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        <valUSD>448469.87000000</valUSD>
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        <name>Southern California Public Power Authority</name>
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      <invstOrSec>
        <name>County of Sacramento CA Airport System Revenue</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Poway Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US738850RG33"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Monterey Peninsula Community College District</name>
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          <isin value="US612574FN89"/>
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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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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525N389"/>
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        <fairValLevel>2</fairValLevel>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Grossmont Healthcare District</name>
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        <name>Irvine Unified School District</name>
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        <name>Independent Cities Finance Authority</name>
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        <name>Guam Power Authority</name>
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        <name>California Educational Facilities Authority</name>
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        <name>Riverside County Public Financing Authority</name>
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        <name>Southern California Public Power Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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          <maturityDt>2031-09-02</maturityDt>
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        <name>City of Los Angeles Department of Airports</name>
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        <balance>6155000.00000000</balance>
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          <maturityDt>2039-05-15</maturityDt>
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        <name>Sunnyvale Financing Authority</name>
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          <isin value="US86754EAR71"/>
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        <balance>2000000.00000000</balance>
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          <maturityDt>2039-04-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
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          <couponKind>None</couponKind>
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        <name>Northern California Transmission Agency</name>
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        <name>Abag Finance Authority for Nonprofit Corps</name>
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        <title>ABAG FIN AUTH-A-REF</title>
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          <isin value="US00037CWA43"/>
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        <invCountry>US</invCountry>

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          <maturityDt>2025-09-02</maturityDt>
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        <name>Vista Unified School District</name>
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        <name>Southwestern Community College District</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Transbay Joint Powers Authority</name>
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        <name>Folsom Ranch Financing Authority</name>
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        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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        <name>Grossmont-Cuyamaca Community College District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Mizuho Floater/Residual Trust</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Conejo Valley Unified School District</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>Carpinteria Valley Water District</name>
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        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
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        <name>San Francisco City &amp; County Public Utilities Commission Wastewater Revenue</name>
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      <invstOrSec>
        <name>County of Los Angeles CA Community Facilities District No 2021-01</name>
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      <invstOrSec>
        <name>Washington Township Health Care District</name>
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          <isin value="US940642FZ96"/>
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        <name>M-S-R Energy Authority</name>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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        <name>Baldwin Park Unified School District</name>
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        <name>San Juan Unified School District</name>
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        <name>Department of Veterans Affairs Veteran's Farm &amp; Home Purchase Program</name>
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        <name>Grossmont-Cuyamaca Community College District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>City &amp; County of San Francisco CA</name>
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        <name>Deutsche Bank Spears/Lifers Trust</name>
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        <name>South San Francisco Public Facilities Financing Authority</name>
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        <name>Roseville Joint Union High School District</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Carlsbad Unified School District</name>
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        <name>Palomar Health</name>
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          <couponKind>None</couponKind>
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        <name>California Health Facilities Financing Authority</name>
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        <name>City &amp; County of San Francisco CA</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>University of California</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>Poway Unified School District</name>
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        <name>Manteca Unified School District</name>
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        <name>Moreno Valley Unified School District Financing Authority</name>
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        <name>Los Angeles Unified School District/CA</name>
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      <invstOrSec>
        <name>Regents of the University of California Medical Center Pooled Revenue</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Imperial Community College District</name>
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        <name>Manteca Unified School District</name>
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        <name>Alameda Corridor Transportation Authority</name>
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        <name>City of Glendale CA Electric Revenue</name>
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        <name>University of California</name>
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        <name>California School Finance Authority</name>
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          <isin value="US13059TGX19"/>
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        <name>Chula Vista Elementary School District</name>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
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          <maturityDt>2031-08-01</maturityDt>
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      <invstOrSec>
        <name>Roseville Joint Union High School District</name>
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          <isin value="US777857AH65"/>
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      <invstOrSec>
        <name>Los Angeles County Public Works Financing Authority</name>
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          <maturityDt>2036-12-01</maturityDt>
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        <name>Moreno Valley Unified School District/CA</name>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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        <name>Peralta Community College District</name>
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        <name>Tracy Community Facilities District/CA</name>
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        <name>Palomar Health</name>
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        <name>California School Finance Authority</name>
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        <name>San Dieguito Union High School District</name>
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        <name>Tobacco Securitization Authority of Southern California</name>
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        <name>California State Public Works Board</name>
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        <name>River Islands Public Financing Authority</name>
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        <name>Livermore Valley Joint Unified School District/CA</name>
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        <name>University of California</name>
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        <name>Alameda Community Improvement Commission Successor Agency</name>
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        <name>Fresno Unified School District</name>
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        <name>Santa Clara Unified School District</name>
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        <name>Los Angeles Housing Authority</name>
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        <name>California School Finance Authority</name>
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        <name>Richmond Joint Powers Financing Authority</name>
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        <name>Fremont Union High School District</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Long Beach Bond Finance Authority</name>
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          <isin value="US54241AAW36"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-15</maturityDt>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Irvine 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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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>San Diego Unified School District/CA</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>California School Finance Authority</name>
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        <name>Escondido Union High School District</name>
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        <name>Newark Unified School District/CA</name>
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        <name>Tracy Community Development Agency Successor Agency</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California School Finance Authority</name>
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        <name>City of Dixon CA</name>
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      <invstOrSec>
        <name>Tobacco Securitization Authority of Southern California</name>
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          <isin value="US888804CJ86"/>
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        <name>San Mateo Foster City Public Financing Authority</name>
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        <name>Rialto Unified School District</name>
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        <name>City of Dublin CA</name>
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        <name>City of Upland CA</name>
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        <name>California Municipal Finance Authority</name>
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        <name>San Rafael City High School District/CA</name>
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        <name>San Mateo County Community College District</name>
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        <name>Alhambra Unified School District</name>
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        <name>Chino Redevelopment Agency Successor Agency</name>
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        <name>California Municipal Finance Authority</name>
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        <name>City of Vernon CA Electric System Revenue</name>
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        <name>West Hollywood Public Financing Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Long Beach CA Airport System Revenue</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Leandro Unified School District</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac Multifamily ML Certificates</name>
        <lei>N/A</lei>
        <title>FHLMC 2019-ML06-A-CA</title>
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          <isin value="US30312CAE30"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-25</maturityDt>
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      <invstOrSec>
        <name>San Mateo Foster City School District/CA</name>
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          <isin value="US799055TV03"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Los Angeles Department of Water &amp; Power</name>
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          <isin value="US544532GD03"/>
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        <balance>2000000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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      <invstOrSec>
        <name>El Monte Union High School District</name>
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          <isin value="US283353VD96"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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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="US54466HLU85"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
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          <isin value="US13016NEP50"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Los Angeles CA Wastewater System Revenue</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-01</maturityDt>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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        <name>Temple City Unified School District</name>
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        <name>Anaheim Public Financing Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>University of California</name>
        <lei>N/A</lei>
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        <name>San Joaquin Regional Rail Commission</name>
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        <name>Livermore Valley Joint Unified School District/CA</name>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
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      <invstOrSec>
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        <name>San Diego Unified School District/CA</name>
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        <name>Perris Union High School District/CA</name>
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        <name>University of California</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Upper Santa Clara Valley Joint Powers Authority</name>
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        <name>Contra Costa Community College District</name>
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        <name>California Public Finance Authority</name>
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          <isin value="US13057EES90"/>
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        <name>Pomona Unified School District</name>
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        <name>Palm Desert Redevelopment Agency Successor Agency</name>
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        <name>City of Upland CA</name>
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        <name>California State University</name>
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        <name>Freddie Mac Gold Pool</name>
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        <name>California State University</name>
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        <name>Arcadia Unified School District/CA</name>
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        <name>California School Finance Authority</name>
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        <name>Sacramento Area Flood Control Agency</name>
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          <isin value="US785840GU73"/>
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        <name>Rio Hondo Community College District/CA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Commonwealth of Puerto Rico</name>
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      <invstOrSec>
        <name>Clovis Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Palomar Health</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>Capistrano Unified School District Community Facilities District</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>University of California</name>
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        <name>Local Public Schools Funding Authority School Improvement District No 2016-1</name>
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        <name>East Bay Municipal Utility District Water System Revenue</name>
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        <name>Pajaro Valley Unified School District</name>
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        <name>Sacramento City Unified School District/CA</name>
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        <name>Oxnard Union High School District</name>
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        <name>Los Angeles County Public Works Financing Authority</name>
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      <invstOrSec>
        <name>Peralta Community College District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Eastern Municipal Water District</name>
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      <invstOrSec>
        <name>Centinela Valley Union High School District</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Rialto Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US762494SD52"/>
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        <curCd>USD</curCd>
        <valUSD>282041.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US13048T6B48"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Oxnard CA Gas Tax Revenue</name>
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          <isin value="US691885AN74"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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        <cusip>13048T4B6</cusip>
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          <isin value="US13048T4B65"/>
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        <balance>245000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>250233.86000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Norco CA</name>
        <lei>N/A</lei>
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          <isin value="US655534DZ51"/>
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        <balance>805000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington Township Health Care District</name>
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          <isin value="US940204FV74"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CA ST MUNI FIN AUTH</title>
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          <isin value="US13048TW255"/>
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          <maturityDt>2029-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Bay Area Toll Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <title>CALIFORNIA MUNI FIN</title>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>California School Finance Authority</name>
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        <name>Tejon Ranch Public Facilities Finance Authority</name>
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        <name>California Housing Finance Agency</name>
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      <invstOrSec>
        <name>City of Hayward CA</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>California Community College Financing Authority</name>
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        <name>Rio Hondo Community College District/CA</name>
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        <name>City of Clovis CA Sewer Revenue</name>
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        <name>Ocean View School District/Orange County CA</name>
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      <invstOrSec>
        <name>MOUNTAIN HOUSE CMNTY FACS DIST</name>
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        <name>City of Lincoln CA</name>
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        <name>Santa Margarita-Dana Point Authority</name>
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        <name>State of California</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tustin Unified School District</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Riverside Community College District</name>
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        <name>San Joaquin County Transportation Authority Measure K Sales Tax Revenue</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>United Water Conservation District</name>
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        <name>Port of Los Angeles</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Carlsbad Unified School District</name>
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      <invstOrSec>
        <name>Pittsburg Unified School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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      <invstOrSec>
        <name>City of Fontana CA</name>
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          <isin value="US344630YX03"/>
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        <invCountry>US</invCountry>

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          <maturityDt>2033-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>San Diego Unified School District/CA</name>
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          <isin value="US797356LT70"/>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isin value="US940204EQ98"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Val Verde Unified School District</name>
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          <maturityDt>2031-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Sonoma Valley Unified School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>California Municipal Finance Authority</name>
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        <name>Palomar Health</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California State Public Works Board</name>
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        <name>West County Facilities Financing Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Santa Rosa High School District</name>
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        <name>Fullerton Redevelopment Agency Successor Agency</name>
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      <invstOrSec>
        <name>City of Fontana CA</name>
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        <name>California State Public Works Board</name>
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        <name>California Statewide Communities Development Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tulare Local Health Care District</name>
        <lei>N/A</lei>
        <title>TULARE LOCAL HLTH-REF</title>
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          <isin value="US89910NCZ24"/>
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        <curCd>USD</curCd>
        <valUSD>446600.80000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Manteca Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US564538CV64"/>
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        <curCd>USD</curCd>
        <valUSD>3865889.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Alameda Unified School District-Alameda County/CA</name>
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          <isin value="US010824MB30"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <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>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CA HLTH FACS FING  -A</title>
        <cusip>13032URL4</cusip>
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          <isin value="US13032URL43"/>
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        <balance>28320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28983209.09000000</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>2037-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Leandro Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US798458VH51"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Moreno Valley Unified School District Financing Authority</name>
        <lei>N/A</lei>
        <title>MORENO VLY USD FACS</title>
        <cusip>61687LBM6</cusip>
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          <isin value="US61687LBM63"/>
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        <balance>1185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1224247.44000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC Multifamily VRD Certificates</name>
        <lei>N/A</lei>
        <title>FEDERAL HOME LOAN MTG</title>
        <cusip>31350ACU0</cusip>
        <identifiers>
          <isin value="US31350ACU07"/>
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        <balance>13930000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11458617.41000000</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>2035-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.35000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Sacramento CA Transient Occupancy Tax Revenue</name>
        <lei>N/A</lei>
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        <cusip>786073AR7</cusip>
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          <isin value="US786073AR70"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2071381.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Cupertino CA</name>
        <lei>N/A</lei>
        <title>CUPERTINO-A-REF-COPS</title>
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          <isin value="US231210GP44"/>
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        <balance>865000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>908585.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Long Beach Bond Finance Authority</name>
        <lei>549300BKBZ5U7OZH3S21</lei>
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        <cusip>54241AAY9</cusip>
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        <balance>3015000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-15</maturityDt>
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        <name>City of Vernon CA Electric System Revenue</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>State of California</name>
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        <name>Hanford Joint Union High School District</name>
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        <name>San Bernardino Community College District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Washington Township Health Care District</name>
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        <invCountry>US</invCountry>

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        <name>California State University</name>
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        <name>Belmont-Redwood Shores School District/CA</name>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington Township Health Care District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hayward Unified School District</name>
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          <isin value="US421295AX45"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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          <isin value="US13032UXC79"/>
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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>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sanger Unified School District</name>
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          <isin value="US800851UE52"/>
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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>Los Angeles County Facilities Inc</name>
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          <isin value="US54531FAP62"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Southern California Public Power Authority</name>
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          <isin value="US842475R643"/>
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        <curCd>USD</curCd>
        <valUSD>1065933.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Sacramento City Unified School District/CA</name>
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          <isin value="US785870A483"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Housing Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
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          <annualizedRt>3.45000000</annualizedRt>
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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>2031-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>New Haven Unified School District</name>
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        <invCountry>US</invCountry>

