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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chaffey Joint Union High School District</name>
        <lei>N/A</lei>
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          <isin value="US157411PL74"/>
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      <invstOrSec>
        <name>Cupertino Union School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
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      <invstOrSec>
        <name>Sunnyvale School District</name>
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          <isin value="US867578XU50"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>South San Francisco Unified School District</name>
        <lei>N/A</lei>
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        <cusip>840058WK3</cusip>
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          <isin value="US840058WK34"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1337958.53000000</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>2033-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA ST HLTH FACS FING AUTH REVENUE</title>
        <cusip>13032UK98</cusip>
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          <isin value="US13032UK989"/>
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        <balance>1645000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1644623.13000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-11-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
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        <cusip>91412GEX9</cusip>
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          <isin value="US91412GEX97"/>
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        <balance>1675000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1675000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-07-01</maturityDt>
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          <annualizedRt>4.39000000</annualizedRt>
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      <invstOrSec>
        <name>Mojave Unified School District School Facilities Improvement District No 1</name>
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          <isin value="US608406GK42"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>398161.85000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
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          <annualizedRt>2.73100000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US130483HD58"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>San Marino Unified School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Mount Pleasant Elementary School District/CA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Napa Valley Unified School District</name>
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        <name>Mountain View-Whisman School District</name>
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        <name>Sunnyvale School District</name>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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        <name>Morongo Band of Mission Indians/The</name>
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      <invstOrSec>
        <name>Lake Tahoe Unified School District</name>
        <lei>N/A</lei>
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          <maturityDt>2044-08-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Rio Hondo Community College District/CA</name>
        <lei>N/A</lei>
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        <cusip>767121FD3</cusip>
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          <isin value="US767121FD32"/>
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        <balance>500000.00000000</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>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California State Public Works Board</name>
        <lei>N/A</lei>
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          <isin value="US13068XLL19"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1536043.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87900000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Vernon CA Electric System Revenue</name>
        <lei>N/A</lei>
        <title>VERNON CA ELEC SYS REVENUE</title>
        <cusip>924397FB3</cusip>
        <identifiers>
          <isin value="US924397FB38"/>
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        <balance>1420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1517213.63000000</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>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kern Community College District</name>
        <lei>N/A</lei>
        <title>KERN CA CMNTY CLG DIST</title>
        <cusip>492244GP7</cusip>
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          <isin value="US492244GP75"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1676769.15000000</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>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Napa Valley Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US630362FX44"/>
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        <balance>265000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>288879.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of San Clemente CA</name>
        <lei>254900UTAMSIX5XRDK86</lei>
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          <isin value="US797214DM20"/>
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        <balance>1825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1897308.14000000</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>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE</title>
        <cusip>13048RAF4</cusip>
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          <isin value="US13048RAF47"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3000390.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pleasanton Unified School District</name>
        <lei>N/A</lei>
        <title>PLEASANTON CA UNIF SCH DIST</title>
        <cusip>728835P37</cusip>
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          <isin value="US728835P377"/>
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        <balance>2445000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2369151.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mountain View-Whisman School District</name>
        <lei>N/A</lei>
        <title>MOUNTAIN VIEW-WHISMAN CA SCH DIST</title>
        <cusip>62451FMC1</cusip>
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          <isin value="US62451FMC13"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1080980.56000000</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>2041-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Beverly Hills Unified School District CA</name>
        <lei>N/A</lei>
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          <isin value="US088023PE05"/>
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        <balance>9960000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8566209.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pleasanton Unified School District</name>
        <lei>N/A</lei>
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        <balance>1905000.00000000</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>2038-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cottonwood Union School District</name>
        <lei>N/A</lei>
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          <isin value="US221834BG88"/>
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        <balance>445000.00000000</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>2045-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Carmichael Recreation &amp; Park District</name>
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          <isin value="US143430BA39"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Community College District</name>
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          <isin value="US797272TE13"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Carlos School District</name>
        <lei>N/A</lei>
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          <isin value="US797138MU55"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2043-10-01</maturityDt>
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      <invstOrSec>
        <name>Palo Alto Unified School District</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Mountain View School District/Los Angeles County</name>
        <lei>N/A</lei>
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          <isin value="US624403LK52"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2070778.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>North Monterey County Unified School District</name>
        <lei>N/A</lei>
        <title>NORTH MONTEREY CNTY CA UNION SCH DIST</title>
        <cusip>661190JA7</cusip>
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          <isin value="US661190JA73"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>330111.60000000</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>2044-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Trinity Public Utilities District</name>
        <lei>N/A</lei>
        <title>TRINITY CA PUBLIC UTILITIES DIST FING AUTH ELEC REVENUE</title>
        <cusip>89656BBM6</cusip>
        <identifiers>
          <isin value="US89656BBM63"/>
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        <balance>1190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1063185.51000000</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>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE</title>
        <cusip>13013JDD5</cusip>
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          <isin value="US13013JDD54"/>
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        <balance>4355000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4671479.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
        <lei>N/A</lei>
        <title>SAN LUIS OBISPO CA CMNTY FACS DIST #2019-1 SPL TAX</title>
        <cusip>798601AL4</cusip>
        <identifiers>
          <isin value="US798601AL49"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>126006.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Folsom Cordova Unified School District</name>
        <lei>N/A</lei>
        <title>FOLSOM CORDOVA CA UNIF SCH DIST</title>
        <cusip>34440PDE8</cusip>
        <identifiers>
          <isin value="US34440PDE88"/>
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        <balance>1120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1291022.77000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Rafael City Elementary School District</name>
        <lei>N/A</lei>
        <title>SAN RAFAEL CA ELEM SCH DIST</title>
        <cusip>799306RE7</cusip>
        <identifiers>
          <isin value="US799306RE78"/>
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        <balance>2535000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2440809.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California State Public Works Board</name>
