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        <name>Metro</name>
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        <name>Oregon State Facilities Authority</name>
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        <name>Sales Tax Securitization Corp.</name>
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          <annualizedRt>2.80000000</annualizedRt>
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        <name>Sales Tax Securitization Corp.</name>
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          <isin value="US79467BDT98"/>
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        <name>Massachusetts Port Authority</name>
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          <maturityDt>2035-02-01</maturityDt>
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        <name>City of Bridgeport</name>
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        <name>Florida Development Finance Corp.</name>
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        <name>New York City Transitional Finance Authority Future Tax Secured</name>
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        <name>Summit County Development Finance Authority</name>
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        <name>Massachusetts Development Finance Agency</name>
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      <invstOrSec>
        <name>University of California</name>
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          <maturityDt>2030-05-15</maturityDt>
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        <name>State of Illinois Sales Tax</name>
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          <maturityDt>2031-06-15</maturityDt>
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        <name>New York State Dormitory Authority</name>
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          <maturityDt>2030-07-01</maturityDt>
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          <annualizedRt>2.67700000</annualizedRt>
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        <name>Delaware Municipal Electric Corp. (The)</name>
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        <name>State of Illinois</name>
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          <maturityDt>2033-06-01</maturityDt>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>San Antonio Education Facilities Corp.</name>
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        <name>New York State Urban Development Corp.</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>Mather Foundation</name>
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        <name>City of Chicago</name>
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        <name>Authority Improvement Municipalities Allegheny County</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Pennsylvania Turnpike Commission</name>
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      <invstOrSec>
        <name>City of Galesburg</name>
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      <invstOrSec>
        <name>State of New York</name>
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          <maturityDt>2030-03-15</maturityDt>
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      <invstOrSec>
        <name>Matching Fund Special Purpose Securitization Corp.</name>
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          <isin value="US57665NAH89"/>
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          <maturityDt>2025-10-01</maturityDt>
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      <invstOrSec>
        <name>State of Texas</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-10-01</maturityDt>
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        <name>Santa Monica Community College District</name>
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          <isin value="US802385SM73"/>
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          <maturityDt>2027-08-01</maturityDt>
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        <name>State of Wisconsin</name>
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          <maturityDt>2032-05-01</maturityDt>
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          <annualizedRt>2.50100000</annualizedRt>
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        <name>Idaho Energy Resources Authority</name>
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        <name>Brookhaven Local Development Corp.</name>
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        <name>Regional Transportation District Sales Tax</name>
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          <maturityDt>2027-11-01</maturityDt>
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        <name>State of Mississippi</name>
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          <maturityDt>2029-06-01</maturityDt>
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        <name>California State University</name>
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        <name>Long Beach Community College District</name>
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        <name>Foothill-Eastern Transportation Corridor Agency</name>
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        <name>New York State Energy Research &amp; Development Authority</name>
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      <invstOrSec>
        <name>Maryland Economic Development Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Northeast Ohio Regional Sewer District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-15</maturityDt>
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      <invstOrSec>
        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-05-01</maturityDt>
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      <invstOrSec>
        <name>Maryland Community Development Administration</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-01</maturityDt>
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          <annualizedRt>2.64400000</annualizedRt>
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        <name>State of Illinois</name>
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        <curCd>USD</curCd>
        <valUSD>500982.05000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-04-01</maturityDt>
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          <annualizedRt>4.31000000</annualizedRt>
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        <name>Illinois Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>State of Oregon Department of Transportation</name>
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        <curCd>USD</curCd>
        <valUSD>844512.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
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          <annualizedRt>1.66000000</annualizedRt>
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      <invstOrSec>
        <name>Mendocino-Lake Community College District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
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          <annualizedRt>2.79000000</annualizedRt>
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        <name>Sun Health Services</name>
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        <valUSD>881689.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>2.98000000</annualizedRt>
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        <name>Michigan Finance Authority</name>
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        <title>Michigan Finance Authority</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-01</maturityDt>
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          <annualizedRt>8.36900000</annualizedRt>
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        <name>County of Miami-Dade Aviation</name>
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          <maturityDt>2029-10-01</maturityDt>
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          <annualizedRt>2.44900000</annualizedRt>
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        <name>Inglewood Joint Powers Authority</name>
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          <maturityDt>2029-08-01</maturityDt>
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        <name>New Jersey Educational Facilities Authority</name>
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        <name>Fredericksburg Economic Development Authority</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>County of Cook</name>