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        <name>California School Finance Authority</name>
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        <name>Compton Unified School District/CA</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Carpinteria Valley Water District</name>
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        <name>Southwestern Community College District</name>
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      <invstOrSec>
        <name>Kern High School District</name>
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      <invstOrSec>
        <name>Del Mar Race Track Authority</name>
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          <isin value="US245122BM72"/>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>Saugus Union School District Financing Authority</name>
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          <isin value="US804238AF02"/>
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          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Poway Unified School District</name>
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          <isin value="US738855E682"/>
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        <curCd>USD</curCd>
        <valUSD>192012.82000000</valUSD>
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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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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Tejon Ranch Public Facilities Finance Authority</name>
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          <isin value="US879083FH11"/>
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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>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Rialto Unified School District</name>
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        <title>RIALTO UN SD-COPS</title>
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          <isin value="US762497DA00"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles Department of Water &amp; Power</name>
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          <isin value="US5444954N10"/>
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        <balance>1540000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1577383.81000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Washington Township Health Care District</name>
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          <isin value="US940204EU01"/>
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        <balance>815000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>774146.17000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13078YUX11"/>
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        <curCd>USD</curCd>
        <valUSD>1495434.90000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525M217"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>California Housing Finance Agency</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Pleasant Valley School District/Ventura County</name>
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        <name>Los Angeles Housing Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Los Angeles Unified School District/CA</name>
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      <invstOrSec>
        <name>Western Riverside Water &amp; Wastewater Financing Authority</name>
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          <isin value="US95942TGT88"/>
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        <curCd>USD</curCd>
        <valUSD>300577.50000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>Hayward Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US421294EF28"/>
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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>2042-08-01</maturityDt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13080SA959"/>
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        <curCd>USD</curCd>
        <valUSD>759704.01000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
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          <isin value="US952347UV29"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Western Placer Unified School District</name>
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          <isin value="US959214ED59"/>
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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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      <invstOrSec>
        <name>Los Angeles County Public Works Financing Authority</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
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        <curCd>USD</curCd>
        <valUSD>1011865.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>El Dorado Irrigation District</name>
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        <curCd>USD</curCd>
        <valUSD>1573018.83000000</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>2046-03-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles County Sanitation Districts Financing Authority</name>
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          <isin value="US545149KL90"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-01</maturityDt>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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      <invstOrSec>
        <name>University of California</name>
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        <name>Lake Tahoe Unified School District</name>
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        <name>Sanger Unified School District</name>
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        <name>City of Lincoln CA</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>River Islands Public Financing Authority</name>
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        <name>California State Public Works Board</name>
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      <invstOrSec>
        <name>Contra Costa Transportation Authority Sales Tax Revenue</name>
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        <name>City of Roseville CA</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Metropolitan Water District of Southern California</name>
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        <name>California State Public Works Board</name>
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        <name>Metropolitan Water District of Southern California</name>
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        <name>Riverside County Public Financing Authority</name>
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      <invstOrSec>
        <name>University of California</name>
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        <name>University of California</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California State Public Works Board</name>
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        <name>California Enterprise Development Authority</name>
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        <name>Hartnell Community College District/CA</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
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        <name>City of Vernon CA Electric System Revenue</name>
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        <name>California Educational Facilities Authority</name>
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        <name>Jefferson Union High School District</name>
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        <name>Chico Unified School District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Sulphur Springs Union School District</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>South San Francisco Unified School District</name>
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        <name>San Bernardino City Unified School District</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>San Bernardino Community College District</name>
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        <name>Marin Community College District</name>
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        <name>City of Upland CA</name>
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        <name>California State University</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>City of Riverside CA Sewer Revenue</name>
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        <name>San Pablo Joint Powers Financing Authority</name>
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        <name>Glendale Community College District/CA</name>
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        <name>Suisun City Redevelopment Agency</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Perris Union High School District/CA</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>Tulare Local Health Care District</name>
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        <name>San Bernardino Community College District</name>
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        <name>County of Sacramento CA Airport System Revenue</name>
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      <invstOrSec>
        <name>Chabot-Las Positas Community College District</name>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525ZF80"/>
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      <invstOrSec>
        <name>Pasadena Area Community College District</name>
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          <isin value="US702185GG87"/>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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        <name>East Side Union High School District</name>
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        <name>Fullerton Joint Union High School District</name>
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        <name>State of California</name>
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        <name>University of California</name>
        <lei>N/A</lei>
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        <name>Golden State Tobacco Securitization Corp</name>
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        <name>Roseville Joint Union High School District</name>
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        <name>California Educational Facilities Authority</name>
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        <name>Bay Area Toll Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>San Diego Unified School District/CA</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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      <invstOrSec>
        <name>Freddie Mac Multifamily ML Certificates</name>
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          <isin value="US30309HAA59"/>
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        <fairValLevel>2</fairValLevel>
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        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
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          <isin value="US79770GCV68"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13081CAC29"/>
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        <name>JPMorgan Chase Putters/Drivers Trust</name>
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          <isin value="US46640KE752"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>California Statewide Communities Development Authority</name>
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        <title>CA ST CMNTY DEV-A</title>
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          <isin value="US13080SG998"/>
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        <curCd>USD</curCd>
        <valUSD>709406.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Sacramento CA</name>
        <lei>549300OXI5MD45L13R20</lei>
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          <isin value="US786153RT56"/>
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        <balance>5000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Sacramento CA Transient Occupancy Tax Revenue</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Western Riverside Water &amp; Wastewater Financing Authority</name>
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          <isin value="US95942THA88"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>California School Finance Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Riverside County Infrastructure Financing Authority</name>
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        <name>San Diego County Regional Airport Authority</name>
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        <name>Bay Area Toll Authority</name>
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        <name>Chico Unified School District</name>
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        <name>Ontario Public Financing Authority</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>California State University</name>
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        <name>University of California</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>Modesto High School District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>University of California</name>
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        <name>Tender Option Bond Trust Receipts/Certificates</name>
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        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>CALIFORNIA CO TOBACCO</title>
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          <isin value="US13016NEY67"/>
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        <valUSD>3292213.69000000</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>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
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          <isin value="US130175W731"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Clovis Unified School District</name>
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          <isin value="US189342UR78"/>
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        <curCd>USD</curCd>
        <valUSD>6066995.78000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
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        <identifiers>
          <isin value="US88035PDP09"/>
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        <curCd>USD</curCd>
        <valUSD>2970000.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Antelope Valley Community College District</name>
        <lei>N/A</lei>
        <title>ANTELOPE VLY CCD-REF</title>
        <cusip>03667PKY7</cusip>
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          <isin value="US03667PKY78"/>
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        <balance>865000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>888636.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Francisco Community College District</name>
        <lei>N/A</lei>
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        <cusip>797683JH3</cusip>
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          <isin value="US797683JH31"/>
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        <balance>850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>873840.38000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>CALIFORNIA CO TOBACCO</title>
        <cusip>13016NFJ8</cusip>
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          <isin value="US13016NFJ81"/>
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        <balance>505000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>511190.14000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Napa Valley Unified School District</name>
        <lei>N/A</lei>
        <title>NAPA VY USD-2006-A</title>
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          <isin value="US6303614D29"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1751237.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California State Public Works Board</name>
        <lei>N/A</lei>
        <title>CA ST PUB WKS BRD-REF</title>
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          <isin value="US13068XBY40"/>
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        <curCd>USD</curCd>
        <valUSD>1170747.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>El Camino Community College District Fountation/The</name>
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          <isin value="US282726DW55"/>
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        <balance>2000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525ZS02"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Salinas Union High School District</name>
        <lei>N/A</lei>
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          <isin value="US794896FA32"/>
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        <balance>1000000.00000000</balance>
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        <name>Los Angeles Unified School District/CA</name>
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        <name>Santa Clarita Public Finance Authority</name>
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        <name>Los Angeles Unified School District/CA</name>
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        <name>State of California</name>
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        <name>Temecula Redevelopment Agency Successor Agency</name>
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        <name>Mountain House Public Financing Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Metropolitan Water District of Southern California</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hayward Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US421295AW61"/>
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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>California Municipal Finance Authority</name>
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          <isin value="US13048TW669"/>
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      <invstOrSec>
        <name>San Francisco Unified School District</name>
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          <maturityDt>2039-06-15</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of California</name>
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          <isin value="US13063DPH51"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Hayward CA</name>
        <lei>N/A</lei>
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          <isin value="US421209LL90"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>California County Tobacco Securitization Agency</name>
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          <isin value="US13016NGA63"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Alum Rock Union Elementary School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Fresno Unified School District</name>
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        <name>Foothill-De Anza Community College District</name>
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        <name>Southern California Public Power Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Alameda Unified School District-Alameda County/CA</name>
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        <name>University of California</name>
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        <name>Newport Mesa Unified School District</name>
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        <name>Marin Community College District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California School Finance Authority</name>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
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          <isin value="US13034RAC79"/>
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        <curCd>USD</curCd>
        <valUSD>570840.52000000</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>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Tustin Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US901073GE09"/>
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        <curCd>USD</curCd>
        <valUSD>3922854.27000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Contra Costa County Public Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US21226PPD41"/>
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        <curCd>USD</curCd>
        <valUSD>1767058.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Grossmont-Cuyamaca Community College District</name>
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          <isin value="US399267GP25"/>
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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>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oceanside Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US675383XC21"/>
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        <curCd>USD</curCd>
        <valUSD>2770030.01000000</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>2029-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Modesto High School District</name>
        <lei>N/A</lei>
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        <cusip>607743LA7</cusip>
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          <isin value="US607743LA74"/>
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        <balance>840000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>883551.98000000</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>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Sacramento CA Airport System Revenue</name>
        <lei>N/A</lei>
        <title>SACRAMENTO CNTY CA AR</title>
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          <isin value="US786107SU75"/>
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        <curCd>USD</curCd>
        <valUSD>1945870.95000000</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>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside County Public Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US76912TNW98"/>
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        <balance>1180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1324328.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
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        <cusip>13063CZ78</cusip>
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          <isin value="US13063CZ782"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Fontana CA</name>
        <lei>N/A</lei>
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          <isin value="US344630YT90"/>
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        <balance>270000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Santa Clarita Public Finance Authority</name>
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        <name>Campbell Union School District</name>
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        <name>San Mateo County Community College District</name>
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        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
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        <name>California Educational Facilities Authority</name>
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        <name>Southern California Public Power Authority</name>
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        <name>Poway Unified School District</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>San Bernardino City Unified School District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Anaheim Housing &amp; Public Improvements Authority</name>
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        <name>Burlingame School District</name>
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        <name>State Center Community College District</name>
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        <name>United Water Conservation District</name>
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        <name>State of California</name>
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        <name>San Diego Association of Governments South Bay Expressway Revenue</name>
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        <name>Tobacco Securitization Authority of Southern California</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Montebello Unified School District</name>
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      <invstOrSec>
        <name>New Haven Unified School District</name>
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        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13080SY652"/>
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        <name>Los Angeles Unified School District/CA</name>
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      <invstOrSec>
        <name>Center Joint Unified School District</name>
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          <isin value="US151488CB72"/>
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      <invstOrSec>
        <name>San Joaquin Hills Transportation Corridor Agency</name>
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        <name>Los Angeles Unified School District/CA</name>
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        <name>Richmond Joint Powers Financing Authority</name>
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        <name>State of California</name>
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        <name>N/A</name>
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        <title>US 10yr Ultra Fut Sep25</title>
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        <name>Hayward Unified School District</name>
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        <name>Richmond Joint Powers Financing Authority</name>
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        <name>State of California</name>
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        <name>Tender Option Bond Trust Receipts/Certificates</name>
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        <name>Guam Power Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>San Joaquin Hills Transportation Corridor Agency</name>
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        <name>Bay Area Toll Authority</name>
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        <name>Tender Option Bond Trust Receipts/Certificates</name>
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        <name>Lancaster Redevelopment Agency Successor Agency</name>
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        <name>Mountain View-Whisman School District</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>City of Dublin CA</name>
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        <name>New Haven Unified School District</name>
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        <name>Long Beach Redevelopment Agency Successor Agency</name>
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        <name>City of Sacramento CA Transient Occupancy Tax Revenue</name>
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        <name>University of California</name>
        <lei>N/A</lei>
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          <isin value="US91412GH736"/>
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        <name>Pajaro Valley Unified School District</name>
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        <name>State of California</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Novato Unified School District/CA</name>
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        <name>California Public Finance Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Roseville Finance Authority</name>
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        <name>Los Angeles Unified School District/CA</name>
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      <invstOrSec>
        <name>City of Rancho Cordova CA</name>
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      <invstOrSec>
        <name>Riverside Unified School District</name>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Local Public Schools Funding Authority School Improvement District No 2016-1</name>
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        <name>Los Angeles Housing Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-01</maturityDt>
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          <annualizedRt>3.95000000</annualizedRt>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US13057EDT82"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Manhattan Beach Unified School District</name>
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        <name>Hayward Unified School District</name>
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        <name>Rialto Unified School District</name>
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        <name>City of Vernon CA Electric System Revenue</name>
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        <name>Western Placer Unified School District</name>
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        <name>Garden Grove Public Financing Authority</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>Golden State Tobacco Securitization Corp</name>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Municipal Finance Authority</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>West Contra Costa Unified School District</name>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525P442"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>San Joaquin Hills Transportation Corridor Agency</name>
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        <invCountry>US</invCountry>