        <lei>N/A</lei>
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        <cusip>13068XLK3</cusip>
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          <isin value="US13068XLK36"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3057087.90000000</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>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System Revenue</name>
        <lei>N/A</lei>
        <title>EAST BAY CA MUNI UTILITY DIST WTR SYS REVENUE</title>
        <cusip>271014T28</cusip>
        <identifiers>
          <isin value="US271014T281"/>
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        <balance>720000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>770621.54000000</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>2045-06-01</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>Huntington Beach Union High School District</name>
        <lei>N/A</lei>
        <title>HUNTINGTON BEACH CA UNION HIGH SCH DIST</title>
        <cusip>446222UV1</cusip>
        <identifiers>
          <isin value="US446222UV14"/>
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        <balance>1775000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1628238.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.88400000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Carmichael Recreation &amp; Park District</name>
        <lei>N/A</lei>
        <title>CARMICHAEL CA RECREATION &amp; PARK DIST</title>
        <cusip>143430BG0</cusip>
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          <isin value="US143430BG09"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1802715.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13057GAB5</cusip>
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          <isin value="US13057GAB59"/>
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        <balance>1075000.00000000</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>2046-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Riverside Community College District</name>
        <lei>N/A</lei>
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          <isin value="US76886PKT92"/>
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        <balance>825000.00000000</balance>
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        <valUSD>794968.93000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Folsom Cordova Unified School District</name>
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          <isin value="US34440PBT75"/>
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          <maturityDt>2039-10-01</maturityDt>
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        <name>Jefferson Union High School District</name>
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          <isin value="US4724667W54"/>
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        <name>City of Irvine CA</name>
        <lei>549300PJ9FL2XGFR8J79</lei>
        <title>IRVINE CA SPL TAX</title>
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          <isin value="US46360TFN81"/>
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        <balance>625000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>San Marino Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US798832HF17"/>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE</title>
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          <isin value="US13013JEB89"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Twin Rivers Unified School District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ukiah Unified School District/CA</name>
        <lei>N/A</lei>
        <title>UKIAH CA UNIF SCH DIST</title>
        <cusip>903698EU8</cusip>
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          <isin value="US903698EU85"/>
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        <balance>2350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2524394.91000000</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>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
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        <cusip>130178VU7</cusip>
        <identifiers>
          <isin value="US130178VU75"/>
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        <balance>8465000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9794276.73000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Housing Finance Agency</name>
        <lei>549300BOPCVLBA552Z14</lei>
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        <cusip>13032WBB9</cusip>
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          <isin value="US13032WBB90"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1503128.40000000</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>2063-08-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
        <lei>549300544P6FSHU1HB46</lei>
        <title>CALIFORNIA ST ENTERPRISE DEV AUTH REVENUE</title>
        <cusip>13067RDV2</cusip>
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          <isin value="US13067RDV24"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1748673.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE</title>
        <cusip>13013JBL9</cusip>
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          <isin value="US13013JBL98"/>
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        <balance>8030000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8390341.43000000</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>2053-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bay Area Toll Authority</name>
        <lei>5493001FUZGUQMIP5D78</lei>
        <title>BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE</title>
        <cusip>072024XA5</cusip>
        <identifiers>
          <isin value="US072024XA51"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>793941.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-04-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.37000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Washington Township Health Care District</name>
        <lei>N/A</lei>
        <title>WASHINGTON TWP CA HLTH CARE DIST</title>
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          <isin value="US940642GB10"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>977856.80000000</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>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System Revenue</name>
        <lei>N/A</lei>
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        <cusip>271014S86</cusip>
        <identifiers>
          <isin value="US271014S861"/>
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        <balance>1045000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1129711.36000000</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>2043-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sunnyvale School District</name>
        <lei>N/A</lei>
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        <cusip>867578XV3</cusip>
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          <isin value="US867578XV34"/>
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        <balance>2030000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2161432.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fontana Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US344640XZ59"/>
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        <balance>1185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1270049.11000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Folsom Cordova Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US34440PEQ00"/>
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        <balance>2530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2352593.62000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-10-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH MF HSG REVENUE</title>
        <cusip>130483GQ7</cusip>
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          <isin value="US130483GQ70"/>
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        <balance>2330000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kentfield School District</name>
        <lei>N/A</lei>
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          <isin value="US490818MV04"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sierra Sands Unified School District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA ST HLTH FACS FING AUTH REVENUE</title>
        <cusip>13032UXH6</cusip>
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          <isin value="US13032UXH66"/>
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        <balance>3000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fontana Unified School District</name>
        <lei>N/A</lei>
        <title>FONTANA CA UNIF SCH DIST</title>
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        <balance>1150000.00000000</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>2039-08-01</maturityDt>
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      <invstOrSec>
        <name>San Jose Evergreen Community College District</name>
        <lei>5493006H31JIFYW6Z091</lei>
        <title>SAN JOSE CA EVERGREEN CMNTY CLG DIST</title>
        <cusip>798189TE6</cusip>
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          <isin value="US798189TE62"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1946751.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
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      <invstOrSec>
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      <invstOrSec>
        <name>Cupertino Union School District</name>
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      <invstOrSec>
        <name>Morgan Hill Unified School District</name>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US797356RF13"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bay Area Toll Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13032UZ433"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-01</maturityDt>
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      <invstOrSec>
        <name>Mountain View-Whisman School District</name>
        <lei>N/A</lei>
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          <isin value="US62451FMA56"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-09-01</maturityDt>
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      <invstOrSec>
        <name>City of Los Angeles CA</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Manteca Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lake Tahoe Unified School District</name>
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        <name>City of San Francisco CA Public Utilities Commission Water Revenue</name>
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        <name>Morgan Hill Unified School District</name>
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        <name>Calistoga Joint Unified School District</name>
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        <name>Encinitas Union School District/CA</name>
