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        <name>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Arizona Board of Regents</name>
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          <isin value="US040664PX64"/>
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      <invstOrSec>
        <name>Atlanta Urban Residential Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US04785VBX10"/>
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          <maturityDt>2029-02-01</maturityDt>
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        <name>City of Austin TX</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Austin Community College District</name>
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          <isin value="US052403KQ44"/>
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          <maturityDt>2037-08-01</maturityDt>
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        <name>Baldwin County Industrial Development Authority</name>
        <lei>N/A</lei>
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          <isin value="US05786PAA12"/>
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        <name>Bergen County Improvement Authority (The)</name>
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        <name>Black Belt Energy Gas District</name>
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        <name>Village of Bolingbrook IL</name>
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        <name>Brookhaven Development Authority</name>
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        <name>City of Buckeye AZ</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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      <invstOrSec>
        <name>Chicago O'Hare International Airport</name>
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          <isin value="US1675934L36"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chicago O'Hare International Airport</name>
        <lei>N/A</lei>
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          <isin value="US167593M666"/>
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        <valUSD>3034974.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chicago Transit Authority Sales Tax Receipts Fund</name>
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          <isin value="US16772PEP71"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Chicago IL Waterworks Revenue</name>
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        <cusip>167736SJ7</cusip>
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          <isin value="US167736SJ72"/>
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        <balance>1445000.00000000</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>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>City of Chicago IL Waterworks Revenue</name>
        <lei>N/A</lei>
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        <cusip>167736U96</cusip>
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          <isin value="US167736U961"/>
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        <balance>635000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Children's Trust Fund</name>
        <lei>N/A</lei>
        <title>Children's Trust Fund, Tobacco Settlement Asset-Backed, Series 2005A</title>
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          <isin value="US16876QBJ76"/>
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        <balance>6300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1324021.23000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cobb-Marietta Coliseum &amp; Exhibit Hall Authority</name>
        <lei>N/A</lei>
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          <isin value="US190760JP43"/>
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        <valUSD>1100310.40000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>College Park Housing Authority</name>
        <lei>N/A</lei>
        <title>College Park Housing Authority</title>
        <cusip>194307AA2</cusip>
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          <isin value="US194307AA25"/>
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        <valUSD>2025382.80000000</valUSD>
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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>2044-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.45000000</annualizedRt>
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        <name>Collin County Community College District</name>
        <lei>N/A</lei>
        <title>Collin County Community College District</title>
        <cusip>194742GB2</cusip>
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          <isin value="US194742GB21"/>
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        <valUSD>2051894.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Colorado Educational &amp; Cultural Facilities Authority</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>Colorado Health Facilities Authority</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
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        <name>Columbus County Industrial Facilities &amp; Pollution Control Financing Authority</name>
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        <title>Columbus County Industrial Facilities and Pollution Control Financing Authority, International Paper Co. Recover Project, Series 2020A</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Commonwealth Financing Authority</name>
        <lei>N/A</lei>
        <title>Commonwealth Financing Authority, Tobacco Master Settlement Payment</title>
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          <isin value="US20282EAK29"/>
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        <name>State of Nevada Department of Business &amp; Industry</name>
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        <name>Downtown Revitalization Public Infrastructure District</name>
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      <invstOrSec>
        <name>Dutchess County Local Development Corp.</name>
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          <isin value="US267045PE66"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FHLMC Multifamily VRD Certificates</name>
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        <title>FHLMC Multifamily VRD Certificates, Series ML-3</title>
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          <isin value="US31350AEA25"/>
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        <name>Florida Development Finance Corp.</name>
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        <name>Florida Gulf Coast University Financing Corp.</name>
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        <name>County of Fort Bend TX Toll Road Revenue</name>
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        <name>Fort Collins-Loveland Water District</name>
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        <name>City of Gainesville GA Water &amp; Sewerage Revenue</name>
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        <name>Intermountain Power Agency</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Institutional Tax Free Money Market Fund</name>
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          <isin value="US4812A26030"/>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jackson State University Educational Building Corp.</name>