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          <couponKind>Fixed</couponKind>
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        <name>City of Los Angeles Department of Airports</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>California Municipal Finance Authority</name>
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          <isin value="US86139QAV77"/>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525XC77"/>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>Rialto Redevelopment Agency</name>
        <lei>N/A</lei>
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          <isin value="US76246PCR73"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Pleasant Valley School District/Ventura County</name>
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          <isin value="US72869BJT26"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Los Angeles County Public Works Financing Authority</name>
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          <isin value="US54473EUR34"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Los Angeles County Public Works Financing Authority</name>
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          <isin value="US54473ETP96"/>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
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          <isin value="US79739GMM59"/>
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        <invCountry>US</invCountry>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Santa Clarita Community College District</name>
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          <isin value="US801686SE71"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Val Verde Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US91882RGH93"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Newark Unified School District/CA</name>
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          <isin value="US650264VW18"/>
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        <name>Orange County Community Facilities District</name>
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        <name>Jefferson Union High School District</name>
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        <name>Kern Community College District</name>
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        <name>Los Angeles Housing Authority</name>
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        <name>California Educational Facilities Authority</name>
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        <name>California School Finance Authority</name>
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        <name>Compton Unified School District/CA</name>
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        <name>Hastings Campus Housing Finance Authority</name>
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        <name>Fairfield-Suisun Unified School District</name>
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        <name>Southern California Public Power Authority</name>
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      <invstOrSec>
        <name>Ravenswood City School District/CA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Escondido Union High School District</name>
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        <name>California Educational Facilities Authority</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>California Housing Finance Agency</name>
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        <name>Clovis Unified School District</name>
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        <name>California Health Facilities Financing Authority</name>
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      <invstOrSec>
        <name>State Center Community College District</name>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Mountain House Public Financing Authority</name>
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          <isin value="US62412PBJ49"/>
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        <name>Riverside County Public Financing Authority</name>
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          <isin value="US76912KCA88"/>
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        <name>City of Oakland CA</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Los Angeles Community College District/CA</name>
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        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California Public Finance Authority</name>
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      <invstOrSec>
        <name>Roseville Joint Union High School District</name>
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      <invstOrSec>
        <name>Rancho Water District Financing Authority</name>
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      <invstOrSec>
        <name>State of California</name>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isin value="US13080SJG03"/>
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          <maturityDt>2030-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US13049YEP25"/>
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          <maturityDt>2030-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Joaquin Hills Transportation Corridor Agency</name>
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          <isin value="US798111GY09"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-01-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>South Orange County Public Financing Authority</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hayward Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US421290Z671"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Stockton Unified School District</name>
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          <isin value="US861419E967"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <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>State of California</name>
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          <isin value="US13063DFY94"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>San Ysidro School District</name>
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        <name>San Jose Evergreen Community College District</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>San Francisco Unified School District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Santa Cruz City High School District</name>
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      <invstOrSec>
        <name>Compton Unified School District/CA</name>
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        <valUSD>405000.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Sacramento City Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US785870A632"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <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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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Marcos Unified School District</name>
        <lei>N/A</lei>
        <title>SAN MARCOS USD-CABS</title>
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          <isin value="US798755BW31"/>
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        <curCd>USD</curCd>
        <valUSD>914946.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Folsom Ranch Financing Authority</name>
        <lei>N/A</lei>
        <title>FOLSOM RANCH FING</title>
        <cusip>344414BD8</cusip>
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          <isin value="US344414BD89"/>
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        <balance>680000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
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          <isin value="US13016NHW74"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Gateway Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US36759RCD70"/>
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        <balance>1745000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Monterey Peninsula Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US612582FJ02"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2910962.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tejon Ranch Public Facilities Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>879083FE8</cusip>
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          <isin value="US879083FE89"/>
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        <balance>1010000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Rancho Cordova CA</name>
        <lei>N/A</lei>
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        <balance>3000000.00000000</balance>
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        <valUSD>2891709.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Sweetwater Union High School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Hayward Unified School District</name>
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        <name>South San Francisco Public Facilities Financing Authority</name>
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        <name>Glendale Community College District/CA</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Los Angeles Unified School District/CA</name>
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        <name>Irvine Unified School District</name>
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        <name>California School Finance Authority</name>
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        <name>Davis Joint Unified School District</name>
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        <name>California Housing Finance Agency</name>
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        <name>California School Finance Authority</name>
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        <name>Fresno Unified School District</name>
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        <name>Los Angeles Unified School District/CA</name>
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        <name>Freddie Mac Multifamily ML Certificates</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>University of California</name>
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        <name>College of the Sequoias Visalia Area Improvement District No 2</name>
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        <name>California Educational Facilities Authority</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>Solano County Community College District</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Southern California Public Power Authority</name>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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          <isin value="US13058TCD00"/>
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        <curCd>USD</curCd>
        <valUSD>530266.27000000</valUSD>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Sacramento CA</name>
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          <isin value="US786071QR41"/>
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        <curCd>USD</curCd>
        <valUSD>645180.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California State Public Works Board</name>
        <lei>N/A</lei>
        <title>CA ST PUB WKS-A</title>
        <cusip>13068XAQ2</cusip>
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          <isin value="US13068XAQ25"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <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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          <isin value="US13049YFB20"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>645878.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Desert Community College District</name>
        <lei>N/A</lei>
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        <cusip>250375MZ2</cusip>
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          <isin value="US250375MZ29"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1920920.80000000</valUSD>
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        <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>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALI STWD CMNTY</title>
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          <isin value="US13080SQX52"/>
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        <balance>63917.12000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44741.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>North Orange County Community College District/CA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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        <name>Redwood City School District</name>
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          <maturityDt>2040-08-01</maturityDt>
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        <name>Mountain House Public Financing Authority</name>
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        <name>Madera Unified School District</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>Imperial Community College District</name>
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        <name>Napa Valley Unified School District</name>
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        <name>Metropolitan Water District of Southern California</name>
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        <name>Solano Irrigation District</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Glendale Community College District/CA</name>
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        <name>Palomar Health</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>University of California</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Northern California Transmission Agency</name>
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        <name>California Educational Facilities Authority</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>California State Public Works Board</name>
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        <name>Rio Elementary School District/CA</name>
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        <name>California Educational Facilities Authority</name>
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        <name>California Municipal Finance Authority</name>
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      <invstOrSec>
        <name>East Bay Municipal Utility District Water System Revenue</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Long Beach Community College District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Riverside Community College District</name>
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          <isin value="US76886PHN69"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
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          <isin value="US13016NGP33"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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          <isin value="US13081CAB46"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13032UNM61"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Temecula Redevelopment Agency Successor Agency</name>
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          <isin value="US87972DBK72"/>
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        <balance>785000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pajaro Valley Unified School District</name>
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          <isin value="US695802QB71"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Guam Power Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Coast Community College District</name>
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        <name>City of Santa Monica CA Water Revenue</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>Mount San Jacinto Community College District</name>
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        <name>Mount San Jacinto Community College District</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>City of Rancho Cordova CA</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>San Diego Unified School District/CA</name>
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      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>City of Santa Monica CA Water Revenue</name>
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        <name>California Municipal Finance Authority</name>
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          <isin value="US13048VS416"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mountain View-Whisman School District</name>
        <lei>N/A</lei>
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          <isin value="US62451FMB30"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>City of Irvine CA</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Abag Finance Authority for Nonprofit Corps</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-02</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Central Valley Energy Authority</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>William S Hart Union High School District</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Fremont Unified School District/Alameda County CA</name>
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        <name>Fremont Public Financing Authority</name>
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        <name>Tracy Community Facilities District/CA</name>
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        <name>Jurupa Public Financing Authority</name>
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        <name>Oakland Unified School District/Alameda County</name>
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        <name>Moreno Valley Unified School District Financing Authority</name>
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        <name>Salinas Union High School District</name>
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        <name>Portola Valley School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mount Diablo Unified School District/CA</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>State of California</name>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Modesto High School District</name>
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          <isin value="US607743KA83"/>
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      <invstOrSec>
        <name>Palomar Health</name>
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          <isin value="US697527AK52"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac Pool</name>
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          <isin value="US3132YATC24"/>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-01</maturityDt>
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      <invstOrSec>
        <name>City of Roseville CA</name>
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          <isin value="US777870M942"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Port of Oakland</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Alvord Unified School District</name>
        <lei>549300Q9J0UCO75DL276</lei>
        <title>ALVORD USD-REF</title>
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          <isin value="US022555WL69"/>
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        <balance>1405000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>River Islands Public Financing Authority</name>
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        <name>Alvord Unified School District</name>
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          <isin value="US022555WF91"/>
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        <name>California Municipal Finance Authority</name>
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        <name>Independent Cities Finance Authority</name>
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        <name>Long Beach Community College District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Pasadena Public Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US702274DL28"/>
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      <invstOrSec>
        <name>South Orange County Public Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US839100KV50"/>
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      <invstOrSec>
        <name>Solano County Community College District</name>
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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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        <cusip>13051AJY5</cusip>
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          <isin value="US13051AJY55"/>
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        <valUSD>372253.81000000</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>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Irvine Unified School District</name>
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          <isin value="US463612JS17"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-01</maturityDt>
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        <name>City &amp; County San Francisco CA Infrastructure &amp; Revitalization Fing Dist 1 Facs</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Irvine CA</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-02</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northern California Energy Authority</name>
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          <isin value="US664840AL93"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</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>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles County Public Works Financing Authority</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Long Beach Community College District</name>
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        <name>Western Riverside Water &amp; Wastewater Financing Authority</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>California State University</name>
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        <name>Mountain View Los Altos Union High School District/CA</name>
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        <name>Oak Grove School District</name>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
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        <name>Novato Unified School District/CA</name>
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        <name>California State Public Works Board</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>City of Santa Rosa CA Wastewater Revenue</name>
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        <name>City of Berkeley CA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Sacramento CA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Carpinteria Valley Water District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>New Haven Unified School District</name>
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        <name>Benicia Unified School District</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Romoland School District</name>
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        <name>Corona-Norco Unified School District</name>
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      <invstOrSec>
        <name>Commerce Community Development Commission Successor Agency</name>
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        <name>California School Finance Authority</name>
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        <name>Tobacco Securitization Authority of Northern California</name>
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        <name>California Statewide Communities Development Authority</name>
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      <invstOrSec>
        <name>California State Public Works Board</name>
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        <name>Rialto Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>San Rafael City Elementary School District</name>
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        <name>Hollister Redevelopment Agency Successor Agency</name>
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        <name>Poway Unified School District</name>
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        <name>State of California</name>
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        <name>Golden State Tobacco Securitization Corp</name>
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        <name>San Bernardino City Unified School District</name>
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        <name>County of Sacramento CA Airport System Revenue</name>
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        <name>Stockton Public Financing Authority</name>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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      <invstOrSec>
        <name>Mount Diablo Unified School District/CA</name>
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      <invstOrSec>
        <name>Manteca Unified School District</name>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Hayward CA</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>1075838.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Joaquin County Transportation Authority Measure K Sales Tax Revenue</name>
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          <isin value="US798110CH39"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>North Orange County Community College District/CA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Ysidro School District</name>
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          <maturityDt>2040-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Oak Grove School District</name>
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        <name>Mount Diablo Unified School District/CA</name>
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        <name>University of California</name>
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        <name>Los Angeles Unified School District/CA</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Territory of Guam</name>
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        <name>Roseville Joint Union High School District</name>
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        <name>University of California</name>
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        <name>Palomar Health</name>
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        <name>Washington Township Health Care District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>County of Sacramento CA Airport System Revenue</name>
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        <name>Chaffey Joint Union High School District</name>
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        <name>Monterey Park Financing Authority</name>
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        <name>San Mateo Joint Powers Financing Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Chaffey Joint Union High School District</name>
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        <name>Contra Costa Transportation Authority Sales Tax Revenue</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Kaweah Delta Health Care District Guild</name>
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        <name>Livermore Valley Joint Unified School District/CA</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Riverside County Public Financing Authority</name>
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        <name>City of Los Angeles CA Wastewater System Revenue</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>City of Vallejo CA Water Revenue</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>California State Public Works Board</name>
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        <name>Jefferson Union High School District</name>
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        <name>Marin Community College District</name>
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      <invstOrSec>
        <name>Palomar Health</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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        <name>Roseville Finance Authority</name>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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          <isin value="US130179TL87"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Palomar Health</name>
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          <isin value="US697527AP40"/>
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          <maturityDt>2030-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Palo Alto CA</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12500000</annualizedRt>
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      <invstOrSec>
        <name>El Rancho Unified School District</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Elk Grove Finance Authority</name>
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        <name>Mountain House Public Financing Authority</name>
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        <name>Los Angeles Unified School District/CA</name>
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        <name>Bay Area Toll Authority</name>
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        <name>Tobacco Securitization Authority of Southern California</name>
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        <name>Long Beach Redevelopment Agency Successor Agency</name>
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        <name>New Haven Unified School District</name>
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        <name>Los Angeles County Public Works Financing Authority</name>
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        <name>California State Public Works Board</name>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Val Verde Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Roseville Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Joaquin County Transportation Authority Measure K Sales Tax Revenue</name>
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        <name>Corona-Norco Unified School District</name>
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      <invstOrSec>
        <name>South Bayside Waste Management Authority</name>
        <lei>N/A</lei>
        <title>S BAYSIDE WST-PREREFD</title>
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          <isin value="US83646ABN28"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>San Francisco City &amp; County Public Utilities Commission Power Revenue</name>
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          <isin value="US79771KBQ85"/>
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        <curCd>USD</curCd>
        <valUSD>1216479.94000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Long Beach Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US542433HA82"/>
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        <curCd>USD</curCd>
        <valUSD>3925097.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Manteca Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
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          <isin value="US56453RAL87"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
        <lei>N/A</lei>
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        <cusip>797355N59</cusip>
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          <isin value="US797355N591"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>447774.90000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy</name>
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        <title>LA CO REDEV AUTH-A</title>
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          <isin value="US54465AGD81"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>130497AV2</cusip>
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          <isin value="US130497AV24"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1548518.85000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chino Valley Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US169583JK88"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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        <cusip>13048TN74</cusip>
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          <isin value="US13048TN742"/>
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        <curCd>USD</curCd>
        <valUSD>1613229.76000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sacramento Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
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        <balance>3125000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hacienda La Puente Unified School District/CA</name>
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      <invstOrSec>
        <name>Newport Mesa Unified School District</name>
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        <name>Southern California Public Power Authority</name>
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        <name>Stockton Unified School District</name>
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        <name>Fresno Joint Powers Financing Authority</name>
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        <name>San Dieguito School Facilities Financing Authority</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Santa Ana College Improvement District #1 Rancho Santiago Community College Dist</name>
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        <name>University of California</name>
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        <name>Tobacco Securitization Authority of Southern California</name>
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        <name>University of California</name>
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        <name>Lodi Public Financing Authority</name>
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        <name>Mount Diablo Unified School District/CA</name>
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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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        <name>Chino Valley Unified School District</name>
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        <name>Fremont Unified School District/Alameda County CA</name>
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        <name>Los Angeles County Public Works Financing Authority</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>Davis Joint Unified School District</name>
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        <name>Mount Diablo Unified School District/CA</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>San Diego County Water Authority</name>
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        <name>Jurupa Public Financing Authority</name>
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      <invstOrSec>
        <name>Centinela Valley Union High School District</name>
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      <invstOrSec>
        <name>San Diego Association of Governments South Bay Expressway Revenue</name>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525WR55"/>
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          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US544647AJ96"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Luis Obispo County Community College District</name>
        <lei>N/A</lei>
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          <isin value="US798684GE00"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Clovis CA Sewer Revenue</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fresno Unified School District</name>
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          <isin value="US358233CV44"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
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      <invstOrSec>
        <name>Local Public Schools Funding Authority School Improvement District No 2016-1</name>
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          <isin value="US53957RCM25"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Oakland CA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Porterville CA Water Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Burlingame School District</name>
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        <name>Liberty Union High School District</name>
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        <name>California School Finance Authority</name>
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        <name>Stockton Unified School District</name>
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        <name>Palomar Health</name>
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          <maturityDt>2035-08-01</maturityDt>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Madera Unified School District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California School Finance Authority</name>
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        <name>Folsom Ranch Financing Authority</name>
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        <name>Hope Elementary School District</name>
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        <name>University of California</name>
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        <name>Los Rios Community College District</name>
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        <name>Paramount Unified School District</name>
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        <name>Tobacco Securitization Authority of Northern California</name>
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          <isin value="US888794BT04"/>
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        <name>Los Angeles Unified School District/CA</name>
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          <isin value="US544525S909"/>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Wiseburn School District</name>
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        <name>Mizuho Floater/Residual Trust</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>University of California</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>Modesto High School District</name>
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        <name>California State University</name>
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        <name>California State Public Works Board</name>
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        <name>San Bernardino City Unified School District</name>
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        <name>California State University</name>
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        <name>Redondo Beach Unified School District</name>
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        <name>Pomona Unified School District</name>
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        <name>California School Finance Authority</name>
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        <name>Alameda Unified School District-Alameda County/CA</name>
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        <name>Simi Valley Unified School District</name>
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        <name>Sunnyvale Financing Authority</name>
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        <name>Marin Community College District</name>
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        <name>Tobacco Securitization Authority of Northern California</name>
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        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
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        <name>City of Vernon CA Electric System Revenue</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Local Public Schools Funding Authority School Improvement District No 2016-1</name>
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        <name>University of California</name>
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        <name>Menifee Union School District</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>MOUNTAIN HOUSE CMNTY FACS DIST</name>
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        <name>Burlingame School District</name>
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        <name>Sacramento City Unified School District/CA</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Rancho Cordova CA</name>
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      <invstOrSec>
        <name>Port of Los Angeles</name>
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        <invCountry>US</invCountry>