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        <name>State of California</name>
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        <name>Beverly Hills Unified School District CA</name>
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      <invstOrSec>
        <name>Lake Tahoe Unified School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>La Canada Unified School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Hill Unified School District</name>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Milpitas Unified School District/CA</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>1040842.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-12-01</maturityDt>
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          <annualizedRt>4.55000000</annualizedRt>
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        <name>California Housing Finance Agency</name>
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          <isin value="US13034DAM65"/>
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        <valUSD>4761502.97000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
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      <invstOrSec>
        <name>San Joaquin Hills Transportation Corridor Agency</name>
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          <isin value="US798111HG83"/>
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        <valUSD>6846925.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
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          <annualizedRt>2.30300000</annualizedRt>
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      <invstOrSec>
        <name>Fontana Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US344640XY84"/>
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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>2041-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Scotts Valley Unified School District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of California</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-03-01</maturityDt>
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        <name>Jefferson Union High School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>South San Francisco Unified School District</name>
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        <name>Lake Tahoe Unified School District</name>
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        <name>Hacienda La Puente Unified School District/CA</name>
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        <name>City of Irvine CA</name>
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        <invCountry>US</invCountry>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>California Health Facilities Financing Authority</name>
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      <invstOrSec>
        <name>Cottonwood Union School District</name>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>13048RAM9</cusip>
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          <isin value="US13048RAM97"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1987231.80000000</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>2053-09-01</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA ST INFRASTRUCTURE &amp; ECON DEV BANK REVENUE</title>
        <cusip>13034AV64</cusip>
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          <isin value="US13034AV646"/>
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        <balance>5750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5721086.13000000</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>2072-08-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.82000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Morongo Band of Mission Indians/The</name>
        <lei>N/A</lei>
        <title>MORONGO BAND OF MISSION</title>
        <cusip>617734AG3</cusip>
        <identifiers>
          <isin value="US617734AG30"/>
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        <balance>2080000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2206313.82000000</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>2039-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Burbank-Glendale-Pasadena Airport Authority Brick Campaign</name>
        <lei>N/A</lei>
        <title>BURBANK GLENDALE PASADENA CA ARPT AUTH ARPT REVENUE</title>
        <cusip>120827DY3</cusip>
        <identifiers>
          <isin value="US120827DY38"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2374672.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mountain House Public Financing Authority</name>
        <lei>N/A</lei>
        <title>MOUNTAIN HOUSE CA PUBLIC FING AUTH UTILITY SYS REVENUE</title>
        <cusip>62412PCN4</cusip>
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          <isin value="US62412PCN42"/>
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        <balance>3370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3161833.08000000</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>2048-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Torrance Unified School District</name>
        <lei>N/A</lei>
        <title>TORRANCE CA UNIF SCH DIST</title>
        <cusip>891381Z24</cusip>
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          <isin value="US891381Z240"/>
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        <balance>7115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7051805.99000000</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>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Folsom Cordova Unified School District</name>
        <lei>N/A</lei>
        <title>FOLSOM CORDOVA CA UNIF SCH DIST</title>
        <cusip>34440PDQ1</cusip>
        <identifiers>
          <isin value="US34440PDQ19"/>
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        <balance>1430000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1648359.43000000</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>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Madera Unified School District</name>
        <lei>N/A</lei>
        <title>MADERA CA UNIF SCH DIST</title>
        <cusip>556452JS0</cusip>
        <identifiers>
          <isin value="US556452JS03"/>
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        <balance>3250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3466912.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kentfield School District</name>
        <lei>N/A</lei>
        <title>KENTFIELD CA SCH DIST</title>
        <cusip>490818MS7</cusip>
        <identifiers>
          <isin value="US490818MS74"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1113909.10000000</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>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mountain View-Whisman School District</name>
        <lei>N/A</lei>
        <title>MOUNTAIN VIEW-WHISMAN CA SCH DIST</title>
        <cusip>62451FKA7</cusip>
        <identifiers>
          <isin value="US62451FKA74"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>351901.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Luis Coastal Unified School District</name>
        <lei>N/A</lei>
        <title>SAN LUIS COASTAL CA UNIF SCH DIST</title>
        <cusip>798546EF0</cusip>
        <identifiers>
          <isin value="US798546EF09"/>
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        <balance>3140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2779823.79000000</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>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lompoc Unified School District</name>
        <lei>N/A</lei>
        <title>LOMPOC CA UNIF SCH DIST</title>
        <cusip>541772LS6</cusip>
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          <isin value="US541772LS61"/>
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        <balance>2610000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2767466.00000000</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>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA ST HLTH FACS FING AUTH REVENUE</title>
        <cusip>13032UB49</cusip>
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          <isin value="US13032UB491"/>
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        <balance>4620000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4705016.32000000</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>2051-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cottonwood Union School District</name>
        <lei>N/A</lei>
        <title>COTTONWOOD CA UNION SCH DIST</title>
        <cusip>221834BH6</cusip>
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          <isin value="US221834BH61"/>
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        <balance>895000.00000000</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>
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      <invstOrSec>
        <name>Burbank Unified School District</name>
        <lei>54930068ZHOQ5PICU256</lei>
        <title>BURBANK CA UNIF SCH DIST</title>
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      <invstOrSec>
        <name>Milpitas Unified School District/CA</name>
        <lei>549300BL87026BFAVO38</lei>
        <title>MILPITAS CA UNIF SCH DIST</title>
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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>2039-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Glendale Unified School District/CA</name>
        <lei>N/A</lei>
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        <cusip>378460D89</cusip>
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        <balance>8140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7045341.75000000</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>2039-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Long Beach CA Airport System Revenue</name>
        <lei>N/A</lei>
        <title>LONG BEACH CA ARPT REVENUE</title>
        <cusip>542403DR8</cusip>
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          <isin value="US542403DR83"/>
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        <balance>345000.00000000</balance>
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      <invstOrSec>
        <name>West Valley-Mission Community College District</name>
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      <invstOrSec>
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        <name>California Enterprise Development Authority</name>
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          <isin value="US13067RFS76"/>
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          <maturityDt>2040-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mountain View-Whisman School District</name>
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          <maturityDt>2045-09-01</maturityDt>
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      <invstOrSec>
        <name>State of California</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>Folsom Cordova Unified School District</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Rio Hondo Community College District/CA</name>