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        <title>Jackson State University Educational Building Corp., Series 2021A</title>
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          <isin value="US468714FG03"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-01</maturityDt>
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          <annualizedRt>1.40000000</annualizedRt>
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      <invstOrSec>
        <name>Jefferson County Port Authority</name>
        <lei>N/A</lei>
        <title>Jefferson County Port Authority, JSW Steel USA Ohio, Inc., Project, Series 2023</title>
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        <name>Johnson City Independent School District</name>
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        <name>Kansas City Industrial Development Authority</name>
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        <name>Kentucky State Property &amp; Building Commission</name>
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        <name>Kentucky State Property &amp; Building Commission</name>
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        <name>Kentucky State Property &amp; Building Commission</name>
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        <name>Knox County Health Educational &amp; Housing Facility Board</name>
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        <name>City of Lake Havasu City AZ Wastewater System Revenue</name>
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        <name>Long Island Power Authority</name>
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      <invstOrSec>
        <name>Maine Municipal Bond Bank</name>
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        <name>Massachusetts Bay Transportation Authority Sales Tax Revenue</name>
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        <name>Commonwealth of Massachusetts</name>
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        <lei>5493001N1YCXNI1O7K10</lei>
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        <lei>549300UZSVMFXJK08K70</lei>
        <title>Massachusetts Development Finance Agency, PRG Medford Properties, Inc. Issue Tufts University Student Housing Program</title>
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        <name>Massachusetts Port Authority</name>
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        <name>Medical University Hospital Authority</name>
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        <title>Medical University Hospital Authority, An Agency of The State of south Carolina FHA Insured Hospital Mortgage, Indian Land Project</title>
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        <name>Melissa Independent School District</name>
        <lei>N/A</lei>
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        <name>City of Mesa AZ Utility System Revenue</name>
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        <title>City of Mesa Utility System</title>
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        <name>Metropolitan Government Nashville and Davidson County, Health and Educational Facilities Board</name>
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        <name>Metropolitan Government Nashville &amp; Davidson County Health &amp; Educational Facs Bd</name>
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        <name>Metropolitan Pier &amp; Exposition Authority</name>
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        <name>Metropolitan St. Louis Sewer District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Metropolitan Transportation Authority</name>
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        <name>Metropolitan Transportation Authority</name>
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        <name>Metropolitan Transportation Authority</name>
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        <name>Metropolitan Washington Airports Authority Aviation Revenue</name>
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        <name>County of Miami-Dade FL</name>
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        <name>County of Miami-Dade FL Water &amp; Sewer System Revenue</name>
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        <name>Michigan Finance Authority</name>
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        <name>Michigan Strategic Fund</name>
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        <name>Michigan State University</name>
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        <name>Mida Mountain Village Public Infrastructure District</name>
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        <name>Middleton Community Development District A</name>
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        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp., JFK International Airport New Terminal One Project</title>
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          <isin value="US650116JM99"/>
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        <curCd>USD</curCd>
        <valUSD>1047249.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>North Carolina Housing Finance Agency</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
        <title>North Carolina Housing Finance Agency, Homeownership-1998 Trust, Series 53-A</title>
        <cusip>6582076L4</cusip>
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          <isin value="US6582076L45"/>
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        <valUSD>1284199.61000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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 57-A</title>
        <cusip>65820BBF2</cusip>
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          <isin value="US65820BBF22"/>
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        <valUSD>2284465.28000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-01</maturityDt>
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          <annualizedRt>6.25000000</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>
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          <isin value="US65820BCH78"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1167717.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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>
        <valUSD>253159.78000000</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>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Housing Finance Agency</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
        <title>North Carolina Housing Finance Agency, Homeownership-1998 Trust, Series 59-A</title>
        <cusip>65821FLA2</cusip>
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          <isin value="US65821FLA20"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1165114.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of North Carolina</name>
        <lei>N/A</lei>
        <title>State of North Carolina, Series 2025A</title>
        <cusip>65829QFY5</cusip>
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          <isin value="US65829QFY52"/>
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        <balance>1500000.00000000</balance>
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        <valUSD>1745063.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Turnpike Authority</name>