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          <maturityDt>2044-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Benicia Unified School District</name>
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        <curCd>USD</curCd>
        <valUSD>1872897.78000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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        <curCd>USD</curCd>
        <valUSD>820500.56000000</valUSD>
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        <invCountry>US</invCountry>

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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hayward Unified School District</name>
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          <isin value="US421290Z754"/>
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        <curCd>USD</curCd>
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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>2034-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>LA DEPT ARPTS-A-REF</title>
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          <isin value="US544445PP87"/>
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        <balance>8425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8878519.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fresno Unified School District</name>
        <lei>549300WL4QIP65TFU882</lei>
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          <isin value="US3582326G68"/>
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        <balance>685000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>635209.68000000</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>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
        <lei>N/A</lei>
        <title>SAN DIEGO USD-UNREF</title>
        <cusip>797356MB5</cusip>
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          <isin value="US797356MB53"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>847659.60000000</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>2030-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
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          <isin value="US130179GK42"/>
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        <valUSD>110316.29000000</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>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Vallejo CA Water Revenue</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>257519.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Community College District/CA</name>
        <lei>N/A</lei>
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          <isin value="US54438CXJ60"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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          <maturityDt>2034-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Poway Public Financing Authority</name>
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          <isin value="US738773BM11"/>
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        <assetCat>DBT</assetCat>
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        <name>Fremont Union High School District</name>
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          <isin value="US357172M693"/>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>Coast Community College District</name>
        <lei>N/A</lei>
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          <isin value="US190335GV51"/>
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      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
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      <invstOrSec>
        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <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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      <invstOrSec>
        <name>Sacramento City Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US785870E691"/>
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      <invstOrSec>
        <name>Fresno Joint Powers Financing Authority</name>
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        <name>Inglewood Redevelopment Agency Successor Agency</name>
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          <isin value="US34637QAM42"/>
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        <name>City of Roseville CA</name>
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          <isin value="US777870N510"/>
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        <name>Tobacco Securitization Authority of Northern California</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Housing Finance Agency</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California Educational Facilities Authority</name>
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        <name>University of California</name>
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        <name>Riverside Public Financing Authority</name>
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        <name>University of California</name>
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        <name>California School Finance Authority</name>
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      <invstOrSec>
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      <invstOrSec>
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        <name>San Diego County Regional Airport Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Contra Costa Water District</name>
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        <name>Long Beach Bond Finance Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>California Statewide Communities Development Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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        <name>Ukiah Unified School District/CA</name>
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        <name>San Francisco Community College District</name>
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        <name>Tejon Ranch Public Facilities Finance Authority</name>
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          <isin value="US879083FD07"/>
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        <name>California Municipal Finance Authority</name>
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        <name>State of California</name>
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        <name>Marin Municipal Water District</name>
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        <name>City of Vernon CA Electric System Revenue</name>
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        <name>Southern California Public Power Authority</name>
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        <name>University of California</name>
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        <name>Western Riverside Water &amp; Wastewater Financing Authority</name>
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        <name>California Enterprise Development Authority</name>
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        <name>Moreno Valley Unified School District Financing Authority</name>
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        <name>San Ysidro School District</name>
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      <invstOrSec>
        <name>Elk Grove Unified School District</name>
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          <maturityDt>2040-08-01</maturityDt>
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          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
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          <isin value="US952347RS37"/>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Long Beach Community College District</name>
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          <isin value="US542411MG51"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

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          <maturityDt>2034-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>San Marcos Unified School District</name>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Sweetwater Union High School District</name>
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        <curCd>USD</curCd>
        <valUSD>454658.20000000</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>2025-08-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US13048T4K64"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Municipal Finance Authority</name>
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        <name>City &amp; County of San Francisco CA Special Tax District No 2020-1</name>
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        <name>Bay Area Toll Authority</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>City &amp; County of San Francisco CA</name>
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        <name>Glendale Community College District/CA</name>
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        <name>San Francisco Unified School District</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>Riverside County Asset Leasing Corp</name>
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        <name>Palomar Health</name>
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        <name>State of California</name>
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        <name>Portola Valley School District</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>State of California</name>
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          <isin value="US13063DLG15"/>
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          <maturityDt>2030-04-01</maturityDt>
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        <name>Huntington Beach Union High School District</name>
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        <name>Stockton Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
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        <name>City of Irvine CA</name>
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        <name>Jefferson Union High School District</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>State of California</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Liberty Union High School District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <lei>N/A</lei>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>City of Roseville CA</name>
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          <isin value="US7778702B18"/>
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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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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Beverly Hills Unified School District CA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Bernardino Community College District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Mateo Union High School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525F450"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-01</maturityDt>
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      <invstOrSec>
        <name>City of Modesto CA</name>
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          <isin value="US607800BY45"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mountain House Public Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US62412PBA30"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Los Angeles Department of Water &amp; Power</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City &amp; County of San Francisco CA Community Facilities District No 2014-1</name>
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        <name>California State University</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>California School Finance Authority</name>
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        <name>City of San Francisco CA Public Utilities Commission Water Revenue</name>
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        <name>Corona-Norco Unified School District</name>
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        <name>California Municipal Finance Authority</name>
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      <invstOrSec>
        <name>California State University</name>
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      <invstOrSec>
        <name>Santa Clarita Community College District</name>
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        <name>Abag Finance Authority for Nonprofit Corps</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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      <invstOrSec>
        <name>Hayward Redevelopment Agency Successor Agency</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Modesto High School District</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-01</maturityDt>
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        <name>California Community Choice Financing Authority</name>
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        <name>Clovis Unified School District</name>
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        <name>University of California</name>
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        <name>San Diego Community College District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Stockton Unified School District</name>
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        <name>San Ysidro School District</name>
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        <name>Poway Unified School District</name>
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        <name>Montebello Unified School District</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>San Mateo Foster City Public Financing Authority</name>
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        <name>Stockton Unified School District</name>
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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>San Diego Public Facilities Financing Authority</name>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>California Municipal Finance Authority</name>
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        <name>Washington Township Health Care District</name>
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      <invstOrSec>
        <name>El Rancho Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hope Elementary School District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>West Hollywood Public Financing Authority</name>
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        <name>Romoland School District</name>
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        <name>California School Finance Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Saugus Union School District Financing Authority</name>
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        <name>Pittsburg Successor Agency Redevelopment Agency</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Mizuho Floater/Residual Trust</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>California Statewide Communities Development Authority</name>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
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        <name>Liberty Union High School District</name>
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      <invstOrSec>
        <name>Chino Community Facilities District</name>
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        <name>City of Roseville CA</name>
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        <name>California Statewide Communities Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Health Facilities Financing Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Stockton Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>San Bernardino Community College District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Diego Unified School District/CA</name>
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        <name>State of California</name>
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        <name>Palomar Health</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Educational Facilities Authority</name>
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        <name>Guam Power Authority</name>
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        <name>Hayward Unified School District</name>
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        <name>Murrieta Valley Unified School District</name>
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        <name>Los Angeles County Public Works Financing Authority</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>Stockton Unified School District</name>
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        <name>San Joaquin Regional Rail Commission</name>
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        <name>Rancho Santiago Community College District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>United Water Conservation District</name>
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        <name>Transbay Joint Powers Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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      <invstOrSec>
        <name>Lancaster Redevelopment Agency Successor Agency</name>
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        <name>Rialto Unified School District</name>
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        <name>California Enterprise Development Authority</name>
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          <isin value="US399223EA01"/>
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        <name>Los Angeles Department of Water &amp; Power</name>
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          <isin value="US544532NS98"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Foothill-De Anza Community College District</name>
        <lei>N/A</lei>
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          <isin value="US345102JB46"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>State of California</name>
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        <name>East Bay Municipal Utility District Water System Revenue</name>
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        <name>Clovis Unified School District</name>
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        <name>Anaheim Public Financing Authority</name>
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        <name>California Public Finance Authority</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Mountain House Public Financing Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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      <invstOrSec>
        <name>Fairfield-Suisun Unified School District</name>
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          <isin value="US304747JH22"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
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          <isin value="US91412HAT05"/>
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        <curCd>USD</curCd>
        <valUSD>1590949.54000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Foster City CA</name>
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          <isin value="US35005RAN17"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>474851.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
        <lei>N/A</lei>
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          <isin value="US54466HFT86"/>
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        <balance>21145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21746361.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
        <title>UNIV OF CALIFORNIA-BH</title>
        <cusip>91412HJD6</cusip>
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          <isin value="US91412HJD61"/>
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        <balance>1725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1682043.36000000</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>2040-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Center Joint Unified School District</name>
        <lei>N/A</lei>
        <title>CENTER JT UNIF SD-B</title>
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          <isin value="US151488CD39"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>499641.24000000</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>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>South Bayside Waste Management Authority</name>
        <lei>N/A</lei>
        <title>S BAYSIDE WST-PREREFD</title>
        <cusip>83646ABP7</cusip>
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          <isin value="US83646ABP75"/>
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        <curCd>USD</curCd>
        <valUSD>32291.10000000</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>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Western Riverside Water &amp; Wastewater Financing Authority</name>
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          <isin value="US95942THJ97"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Poway Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US738855H321"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Palomar Health</name>
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          <isin value="US697527AW90"/>
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          <maturityDt>2029-08-01</maturityDt>
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      <invstOrSec>
        <name>Grossmont Union High School District</name>
        <lei>N/A</lei>
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        <name>Carpinteria Valley Water District</name>
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        <name>Oxnard School District</name>
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        <name>East Side Union High School District</name>
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        <name>Commonwealth of Puerto Rico</name>
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        <name>San Jacinto Community Facilities District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>University of California</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Paramount Unified School District</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <lei>N/A</lei>
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      <invstOrSec>
        <name>Southern California Public Power Authority</name>
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          <isin value="US842469CC03"/>
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      <invstOrSec>
        <name>North Orange County Community College District/CA</name>
        <lei>N/A</lei>
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          <maturityDt>2039-08-01</maturityDt>
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        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13032UF864"/>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
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        <name>Richmond Joint Powers Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Statewide Communities Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California State Public Works Board</name>
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        <name>California State Public Works Board</name>
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        <name>Contra Costa Community College District</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Poway Unified School District Public Financing Authority</name>
        <lei>N/A</lei>
        <title>POWAY USD PUB FIN-B</title>
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          <isin value="US73885QGV59"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cathedral City Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
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          <isin value="US14916YCN76"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Poway Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US738855J228"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063DF86</cusip>
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          <isin value="US13063DF865"/>
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        <curCd>USD</curCd>
        <valUSD>6117210.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tejon Ranch Public Facilities Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US879083FM06"/>
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        <balance>4250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4421346.83000000</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>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Chino Valley Unified School District</name>
        <lei>N/A</lei>
        <title>CHINO VLY UNIF SD-C</title>
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          <isin value="US169583JG76"/>
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        <balance>935000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Irvine Unified School District</name>
        <lei>549300BNIP4XNVC0X742</lei>
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          <isin value="US463612MP31"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>370968.22000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Romoland School District</name>
        <lei>N/A</lei>
        <title>ROMOLAND SCH DT-A</title>
        <cusip>776192RY4</cusip>
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          <isin value="US776192RY46"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ukiah Unified School District/CA</name>
        <lei>N/A</lei>
        <title>UKIAH UNIF SD -A</title>
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          <isin value="US903698ED60"/>
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        <balance>1330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1382612.14000000</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>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles County Facilities Inc</name>
        <lei>N/A</lei>
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          <isin value="US54531FAQ46"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>San Francisco City &amp; County Public Utilities Commission Wastewater Revenue</name>
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          <isin value="US79768HFG83"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of California</name>
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          <isin value="US13063DY932"/>
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        <name>Anaheim Public Financing Authority</name>
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        <name>Freddie Mac Multifamily ML Certificates</name>
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        <title>FRETE 2023-ML16 ACA</title>
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          <isin value="US3137HAA973"/>
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        <name>San Ramon Valley Fire Protection District</name>
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        <name>State of California</name>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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          <isin value="US130179HZ02"/>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>City of Vernon CA Electric System Revenue</name>
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        <name>Antelope Valley Community College District</name>
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      <invstOrSec>
        <name>Paramount Unified School District</name>
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      <invstOrSec>
        <name>Fairfield-Suisun Unified School District</name>
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          <isin value="US304747JE90"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

