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                <name>DALLAS AREA MUNICIPAL AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>235171AL9</cusip>
                <identifiers>
                    <isin value="US235171AL91"/>
                </identifiers>
                <balance>1500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1503100.05</valUSD>
                <pctVal>1.274378797656</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2029-05-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>70869PHS9</cusip>
                <identifiers>
                    <isin value="US70869PHS92"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1021176.6</valUSD>
                <pctVal>0.865787881320</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2034-02-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>CHESTER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>165588CX0</cusip>
                <identifiers>
                    <isin value="US165588CX00"/>
                </identifiers>
                <balance>400000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>405233.2</valUSD>
                <pctVal>0.343570341965</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2034-10-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>70869PHV2</cusip>
                <identifiers>
                    <isin value="US70869PHV22"/>
                </identifiers>
                <balance>250000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>253498.55</valUSD>
                <pctVal>0.214924600233</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2034-12-31</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>SCHOOL DISTRICT OF PHILADELPHIA/THE</name>
                <lei>254900HSKDHZKBZCUL90</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>717883QM7</cusip>
                <identifiers>
                    <isin value="US717883QM72"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1042185.7</valUSD>
                <pctVal>0.883600103200</pctVal>
                <payoffProfile>Long</payoffProfile>
                <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>5</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 SHORE AREA AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>95581QAL3</cusip>
                <identifiers>
                    <isin value="US95581QAL32"/>
                </identifiers>
                <balance>500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>494920.4</valUSD>
                <pctVal>0.419610167858</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2035-07-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PENNSYLVANIA TURNPIKE COMMISSION</name>
                <lei>549300J8LLBYEYEXZJ24</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>709224HN2</cusip>
                <identifiers>
                    <isin value="US709224HN28"/>
                </identifiers>
                <balance>2500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>2566016.25</valUSD>
                <pctVal>2.175554916281</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2040-12-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>COUNTY OF CHESTER PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>165573F35</cusip>
                <identifiers>
                    <isin value="US165573F359"/>
                </identifiers>
                <balance>750000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>797020.8</valUSD>
                <pctVal>0.675741051842</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2036-07-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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 LANCASTER PA</name>
                <lei>549300BGOEKNNN4HPE68</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>514282WA6</cusip>
                <identifiers>
                    <isin value="US514282WA68"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>970448.7</valUSD>
                <pctVal>0.822779060843</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2046-11-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>PENNSYLVANIA TURNPIKE COMMISSION</name>
                <lei>549300J8LLBYEYEXZJ24</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>709224PK9</cusip>
                <identifiers>
                    <isin value="US709224PK96"/>
                </identifiers>
                <balance>2000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>2069722.8</valUSD>
                <pctVal>1.754780630434</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2036-06-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>CUMBERLAND COUNTY MUNICIPAL AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>230614LD9</cusip>
                <identifiers>
                    <isin value="US230614LD94"/>
                </identifiers>
                <balance>700000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>711144.98</valUSD>
                <pctVal>0.602932642156</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2032-01-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>613609D60</cusip>
                <identifiers>
                    <isin value="US613609D602"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>986246.1</valUSD>
                <pctVal>0.836172628103</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2046-12-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>61360PCK4</cusip>
                <identifiers>
                    <isin value="US61360PCK49"/>
                </identifiers>
                <balance>1500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1501557.75</valUSD>
                <pctVal>1.273071183821</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2036-11-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>COUNTY OF LEHIGH PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>52480GCV4</cusip>
                <identifiers>
                    <isin value="US52480GCV41"/>
                </identifiers>
                <balance>350000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>369599.16</valUSD>
                <pctVal>0.313358603864</pctVal>
                <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>Fixed</couponKind>
                    <annualizedRt>5</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>DOYLESTOWN HOSPITAL AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>261333FA1</cusip>
                <identifiers>