        <lei>549300FCT1PN0GJGQ240</lei>
        <title>North Carolina Turnpike Authority, Triangle Expressway System, Senior Lien</title>
        <cusip>65830RCQ0</cusip>
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          <isin value="US65830RCQ02"/>
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        <balance>2310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2352426.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <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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          <isin value="US6589098F67"/>
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        <balance>1375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1511186.33000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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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>215473.63000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northern Tobacco Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Northern Tobacco Securitization Corp., Senior Lien, Series 2021A, Class 1</title>
        <cusip>66585VBK0</cusip>
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          <isin value="US66585VBK08"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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>
        <cusip>66585VCB9</cusip>
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          <isin value="US66585VCB99"/>
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        <debtSec>
          <maturityDt>2066-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ohio Air Quality Development Authority</name>
        <lei>549300DZUU80AYOR6M80</lei>
        <title>Ohio Air Quality Development Authority, Ohio Valley Electric Corp. Project, Series 2026B</title>
        <cusip>677525XD4</cusip>
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        <balance>2000000.00000000</balance>
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          <maturityDt>2040-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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        <name>Ohio Water Development Authority</name>
        <lei>549300QMBH1DMY67FZ74</lei>
        <title>Ohio Water Development Authority, Drinking Water Assistance, Series 2025A</title>
        <cusip>67765QSW7</cusip>
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          <maturityDt>2041-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Ohio Water Development Authority Water Pollution Control Loan Fund</name>
        <lei>N/A</lei>
        <title>Ohio Water Development Authority Water Pollution Control Loan Fund, Series 2024C</title>
        <cusip>67766WQ21</cusip>
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          <isin value="US67766WQ212"/>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.90000020</annualizedRt>
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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>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Oklahoma Housing Finance Agency</name>
        <lei>N/A</lei>
        <title>Oklahoma Housing Finance Agency, Home Ownership Loan Program, Series 2025A</title>
        <cusip>67886MW88</cusip>
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          <isin value="US67886MW886"/>
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        <balance>990000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2056-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <name>Oklahoma Water Resources Board</name>
        <lei>5493007CUNXW5UX11C71</lei>
        <title>Oklahoma Water Resources Board, Clean Water Program, Series 2025A</title>
        <cusip>67919PWY5</cusip>
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        <name>Palm Beach County Health Facilities Authority</name>
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        <name>Patriots Energy Group Financing Agency</name>
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        <name>Peace River Manasota Regional Water Supply Authority</name>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <name>Industrial Development Authority of the City of Phoenix Arizona (The)</name>
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        <name>Public Finance Authority</name>
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        <name>Commonwealth of Puerto Rico</name>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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          <isin value="US74529JPX71"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <isin value="US74529JQD09"/>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US74529JQH13"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <title>Puerto Rico Sales Tax Financing Corp. Sales Tax, Series A-2</title>
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          <isin value="US74529JRH04"/>
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        <invCountry>PR</invCountry>
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          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Raindance Metropolitan District No. 1 Non-Potable Water System Revenue</name>
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        <title>Raindance Metropolitan District No. 1, Non-Potable Water System</title>
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          <isin value="US75087GAB86"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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        <name>State of Rhode Island</name>
        <lei>N/A</lei>
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          <isin value="US762223QZ15"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Rhode Island Health and Educational Building Corp.</name>
        <lei>N/A</lei>
        <title>Rhode Island Health and Educational Building Corp., Brown university Health, Series 2026B</title>
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          <isin value="US762244PE57"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>City of Rockport IN</name>
        <lei>N/A</lei>
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          <isin value="US773835BY85"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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      <invstOrSec>
        <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>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.90000020</annualizedRt>
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        <name>Round Rock Independent School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Sales Tax Securitization Corp., Series 2018C</title>
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          <isin value="US79467BCJ26"/>
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        <name>City of San Antonio TX Electric &amp; Gas Systems Revenue</name>
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        <name>City of San Antonio TX Electric &amp; Gas Systems Revenue</name>
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        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
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          <isin value="US79739GRK49"/>
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        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
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          <isin value="US79739GRL22"/>
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        <name>County of Santa Fe NM</name>