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          <isin value="US767121FJ02"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Modesto High School District</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Folsom Cordova Unified School District School Facilities Improvement Dist No 5</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-10-01</maturityDt>
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        <name>South San Francisco Unified School District</name>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Walnut Creek Elementary School District Contra Costa County/CA</name>
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        <name>California Enterprise Development Authority</name>
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        <name>San Diego County Regional Airport Authority</name>
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        <name>San Bernardino Community College District</name>
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        <name>Kentfield School District</name>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Rio Hondo Community College District/CA</name>
        <lei>N/A</lei>
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          <isin value="US767121FF89"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Santa Clarita Community College District</name>
        <lei>N/A</lei>
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        <cusip>801686UL8</cusip>
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          <isin value="US801686UL86"/>
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        <curCd>USD</curCd>
        <valUSD>2597441.18000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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          <isin value="US79766DGF06"/>
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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>2046-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
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        <cusip>130179XC3</cusip>
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          <isin value="US130179XC33"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4569329.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alameda Corridor Transportation Authority</name>
        <lei>N/A</lei>
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          <isin value="US010869EF81"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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          <isin value="US13032UKB34"/>
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        <balance>9360000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Marino Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US798832HE42"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>781867.80000000</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>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kentfield School District</name>
        <lei>N/A</lei>
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        <cusip>490818MR9</cusip>
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          <isin value="US490818MR91"/>
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        <balance>1725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1958460.98000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lakeside Union School District/San Diego County</name>
        <lei>N/A</lei>
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          <isin value="US512138DC93"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2485708.80000000</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>2037-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Antelope Valley Union High School District</name>
        <lei>N/A</lei>
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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>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>La Canada Unified School District</name>
        <lei>N/A</lei>
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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>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH CHARTER SCH REVENUE</title>
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          <isin value="US13048DDJ46"/>
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        <balance>2105000.00000000</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>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Jefferson Union High School District</name>
        <lei>549300S1EAFO90X8HQ88</lei>
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        <name>Bassett Unified School District</name>
        <lei>N/A</lei>
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          <maturityDt>2050-08-01</maturityDt>
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      <invstOrSec>
        <name>San Diego Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
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          <maturityDt>2025-09-01</maturityDt>
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      <invstOrSec>
        <name>Simi Valley Unified School District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE</title>
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          <isin value="US79739GRH10"/>
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        <balance>6850000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jefferson Union High School District</name>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
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          <isin value="US79739GFR20"/>
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      <invstOrSec>
        <name>Beverly Hills Unified School District CA</name>
        <lei>N/A</lei>
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          <maturityDt>2032-08-01</maturityDt>
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      <invstOrSec>
        <name>Menlo Park City School District</name>
        <lei>N/A</lei>
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          <isin value="US586840QB92"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-07-01</maturityDt>
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      <invstOrSec>
        <name>Pleasanton Unified School District</name>
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      <invstOrSec>
        <name>Independent Cities Finance Authority</name>
        <lei>549300ZZZYTBUL6FR983</lei>
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        <cusip>45385LNE9</cusip>
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          <isin value="US45385LNE91"/>
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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>2041-06-15</maturityDt>
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      <invstOrSec>
        <name>Byron Union School District</name>
        <lei>N/A</lei>
        <title>BYRON UNION SCH DIST CA</title>
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          <isin value="US12463NEY67"/>
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        <balance>1155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1064226.12000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Burbank-Glendale-Pasadena Airport Authority Brick Campaign</name>
        <lei>N/A</lei>
        <title>BURBANK GLENDALE PASADENA CA ARPT AUTH ARPT REVENUE</title>
        <cusip>120827EC0</cusip>
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          <isin value="US120827EC09"/>
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        <balance>4250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4363470.33000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US376087ER96"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1657616.28000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
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      <invstOrSec>
        <name>RNR School Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US769697LS03"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Mount Pleasant Elementary School District/CA</name>
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      <invstOrSec>
        <name>Hacienda La Puente Unified School District/CA</name>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
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        <name>Independent Cities Finance Authority</name>
        <lei>549300ZZZYTBUL6FR983</lei>
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        <name>Milpitas Unified School District/CA</name>
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        <name>Rio Elementary School District Community Facilities District</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>San Rafael City Elementary School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US13058TUE80"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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          <isin value="US544445ET29"/>
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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>2048-05-15</maturityDt>
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      <invstOrSec>
        <name>Burbank Unified School District</name>
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          <isin value="US12082SEJ96"/>
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        <curCd>USD</curCd>
        <valUSD>749118.72000000</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>2043-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Burbank Unified School District</name>
        <lei>54930068ZHOQ5PICU256</lei>
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          <isin value="US12082SFA78"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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        <cusip>544445F46</cusip>
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          <isin value="US544445F469"/>
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        <curCd>USD</curCd>
        <valUSD>10309265.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-05-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Encinitas Union School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US292533HK57"/>
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        <balance>665000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>705624.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chaffey Community College District</name>
        <lei>N/A</lei>
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          <isin value="US157432ML64"/>
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        <curCd>USD</curCd>
        <valUSD>2966195.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.81200000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Folsom Cordova Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US34440PDH10"/>
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        <curCd>USD</curCd>
        <valUSD>1772072.33000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
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        <cusip>544647GW4</cusip>