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        <name>City of Montebello</name>
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        <name>Pennsylvania Higher Educational Facilities Authority</name>
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        <name>State of Illinois Sales Tax</name>
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        <name>Central Basin Municipal Water District</name>
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        <name>New York State Dormitory Authority</name>
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        <name>New York Power Authority</name>
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          <maturityDt>2047-11-15</maturityDt>
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        <name>Port of Portland Airport</name>
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        <name>JobsOhio Beverage System</name>
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        <name>State of New Jersey</name>
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        <name>Antonio B Won Pat International Airport Authority</name>
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        <invCountry>GU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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        <name>Oklahoma City Water Utilities Trust</name>
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        <name>New York State Dormitory Authority</name>
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        <name>Northwest Open Access Network</name>
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        <name>Southern New Hampshire University</name>
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        <name>Santa Monica Community College District</name>
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        <name>Compton Community Redevelopment Agency</name>
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        <name>New York Power Authority</name>
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        <name>MainStay U.S. Government Liquidity Fund</name>
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        <name>Transbay Joint Powers Authority</name>
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        <name>Maryland Stadium Authority</name>
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        <name>New York State Urban Development Corp.</name>
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        <name>New York State Energy Research &amp; Development Authority</name>
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        <name>City of Bayonne</name>
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          <maturityDt>2030-07-01</maturityDt>
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        <name>City of Chicago</name>
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          <maturityDt>2035-01-01</maturityDt>
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        <name>Brookhaven Local Development Corp.</name>
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          <maturityDt>2025-10-01</maturityDt>
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        <name>Rogers Memorial Hospital, Inc.</name>
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        <name>Southeast Alaska Regional Health Consortium</name>
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        <name>County of Salt Lake Convention Hotel</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>City of New York</name>
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        <name>County of Sacramento</name>
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        <name>Port of Oakland</name>
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        <name>Antonio B Won Pat International Airport Authority</name>
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        <invCountry>GU</invCountry>
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        <name>State of California</name>
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        <name>Idaho Housing &amp; Finance Association</name>
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        <name>University of Washington</name>
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        <name>Oregon State Lottery</name>
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        <name>San Antonio Education Facilities Corp.</name>
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        <name>FHLMC</name>
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          <maturityDt>2037-04-01</maturityDt>
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        <name>State of Illinois</name>
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        <name>Howard University</name>
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        <name>Water Works Board of the City of Birmingham (The)</name>
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        <name>State of Louisiana</name>
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        <name>Michigan Finance Authority</name>
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        <name>Ascension Health</name>
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        <name>Ohio Higher Educational Facility Commission</name>
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      <invstOrSec>
        <name>City of Lubbock Electric Light &amp; Power System</name>
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        <name>Oklahoma Municipal Power Authority</name>
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        <name>California Educational Facilities Authority</name>
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        <name>Reading Area Water Authority</name>
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        <name>University of California</name>
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        <name>County of Cook</name>
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        <name>Oregon State Lottery</name>
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        <name>State of New York</name>
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        <name>Virginia College Building Authority</name>
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        <name>Lake County Community Unit School District No. 187 North Chicago</name>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <name>FHLMC</name>
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      <invstOrSec>
        <name>New York State Urban Development Corp.</name>
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        <name>City &amp; County of Denver Airport System</name>
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        <name>State Public School Building Authority</name>
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        <name>Wylie Independent School District</name>
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          <maturityDt>2043-08-15</maturityDt>
          <couponKind>None</couponKind>
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        <name>California Statewide Communities Development Authority</name>
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        <name>New York State Energy Research &amp; Development Authority</name>
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        <name>New Jersey Turnpike Authority</name>
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        <name>City of Houston Airport System</name>
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        <name>Arizona Industrial Development Authority</name>
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        <name>Port Authority of Guam</name>
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        <name>County of Ohio Special District Excise Tax</name>
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        <name>American Municipal Power, Inc.</name>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Guam Government Waterworks Authority</name>
        <lei>N/A</lei>
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          <isin value="US40065FDG63"/>
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        <invCountry>GU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
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      <invstOrSec>
        <name>City of San Antonio</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Port Authority of New York &amp; New Jersey</name>
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          <isin value="US73358WAJ36"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-01</maturityDt>