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          <maturityDt>2034-08-01</maturityDt>
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        <name>San Diego County Regional Airport Authority</name>
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        <name>Anaheim Public Financing Authority</name>
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          <isin value="US03255LHM46"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Washington Township Health Care District</name>
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        <name>Western Placer Waste Management Authority</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>San Ramon Valley Fire Protection District</name>
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        <name>Riverside Public Financing Authority</name>
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        <name>California Housing Finance Agency</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>San Francisco City &amp; County Public Utilities Commission Wastewater Revenue</name>
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        <name>United Water Conservation District</name>
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        <name>Oxnard Union High School District</name>
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        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Riverside CA Electric Revenue</name>
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        <name>San Gabriel Unified School District</name>
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        <name>State of California</name>
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        <name>State of California</name>
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        <name>Abag Finance Authority for Nonprofit Corps</name>
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        <name>Ross Valley School District/CA</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>Southern California Public Power Authority</name>
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      <invstOrSec>
        <name>Municipal Improvement Corp of Los Angeles</name>
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      <invstOrSec>
        <name>Territory of Guam</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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      <invstOrSec>
        <name>Burlingame School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-01</maturityDt>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13032UWA23"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside Public Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US76926CBT09"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside Unified School District</name>
        <lei>N/A</lei>
        <title>RIVERSIDE UNIF SD-B</title>
        <cusip>769059ZT6</cusip>
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          <isin value="US769059ZT65"/>
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        <balance>2310000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Francisco Bay Area Rapid Transit District Sales Tax Revenue</name>
        <lei>N/A</lei>
        <title>SAN FRANCISCO BAY</title>
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          <isin value="US797669ZF80"/>
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        <balance>2240000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Hayward CA Sewer Revenue</name>
        <lei>N/A</lei>
        <title>HAYWARD</title>
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        <balance>4385000.00000000</balance>
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        <curCd>USD</curCd>
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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>2043-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Community College District/CA</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CMNTY CLG</title>
        <cusip>54438CC42</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside Unified School District</name>
        <lei>N/A</lei>
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        <name>State of California</name>
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        <name>Compton Unified School District/CA</name>
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      <invstOrSec>
        <name>Ontario Public Financing Authority</name>
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        <name>Fresno Unified School District</name>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CA MUNI FIN AUTH-A</title>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>San Francisco City &amp; County Public Utilities Commission Wastewater Revenue</name>
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        <balance>495000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>San Joaquin County Transportation Authority Measure K Sales Tax Revenue</name>
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        <name>Stockton Public Financing Authority</name>
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        <name>Anaheim City School District/CA</name>
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        <name>Newark Unified School District/CA</name>
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        <name>California State University</name>
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        <name>Golden State Tobacco Securitization Corp</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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      <invstOrSec>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Riverside County Transportation Commission</name>
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      <invstOrSec>
        <name>City of Redding CA Electric System Revenue</name>
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          <isin value="US75728TAJ88"/>
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        <issuerCat>MUN</issuerCat>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Palomar Community College District</name>
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          <isin value="US697511EW94"/>
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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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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          <isin value="US54466HFB78"/>
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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>Guam Power Authority</name>
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          <isin value="US400653JL65"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Riverside CA Water Revenue</name>
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        <curCd>USD</curCd>
        <valUSD>1334827.13000000</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>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Norco Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US65552PBG37"/>
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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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        <name>Riverside County Public Financing Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Local Public Schools Funding Authority School Improvement District No 2016-1</name>
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          <isin value="US53957RCJ95"/>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>City of Rancho Cordova CA</name>
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        <name>Hartnell Community College District/CA</name>
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        <name>Anaheim Housing &amp; Public Improvements Authority</name>
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      <invstOrSec>
        <name>Norwalk-La Mirada Unified School District</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Moreno Valley Unified School District Financing Authority</name>
        <lei>N/A</lei>
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        <cusip>61687LCN3</cusip>
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          <isin value="US61687LCN38"/>
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        <invCountry>US</invCountry>

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        <name>San Ramon Valley Fire Protection District</name>
        <lei>N/A</lei>
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          <isin value="US799400DN37"/>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
        <lei>N/A</lei>
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          <isin value="US544525WC86"/>
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        <invCountry>US</invCountry>

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          <maturityDt>2034-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Western Riverside Water &amp; Wastewater Financing Authority</name>
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          <isin value="US95942TGV35"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Antelope Valley Community College District</name>
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          <isin value="US03667PLM22"/>
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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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13033LS658"/>
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      <invstOrSec>
        <name>Santa Clarita Community College District</name>
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          <isin value="US801686RY45"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US544647KT68"/>
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        <curCd>USD</curCd>
        <valUSD>5275224.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <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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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Port of Los Angeles</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Local Public Schools Funding Authority School Improvement District No 2016-1</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>State of California</name>
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        <name>Local Public Schools Funding Authority School Improvement District No 2016-1</name>
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        <name>Hayward Unified School District</name>
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        <name>State of California</name>
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      <invstOrSec>
        <name>Tustin Unified School District</name>
        <lei>N/A</lei>
        <title>TUSTIN USD-A-REF</title>
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          <isin value="US901073GH30"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US13051AFW36"/>
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        <curCd>USD</curCd>
        <valUSD>2147733.52000000</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>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
        <title>CALIFORNIA CO TOBACCO</title>
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          <isin value="US13016NGR98"/>
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        <curCd>USD</curCd>
        <valUSD>1184296.57000000</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>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US13048T5Z25"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Leandro Unified School District</name>
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          <isin value="US798458UF05"/>
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          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
        <lei>N/A</lei>
        <title>W CONTRA COSTA CA UNI</title>
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          <isin value="US9523472Z40"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>ABC Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US000416V795"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST</title>
        <cusip>13063DP36</cusip>
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          <isin value="US13063DP369"/>
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        <balance>765000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>856763.36000000</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>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Municipal Improvement Corp of Los Angeles</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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          <isin value="US13034AU408"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tustin Unified School District</name>
        <lei>N/A</lei>
        <title>TUSTIN USD-A-REF</title>
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          <isin value="US901073GD26"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Guam Power Authority</name>
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        <invCountry>US</invCountry>

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        <name>California State Public Works Board</name>
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        <name>Carlsbad Unified School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Beverly Hills Unified School District CA</name>
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        <balance>2200000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Suisun City Redevelopment Agency</name>
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        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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        <name>Western Municipal Water District Facilities Authority</name>
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        <name>San Francisco City &amp; County Public Utilities Commission Wastewater Revenue</name>
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        <name>Antelope Valley Community College District</name>
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          <maturityDt>2030-08-01</maturityDt>
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      <invstOrSec>
        <name>Coachella Valley Water District</name>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13033L3X36"/>
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        <name>Mountain View-Whisman School District</name>
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          <maturityDt>2040-09-01</maturityDt>
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        <name>Fresno Unified School District</name>
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        <name>State of California</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>Fresno Unified School District</name>
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        <name>State of California</name>
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        <name>California Municipal Finance Authority</name>
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      <invstOrSec>
        <name>Oakland Unified School District/Alameda County</name>
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        <name>Placer Union High School District/CA</name>
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        <invCountry>US</invCountry>

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        <name>Antelope Valley Community College District</name>
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        <name>Moreno Valley Unified School District Financing Authority</name>
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          <isin value="US61687LBZ76"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Alameda Corridor Transportation Authority</name>
        <lei>N/A</lei>
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          <isin value="US010869HA67"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Coachella Valley Unified School District/CA</name>
        <lei>N/A</lei>
        <title>COACHELLA VY USD CAB</title>
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          <isin value="US189849FP28"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CA MUNI FIN AUTH-REF</title>
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        <name>Palomar Health</name>
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        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Los Angeles County Public Works Financing Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California State University</name>
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        <name>PARADISE CA UNIF SCH DIST COPS</name>
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        <name>Corona-Norco Unified School District</name>
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        <name>University of California</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Los Angeles County Public Works Financing Authority</name>
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        <name>State of California</name>
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        <name>Liberty Union High School District</name>
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        <name>Poway Unified School District Public Financing Authority</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Chaffey Joint Union High School District</name>
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        <name>Oceanside Unified School District/CA</name>
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        <name>State of California</name>
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        <name>City of Riverside CA Electric Revenue</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>City of Vallejo CA Water Revenue</name>
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        <name>Glendale Community College District/CA</name>
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        <name>Irvine Unified School District</name>
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        <name>River Islands Public Financing Authority</name>
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        <name>California State Public Works Board</name>
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        <name>Transbay Joint Powers Authority</name>
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        <name>Port of Oakland</name>
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        <name>Poway Unified School District</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Jefferson Union High School District</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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      <invstOrSec>
        <name>San Francisco Community College District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PARADISE CA UNIF SCH DIST COPS</name>
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          <isin value="US699042BS55"/>
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          <maturityDt>2036-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Chino Valley Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US169583JD46"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Pittsburg Successor Agency Redevelopment Agency</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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      <invstOrSec>
        <name>Hayward Unified School District</name>
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          <isin value="US4212906T98"/>
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        <balance>995000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Sacramento Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
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          <isin value="US786005J908"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles Department of Water &amp; Power</name>
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          <isin value="US544532KQ69"/>
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        <valUSD>11824114.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Washington Township Health Care District</name>
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        <name>Inglewood Unified School District</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>State of California</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Santa Cruz County Capital Financing Authority</name>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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          <isin value="US13049YFC03"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Compton Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US204738AV00"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
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          <isin value="US91412HMB68"/>
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        <valUSD>3179307.60000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-15</maturityDt>
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      <invstOrSec>
        <name>Foothill-De Anza Community College District</name>
        <lei>N/A</lei>
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          <isin value="US345102NN38"/>
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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>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST SCH FIN</title>
        <cusip>13059RBJ1</cusip>
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          <isin value="US13059RBJ14"/>
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        <curCd>USD</curCd>
        <valUSD>161712.94000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Fairfield CA</name>
        <lei>N/A</lei>
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          <isin value="US304198FZ28"/>
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        <balance>3345000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2511598.27000000</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>2033-04-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Sacramento CA Transient Occupancy Tax Revenue</name>
        <lei>N/A</lei>
        <title>SACRAMENTO TRANS-C</title>
        <cusip>786073BL9</cusip>
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          <isin value="US786073BL91"/>
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        <balance>1520000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
        <lei>N/A</lei>
        <title>LA DEPT OF WTR-A-REF</title>
        <cusip>544525VY1</cusip>
        <identifiers>
          <isin value="US544525VY16"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>107073.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Palomar Health</name>
        <lei>N/A</lei>
        <title>PALOMAR POMERADO HEALTH CALIF ELECTION 2004 GO BDS 2010A</title>
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          <isin value="US69753RDB78"/>
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        <balance>2725000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525WX24"/>
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        <balance>580000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alvord Unified School District</name>
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        <title>ALVORD USD-REF</title>
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          <isin value="US022555WK86"/>
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      <invstOrSec>
        <name>Lammersville Joint Unified School District</name>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>Moreland School District</name>
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        <name>Santa Rosa Elementary School District</name>
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        <name>Ontario Public Financing Authority</name>
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        <name>City of Sacramento CA Transient Occupancy Tax Revenue</name>
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        <name>California School Finance Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Peninsula Corridor Joint Powers Board/CA</name>
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        <name>Poway Public Financing Authority</name>
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        <name>University of California</name>
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        <name>California School Finance Authority</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>Compton Unified School District/CA</name>
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        <name>California Statewide Communities Development Authority</name>
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      <invstOrSec>
        <name>Pasadena Public Financing Authority</name>
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          <maturityDt>2042-06-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Independent Cities Finance Authority</name>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Hayward Unified School District</name>
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        <name>Bay Area Toll Authority</name>
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        <name>Washington Township Health Care District</name>
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        <name>Clovis Unified School District</name>
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        <name>San Diego Unified School District/CA</name>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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      <invstOrSec>
        <name>University of California</name>
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      <invstOrSec>
        <name>California State Public Works Board</name>
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      <invstOrSec>
        <name>Poway Unified School District</name>
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        <name>California County Tobacco Securitization Agency</name>
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          <isin value="US13016NGW83"/>
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        <name>Imperial Community College District</name>
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          <isin value="US452641HV87"/>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13081KAU43"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Menifee Union School District</name>
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          <isin value="US586807JF72"/>
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        <name>Riverside County Transportation Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Statewide Communities Development Authority</name>
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        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
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        <name>Suisun City Redevelopment Agency</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Sacramento City Unified School District/CA</name>
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        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>City of San Francisco CA Public Utilities Commission Water Revenue</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Richmond CA Wastewater Revenue</name>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Irvine Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Moreno Valley Unified School District/CA</name>
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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>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Tobacco Securitization Authority of Northern California</name>
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          <isin value="US888794BR48"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Compton Unified School District/CA</name>
        <lei>N/A</lei>
        <title>COMPTON USD-A-COPS</title>
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        <identifiers>
          <isin value="US204738AU27"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>484089.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>El Camino Community College District Fountation/The</name>
        <lei>N/A</lei>
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          <isin value="US282726JV19"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Alameda Community Improvement Commission Successor Agency</name>
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          <isin value="US010775AC81"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ontario Public Financing Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <maturityDt>2031-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Municipal Finance Authority</name>
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        <name>Coachella Valley Water District</name>
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        <name>City of Irvine CA</name>
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        <name>Fremont Unified School District/Alameda County CA</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Dublin-San Ramon Services District Water Revenue</name>
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        <name>California Housing Finance Agency</name>
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        <name>University of California</name>
        <lei>N/A</lei>
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        <name>California State Public Works Board</name>
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        <name>Vallejo City Unified School District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Brea Redevelopment Agency</name>
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        <name>California State Public Works Board</name>
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        <name>City of Sacramento CA Transient Occupancy Tax Revenue</name>
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        <name>Santa Ana Unified School District</name>
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        <name>California School Finance Authority</name>
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        <name>Upper Santa Clara Valley Joint Powers Authority</name>
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        <name>Sweetwater Union High School District</name>
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        <name>East Bay Municipal Utility District Water System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tejon Ranch Public Facilities Finance Authority</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Dublin-San Ramon Services District Water Revenue</name>
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        <name>Pleasanton Unified School District</name>
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        <name>City of San Jose CA</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>University of California</name>
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        <name>San Bernardino City Unified School District</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Educational Facilities Authority</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Transbay Joint Powers Authority</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
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          <isin value="US13013JBJ43"/>
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      <invstOrSec>
        <name>Pasadena Public Financing Authority</name>
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          <isin value="US702274DK45"/>
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          <maturityDt>2040-06-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Santa Rosa High School District</name>
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        <invCountry>US</invCountry>