        <lei>N/A</lei>
        <title>County of Santa Fe, Cresta Ranch Apartments, Series 2024</title>
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          <isin value="US80189NAD66"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Savannah Georgia Convention Center Authority</name>
        <lei>N/A</lei>
        <title>Savannah Georgia Convention Center Authority, Series 2025C</title>
        <cusip>804828AL5</cusip>
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          <isin value="US804828AL59"/>
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        <name>Savannah Georgia Convention Center Authority</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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          <maturityDt>2036-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Savannah Georgia Convention Center Authority</name>
        <lei>N/A</lei>
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          <isin value="US804828AN16"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Seminole County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Seminole County Industrial Development Authority, Legacy Pointe at UCF Project, Series 2019A</title>
        <cusip>81669TAD0</cusip>
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          <isin value="US81669TAD00"/>
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        <balance>1500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-15</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>Shelby County Health Educational &amp; Housing Facilities Board</name>
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          <isin value="US821691AC66"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Shelby County Health Educational &amp; Housing Facilities Board</name>
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        <title>Shelby County Health Educational and Housing Facilities Board, The Farms at Bailey Station Project, Series 2019A</title>
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          <isin value="US82170KAG22"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>South Dakota Health &amp; Educational Facilities Authority</name>
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          <maturityDt>2051-09-01</maturityDt>
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        <name>Southeast Energy Authority A Cooperative District</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Southern Ute Indian Tribe of the Southern Ute Reservation of Colorado</name>
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        <name>St Vrain Lakes Metropolitan District No. 4</name>
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        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
        <lei>549300ROY505NVTMMI25</lei>
        <title>Tarrant County Cultural Education Facilities Finance Corp., Cook Children's Medical Center</title>
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        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
        <lei>549300ROY505NVTMMI25</lei>
        <title>Tarrant County Cultural Education Facilities Finance Corp., Health Resources System, Series 2025C</title>
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        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
        <lei>549300ROY505NVTMMI25</lei>
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        <name>Tennergy Corp./TN</name>
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        <name>Tennessee Housing Development Agency</name>
        <lei>25490004PSQYQLFJGI76</lei>
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        <name>Texas Municipal Gas Acquisition &amp; Supply Corp. V</name>
        <lei>254900XZ4J30QIJO9G03</lei>
        <title>Texas Municipal Gas Acquisition and Supply Corp. V, Gas Supply, Series 2024</title>
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        <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>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1092303.30000000</valUSD>
        <pctVal>0.128215843465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Central Texas Turnpike System</name>
        <lei>N/A</lei>
        <title>Central Texas Turnpike System, Second Tier, Series 2024C</title>
        <cusip>88283KCF3</cusip>
        <identifiers>
          <isin value="US88283KCF30"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1678221.75000000</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>2040-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Texas Water Development Board</name>
        <lei>N/A</lei>
        <title>Texas Water Development Board, State Water Implementation Fund, Series 2024A</title>
        <cusip>88285AFZ6</cusip>
        <identifiers>
          <isin value="US88285AFZ66"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>973117.10000000</valUSD>
        <pctVal>0.114225627412</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iowa Tobacco Settlement Authority</name>
        <lei>N/A</lei>
        <title>Iowa Tobacco Settlement Authority, Subordinate Senior Capital Appreciation Asset Backed, Series 2021A-2, Class 1</title>
        <cusip>888805CF3</cusip>
        <identifiers>
          <isin value="US888805CF30"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>855600.70000000</valUSD>
        <pctVal>0.100431414443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iowa Tobacco Settlement Authority</name>
        <lei>N/A</lei>
        <title>Iowa Tobacco Settlement Authority, Subordinate Senior Capital Appreciation Asset Backed, Series 2021-B-2, Class 2</title>
        <cusip>888805CJ5</cusip>
        <identifiers>
          <isin value="US888805CJ51"/>
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        <balance>11805000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1745532.16000000</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>2065-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tobacco Settlement Financing Corp.</name>
        <lei>N/A</lei>
        <title>Tobacco Settlement Financing Corp., Series 2018A</title>
        <cusip>888808HM7</cusip>
        <identifiers>
          <isin value="US888808HM74"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2077629.00000000</valUSD>
        <pctVal>0.243874530676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tobacco Settlement Financing Corp.</name>
        <lei>N/A</lei>
        <title>Tobacco Settlement Financing Corp., Series 2018A</title>
        <cusip>888808HN5</cusip>
        <identifiers>
          <isin value="US888808HN57"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1004753.00000000</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>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>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>2503911.00000000</valUSD>
        <pctVal>0.293912012193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tobacco Settlement Financing Corp.</name>
        <lei>N/A</lei>
        <title>Tobacco Settlement Financing Corp., Series 2018B</title>
        <cusip>888808HT2</cusip>
        <identifiers>
          <isin value="US888808HT28"/>
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        <balance>3770000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3729766.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tobacco Settlement Financing Corp.</name>
        <lei>N/A</lei>
        <title>Tobacco Settlement Financing Corp., Series B</title>