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          <isin value="US544647GW44"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4353755.20000000</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>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Rancho Water District Financing Authority</name>
        <lei>N/A</lei>
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        <valUSD>2826984.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Jefferson Union High School District</name>
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          <isin value="US4724667T26"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
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        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Electric Power Authority</name>
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        <name>San Jose Evergreen Community College District</name>
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        <name>Carmichael Recreation &amp; Park District</name>
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        <name>South San Francisco Unified School District</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Folsom Cordova Unified School District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Encinitas Union School District/CA</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
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      <invstOrSec>
        <name>Kentfield School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside Community College District</name>
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          <isin value="US76886PKR37"/>
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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>2041-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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          <isin value="US544445NU90"/>
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        <balance>3700000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mount Pleasant Elementary School District/CA</name>
        <lei>549300DB7Z2IW75B3O16</lei>
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          <isin value="US622344KX62"/>
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        <balance>2515000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US798306ZS82"/>
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        <balance>1395000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pleasanton Unified School District</name>
        <lei>N/A</lei>
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        <balance>1090000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Stockton Unified School District</name>
        <lei>N/A</lei>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1903889.58000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <balance>14165000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>West Sonoma County Union High School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-01</maturityDt>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
        <lei>549300544P6FSHU1HB46</lei>
        <title>CALIFORNIA ST ENTERPRISE DEV AUTH REVENUE</title>
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          <isin value="US13067REH21"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-01</maturityDt>
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      <invstOrSec>
        <name>Lake Elsinore Facilities Financing Authority Successor Agency</name>
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          <isin value="US50962CCR34"/>
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        <name>California Enterprise Development Authority</name>
        <lei>549300544P6FSHU1HB46</lei>
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      <invstOrSec>
        <name>Hacienda La Puente Unified School District/CA</name>
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          <isin value="US40450REY36"/>
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        <name>Napa Valley Unified School District</name>
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      <invstOrSec>
        <name>California State Public Works Board</name>
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        <name>Monterey Peninsula Unified School District</name>
        <lei>N/A</lei>
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        <name>Holtville Unified School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>San Marino Unified School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Los Banos Unified School District</name>
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      <invstOrSec>
        <name>Palmdale Elementary School District</name>
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          <isin value="US696735QT97"/>
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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>2029-08-01</maturityDt>
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      <invstOrSec>
        <name>San Diego Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
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          <isin value="US79730WBC38"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
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      <invstOrSec>
        <name>Belmont-Redwood Shores School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US080495JU90"/>
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        <curCd>USD</curCd>
        <valUSD>782625.03000000</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>2042-08-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California State University</name>
        <lei>N/A</lei>
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          <isin value="US13077CY736"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cambria Community Healthcare District</name>
        <lei>N/A</lei>
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          <isin value="US13201KAJ43"/>
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        <balance>545000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lake Tahoe Unified School District</name>
        <lei>N/A</lei>
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          <maturityDt>2041-08-01</maturityDt>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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        <name>California School Finance Authority</name>
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        <name>Rio Elementary School District Community Facilities District</name>
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        <name>Chaffey Community College District</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>Napa Valley Unified School District</name>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Riverbank Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US768569EW11"/>
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        <curCd>USD</curCd>
        <valUSD>1068502.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-08-01</maturityDt>
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      <invstOrSec>
        <name>San Marino Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US798832HJ39"/>
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        <curCd>USD</curCd>
        <valUSD>2925646.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13058TUC2</cusip>
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          <isin value="US13058TUC25"/>
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        <curCd>USD</curCd>
        <valUSD>984101.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>La Canada Unified School District</name>
        <lei>N/A</lei>
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        <cusip>502516RW9</cusip>
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          <isin value="US502516RW96"/>
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        <curCd>USD</curCd>
        <valUSD>1316053.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Belmont-Redwood Shores School District/CA</name>
        <lei>N/A</lei>
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        <cusip>080495JT2</cusip>
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          <isin value="US080495JT28"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>545905.90000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jefferson Union High School District</name>
        <lei>549300S1EAFO90X8HQ88</lei>
        <title>JEFFERSON CA UNION HIGH SCH DIST SAN MATEO CNTY</title>
        <cusip>4724667V7</cusip>
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          <isin value="US4724667V71"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>852059.76000000</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>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Pasadena CA</name>
        <lei>5493007ZF3ZMBUWLWB58</lei>
        <title>PASADENA CA</title>
        <cusip>70218GBB0</cusip>
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          <isin value="US70218GBB05"/>
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        <balance>5070000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5347447.13000000</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>2051-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Napa Valley Unified School District</name>
        <lei>N/A</lei>
        <title>NAPA VLY CA UNIF SCH DIST</title>
        <cusip>630362GT2</cusip>
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          <isin value="US630362GT23"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>529218.55000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
        <lei>549300544P6FSHU1HB46</lei>
        <title>CALIFORNIA ST ENTERPRISE DEV AUTH CHRT SCH REVENUE</title>
        <cusip>13069AAZ1</cusip>
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          <isin value="US13069AAZ12"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>459384.60000000</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>2054-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mount Pleasant Elementary School District/CA</name>
        <lei>549300DB7Z2IW75B3O16</lei>
        <title>MOUNT PLEASANT CA ELEM SCH DIST</title>
        <cusip>622344KS7</cusip>
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          <isin value="US622344KS77"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>530199.28000000</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>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Encinitas Union School District/CA</name>
        <lei>N/A</lei>
        <title>ENCINITAS CA UNION SCH DIST</title>
        <cusip>292533HL3</cusip>
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          <isin value="US292533HL31"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2619211.75000000</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>2050-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Encinitas Union School District/CA</name>
        <lei>N/A</lei>
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        <cusip>292533HG4</cusip>
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          <isin value="US292533HG46"/>