                    <isin value="US261333FA17"/>
                </identifiers>
                <balance>600000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>538177.44</valUSD>
                <pctVal>0.456284941852</pctVal>
                <payoffProfile>Long</payoffProfile>
                <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</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>PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>709181CA7</cusip>
                <identifiers>
                    <isin value="US709181CA78"/>
                </identifiers>
                <balance>730000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>705493.17</valUSD>
                <pctVal>0.598140847470</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2035-07-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>SCHOOL DISTRICT OF PHILADELPHIA/THE</name>
                <lei>254900HSKDHZKBZCUL90</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>717883TM4</cusip>
                <identifiers>
                    <isin value="US717883TM46"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1035955.9</valUSD>
                <pctVal>0.878318269144</pctVal>
                <payoffProfile>Long</payoffProfile>
                <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>5</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 ERIE HIGHER EDUCATION BUILDING AUTHORITY</name>
                <lei>549300JDMWBZICIGLV66</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>295435BM2</cusip>
                <identifiers>
                    <isin value="US295435BM20"/>
                </identifiers>
                <balance>750000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>762198.9</valUSD>
                <pctVal>0.646217873359</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2034-05-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>LANCASTER COUNTY HOSPITAL AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>514045S46</cusip>
                <identifiers>
                    <isin value="US514045S466"/>
                </identifiers>
                <balance>300000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>281081.7</valUSD>
                <pctVal>0.238310522902</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2037-07-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5.125</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 PITTSBURGH PA</name>
                <lei>549300EZQQVTL1QEIU17</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>725209LP3</cusip>
                <identifiers>
                    <isin value="US725209LP33"/>
                </identifiers>
                <balance>300000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>325261.83</valUSD>
                <pctVal>0.275767923658</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</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>GEISINGER AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>368497JM6</cusip>
                <identifiers>
                    <isin value="US368497JM63"/>
                </identifiers>
                <balance>2155000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>2202947.03</valUSD>
                <pctVal>1.867732615264</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2039-02-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>CAPITAL REGION WATER</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>14044TAV7</cusip>
                <identifiers>
                    <isin value="US14044TAV70"/>
                </identifiers>
                <balance>2000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>2134845.4</valUSD>
                <pctVal>1.809993761914</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2042-07-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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 PHILADELPHIA PA</name>
                <lei>549300IVFOPB4AG7UL47</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>717813VW6</cusip>
                <identifiers>
                    <isin value="US717813VW60"/>
                </identifiers>
                <balance>500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>527526.75</valUSD>
                <pctVal>0.447254928503</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2037-08-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PENNSYLVANIA TURNPIKE COMMISSION</name>
                <lei>549300J8LLBYEYEXZJ24</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>709224WQ8</cusip>
                <identifiers>
                    <isin value="US709224WQ83"/>
                </identifiers>
                <balance>675000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>695268.43</valUSD>
                <pctVal>0.589471968863</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2042-06-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>READING SCHOOL DISTRICT</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>755638ZH9</cusip>
                <identifiers>
                    <isin value="US755638ZH92"/>
                </identifiers>
                <balance>1250000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1303250.75</valUSD>
                <pctVal>1.104939836725</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2038-03-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PHILADELPHIA GAS WORKS CO</name>
                <lei>549300H8UJ7V5WU5IA90</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>71783MAZ8</cusip>
                <identifiers>
                    <isin value="US71783MAZ86"/>
                </identifiers>
                <balance>2500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>2580749.25</valUSD>
                <pctVal>2.188046049407</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2047-08-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>LACKAWANNA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>505493AY2</cusip>
                <identifiers>
                    <isin value="US505493AY28"/>
                </identifiers>
                <balance>1500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1366873.95</valUSD>
                <pctVal>1.158881726434</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2040-11-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>SCRANTON SCHOOL DISTRICT/PA</name>
                <lei>549300SDNGI3OKNOUW62</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>810827XJ9</cusip>