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          <maturityDt>2035-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hayward Unified School District</name>
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          <isin value="US421294DZ90"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oakland Unified School District/Alameda County</name>
        <lei>N/A</lei>
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          <isin value="US672325H919"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Washington Unified School District/Yolo County CA</name>
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        <title>WASHINGTON SD-CABS-A</title>
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          <isin value="US937411FC56"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>MOUNTAIN HOUSE CMNTY FACS DIST</name>
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          <isin value="US62412KAB35"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <name>Riverside Community College District</name>
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          <couponKind>Fixed</couponKind>
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        <name>Long Beach Community College District</name>
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        <name>Riverside Unified School District</name>
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        <name>San Jacinto Community Facilities District</name>
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        <name>Sacramento City Unified School District/CA</name>
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        <name>San Diego Public Facilities Financing Authority</name>
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        <name>San Joaquin Hills Transportation Corridor Agency</name>
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        <name>El Rancho Unified School District</name>
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        <name>Moreland School District</name>
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        <name>San Mateo County Community College District</name>
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      <invstOrSec>
        <name>Transbay Joint Powers Authority</name>
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      <invstOrSec>
        <name>Clovis Unified School District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Pittsburg Successor Agency Redevelopment Agency</name>
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        <name>California School Finance Authority</name>
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        <name>Fresno Joint Powers Financing Authority</name>
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        <name>Temecula Redevelopment Agency Successor Agency</name>
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        <name>California Educational Facilities Authority</name>
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        <name>Sacramento Municipal Utility District</name>
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        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Tobacco Securitization Authority of Northern California</name>
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        <name>Rowland Unified School District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Golden State Tobacco Securitization Corp</name>
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      <invstOrSec>
        <name>City of Oxnard CA Gas Tax Revenue</name>
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      <invstOrSec>
        <name>San Marcos Schools Financing Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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      <invstOrSec>
        <name>Paramount Unified School District</name>
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          <isin value="US699211NT14"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>M-S-R Energy Authority</name>
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          <isin value="US55374SAC44"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
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          <isin value="US13067VBM54"/>
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        <curCd>USD</curCd>
        <valUSD>7235142.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kaweah Delta Health Care District Guild</name>
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        <cusip>486375GY8</cusip>
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          <isin value="US486375GY85"/>
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        <curCd>USD</curCd>
        <valUSD>4472535.44000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
        <lei>N/A</lei>
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          <isin value="US13016NFM11"/>
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        <curCd>USD</curCd>
        <valUSD>626725.98000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
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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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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Western Placer Waste Management Authority</name>
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        <name>City of San Francisco CA Public Utilities Commission Water Revenue</name>
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        <name>California State Public Works Board</name>
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        <name>Alhambra Unified School District</name>
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        <name>Sanger Unified School District</name>
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        <name>Rio Hondo Community College District/CA</name>
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        <name>Port of Los Angeles</name>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
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        <name>State of California</name>
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      <invstOrSec>
        <name>West Contra Costa Unified School District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>State of California</name>
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          <maturityDt>2036-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Health Facilities Financing Authority</name>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>California Statewide Communities Development Authority</name>
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          <maturityDt>2032-05-15</maturityDt>
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        <name>Northern California Transmission Agency</name>
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        <name>Newark Unified School District/CA</name>
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          <maturityDt>2036-08-01</maturityDt>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Hayward Unified School District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Los Angeles Unified School District/CA</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>Grossmont Union High School District</name>
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        <name>Tobacco Securitization Authority of Southern California</name>
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        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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        <name>Los Angeles Unified School District/CA</name>
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      <invstOrSec>
        <name>Pleasant Valley School District/Ventura County</name>
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      <invstOrSec>
        <name>Santa Ana 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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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>California School Finance Authority</name>
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          <isin value="US13059TFZ75"/>
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      <invstOrSec>
        <name>City &amp; County of San Francisco CA</name>
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      <invstOrSec>
        <name>Baldwin Park Unified School District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>County of Sacramento CA Airport System Revenue</name>
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        <name>California Educational Facilities Authority</name>
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        <name>Rialto Unified School District</name>
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        <name>Chaffey Joint Union High School District</name>
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        <name>Poway Unified School District</name>
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        <name>RNR School Financing Authority</name>
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      <invstOrSec>
        <name>Ravenswood City School District/CA</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
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      <invstOrSec>
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        <name>Santa Clarita Public Finance Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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          <isin value="US13016NFP42"/>
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        <name>California Statewide Communities Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Roseville CA</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>South Bayside Waste Management Authority</name>
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        <name>San Francisco Community College District</name>
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        <name>La Mesa-Spring Valley School District</name>
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        <name>Carlsbad Unified School District</name>
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        <name>California Public Finance Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>River Islands Public Financing Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>State of California</name>
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        <name>Romoland School District</name>
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        <name>Local Public Schools Funding Authority School Improvement District No 2016-1</name>
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        <name>City of Los Angeles CA Wastewater System Revenue</name>
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        <name>Twin Rivers Unified School District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>California School Finance Authority</name>
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        <name>California School Facilities Financing Authority</name>
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        <name>California State University</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>University of California</name>
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        <name>California Enterprise Development Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>California Public Finance Authority</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Marin Community College District</name>
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          <isin value="US56781RHG56"/>
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          <maturityDt>2030-08-01</maturityDt>
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        <name>San Diego Public Facilities Financing Authority</name>
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      <invstOrSec>
        <name>Corona-Norco Unified School District</name>
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          <maturityDt>2028-08-01</maturityDt>
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        <name>California State Public Works Board</name>
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          <isin value="US13068L5T85"/>
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          <maturityDt>2040-03-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Western Riverside Water &amp; Wastewater Financing Authority</name>
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          <isin value="US95942TGU51"/>
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        <name>Modesto High School District</name>
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          <maturityDt>2045-08-01</maturityDt>
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        <name>State of California</name>
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        <name>San Jose Evergreen Community College District</name>
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        <name>Hayward Unified School District</name>
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        <name>Los Angeles Unified School District/CA</name>
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        <name>United Water Conservation District</name>
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        <name>Los Angeles Unified School District/CA</name>
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        <name>City of Sacramento CA Transient Occupancy Tax Revenue</name>
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        <name>Madera Unified School District</name>
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        <name>Kern High School District</name>
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        <name>Moreland School District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <isin value="US79770GER39"/>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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          <isin value="US130179PB42"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
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      <invstOrSec>
        <name>Miracosta Community College District</name>
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          <isin value="US604617BX79"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
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          <annualizedRt>2.00000000</annualizedRt>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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          <isin value="US13035ADU07"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</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>
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          <isin value="US130179VD34"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Poway Unified School District</name>
        <lei>N/A</lei>
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        <cusip>738850QM1</cusip>
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          <isin value="US738850QM10"/>
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        <balance>10310000.00000000</balance>
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        <curCd>USD</curCd>
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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>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Lincoln CA</name>
        <lei>N/A</lei>
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          <isin value="US533042JX69"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>Placentia-Yorba Linda Unified School District</name>
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          <isin value="US725894JU48"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>120886.53000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Riverside Public Financing Authority</name>
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          <isin value="US76926CBW38"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Miracosta Community College District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Educational Facilities Authority</name>
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          <isin value="US130179NW07"/>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hampshire Business Finance Authority</name>
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        <name>Southwestern Community College District</name>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Metropolitan Water District of Southern California</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Pollution Control Financing Authority</name>
        <lei>N/A</lei>
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        <name>West Contra Costa Unified School District</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>Norman Y Mineta San Jose International Airport SJC</name>
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        <name>Stockton Unified School District</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Stockton Unified School District</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>City of Los Angeles CA Wastewater System Revenue</name>
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        <name>San Francisco Unified School District</name>
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        <name>Mount Diablo Unified School District/CA</name>
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      <invstOrSec>
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        <name>California Municipal Finance Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>University of California</name>
        <lei>N/A</lei>
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        <name>California State Public Works Board</name>
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        <name>San Jacinto Unified School District</name>
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        <name>Pittsburg Unified School District</name>
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        <name>Southern California Public Power Authority</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Livermore Valley Joint Unified School District/CA</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>City of Dublin CA</name>
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        <name>Transbay Joint Powers Authority</name>
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        <name>Palo Alto Unified School District</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Riverside CA Water Revenue</name>
        <lei>N/A</lei>
        <title>RIVERSIDE CA WTR REVE</title>
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          <isin value="US769076VZ03"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
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        <title>SAN LUIS OBISPO CFD</title>
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          <isin value="US798601AF70"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tender Option Bond Trust Receipts/Certificates</name>
        <lei>N/A</lei>
        <title>TNDR OPT-FLTR-5059</title>
        <cusip>88035JGE6</cusip>
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          <isin value="US88035JGE64"/>
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        <balance>63440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>63440000.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>West Sonoma County Union High School District</name>
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        <title>WEST SONOMA SD-B-CABS</title>
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          <isin value="US956101EJ48"/>
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        <balance>1640000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1020368.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Joaquin Regional Rail Commission</name>
        <lei>N/A</lei>
        <title>SAN JOAQUIN</title>
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          <isin value="US79811TAY55"/>
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        <balance>725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>791915.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Alhambra Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US016059DJ36"/>
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        <curCd>USD</curCd>
        <valUSD>747637.60000000</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>2033-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Freddie Mac Multifamily ML Certificates</name>
        <lei>N/A</lei>
        <title>FHMLC 2024-ML25-SPC</title>
        <cusip>3137HH6G1</cusip>
        <identifiers>
          <isin value="US3137HH6G17"/>
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        <balance>3749039.96000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3442882.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.54200000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Palmdale Community Redevelopment Agency Successor Agency</name>
        <lei>N/A</lei>
        <title>PALMDALE REDEV-A-REF</title>
        <cusip>69672FAT5</cusip>
        <identifiers>
          <isin value="US69672FAT57"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>762468.60000000</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>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Beaumont Public Improvement Authority</name>
        <lei>N/A</lei>
        <title>BEAUMONT IMPT AUTH-A</title>
        <cusip>074428AT0</cusip>
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          <isin value="US074428AT06"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>938240.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Riverside CA Electric Revenue</name>
        <lei>N/A</lei>
        <title>RIVERSIDE ELEC-A-REF</title>
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          <isin value="US768874VR74"/>
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        <balance>515000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>549466.94000000</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>2042-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Oakland Unified School District/Alameda County</name>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13080SH566"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>San Luis Obispo County Community College District</name>
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        <name>San Jose Evergreen Community College District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Jefferson Union High School District</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>University of California</name>
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      <invstOrSec>
        <name>Central Unified School District</name>
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        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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        <name>City of Sacramento CA Transient Occupancy Tax Revenue</name>
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          <maturityDt>2030-06-01</maturityDt>
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      <invstOrSec>
        <name>Ukiah Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US903698CC06"/>
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          <couponKind>None</couponKind>
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        <name>San Francisco Community College District</name>
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      <invstOrSec>
        <name>Central Unified School District</name>
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          <isin value="US15276PNV75"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Modesto High School District</name>
        <lei>N/A</lei>
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          <isin value="US607743LR00"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ontario Public Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US68304REF38"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Carlsbad Unified School District</name>
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        <name>University of California</name>
        <lei>N/A</lei>
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        <name>Temecula Redevelopment Agency Successor Agency</name>
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        <name>Morgan Hill Unified School District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>San Mateo Foster City School District/CA</name>
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        <name>California Educational Facilities Authority</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>San Joaquin Hills Transportation Corridor Agency</name>
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        <name>Vista Unified School District</name>
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        <name>California State University</name>
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        <name>Riverside Community College District</name>
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        <name>City of San Francisco CA Public Utilities Commission Water Revenue</name>
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        <name>Palomar Health</name>
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      <invstOrSec>
        <name>Foothill-De Anza Community College District</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525D968"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13080SQY36"/>
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        <curCd>USD</curCd>
        <valUSD>39263.38000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sacramento City Unified School District/CA</name>
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          <isin value="US785870C794"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2028-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California County Tobacco Securitization Agency</name>
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          <isin value="US13016NGQ16"/>
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        <curCd>USD</curCd>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
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          <isin value="US79739GHM15"/>
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      <invstOrSec>
        <name>Chico Unified School District</name>
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          <isin value="US168520PU29"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac Multifamily ML Certificates</name>
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        <title>FEDERAL HOME LOAN MTG</title>
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          <isin value="US3137H9JM29"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <cusip>13013JEU6</cusip>
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          <isin value="US13013JEU60"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of California</name>
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        <name>Washington Township Health Care District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>Rialto Unified School District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>M-S-R Energy Authority</name>
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        <name>California School Finance Authority</name>
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        <name>Newport Mesa Unified School District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Western Placer Waste Management Authority</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>San Diego Unified School District/CA</name>
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      <invstOrSec>
        <name>Sanger Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US800851TT41"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>South Bayside Waste Management Authority</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Transbay Joint Powers Authority</name>
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          <isin value="US89356CAC01"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jefferson Union High School District</name>
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          <isin value="US472467AL36"/>
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        <curCd>USD</curCd>
        <valUSD>104165.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Housing Authority</name>
        <lei>N/A</lei>
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          <isin value="US544562CQ21"/>
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        <balance>1091000.00000000</balance>
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        <curCd>USD</curCd>
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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>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Brentwood Infrastructure Financing Authority</name>
        <lei>N/A</lei>
        <title>BRENTWOOD INFRA-A-REF</title>
        <cusip>10727XUF3</cusip>
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          <isin value="US10727XUF31"/>
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        <balance>2365000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2367369.73000000</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>2027-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Transbay Joint Powers Authority</name>
        <lei>549300WC0UP8WU8GYU95</lei>
        <title>TRANSBAY JT PWRS-A</title>
        <cusip>89356CAS5</cusip>
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          <isin value="US89356CAS52"/>
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        <balance>1165000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1165107.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
        <lei>N/A</lei>
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          <isin value="US544525A329"/>
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        <balance>1125000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Poway Unified School District Public Financing Authority</name>
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          <isin value="US73885QJF72"/>
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        <balance>1760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1767778.32000000</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>2025-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Fresno Unified School District</name>
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          <isin value="US3582326J08"/>
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        <balance>1125000.00000000</balance>
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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>3.00000000</annualizedRt>
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        <name>Municipal Improvement Corp of Los Angeles</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525P939"/>
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        <name>California Community Choice Financing Authority</name>
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        <name>Chaffey Joint Union High School District</name>
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        <name>San Rafael City High School District/CA</name>
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        <name>Oakland Unified School District/Alameda County</name>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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        <name>Turlock Irrigation District</name>
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        <name>Long Beach Community College District</name>
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      <invstOrSec>
        <name>Freddie Mac Multifamily ML Certificates</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>Mountain House Public Financing Authority</name>
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          <isin value="US62412PBB13"/>
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        <name>Roseville Joint Union High School District</name>
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          <isin value="US777849SR23"/>
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        <name>City of Porterville CA Water Revenue</name>
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        <name>Los Alamitos Unified School District</name>
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          <isin value="US544203BC56"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>Bay Area Toll Authority</name>
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          <isin value="US072024XT43"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Golden State Tobacco Securitization Corp</name>
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        <name>San Juan Unified School District</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>William S Hart Union High School District</name>
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        <name>Santa Monica-Malibu Unified School District</name>
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        <name>Municipal Improvement Corp of Los Angeles</name>
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        <name>Redondo Beach Unified School District</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>El Camino Healthcare District</name>
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          <maturityDt>2029-08-01</maturityDt>
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        <name>City of Upland CA</name>
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        <name>Palomar Health</name>
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        <name>City of Long Beach CA Harbor Revenue</name>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
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          <isin value="US797356GJ53"/>
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        <name>Abag Finance Authority for Nonprofit Corps</name>
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        <name>Mendocino-Lake Community College District</name>
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        <name>California Public Finance Authority</name>
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        <name>California School Finance Authority</name>
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        <name>Santa Barbara County College School District</name>
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        <name>University of California</name>
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        <name>California State University</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>Antelope Valley Community College District</name>
        <lei>N/A</lei>
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        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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      <invstOrSec>
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        <name>California Enterprise Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Burlingame School District</name>
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        <name>California Municipal Finance Authority</name>
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      <invstOrSec>
        <name>Los Angeles Community College District/CA</name>
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        <name>City of Roseville CA Electric System Revenue</name>
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        <name>Foothill-De Anza Community College District</name>
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        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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        <name>California Public Finance Authority</name>
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        <name>Norman Y Mineta San Jose International Airport SJC</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>California Municipal Finance Authority</name>
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        <name>University of California</name>
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      <invstOrSec>
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          <isin value="US544525YY88"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US13057EFK55"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Norco CA</name>
        <lei>N/A</lei>
        <title>NORCO TAX CFD</title>
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          <isin value="US655534DX04"/>
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        <balance>1620000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Matching Fund Special Purpose Securitization Corp</name>
        <lei>N/A</lei>
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          <isin value="US57665NAC92"/>
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        <balance>1540000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>PARADISE CA UNIF SCH DIST COPS</name>
        <lei>N/A</lei>
        <title>PARADISE UNIF SD-COPS</title>
        <cusip>699042BV8</cusip>
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          <isin value="US699042BV84"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1106884.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <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>
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          <isin value="US46360RTK31"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>803040.40000000</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>2026-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Oakland Unified School District/Alameda County</name>
        <lei>N/A</lei>
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          <isin value="US672325H265"/>
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        <balance>2030000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2114695.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
        <lei>5493001TPOZL3UK8DX25</lei>
        <title>SAN FRANCISCO -A-REF</title>
        <cusip>79770GEF9</cusip>
        <identifiers>
          <isin value="US79770GEF90"/>
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        <balance>510000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>522152.99000000</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>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tobacco Securitization Authority of Northern California</name>
        <lei>N/A</lei>
        <title>NTHRN CA TOBACCO-A</title>
        <cusip>888794BK9</cusip>
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          <isin value="US888794BK94"/>
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        <balance>1860000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1950306.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</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>
        <title>SAN DIEGO USD-PREREF</title>
        <cusip>797356MA7</cusip>
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          <isin value="US797356MA70"/>
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        <balance>5220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4413740.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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          <isin value="US14916YDQ98"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Hayward Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US421294EA31"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>El Camino Community College District Fountation/The</name>
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      <invstOrSec>
        <name>Poway Unified School District</name>
        <lei>N/A</lei>
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        <name>CSCDA Community Improvement Authority</name>
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        <invCountry>US</invCountry>