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        <balance>850000.00000000</balance>
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        <valUSD>916829.30000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Rio Hondo Community College District/CA</name>
        <lei>N/A</lei>
        <title>RIO HONDO CA CMNTY CLG DIST</title>
        <cusip>767121FE1</cusip>
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          <isin value="US767121FE15"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
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          <isin value="US5444456E48"/>
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        <balance>5000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-15</maturityDt>
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      <invstOrSec>
        <name>San Marino Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US798832HD68"/>
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        <balance>535000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US13048VKY38"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2038-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
        <lei>N/A</lei>
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        <cusip>54466HNJ1</cusip>
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        <balance>1975000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>San Mateo Foster City Public Financing Authority</name>
        <lei>N/A</lei>
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        <balance>5555000.00000000</balance>
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        <name>Washington Unified School District/Yolo County CA</name>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
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          <isin value="US13067RDW07"/>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Antelope Valley Union High School District</name>
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          <isin value="US036717MZ60"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cambria Community Healthcare District</name>
        <lei>N/A</lei>
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          <isin value="US13201KAK16"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <maturityDt>2050-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>South San Francisco Unified School District</name>
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          <isin value="US840058WL17"/>
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        <curCd>USD</curCd>
        <valUSD>1175045.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Calistoga Joint Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US130897HL82"/>
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        <valUSD>1521516.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Durham Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US266669DB37"/>
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        <curCd>USD</curCd>
        <valUSD>1729496.99000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US5446463Z31"/>
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        <curCd>USD</curCd>
        <valUSD>17265731.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Mateo Union High School District</name>
        <lei>N/A</lei>
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          <isin value="US799017YE20"/>
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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>2034-09-01</maturityDt>
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      <invstOrSec>
        <name>Pleasanton Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Burbank Unified School District</name>
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        <name>California Enterprise Development Authority</name>
        <lei>549300544P6FSHU1HB46</lei>
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          <isin value="US13067REJ86"/>
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        <name>San Diego Unified School District/CA</name>
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        <name>California Enterprise Development Authority</name>
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        <name>Carmichael Recreation &amp; Park District</name>
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        <name>Kern Community College District</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2041-08-01</maturityDt>
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      <invstOrSec>
        <name>Alameda Corridor Transportation Authority</name>
        <lei>N/A</lei>
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        <balance>740000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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      <invstOrSec>
        <name>Pleasanton Unified School District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
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          <isin value="US91412HVB67"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alameda Corridor Transportation Authority</name>
        <lei>N/A</lei>
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          <isin value="US010869JD88"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Tamalpais Union High School District</name>
        <lei>N/A</lei>
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          <isin value="US874857LT06"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-01</maturityDt>
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      <invstOrSec>
        <name>Mount Pleasant Elementary School District/CA</name>
        <lei>549300DB7Z2IW75B3O16</lei>
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          <isin value="US622344KU24"/>
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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>2041-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cupertino Union School District</name>
        <lei>N/A</lei>
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          <isin value="US231237T816"/>
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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>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fontana Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US344640XX02"/>
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        <valUSD>1273535.83000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Napa Valley Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US630362FY27"/>
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        <valUSD>270066.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of San Clemente CA</name>
        <lei>254900UTAMSIX5XRDK86</lei>
        <title>SAN CLEMENTE CA SPL TAX</title>
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          <isin value="US797214DK63"/>
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        <balance>3160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3315775.04000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Regents of the University of California Medical Center Pooled Revenue</name>
        <lei>N/A</lei>
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          <isin value="US913366KS81"/>
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        <valUSD>9689151.95000000</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>2047-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
        <lei>N/A</lei>
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          <isin value="US54466HNH56"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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      <invstOrSec>
        <name>Washington Unified School District/Yolo County CA</name>
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        <name>Lake Tahoe Unified School District</name>
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        <name>Pajaro Valley Unified School District</name>
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        <name>Napa Valley Unified School District</name>
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        <name>Piner-Olivet Union Elementary School District/CA</name>
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      <invstOrSec>
        <name>San Diego Community College District</name>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048VV21</cusip>
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          <isin value="US13048VV212"/>
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        <balance>6750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6912112.73000000</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>2049-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Central Unified School District</name>
        <lei>549300AKOP2UG4D0YH67</lei>
        <title>CENTRL CA UNIF SCH DIST</title>
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          <isin value="US15276PQL66"/>
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        <balance>1070000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>915978.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fullerton Joint Union High School District</name>
        <lei>N/A</lei>
        <title>FULLERTON CA JT UNION HIGH SCH DIST</title>
        <cusip>359796LE7</cusip>
        <identifiers>
          <isin value="US359796LE74"/>
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        <balance>7895000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6881601.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Napa Valley Unified School District</name>
        <lei>N/A</lei>
        <title>NAPA VLY CA UNIF SCH DIST</title>
        <cusip>630362GV7</cusip>
        <identifiers>
          <isin value="US630362GV78"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1855580.65000000</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>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Berkeley Unified School District/CA</name>
        <lei>N/A</lei>
        <title>BERKELEY CA UNIF SCH DIST</title>
        <cusip>084154M75</cusip>
        <identifiers>
          <isin value="US084154M758"/>
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        <balance>2710000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2895850.72000000</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>2044-08-01</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>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048VBW7</cusip>
        <identifiers>
          <isin value="US13048VBW72"/>
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        <balance>2570000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2587886.43000000</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>2037-12-31</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>City of Irvine CA</name>
        <lei>549300PJ9FL2XGFR8J79</lei>
        <title>IRVINE CA SPL TAX</title>
        <cusip>46360TFU2</cusip>
        <identifiers>
          <isin value="US46360TFU25"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1021310.30000000</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>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RNR School Financing Authority</name>