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          <annualizedRt>6.04000000</annualizedRt>
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      <invstOrSec>
        <name>City of Columbia Waterworks &amp; Sewer System</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-01</maturityDt>
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        <name>California Municipal Finance Authority</name>
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          <isin value="US13048VPF93"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-01</maturityDt>
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          <annualizedRt>2.26200000</annualizedRt>
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        <name>New York State Dormitory Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-08-01</maturityDt>
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          <annualizedRt>4.94600000</annualizedRt>
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      <invstOrSec>
        <name>Farmville Industrial Development Authority</name>
        <lei>N/A</lei>
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        <valUSD>1987394.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gainesville Hospital District</name>
        <lei>N/A</lei>
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        <valUSD>1536224.02000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-08-15</maturityDt>
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          <annualizedRt>4.75300000</annualizedRt>
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      <invstOrSec>
        <name>Maryland Economic Development Corp.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-01</maturityDt>
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        <name>Santa Clarita Community College District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
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          <annualizedRt>2.76200000</annualizedRt>
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        <name>New York Transportation Development Corp.</name>
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          <maturityDt>2030-12-01</maturityDt>
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        <name>City of Los Angeles</name>
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          <maturityDt>2028-09-01</maturityDt>
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        <name>Silicon Valley Clean Water</name>
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          <maturityDt>2030-08-01</maturityDt>
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          <annualizedRt>1.93200000</annualizedRt>
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        <name>Maryland Economic Development Corp.</name>
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        <name>State of Washington</name>
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        <name>District of Columbia</name>
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          <maturityDt>2028-07-01</maturityDt>
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      <invstOrSec>
        <name>Alabama Federal Aid Highway Finance Authority</name>
        <lei>N/A</lei>
        <title>Alabama Federal Aid Highway Finance Authority</title>
        <cusip>010268CT5</cusip>
        <identifiers>
          <isin value="US010268CT50"/>
        </identifiers>
        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3089038.40000000</valUSD>
        <pctVal>0.542316356022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.05600000</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 Garland</name>
        <lei>549300O5KXJ5HAWVEN53</lei>
        <title>City of Garland</title>
        <cusip>366133SD9</cusip>
        <identifiers>
          <isin value="US366133SD91"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>888963.60000000</valUSD>
        <pctVal>0.156067823627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.17200000</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>Lynwood Housing Authority</name>
        <lei>N/A</lei>
        <title>Lynwood Housing Authority</title>
        <cusip>55178CAG8</cusip>
        <identifiers>
          <isin value="US55178CAG87"/>
        </identifiers>
        <balance>2370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2216335.13000000</valUSD>
        <pctVal>0.389103221062</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</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>
      <invstOrSec>
        <name>City of New York</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>City of New York</title>
        <cusip>64966MEB1</cusip>
        <identifiers>
          <isin value="US64966MEB19"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1912464.60000000</valUSD>
        <pctVal>0.335755241143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>2.52000000</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>Commonwealth of Massachusetts</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts</title>
        <cusip>57582RL79</cusip>
        <identifiers>
          <isin value="US57582RL794"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>838390.80000000</valUSD>
        <pctVal>0.147189184692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.77000000</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>Ohio State University (The)</name>
        <lei>JFC10ZULKO4X2E3HBY86</lei>
        <title>Ohio State University (The)</title>
        <cusip>677632QV6</cusip>
        <identifiers>
          <isin value="US677632QV63"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1007359.70000000</valUSD>
        <pctVal>0.176853625940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.67300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>San Luis Unit</name>
        <lei>N/A</lei>
        <title>San Luis Unit</title>
        <cusip>798736AE4</cusip>
        <identifiers>
          <isin value="US798736AE46"/>
        </identifiers>
        <balance>1150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1046478.27000000</valUSD>
        <pctVal>0.183721342552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.41200000</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>New Jersey Economic Development Authority</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>New Jersey Economic Development Authority</title>
        <cusip>645913AA2</cusip>
        <identifiers>
          <isin value="US645913AA22"/>
        </identifiers>
        <balance>6534000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7456351.85000000</valUSD>
        <pctVal>1.309048655567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.42500000</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>New Jersey Turnpike Authority</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>New Jersey Turnpike Authority</title>
        <cusip>646140DU4</cusip>
        <identifiers>
          <isin value="US646140DU44"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4257411.50000000</valUSD>
        <pctVal>0.747437743334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.86300000</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 Houston</name>
        <lei>N/A</lei>
        <title>City of Houston</title>
        <cusip>442349EQ5</cusip>
        <identifiers>
          <isin value="US442349EQ59"/>
        </identifiers>
        <balance>3250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2980528.85000000</valUSD>
        <pctVal>0.523266251708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.08500000</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>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>North Texas Tollway Authority</title>
        <cusip>66285WB88</cusip>
        <identifiers>
          <isin value="US66285WB885"/>
        </identifiers>
        <balance>1505000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1351499.78000000</valUSD>
        <pctVal>0.237271390299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.72700000</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>Maryland Stadium Authority</name>
        <lei>549300VA283TTQRDNF71</lei>
        <title>Maryland Stadium Authority</title>
        <cusip>574296CD9</cusip>
        <identifiers>
          <isin value="US574296CD91"/>
        </identifiers>
        <balance>1715000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1583444.75000000</valUSD>
        <pctVal>0.277992007734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2022-08-31</ncom:dateSigned>
      <ncom:nameOfApplicant>MAINSTAY FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Jack Benintende</ncom:signature>
      <ncom:signerName>Jack Benintende</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