                <identifiers>
                    <isin value="US810827XJ96"/>
                </identifiers>
                <balance>1925000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1928204.55</valUSD>
                <pctVal>1.634796696376</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2037-12-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>PENNSYLVANIA TURNPIKE COMMISSION</name>
                <lei>549300J8LLBYEYEXZJ24</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>709224ZY8</cusip>
                <identifiers>
                    <isin value="US709224ZY80"/>
                </identifiers>
                <balance>1295000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1353568.84</valUSD>
                <pctVal>1.147601206495</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2037-12-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>SPORTS  AND  EXHIBITION AUTHORITY OF PITTSBURGH AND ALLEGHENY COUNTY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>724792BK1</cusip>
                <identifiers>
                    <isin value="US724792BK10"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1070156</valUSD>
                <pctVal>0.907314264665</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2033-12-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>SPORTS  AND  EXHIBITION AUTHORITY OF PITTSBURGH AND ALLEGHENY COUNTY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>724792BM7</cusip>
                <identifiers>
                    <isin value="US724792BM75"/>
                </identifiers>
                <balance>625000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>667370.94</valUSD>
                <pctVal>0.565819538165</pctVal>
                <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>5</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>SPORTS  AND  EXHIBITION AUTHORITY OF PITTSBURGH AND ALLEGHENY COUNTY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>724792BP0</cusip>
                <identifiers>
                    <isin value="US724792BP07"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1066190.6</valUSD>
                <pctVal>0.903952265120</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2037-12-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>70917SV26</cusip>
                <identifiers>
                    <isin value="US70917SV263"/>
                </identifiers>
                <balance>2000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1998018.6</valUSD>
                <pctVal>1.693987397021</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2034-05-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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 FINANCING AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>20282EAQ9</cusip>
                <identifiers>
                    <isin value="US20282EAQ98"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1080145.1</valUSD>
                <pctVal>0.915783359751</pctVal>
                <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>5</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 FINANCING AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>20282EAP1</cusip>
                <identifiers>
                    <isin value="US20282EAP16"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1084836.1</valUSD>
                <pctVal>0.919760547391</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>5</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>ERIE CITY WATER AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>295542NU4</cusip>
                <identifiers>
                    <isin value="US295542NU42"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1054878.2</valUSD>
                <pctVal>0.894361231768</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2043-12-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>SCHOOL DISTRICT OF PHILADELPHIA/THE</name>
                <lei>254900HSKDHZKBZCUL90</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>717883VA7</cusip>
                <identifiers>
                    <isin value="US717883VA79"/>
                </identifiers>
                <balance>1575000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1701429.66</valUSD>
                <pctVal>1.442529314270</pctVal>
                <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>5</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 PENNSYLVANIA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>709144NW5</cusip>
                <identifiers>
                    <isin value="US709144NW59"/>
                </identifiers>
                <balance>1600000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1724679.04</valUSD>
                <pctVal>1.462240920913</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2037-07-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>WILKES-BARRE AREA SCHOOL DISTRICT/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>968261NS2</cusip>
                <identifiers>
                    <isin value="US968261NS21"/>
                </identifiers>
                <balance>2000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>2054128.8</valUSD>
                <pctVal>1.741559512538</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2059-04-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>SCHOOL DISTRICT OF THE CITY OF ERIE/THE</name>
                <lei>549300VQZWUO5J8WLO42</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>295425TE2</cusip>
                <identifiers>
                    <isin value="US295425TE22"/>
                </identifiers>
                <balance>1150000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1192869.01</valUSD>
                <pctVal>1.011354483505</pctVal>
                <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>Fixed</couponKind>
                    <annualizedRt>4</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>LANCASTER COUNTY HOSPITAL AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>51404PAJ8</cusip>
                <identifiers>
                    <isin value="US51404PAJ84"/>
                </identifiers>
                <balance>1235000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1118572.85</valUSD>
                <pctVal>0.948363699192</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2044-06-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>LANCASTER COUNTY HOSPITAL AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>51404PAK5</cusip>