        <lei>N/A</lei>
        <title>RNR CA SCH FING AUTH</title>
        <cusip>769697LR2</cusip>
        <identifiers>
          <isin value="US769697LR20"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>985865.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mountain View-Whisman School District</name>
        <lei>N/A</lei>
        <title>MOUNTAIN VIEW-WHISMAN CA SCH DIST</title>
        <cusip>62451FMB3</cusip>
        <identifiers>
          <isin value="US62451FMB30"/>
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        <balance>1300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1297859.81000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH MF HSG REVENUE</title>
        <cusip>130483HX1</cusip>
        <identifiers>
          <isin value="US130483HX13"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1005110.80000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Santa Monica-Malibu Unified School District</name>
        <lei>N/A</lei>
        <title>SANTA MONICA-MALIBU CA UNIF SCH DIST</title>
        <cusip>802498F34</cusip>
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          <isin value="US802498F341"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2378554.43000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fairfield-Suisun Unified School District</name>
        <lei>N/A</lei>
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        <cusip>304747JT6</cusip>
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          <isin value="US304747JT69"/>
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        <balance>505000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>456413.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Monterey County Unified School District</name>
        <lei>N/A</lei>
        <title>NORTH MONTEREY CNTY CA UNION SCH DIST</title>
        <cusip>661190HZ4</cusip>
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          <isin value="US661190HZ43"/>
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        <balance>400000.00000000</balance>
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        <valUSD>378189.56000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Independent Cities Finance Authority</name>
        <lei>549300ZZZYTBUL6FR983</lei>
        <title>INDEP CITIES CA FIN AUTH MOBILE HOME PARK REVENUE</title>
        <cusip>45385LNT6</cusip>
        <identifiers>
          <isin value="US45385LNT60"/>
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        <balance>1595000.00000000</balance>
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        <valUSD>1425883.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048TN33</cusip>
        <identifiers>
          <isin value="US13048TN338"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>504733.55000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE</title>
        <cusip>544445GA1</cusip>
        <identifiers>
          <isin value="US544445GA10"/>
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        <balance>3215000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3241691.89000000</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>2038-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lompoc Unified School District</name>
        <lei>N/A</lei>
        <title>LOMPOC CA UNIF SCH DIST</title>
        <cusip>541772LN7</cusip>
        <identifiers>
          <isin value="US541772LN74"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1064258.80000000</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>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Los Angeles Housing Authority</name>
        <lei>N/A</lei>
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        <cusip>544562DL2</cusip>
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          <isin value="US544562DL25"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2274653.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-12-01</maturityDt>
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          <annualizedRt>4.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Menlo Park City School District</name>
        <lei>N/A</lei>
        <title>MENLO PARK CA CITY SCH DIST</title>
        <cusip>586840QC7</cusip>
        <identifiers>
          <isin value="US586840QC75"/>
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        <balance>2475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2200133.93000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>13058TUD0</cusip>
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          <isin value="US13058TUD08"/>
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        <balance>270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>278608.46000000</valUSD>
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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>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH SPL FAC REVENUE</title>
        <cusip>13050RAA0</cusip>
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          <isin value="US13050RAA05"/>
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        <balance>10130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9922720.95000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kentfield School District</name>
        <lei>N/A</lei>
        <title>KENTFIELD CA SCH DIST</title>
        <cusip>490818MT5</cusip>
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          <isin value="US490818MT57"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1264906.62000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA ST HLTH FACS FING AUTH REVENUE</title>
        <cusip>13032UJ82</cusip>
        <identifiers>
          <isin value="US13032UJ825"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1503222.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>3.85000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pleasanton Unified School District</name>
        <lei>N/A</lei>
        <title>PLEASANTON CA UNIF SCH DIST</title>
        <cusip>728835N96</cusip>
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          <isin value="US728835N968"/>
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        <balance>1060000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1018313.70000000</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>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Modesto High School District</name>
        <lei>N/A</lei>
        <title>MODESTO CA HIGH SCH DIST STANISLAUS CNTY</title>
        <cusip>607743MB4</cusip>
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          <isin value="US607743MB49"/>
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        <balance>3750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3954460.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sunnyvale School District</name>
        <lei>N/A</lei>
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          <isin value="US867578XY72"/>
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        <balance>3400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3345553.08000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mount Pleasant Elementary School District/CA</name>
        <lei>549300DB7Z2IW75B3O16</lei>
        <title>MOUNT PLEASANT CA ELEM SCH DIST</title>
        <cusip>622344KV0</cusip>
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        <balance>845000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>914582.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
        <lei>N/A</lei>
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        <cusip>797356RE4</cusip>
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        <balance>1750000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-01</maturityDt>
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      <invstOrSec>
        <name>Kentfield School District</name>
        <lei>N/A</lei>
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          <isin value="US490818MU21"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Independent Cities Finance Authority</name>
        <lei>549300ZZZYTBUL6FR983</lei>
        <title>INDEP CITIES CA FIN AUTH MOBILE HOME PARK REVENUE</title>
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          <isin value="US45385LNH23"/>
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        <balance>3685000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-06-15</maturityDt>
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          <annualizedRt>3.20000000</annualizedRt>
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      <invstOrSec>
        <name>San Marino Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US798832HC85"/>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
        <lei>549300544P6FSHU1HB46</lei>
        <title>CALIFORNIA ST ENTERPRISE DEV AUTH REVENUE</title>
        <cusip>13067RFJ7</cusip>
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          <isin value="US13067RFJ77"/>
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        <balance>6000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA STWD CMNTYS DEV AUTH REVENUE</title>
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          <isin value="US13080SEW08"/>
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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>2044-12-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048V3D8</cusip>
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          <isin value="US13048V3D86"/>
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        <balance>2250000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Irvine CA</name>
        <lei>549300PJ9FL2XGFR8J79</lei>
        <title>IRVINE CA SPL TAX</title>
        <cusip>46360TFR9</cusip>
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          <isin value="US46360TFR95"/>
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        <balance>1150000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US13059TJR14"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2206387.35000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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          <isin value="US13034A6B14"/>
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        <curCd>USD</curCd>
        <valUSD>9482029.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-01-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.50000000</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 CNTY CA REGL ARPT AUTH AIRPORT REVENUE</title>
        <cusip>79739GRJ7</cusip>
        <identifiers>
          <isin value="US79739GRJ75"/>
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        <balance>7240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7248884.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Modesto High School District</name>
        <lei>N/A</lei>
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        <cusip>607743MA6</cusip>
        <identifiers>
