          <isin value="US60733UAB70"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Montgomery Independent School District</name>
        <lei>N/A</lei>
        <title>Montgomery Independent School District, Unlimited Tax, Series 2024A</title>
        <cusip>614121ZL8</cusip>
        <identifiers>
          <isin value="US614121ZL81"/>
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        <balance>1040000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>North Dakota Housing Finance Agency</name>
        <lei>549300DVQAGW0B16JX70</lei>
        <title>North Dakota Housing Finance Agency, Home Mortgage Finance Program, Series 2024C</title>
        <cusip>6589098F6</cusip>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>New York Liberty Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Liberty Development Corp., Secured by Port Authority, Series 1WTC-2021</title>
        <cusip>649519ER2</cusip>
        <identifiers>
          <isin value="US649519ER29"/>
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        <balance>1900000.00000000</balance>
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        <name>Downtown Development Authority of The City of Dalton</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Triborough Bridge &amp; Tunnel Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Houston TX Airport System Revenue</name>
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        <name>Pennsylvania Turnpike Commission Oil Franchise Tax Revenue</name>
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        <name>Indianapolis Local Public Improvement Bond Bank</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-15</maturityDt>
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        <name>Colorado Springs School District No. 11 Facilities Corp.</name>
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        <name>Central Plains Energy Project</name>
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        <name>Main Street Natural Gas, Inc.</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <invCountry>PR</invCountry>
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        <name>Johnson City Independent School District</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Halifax County Industrial Development Authority</name>
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        <name>New Jersey Economic Development Authority</name>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
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        <name>Pennsylvania Economic Development Financing Authority Parking System Revenue</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Long Island Power Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Build NYC Resource Corp.</name>
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        <name>Public Finance Authority</name>
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        <name>JPMorgan Institutional Tax Free Money Market Fund</name>
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        <name>Boise State University</name>
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        <name>Sherburne Earlville Central School District</name>
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        <name>Louisiana Public Facilities Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <invCountry>PR</invCountry>
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        <name>Wisconsin Department of Transportation</name>
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        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>California School Finance Authority, Green Dot Public School Projects, Series 2018A</title>
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        <name>Mida Mountain Village Public Infrastructure District</name>
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        <name>Fircrest Properties</name>
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        <name>Maryland State Transportation Authority</name>
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        <name>New York City Transitional Finance Authority</name>
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        <name>Mississippi Development Bank</name>
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        <name>Development Authority of Burke County (The)</name>
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        <name>City of Portland OR Sewer System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Tennessee Housing Development Agency</name>
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          <maturityDt>2056-01-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <name>Grand Parkway Transportation Corp.</name>
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          <isin value="US38611TBQ94"/>
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          <maturityDt>2043-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Columbus Regional Airport Authority</name>
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          <isin value="US199546CS98"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp., JFK International Airport New Terminal One Project, Series 2023</title>
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          <isin value="US650116GX81"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Montgomery County Industrial Development Authority/PA</name>
        <lei>N/A</lei>
        <title>Montgomery County Industrial Development Authority, Waverly Heights Ltd., Project</title>
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          <isin value="US613609K540"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Illinois Housing Development Authority</name>
        <lei>54930053Z6M9JVHBQZ16</lei>
        <title>Illinois Housing Development Authority, Series 2025A</title>
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        <name>Public Finance Authority</name>
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        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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        <name>Finance Authority of Maine</name>
        <lei>N/A</lei>
        <title>Finance Authority of Maine, Casella Waste System, Inc. Project</title>
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          <isin value="US56042CAT27"/>
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        <name>Wisconsin Housing &amp; Economic Development Authority Home Ownership Revenue</name>
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        <title>Wisconsin Housing and Economic Development Authority, Home Ownership, Series B</title>
        <cusip>97689QHL3</cusip>
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          <isin value="US97689QHL32"/>
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          <maturityDt>2048-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Northern Tobacco Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Northern Tobacco Securitization Corp., Tobacco Settlement Asset-Backed Senior Capital Appreciation, Series 2021B-2, Class 2</title>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp., Delta Air Lines, Inc., LaGuardia Airport Terminals C&amp;D Redevelopment Project</title>
        <cusip>650116DA1</cusip>
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          <isin value="US650116DA16"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
        <title>San Diego County Regional Airport Authority, Series 2023B</title>
        <cusip>79739GRK4</cusip>
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          <isin value="US79739GRK49"/>
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        <balance>5540000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>City of New York NY</name>
        <lei>549300ABYZD2SFD5JB29</lei>
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          <isin value="US64966QKD15"/>
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        <balance>530000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Leander Independent School District</name>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
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          <isin value="US79467BCJ26"/>
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        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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        <name>State of Louisiana Gasoline &amp; Fuels Tax Revenue</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
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        <name>Encinitas Union School District</name>
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        <name>College Park Housing Authority</name>
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        <name>Port of Greater Cincinnati Development Authority</name>
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        <name>Hillsborough County Industrial Development Authority</name>
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        <name>Metropolitan Nashville Airport Authority (The)</name>
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        <name>Crowley Independent School District</name>
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        <name>Carroll City-County Hospital Authority</name>
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        <name>Commonwealth of Massachusetts</name>
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        <name>Northern Tobacco Securitization Corp.</name>
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        <name>Arizona Industrial Development Authority</name>
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        <title>Arizona Industrial Development Authority, Great Lakes Senior Living Communities LLC Project, Series 2025A-2</title>
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        <name>City &amp; County of Denver CO Airport System Revenue</name>
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        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority, Mentorship Steam Academy Project, Series 2021A</title>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Sales Tax Securitization Corp.</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>