        <cusip>888809BG4</cusip>
        <identifiers>
          <isin value="US888809BG44"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>999643.70000000</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>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Triborough Bridge &amp; Tunnel Authority</name>
        <lei>54930020ZN4LQF7K3456</lei>
        <title>Triborough Bridge and Tunnel Authority, Payroll Mobility Tax, Series 2021A-1</title>
        <cusip>89602HAA5</cusip>
        <identifiers>
          <isin value="US89602HAA59"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>975706.70000000</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>2046-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Triborough Bridge &amp; Tunnel Authority</name>
        <lei>54930020ZN4LQF7K3456</lei>
        <title>Triborough Bridge and Tunnel Authority, MTA Bridges and Tunnels, Series 2025A-1</title>
        <cusip>89602RMX0</cusip>
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          <isin value="US89602RMX07"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1769438.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Triborough Bridge &amp; Tunnel Authority</name>
        <lei>54930020ZN4LQF7K3456</lei>
        <title>Triborough Bridge and Tunnel Authority, MTA Bridges and Tunnels, TBTA Capital Lockbox, Series 2025A</title>
        <cusip>896032BB4</cusip>
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          <isin value="US896032BB41"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2132832.20000000</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>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Triborough Bridge &amp; Tunnel Authority Sales Tax Revenue</name>
        <lei>N/A</lei>
        <title>Triborough Bridge and Tunnel Authority, MTA Bridges and Tunnels, TBTA Capital Lockbox, Series 2023A</title>
        <cusip>896035CD2</cusip>
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          <isin value="US896035CD29"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>949338.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>University of North Carolina at Chapel Hill</name>
        <lei>N/A</lei>
        <title>University of North Carolina, Hospital at Chapel Hill, Series A</title>
        <cusip>91471FAW5</cusip>
        <identifiers>
          <isin value="US91471FAW59"/>
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        <balance>8000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8000000.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.90000020</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Permanent University Fund - University of Texas System</name>
        <lei>N/A</lei>
        <title>Permanent University Fund - University of Texas System, Series 2025A</title>
        <cusip>915130BZ0</cusip>
        <identifiers>
          <isin value="US915130BZ00"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1208250.60000000</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>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>University of Wisconsin Hospitals &amp; Clinics</name>
        <lei>549300O76DW14JGO7224</lei>
        <title>University of Wisconsin Hospitals and Clinics, Series 2018C</title>
        <cusip>915260CN1</cusip>
        <identifiers>
          <isin value="US915260CN13"/>
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        <balance>13600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13600000.00000000</valUSD>
        <pctVal>1.596383963261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Utah Housing Corp.</name>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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>
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          <isin value="US95648VBV09"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1029411.00000000</valUSD>
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        <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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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Westchester County Local Development Corp.</name>
        <lei>549300KOSU8OC75V9238</lei>
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          <isin value="US95737TEV44"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1687224.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <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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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55152.04000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <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>
        <identifiers>
          <isin value="US97689QTU03"/>
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        <balance>970000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1060827.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Wisconsin Department of Transportation</name>
        <lei>N/A</lei>
        <title>Wisconsin Department of Transportation, Series 2025 1</title>
        <cusip>9771235J3</cusip>
        <identifiers>
          <isin value="US9771235J35"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1775831.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>Wisconsin Health and Educational Facilities Authority, Forensic science and Protective Medicine Collaboration, Inc., Project, Series 2024</title>
        <cusip>97712JHF3</cusip>
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          <isin value="US97712JHF30"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1510059.45000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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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>1047034.30000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Wyoming Community Development Authority</name>
        <lei>549300UQ62NB8FGTHW65</lei>
        <title>Wyoming Community Development Authority, Series 2024-1</title>
        <cusip>98322QM46</cusip>
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          <isin value="US98322QM465"/>
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        <balance>950000.00000000</balance>
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          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="TYM6COM"/>
          <other otherDesc="Future Ticker" value="TYM6 Comdty"/>
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        <balance>156.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>76528.45000000</valUSD>
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              <counterpartyName>CME Clearing House</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 30 Year Bond</title>
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          <other otherDesc="Inhouse Sedol" value="YB07206"/>
          <other otherDesc="Option Ticker" value="USK6C 128.0 Comdty"/>
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        <balance>2650.00000000</balance>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Asset ID" value="YB074F8"/>
          <other otherDesc="Option Ticker" value="USK6C 131.0 Comdty"/>
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        <fairValLevel>1</fairValLevel>
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    </invstOrSecs>
    <explntrNotes>








    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-30</ncom:dateSigned>
      <ncom:nameOfApplicant>JPMorgan Trust II</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