          <isin value="US607743MA65"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1051866.70000000</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>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Belmont-Redwood Shores School District/CA</name>
        <lei>N/A</lei>
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        <cusip>080495JZ8</cusip>
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          <isin value="US080495JZ87"/>
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        <balance>1120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1120036.96000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063EMF0</cusip>
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          <isin value="US13063EMF06"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3160033.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-01</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>Culver City Unified School District</name>
        <lei>N/A</lei>
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        <cusip>230345KT6</cusip>
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          <isin value="US230345KT69"/>
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        <balance>6640000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6143321.36000000</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>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
        <title>LONG BEACH CA UNIF SCH DIST</title>
        <cusip>542433UX3</cusip>
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          <isin value="US542433UX39"/>
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        <balance>2095000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2069760.07000000</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>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048TN25</cusip>
        <identifiers>
          <isin value="US13048TN254"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>800610.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Burbank Unified School District</name>
        <lei>54930068ZHOQ5PICU256</lei>
        <title>BURBANK CA UNIF SCH DIST</title>
        <cusip>12082SEH3</cusip>
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          <isin value="US12082SEH31"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>539741.40000000</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>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Clovis Unified School District</name>
        <lei>N/A</lei>
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        <cusip>189342P93</cusip>
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          <isin value="US189342P939"/>
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        <balance>1860000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1996586.12000000</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>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE</title>
        <cusip>79739GRE8</cusip>
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          <isin value="US79739GRE88"/>
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        <balance>3000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lake Tahoe Unified School District</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2050-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington Unified School District/Yolo County CA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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      <invstOrSec>
        <name>Placentia-Yorba Linda Unified School District</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2039-08-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
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        <balance>637594.00000000</balance>
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        <valUSD>441565.02000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>None</couponKind>
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          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Modesto High School District</name>
        <lei>N/A</lei>
        <title>MODESTO CA HIGH SCH DIST STANISLAUS CNTY</title>
        <cusip>607743LW9</cusip>
        <identifiers>
          <isin value="US607743LW94"/>
        </identifiers>
        <balance>1400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1515172.82000000</valUSD>
        <pctVal>0.154665905144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-01</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>San Dieguito Union High School District</name>
        <lei>N/A</lei>
        <title>SAN DIEGUITO CA UNION HIGH SCH DIST</title>
        <cusip>797508KS6</cusip>
        <identifiers>
          <isin value="US797508KS61"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5505304.00000000</valUSD>
        <pctVal>0.561970763345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-01</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>Ventura Unified School District</name>
        <lei>N/A</lei>
        <title>VENTURA CA UNIF SCH DIST</title>
        <cusip>923004UK9</cusip>
        <identifiers>
          <isin value="US923004UK92"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1857434.20000000</valUSD>
        <pctVal>0.189603283531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH REVENUE</title>
        <cusip>13048VCD8</cusip>
        <identifiers>
          <isin value="US13048VCD82"/>
        </identifiers>
        <balance>7705000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7386281.13000000</valUSD>
        <pctVal>0.753977263545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-31</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>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA PUBLIC FIN AUTH REVENUE</title>
        <cusip>13056HAA6</cusip>
        <identifiers>
          <isin value="US13056HAA68"/>
        </identifiers>
        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3008167.20000000</valUSD>
        <pctVal>0.307067878114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-01</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>ABC Unified School District</name>
        <lei>N/A</lei>
        <title>ABC CA UNIF SCH DIST</title>
        <cusip>000416Z42</cusip>
        <identifiers>
          <isin value="US000416Z424"/>
        </identifiers>
        <balance>5780000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5379956.37000000</valUSD>
        <pctVal>0.549175520191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>Lompoc Unified School District</name>
        <lei>N/A</lei>
        <title>LOMPOC CA UNIF SCH DIST</title>
        <cusip>541772LW7</cusip>
        <identifiers>
          <isin value="US541772LW73"/>
        </identifiers>
        <balance>4290000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4523720.06000000</valUSD>
        <pctVal>0.461772577005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>Mount Pleasant Elementary School District/CA</name>
        <lei>549300DB7Z2IW75B3O16</lei>
        <title>MOUNT PLEASANT CA ELEM SCH DIST</title>
        <cusip>622344KT5</cusip>
        <identifiers>
          <isin value="US622344KT50"/>
        </identifiers>
        <balance>560000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>618984.86000000</valUSD>
        <pctVal>0.063184774950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</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>Santa Monica-Malibu Unified School District</name>
        <lei>N/A</lei>
        <title>SANTA MONICA-MALIBU CA UNIF SCH DIST</title>
        <cusip>802498A88</cusip>
        <identifiers>
          <isin value="US802498A888"/>
        </identifiers>
        <balance>7420000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7943162.68000000</valUSD>
        <pctVal>0.810822652964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</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>Napa Valley Unified School District</name>
        <lei>N/A</lei>
        <title>NAPA VLY CA UNIF SCH DIST</title>
        <cusip>630362GB1</cusip>
        <identifiers>
          <isin value="US630362GB15"/>
        </identifiers>
        <balance>280000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296201.75000000</valUSD>
        <pctVal>0.030235700617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</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>City of San Clemente CA</name>
        <lei>254900UTAMSIX5XRDK86</lei>
        <title>SAN CLEMENTE CA SPL TAX</title>
        <cusip>797214DH3</cusip>
        <identifiers>
          <isin value="US797214DH35"/>
        </identifiers>
        <balance>1355000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1442815.79000000</valUSD>
        <pctVal>0.147279839745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-01</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>California Public Finance Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA PUBLIC FIN AUTH REVENUE</title>
        <cusip>13057EAR5</cusip>
        <identifiers>
          <isin value="US13057EAR53"/>
        </identifiers>
        <balance>425000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>430448.97000000</valUSD>
        <pctVal>0.043939396671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bay Area Toll Authority</name>
        <lei>5493001FUZGUQMIP5D78</lei>
        <title>BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE</title>
        <cusip>072024F72</cusip>
        <identifiers>
          <isin value="US072024F728"/>
        </identifiers>
        <balance>3480000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3734857.80000000</valUSD>
        <pctVal>0.381247046275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-01</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>Biggs Unified High School District</name>
        <lei>N/A</lei>
        <title>BIGGS CA UNIF SCH DIST</title>
        <cusip>089842AP3</cusip>
        <identifiers>
          <isin value="US089842AP30"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1035389.10000000</valUSD>
        <pctVal>0.105690512801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-01</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>Rio Hondo Community College District/CA</name>
        <lei>N/A</lei>
        <title>RIO HONDO CA CMNTY CLG DIST</title>
        <cusip>767121FG6</cusip>
        <identifiers>
          <isin value="US767121FG62"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1065921.80000000</valUSD>
        <pctVal>0.108807231646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</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>Modesto High School District</name>
        <lei>N/A</lei>
        <title>MODESTO CA HIGH SCH DIST STANISLAUS CNTY</title>
        <cusip>607743MC2</cusip>
        <identifiers>
          <isin value="US607743MC22"/>
        </identifiers>
        <balance>2440000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2360676.58000000</valUSD>
        <pctVal>0.240973290425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-07-25</ncom:dateSigned>
      <ncom:nameOfApplicant>Eaton Vance Municipals Trust</ncom:nameOfApplicant>
      <ncom:signature>James Kirchner</ncom:signature>
      <ncom:signerName>James Kirchner</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