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          <maturityDt>2046-12-01</maturityDt>
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          <annualizedRt>2.65000000</annualizedRt>
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      <invstOrSec>
        <name>Val Verde Unified School District</name>
        <lei>N/A</lei>
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        <balance>275000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Campbell Union High School District</name>
        <lei>N/A</lei>
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        <name>San Bernardino City Unified School District</name>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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      <invstOrSec>
        <name>Chino Valley Unified School District</name>
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        <name>Moreno Valley Unified School District Financing Authority</name>
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        <name>San Francisco City &amp; County Public Utilities Commission Wastewater Revenue</name>
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          <isin value="US79768HES31"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Community Choice Financing Authority</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Washington Township Health Care District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Municipal Finance Authority</name>
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        <name>San Juan Unified School District</name>
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        <name>Rio Hondo Community College District/CA</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Bay Area Toll Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Chaffey Joint Union High School District</name>
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        <name>California Statewide Communities Development Authority</name>
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          <isin value="US798755FH28"/>
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        <name>Moreno Valley Unified School District/CA</name>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13032UMB16"/>
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        <name>California State Public Works Board</name>
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        <name>San Jacinto Unified School District</name>
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        <name>Ukiah Unified School District/CA</name>
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        <name>Moreno Valley Unified School District Financing Authority</name>
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        <name>San Francisco Bay Area Rapid Transit District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>New Haven Unified School District</name>
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        <name>California State Public Works Board</name>
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        <name>Mountain View-Whisman School District</name>
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        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
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        <name>Chaffey Joint Union High School District</name>
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        <name>California Community College Financing Authority</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>Rio Hondo Community College District/CA</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>San Joaquin County Transportation Authority Measure K Sales Tax Revenue</name>
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      <invstOrSec>
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        <name>Tracy Community Facilities District/CA</name>
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        <name>California Municipal Finance Authority</name>
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          <isin value="US13048VR913"/>
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        <name>University of California</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Victorville CA Electric Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-01</maturityDt>
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        <name>Golden State Tobacco Securitization Corp</name>
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          <isin value="US38122NYL09"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-01</maturityDt>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>Washington Township Health Care District</name>
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        <name>State of California</name>
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        <name>Simi Valley Unified School District</name>
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        <name>Transbay Joint Powers Authority</name>
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        <name>Washington Township Health Care District</name>
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        <name>Long Beach Community College District</name>
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        <name>San Jose Evergreen Community College District</name>
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        <name>San Rafael City Elementary School District</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Riverside County Transportation Commission</name>
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        <name>South Bayside Waste Management Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Department of Veterans Affairs Veteran's Farm &amp; Home Purchase Program</name>
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        <name>Santa Monica-Malibu Unified School District</name>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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        <name>Northern California Transmission Agency</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Foothill-Eastern Transportation Corridor Agency</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Grossmont Union High School District</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>San Joaquin Regional Rail Commission</name>
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          <isin value="US79811TBF57"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Northstar Community Services District</name>
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          <isin value="US66704PBL76"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Statewide Communities Development Authority</name>
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          <isin value="US13081KAM27"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mount Diablo Unified School District/CA</name>
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          <isin value="US621196V925"/>
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        <curCd>USD</curCd>
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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>California Municipal Finance Authority</name>
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          <isin value="US13049YAJ01"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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          <isin value="US13034AU325"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Southern California Public Power Authority</name>
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          <isin value="US84247PMU20"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Alameda Corridor Transportation Authority</name>
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        <name>State of California</name>
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        <name>Tender Option Bond Trust Receipts/Certificates</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Walnut Valley Unified School District</name>
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        <name>Mountain View Shoreline Regional Park Community</name>
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        <name>Chino Valley Unified School District</name>
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        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Yuba Community College District</name>
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        <name>University of California</name>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Multifamily VRD Certificates</name>
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          <isin value="US31350ACJ51"/>
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          <maturityDt>2034-04-15</maturityDt>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <isin value="US544525UB22"/>
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      <invstOrSec>
        <name>Freddie Mac Pool</name>
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          <isin value="US3132YBYP54"/>
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          <maturityDt>2040-07-01</maturityDt>
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        <name>California State University</name>
        <lei>N/A</lei>
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          <isin value="US13077DLV28"/>
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        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13032UWB06"/>
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        <fairValLevel>2</fairValLevel>
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        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CA STWD CMNTYS-A</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>State of California</name>
        <lei>N/A</lei>
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          <isin value="US13063DBV91"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Irvine Unified School District</name>
        <lei>549300BNIP4XNVC0X742</lei>
        <title>IRVINE USD SPL TAX-B</title>
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          <isin value="US463612JT99"/>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>State of California</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>State of California</name>
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        <name>California Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>Chino Community Facilities District</name>
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        <name>Stockton Unified School District</name>
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        <name>Peninsula Corridor Joint Powers Board/CA</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>State of California</name>
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        <name>Compton Unified School District/CA</name>
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      <invstOrSec>
        <name>Coast Unified School District</name>
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          <isin value="US190327CL81"/>
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        <name>Marin Community College District</name>
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        <name>City of Oxnard CA Gas Tax Revenue</name>
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        <name>San Mateo Joint Powers Financing Authority</name>
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        <name>Long Beach Bond Finance Authority</name>
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        <name>City of Roseville CA</name>
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        <name>Val Verde Unified School District</name>
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        <name>Los Angeles Unified School District/CA</name>
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          <isin value="US13016NEH35"/>
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        <name>California Municipal Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Sacramento CA Transient Occupancy Tax Revenue</name>
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        <name>Union Elementary School District</name>
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          <couponKind>None</couponKind>
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        <name>Puerto Rico Commonwealth Aqueduct &amp; Sewer Authority</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Poway Unified School District Public Financing Authority</name>
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        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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          <isin value="US13032UF948"/>
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        <curCd>USD</curCd>
        <valUSD>4509798.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sacramento City Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US785870XK77"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mountain House Public Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US62412PBX33"/>
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        <curCd>USD</curCd>
        <valUSD>442185.73000000</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>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alvord Unified School District</name>
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        <title>ALVORD USD-REF</title>
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          <isin value="US022555WG74"/>
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        <balance>1375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1465998.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
        <lei>N/A</lei>
        <title>SAN DIEGO SD-A-REFD</title>
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          <isin value="US797356CA80"/>
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        <curCd>USD</curCd>
        <valUSD>1583571.24000000</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>2027-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pittsburg Successor Agency Redevelopment Agency</name>
        <lei>N/A</lei>
        <title>PITTSBURG REDEV-REF</title>
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          <isin value="US86459LAL27"/>
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        <balance>855000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>857197.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Foothill-Eastern Transportation Corridor Agency</name>
        <lei>N/A</lei>
        <title>FOOTHILL ESTRN TRANSP</title>
        <cusip>345105JK7</cusip>
        <identifiers>
          <isin value="US345105JK75"/>
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        <balance>9377000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9627466.23000000</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>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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 CO REGL</title>
        <cusip>79739GJJ6</cusip>
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          <isin value="US79739GJJ67"/>
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        <balance>2850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3007454.24000000</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>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>College of the Sequoias Tulare Area Improvement District No 3</name>
        <lei>549300RQ29ZSYQO3DD55</lei>
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          <isin value="US19428UCD72"/>
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        <balance>3110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1590427.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dry Creek Joint Elementary School District</name>
        <lei>N/A</lei>
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          <isin value="US262386EZ47"/>
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        <balance>1690000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1093994.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Los Angeles Department of Airports</name>
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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>2036-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Municipal Finance Authority</name>
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        <curCd>USD</curCd>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Los Angeles CA Wastewater System Revenue</name>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>Placentia-Yorba Linda Unified School District</name>
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      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
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        <invCountry>US</invCountry>