                <identifiers>
                    <isin value="US51404PAK57"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>883689.4</valUSD>
                <pctVal>0.749221607087</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2049-06-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>TERRITORY OF GUAM</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>40065BCQ4</cusip>
                <identifiers>
                    <isin value="US40065BCQ41"/>
                </identifiers>
                <balance>630000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>649092.02</valUSD>
                <pctVal>0.550322054753</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>GU</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2031-11-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>LANCASTER INDUSTRIAL DEVELOPMENT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>514349CZ0</cusip>
                <identifiers>
                    <isin value="US514349CZ07"/>
                </identifiers>
                <balance>1550000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1459524.49</valUSD>
                <pctVal>1.237433971687</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2049-12-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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 PHILADELPHIA PA</name>
                <lei>549300IVFOPB4AG7UL47</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>717813XM6</cusip>
                <identifiers>
                    <isin value="US717813XM60"/>
                </identifiers>
                <balance>1250000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1332762.38</valUSD>
                <pctVal>1.129960789626</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2037-02-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT</name>
                <lei>549300DIY68KQZEW7M79</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>71781XFW8</cusip>
                <identifiers>
                    <isin value="US71781XFW83"/>
                </identifiers>
                <balance>500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>458788.75</valUSD>
                <pctVal>0.388976539255</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2049-06-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>ERIE CITY WATER AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>295542QY3</cusip>
                <identifiers>
                    <isin value="US295542QY37"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>976903.3</valUSD>
                <pctVal>0.828251487903</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2044-12-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>BUCKS COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>11861MAN6</cusip>
                <identifiers>
                    <isin value="US11861MAN65"/>
                </identifiers>
                <balance>1500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1418666.7</valUSD>
                <pctVal>1.202793362571</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2039-08-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>ALASKA INDUSTRIAL DEVELOPMENT  AND  EXPORT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>011903FZ9</cusip>
                <identifiers>
                    <isin value="US011903FZ90"/>
                </identifiers>
                <balance>1250000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1348818.63</valUSD>
                <pctVal>1.143573818626</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2030-10-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>CUMBERLAND COUNTY MUNICIPAL AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>230614PC7</cusip>
                <identifiers>
                    <isin value="US230614PC75"/>
                </identifiers>
                <balance>1500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1398487.95</valUSD>
                <pctVal>1.185685139360</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2044-11-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>CUMBERLAND COUNTY MUNICIPAL AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>230614PN3</cusip>
                <identifiers>
                    <isin value="US230614PN31"/>
                </identifiers>
                <balance>500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>454573.5</valUSD>
                <pctVal>0.385402708473</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2045-01-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>70917S6P3</cusip>
                <identifiers>
                    <isin value="US70917S6P32"/>
                </identifiers>
                <balance>550000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>608073.07</valUSD>
                <pctVal>0.515544808766</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2033-08-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT</name>
                <lei>549300DIY68KQZEW7M79</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>71781XGA5</cusip>
                <identifiers>
                    <isin value="US71781XGA54"/>
                </identifiers>
                <balance>1375000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1226323.73</valUSD>
                <pctVal>1.039718520782</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2050-06-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>LANCASTER COUNTY HOSPITAL AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>514045V67</cusip>
                <identifiers>
                    <isin value="US514045V676"/>
                </identifiers>
                <balance>500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>423262.6</valUSD>
                <pctVal>0.358856273926</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2045-03-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT</name>
                <lei>549300DIY68KQZEW7M79</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>71780TAY9</cusip>
                <identifiers>
                    <isin value="US71780TAY91"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>954147.7</valUSD>
                <pctVal>0.808958524558</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2038-11-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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 PITTSBURGH PA</name>
                <lei>549300EZQQVTL1QEIU17</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>725209ND8</cusip>
                <identifiers>
                    <isin value="US725209ND84"/>
                </identifiers>
                <balance>350000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>354558.68</valUSD>
                <pctVal>0.300606778848</pctVal>
                <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>4</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 PITTSBURGH PA</name>
                <lei>549300EZQQVTL1QEIU17</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>725209NE6</cusip>
                <identifiers>
                    <isin value="US725209NE67"/>
                </identifiers>
                <balance>300000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>302747.16</valUSD>
                <pctVal>0.256679228874</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2039-09-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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 PITTSBURGH PA</name>
                <lei>549300EZQQVTL1QEIU17</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>725209MY3</cusip>
                <identifiers>
                    <isin value="US725209MY31"/>
                </identifiers>
                <balance>245000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>254581.39</valUSD>
                <pctVal>0.215842668420</pctVal>
                <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</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 PITTSBURGH PA</name>
                <lei>549300EZQQVTL1QEIU17</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>725209MZ0</cusip>
                <identifiers>
                    <isin value="US725209MZ06"/>
                </identifiers>
                <balance>250000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>257481.43</valUSD>
                <pctVal>0.218301419910</pctVal>
                <payoffProfile>Long</payoffProfile>
                <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>4</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 PITTSBURGH PA</name>
                <lei>549300EZQQVTL1QEIU17</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>725209NB2</cusip>
                <identifiers>
                    <isin value="US725209NB29"/>
                </identifiers>
                <balance>275000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>280288.22</valUSD>
                <pctVal>0.237637783859</pctVal>
                <payoffProfile>Long</payoffProfile>
                <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</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>MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>61360PCL2</cusip>
                <identifiers>
                    <isin value="US61360PCL22"/>
                </identifiers>
                <balance>550000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>460780.6</valUSD>
                <pctVal>0.390665296705</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2043-11-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT</name>
                <lei>549300DIY68KQZEW7M79</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>71780CAK6</cusip>
                <identifiers>
                    <isin value="US71780CAK62"/>
                </identifiers>
                <balance>1050000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1042967.52</valUSD>
                <pctVal>0.884262956502</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2050-08-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT</name>
                <lei>549300DIY68KQZEW7M79</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>71780CAJ9</cusip>
                <identifiers>
                    <isin value="US71780CAJ99"/>
                </identifiers>
                <balance>615000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>620013.23</valUSD>
                <pctVal>0.525668078168</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2040-08-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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 PHILADELPHIA PA WATER  AND  WASTEWATER REVENUE</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>717893Q46</cusip>
                <identifiers>
                    <isin value="US717893Q468"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1060987.5</valUSD>
                <pctVal>0.899540901870</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2045-11-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>70870FAR7</cusip>
                <identifiers>
                    <isin value="US70870FAR73"/>
                </identifiers>
                <balance>650000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>652443.03</valUSD>
                <pctVal>0.553163153783</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2029-01-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>KANSAS CITY INDUSTRIAL DEVELOPMENT AUTHORITY</name>
                <lei>549300QWDXL46XQC8110</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>48504NCL1</cusip>
                <identifiers>
                    <isin value="US48504NCL10"/>
                </identifiers>
                <balance>1300000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1312847.12</valUSD>
                <pctVal>1.113075962103</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2057-03-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>STATE PUBLIC SCHOOL BUILDING AUTHORITY</name>
                <lei>5493006JN0UR7OGWTO86</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>85732TKW1</cusip>
                <identifiers>
                    <isin value="US85732TKW17"/>
                </identifiers>
                <balance>595000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>621832.12</valUSD>
                <pctVal>0.527210194311</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2033-12-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BENTWORTH SCHOOL DISTRICT</name>
                <lei>2549006OR9I82JFZ8V83</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>083424GY1</cusip>
                <identifiers>
                    <isin value="US083424GY16"/>
                </identifiers>
                <balance>1430000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1415499.23</valUSD>