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        <name>City of Irvine CA</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-02</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Perris Union High School District/CA</name>
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        <name>City of Vernon CA Electric System Revenue</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Tobacco Securitization Authority of Southern California</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Public Finance Authority</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Chino Valley Unified School District</name>
        <lei>N/A</lei>
        <title>CHINO VLY SD-CABS-D</title>
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          <isin value="US169583KM26"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Foster City CA</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US130483HC75"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
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        <title>SAN LUIS OBISPO CFD</title>
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          <isin value="US798601AP52"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Azusa Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US055033MB73"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>San Marcos Unified School District</name>
        <lei>N/A</lei>
        <title>SAN MARCOS USD-CABS</title>
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          <isin value="US798755BP89"/>
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        <balance>2300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2288402.94000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hacienda La Puente Unified School District/CA</name>
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        <title>HACIENDA UNIF SCH DT</title>
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          <isin value="US40450REY36"/>
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        <curCd>USD</curCd>
        <valUSD>1765450.08000000</valUSD>
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        <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>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Sacramento CA Airport System Revenue</name>
        <lei>N/A</lei>
        <title>SACRAMENTO CNTY CA AR</title>
        <cusip>786107RC8</cusip>
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          <isin value="US786107RC86"/>
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        <curCd>USD</curCd>
        <valUSD>1296631.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rialto Unified School District</name>
        <lei>N/A</lei>
        <title>RIALTO UNIF SCH DIST</title>
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          <isin value="US762494RZ73"/>
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        <balance>665000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>555771.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>CA ST EDU FACS AUTH-A</title>
        <cusip>1301784V5</cusip>
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          <isin value="US1301784V53"/>
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        <valUSD>1175264.61000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside County Public Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US76912TNR04"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Roseville CA</name>
        <lei>549300OH100KESVPND17</lei>
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          <isin value="US777870V786"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego Public Facilities Financing Authority</name>
        <lei>N/A</lei>
        <title>SAN DIEGO PUB WTR REV</title>
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          <isin value="US79730CLK89"/>
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      <invstOrSec>
        <name>San Francisco Unified School District</name>
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        <name>Bonsall Unified School District</name>
        <lei>N/A</lei>
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        <name>San Francisco City &amp; County Public Utilities Commission Wastewater Revenue</name>
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        <name>San Francisco City &amp; County Redevelopment Agency Successor Agency</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CA MUNI FIN AUTH -REF</title>
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        <name>University of California</name>
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        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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        <name>Compton Unified School District/CA</name>
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        <name>California Health Facilities Financing Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Carpinteria Valley Water District</name>
        <lei>N/A</lei>
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          <isin value="US14440RBC25"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Francisco Community College District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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          <isin value="US130179PC25"/>
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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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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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          <isin value="US54466HEV42"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Brea Redevelopment Agency</name>
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          <isin value="US106287JF37"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
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          <isin value="US13032UWL87"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Diego Unified School District/CA</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-01</maturityDt>
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        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
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        <name>California State University</name>
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        <name>Washington Township Health Care District</name>
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        <name>City of Newport Beach CA</name>
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        <name>Foothill-Eastern Transportation Corridor Agency</name>
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        <name>City of Hayward CA</name>
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        <name>Hemet Unified School District</name>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
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        <name>El Rancho Unified School District</name>
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      <invstOrSec>
        <name>San Mateo Foster City Public Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US79905VAT89"/>
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        <valUSD>2747429.30000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Perris Union High School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US714398LA01"/>
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          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Beaumont CA</name>
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          <isin value="US074434EM92"/>
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        <curCd>USD</curCd>
        <valUSD>409951.04000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ravenswood City School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US754405JL33"/>
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        <curCd>USD</curCd>
        <valUSD>2190343.86000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
        <title>CA SCH FIN AUTH-A-REF</title>
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          <isin value="US13058TCE82"/>
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        <curCd>USD</curCd>
        <valUSD>280118.38000000</valUSD>
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        <invCountry>US</invCountry>

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          <maturityDt>2028-08-01</maturityDt>
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          <annualizedRt>5.00000000</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>
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          <isin value="US79739GFL59"/>
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        <curCd>USD</curCd>
        <valUSD>1041527.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
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          <isin value="US79739GHB59"/>
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        <balance>1140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1213890.92000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power Water System Revenue</name>
        <lei>N/A</lei>
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          <isin value="US544525X867"/>
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        <balance>4660000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4895251.25000000</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>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Campbell Union High School District</name>
        <lei>N/A</lei>
        <title>CAMPBELL SD-B</title>
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          <isin value="US134159YP17"/>
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        <balance>5485000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5637703.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Enterprise Development Authority</name>
        <lei>549300544P6FSHU1HB46</lei>
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          <maturityDt>2027-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Roseville Finance Authority</name>
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          <isin value="US77781PCZ80"/>
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        <name>Department of Veterans Affairs Veteran's Farm &amp; Home Purchase Program</name>
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        <name>Santa Monica Community College District</name>
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        <name>Tulare Local Health Care District</name>
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        <name>Mountain View Los Altos Union High School District/CA</name>
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        <name>City of Porterville CA Water Revenue</name>
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      <invstOrSec>
        <name>San Luis Obispo County Financing Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Palos Verdes Peninsula Unified School District</name>
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        <name>Simi Valley Unified School District</name>
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        <name>Independent Cities Finance Authority</name>
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        <name>San Dieguito Union High School District</name>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>San Marcos Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
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        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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        <name>California Public Finance Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>San Bernardino Community College District</name>
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        <name>Fresno Joint Powers Financing Authority</name>
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      <invstOrSec>
        <name>Alameda Unified School District-Alameda County/CA</name>
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          <isin value="US010824JA93"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Palomar Health</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Diego County Regional Airport Authority</name>
        <lei>N/A</lei>
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          <isin value="US79739GHG47"/>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isin value="US785849QP87"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
          <couponKind>None</couponKind>
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        <name>California Statewide Communities Development Authority</name>
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          <maturityDt>2031-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California Municipal Finance Authority</name>
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          <isin value="US13048TTQ66"/>
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          <maturityDt>2030-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>United Water Conservation District</name>
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        <name>El Camino Community College District Fountation/The</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Alameda Corridor Transportation Authority</name>
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        <name>San Bernardino City Unified School District</name>
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        <name>Chaffey Joint Union High School District</name>
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        <name>Moreland School District</name>
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        <name>San Diego Public Facilities Financing Authority</name>
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        <name>Grossmont-Cuyamaca Community College District</name>
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          <maturityDt>2041-08-01</maturityDt>
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        <name>Washington Township Health Care District</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>San Marcos Unified School District</name>
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        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2043-08-01</maturityDt>
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        <name>California Community Housing Agency</name>
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        <name>City of Chico CA Sewer Revenue</name>
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          <maturityDt>2026-12-01</maturityDt>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>Santa Clarita Community College District</name>
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        <name>Carlsbad Unified School District</name>
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        <name>Chula Vista Elementary School District</name>
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        <name>Burlingame Financing Authority</name>
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          <isin value="US121459EY30"/>
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        <name>Local Public Schools Funding Authority School Improvement District No 2016-1</name>
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        <name>California Health Facilities Financing Authority</name>
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      <invstOrSec>
        <name>Sacramento City Unified School District/CA</name>
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          <isin value="US785870C463"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Santa Cruz County Capital Financing Authority</name>
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          <isin value="US80181PGN15"/>
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        <name>Jurupa Community Services District</name>
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        <name>Baldwin Park Unified School District</name>
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        <name>Pasadena Area Community College District</name>
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        <name>San Diego Unified School District/CA</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>River Islands Public Financing Authority</name>
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        <name>West Contra Costa Unified School District</name>
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        <name>Last Frontier Healthcare District</name>
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        <name>California State University</name>
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        <name>California State Public Works Board</name>
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        <name>City &amp; County of San Francisco CA Special Tax District No 2020-1</name>
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        <name>San Joaquin Hills Transportation Corridor Agency</name>
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        <name>Tobacco Securitization Authority of Southern California</name>
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        <name>Transbay Joint Powers Authority</name>
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        <name>Ocean View School District/Orange County CA</name>
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        <name>San Francisco Unified School District</name>
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          <annualizedRt>5.00000000</annualizedRt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Coast Community College District</name>
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          <isin value="US190335JW08"/>
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        <invCountry>US</invCountry>

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          <maturityDt>2038-08-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Southwestern Community College District</name>
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        <name>State of California</name>
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          <maturityDt>2040-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>Center Joint Unified School District</name>
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        <name>San Jose Unified School District</name>
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        <name>California Public Finance Authority</name>
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        <name>Los Angeles Unified School District/CA</name>
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        <name>El Segundo Unified School District</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Cathedral City Redevelopment Agency Successor Agency</name>
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        <name>California State University</name>
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        <name>University of California</name>
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        <name>California School Finance Authority</name>
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        <name>State of California</name>
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        <name>Chaffey Joint Union High School District</name>
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        <name>Western Riverside Water &amp; Wastewater Financing Authority</name>
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        <name>Sunnyvale Financing Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>Foothill-De Anza Community College District</name>
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        <name>Bay Area Toll Authority</name>
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        <name>Hayward Unified School District</name>
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        <name>Newport Mesa Unified School District</name>
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        <name>University of California</name>
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      <invstOrSec>
        <name>Sacramento Municipal Utility District</name>
        <lei>E3GSVR6ZOU1MX2V7HF33</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fremont Union High School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Inglewood Unified School District</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Community College District/CA</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CMNTY CLG</title>
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          <isin value="US54438CC835"/>
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        <curCd>USD</curCd>
        <valUSD>8460411.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Victorville CA Electric Revenue</name>
        <lei>N/A</lei>
        <title>VICTORVILLE-A</title>
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          <isin value="US92642CAR51"/>
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        <balance>2015000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp</name>
        <lei>N/A</lei>
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          <isin value="US38122NYE65"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Long Beach Bond Finance Authority</name>
        <lei>549300BKBZ5U7OZH3S21</lei>
        <title>LONG BCH NAT GAS-A</title>
        <cusip>54241AAZ6</cusip>
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          <isin value="US54241AAZ66"/>
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        <balance>17245000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Norco CA</name>
        <lei>N/A</lei>
        <title>NORCO TAX CFD</title>
        <cusip>655534DW2</cusip>
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          <isin value="US655534DW21"/>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington Township Health Care District</name>
        <lei>N/A</lei>
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        <balance>1395000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Santa Ana College Improvement District #1 Rancho Santiago Community College Dist</name>
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      <invstOrSec>
        <name>California Public Finance Authority</name>
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        <name>City of San Luis Obispo CA Community Facilities District No 2019-1</name>
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        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US13048VS333"/>
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        <name>East Bay Municipal Utility District Water System Revenue</name>
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        <name>Los Angeles Unified School District/CA</name>
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        <name>Foothill-De Anza Community College District</name>
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        <name>Portola Valley School District</name>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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      <invstOrSec>
        <name>City of Dublin CA</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Western Placer Unified School District</name>
        <lei>N/A</lei>
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        <name>City of Menifee CA</name>
        <lei>N/A</lei>
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          <isin value="US58680WBC73"/>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tejon Ranch Public Facilities Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US879083FL23"/>
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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>University of California</name>
        <lei>N/A</lei>
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          <isin value="US91412G3R43"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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          <isin value="US130179JA33"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Chaffey Joint Union High School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
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        <name>San Diego County Regional Airport Authority</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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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Stockton Public Financing Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <name>Sacramento Area Flood Control Agency</name>
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        <name>Ontario International Airport Authority</name>
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        <name>California Municipal Finance Authority</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>University of California</name>
        <lei>N/A</lei>
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        <name>Bay Area Toll Authority</name>
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      <invstOrSec>
        <name>Moreno Valley Unified School District Financing Authority</name>
        <lei>N/A</lei>
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        <cusip>61687LBT1</cusip>
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          <isin value="US61687LBT17"/>
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        <balance>920000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>945239.46000000</valUSD>
        <pctVal>0.005918677033</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clovis Unified School District</name>
        <lei>N/A</lei>
        <title>CLOVIS USD-CABS-REF</title>
        <cusip>189342E95</cusip>
        <identifiers>
          <isin value="US189342E958"/>
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        <balance>4185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3268274.49000000</valUSD>
        <pctVal>0.020464508709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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</title>
        <cusip>072024VE9</cusip>
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          <isin value="US072024VE91"/>
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        <balance>2330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2345038.99000000</valUSD>
        <pctVal>0.014683610872</pctVal>
        <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>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>California State Public Works Board</name>
        <lei>N/A</lei>
        <title>CA ST PUB WKS-D</title>
        <cusip>13068XFE4</cusip>
        <identifiers>
          <isin value="US13068XFE40"/>
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        <balance>1160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1088315.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-01</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>West Contra Costa Unified School District</name>
        <lei>N/A</lei>
        <title>W CONTRA COSTA CA-E</title>
        <cusip>9523474B5</cusip>
        <identifiers>
          <isin value="US9523474B53"/>
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        <balance>1265000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1212473.78000000</valUSD>
        <pctVal>0.007591981734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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 Porterville CA Water Revenue</name>
        <lei>N/A</lei>
        <title>PORTERVILLE</title>
        <cusip>736398AR9</cusip>
        <identifiers>
          <isin value="US736398AR99"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202846.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Menifee Union School District</name>
        <lei>N/A</lei>
        <title>MENIFEE USD-CFD NO 5</title>
        <cusip>5868103Z4</cusip>
        <identifiers>
          <isin value="US5868103Z40"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>480299.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-01</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-07-29</ncom:dateSigned>
      <ncom:nameOfApplicant>VANGUARD CALIFORNIA TAX-FREE FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Ashley Grim</ncom:signature>
      <ncom:signerName>Ashley Grim</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