                <pctVal>1.200107874928</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2028-11-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>3</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>STATE PUBLIC SCHOOL BUILDING AUTHORITY</name>
                <lei>5493006JN0UR7OGWTO86</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>85732M6H5</cusip>
                <identifiers>
                    <isin value="US85732M6H56"/>
                </identifiers>
                <balance>640000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>666541.25</valUSD>
                <pctVal>0.565116099067</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2030-03-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>STATE PUBLIC SCHOOL BUILDING AUTHORITY</name>
                <lei>5493006JN0UR7OGWTO86</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>85732M6J1</cusip>
                <identifiers>
                    <isin value="US85732M6J13"/>
                </identifiers>
                <balance>490000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>509746.66</valUSD>
                <pctVal>0.432180369949</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2031-03-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT</name>
                <lei>549300DIY68KQZEW7M79</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>71780CAZ3</cusip>
                <identifiers>
                    <isin value="US71780CAZ32"/>
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                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>938822.4</valUSD>
                <pctVal>0.795965219563</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2040-06-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>GOVERNOR MIFFLIN SCHOOL DISTRICT</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>383770JN5</cusip>
                <identifiers>
                    <isin value="US383770JN51"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1007554.8</valUSD>
                <pctVal>0.854238860943</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2039-04-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CITY OF PITTSBURGH PA</name>
                <lei>549300EZQQVTL1QEIU17</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>725209QC7</cusip>
                <identifiers>
                    <isin value="US725209QC74"/>
                </identifiers>
                <balance>585000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>585479.99</valUSD>
                <pctVal>0.496389635346</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2041-09-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>WEST CORNWALL TOWNSHIP MUNICIPAL AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>95235TAT0</cusip>
                <identifiers>
                    <isin value="US95235TAT07"/>
                </identifiers>
                <balance>525000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>437369.05</valUSD>
                <pctVal>0.370816196880</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2046-11-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>WEST CORNWALL TOWNSHIP MUNICIPAL AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>95235TAR4</cusip>
                <identifiers>
                    <isin value="US95235TAR41"/>
                </identifiers>
                <balance>365000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>328641.77</valUSD>
                <pctVal>0.278633550516</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2036-11-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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 CORNWALL TOWNSHIP MUNICIPAL AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>95235TAS2</cusip>
                <identifiers>
                    <isin value="US95235TAS24"/>
                </identifiers>
                <balance>370000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>321320.91</valUSD>
                <pctVal>0.272426679081</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2041-11-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>TERRITORY OF GUAM</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>40065KAV5</cusip>
                <identifiers>
                    <isin value="US40065KAV52"/>
                </identifiers>
                <balance>425000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>426132.71</valUSD>
                <pctVal>0.361289649755</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>GU</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2040-11-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>TERRITORY OF GUAM</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>40065NCR6</cusip>
                <identifiers>
                    <isin value="US40065NCR61"/>
                </identifiers>
                <balance>1300000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1129810.24</valUSD>
                <pctVal>0.957891136542</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>GU</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2042-01-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>613609K96</cusip>
                <identifiers>
                    <isin value="US613609K961"/>
                </identifiers>
                <balance>450000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>410432.94</valUSD>
                <pctVal>0.347978856494</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2036-10-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>613609L20</cusip>
                <identifiers>
                    <isin value="US613609L209"/>
                </identifiers>
                <balance>425000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>365460.18</valUSD>
                <pctVal>0.309849437354</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2041-10-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>613609L38</cusip>
                <identifiers>
                    <isin value="US613609L381"/>
                </identifiers>
                <balance>625000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>513681.94</valUSD>
                <pctVal>0.435516832745</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2046-10-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>613609L46</cusip>
                <identifiers>
                    <isin value="US613609L464"/>
                </identifiers>
                <balance>800000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>636241.76</valUSD>
                <pctVal>0.539427171948</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2051-10-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CITY OF PHILADELPHIA PA AIRPORT REVENUE</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>717817XY1</cusip>
                <identifiers>
                    <isin value="US717817XY13"/>
                </identifiers>
                <balance>500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>451876.5</valUSD>
                <pctVal>0.383116101126</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2046-07-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CITY OF PHILADELPHIA PA AIRPORT REVENUE</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>717817XW5</cusip>
                <identifiers>
                    <isin value="US717817XW56"/>
                </identifiers>
                <balance>300000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>283990.47</valUSD>
                <pctVal>0.240776675980</pctVal>
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                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2040-07-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CITY OF PHILADELPHIA PA AIRPORT REVENUE</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>717817XX3</cusip>
                <identifiers>
                    <isin value="US717817XX30"/>
                </identifiers>
                <balance>400000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>375821.08</valUSD>
                <pctVal>0.318633756990</pctVal>
                <payoffProfile>Long</payoffProfile>
                <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>4</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
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                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ALLEGHENY COUNTY AIRPORT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>01728LFL1</cusip>
                <identifiers>
                    <isin value="US01728LFL18"/>
                </identifiers>
                <balance>750000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>648171</valUSD>
                <pctVal>0.549541183007</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2056-01-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>ALLEGHENY COUNTY AIRPORT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>01728LFJ6</cusip>
                <identifiers>
                    <isin value="US01728LFJ61"/>
                </identifiers>
                <balance>400000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>407719.2</valUSD>
                <pctVal>0.345678056412</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2051-01-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>ALLEGHENY COUNTY AIRPORT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>01728LFK3</cusip>
                <identifiers>
                    <isin value="US01728LFK35"/>
                </identifiers>
                <balance>250000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>253549.05</valUSD>
                <pctVal>0.214967415832</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2056-01-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>LANCASTER INDUSTRIAL DEVELOPMENT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>51434NAS7</cusip>
                <identifiers>
                    <isin value="US51434NAS71"/>
                </identifiers>
                <balance>1500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1147522.95</valUSD>
                <pctVal>0.972908568064</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2051-07-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>LANCASTER COUNTY HOSPITAL AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>514045W66</cusip>
                <identifiers>
                    <isin value="US514045W666"/>
                </identifiers>
                <balance>1500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1528058.1</valUSD>
                <pctVal>1.295539072217</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2051-11-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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 HIGHER EDUCATIONAL FACILITY COMMISSION</name>
                <lei>5493007MQT6NGNN6BR81</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>677510BW8</cusip>
                <identifiers>
                    <isin value="US677510BW82"/>
                </identifiers>
                <balance>390000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>378932.11</valUSD>
                <pctVal>0.321271392902</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2033-07-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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 HIGHER EDUCATIONAL FACILITY COMMISSION</name>
                <lei>5493007MQT6NGNN6BR81</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>677510BX6</cusip>
                <identifiers>
                    <isin value="US677510BX65"/>
                </identifiers>
                <balance>405000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>387652.31</valUSD>
                <pctVal>0.328664671873</pctVal>
                <payoffProfile>Long</payoffProfile>
                <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>4</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 HIGHER EDUCATIONAL FACILITY COMMISSION</name>
                <lei>5493007MQT6NGNN6BR81</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>677510BQ1</cusip>
                <identifiers>
                    <isin value="US677510BQ15"/>
                </identifiers>
                <balance>640000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>637536</valUSD>
                <pctVal>0.540524472168</pctVal>
                <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>Fixed</couponKind>
                    <annualizedRt>4</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>DELAWARE RIVER  AND  BAY AUTHORITY</name>
                <lei>549300DIIIT0MBXYHJ34</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>246317HY0</cusip>
                <identifiers>
                    <isin value="US246317HY00"/>
                </identifiers>
                <balance>1100000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1277442.98</valUSD>
                <pctVal>1.083059140957</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2033-01-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>ALLEGHENY COUNTY HIGHER EDUCATION BUILDING AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>01728RPE3</cusip>
                <identifiers>
                    <isin value="US01728RPE35"/>
                </identifiers>
                <balance>1055000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1170142.7</valUSD>
                <pctVal>0.992086353208</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2030-03-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>ALLEGHENY COUNTY HIGHER EDUCATION BUILDING AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>01728RPJ2</cusip>
                <identifiers>
                    <isin value="US01728RPJ22"/>
                </identifiers>
                <balance>640000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>716855.74</valUSD>
                <pctVal>0.607774416636</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2034-03-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>BETHLEHEM REDEVELOPMENT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>087470AZ3</cusip>
                <identifiers>
                    <isin value="US087470AZ31"/>
                </identifiers>
                <balance>500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>531563.75</valUSD>
                <pctVal>0.450677632938</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2031-10-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>BETHLEHEM REDEVELOPMENT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>087470AY6</cusip>
                <identifiers>
                    <isin value="US087470AY65"/>
                </identifiers>
                <balance>1260000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1337859.31</valUSD>
                <pctVal>1.134282138378</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2030-10-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>WILKES-BARRE FINANCE AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>968254CB6</cusip>
                <identifiers>
                    <isin value="US968254CB63"/>
                </identifiers>
                <balance>1400000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1173137.84</valUSD>
                <pctVal>0.994625733678</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2042-03-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>SPORTS  AND  EXHIBITION AUTHORITY OF PITTSBURGH AND ALLEGHENY COUNTY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>724791CF3</cusip>
                <identifiers>
                    <isin value="US724791CF33"/>
                </identifiers>
                <balance>1325000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1452702.97</valUSD>
                <pctVal>1.231650457506</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2029-02-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>BUCKS COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>118618AP2</cusip>
                <identifiers>
                    <isin value="US118618AP21"/>
                </identifiers>
                <balance>250000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>245375.95</valUSD>
                <pctVal>0.208037986649</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2042-11-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PITTSBURGH SCHOOL DISTRICT</name>
                <lei>549300DCE2NGMJO6P377</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>725277RF6</cusip>
                <identifiers>
                    <isin value="US725277RF69"/>
                </identifiers>
                <balance>995000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>852874.6</valUSD>
                <pctVal>0.723095782812</pctVal>
                <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>3</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>MATCHING FUND SPECIAL PURPOSE SECURITIZATION CORP</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>57665NAE5</cusip>
                <identifiers>
                    <isin value="US57665NAE58"/>
                </identifiers>
                <balance>320000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>330179.65</valUSD>
                <pctVal>0.279937416925</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>VI</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2030-10-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>70870JEB0</cusip>
                <identifiers>
                    <isin value="US70870JEB08"/>
                </identifiers>
                <balance>1500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1585736.85</valUSD>
                <pctVal>1.344441057201</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2039-02-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>70870JEA2</cusip>
                <identifiers>
                    <isin value="US70870JEA25"/>
                </identifiers>
                <balance>1750000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1862672.7</valUSD>
                <pctVal>1.579236588976</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2038-02-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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 PENNSYLVANIA</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>70914PZ62</cusip>
                <identifiers>
                    <isin value="US70914PZ622"/>
                </identifiers>
                <balance>1250000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1396029.25</valUSD>
                <pctVal>1.183600570772</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2042-10-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>CHESTER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>165588FN9</cusip>
                <identifiers>
                    <isin value="US165588FN90"/>
                </identifiers>
                <balance>750000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>728653.5</valUSD>
                <pctVal>0.617776954526</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2052-10-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>6</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>SOUTHEASTERN PENNSYLVANIA TRANSPORTATION AUTHORITY</name>
                <lei>98450061A2F3FD36E493</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>842039FR5</cusip>
                <identifiers>
                    <isin value="US842039FR53"/>
                </identifiers>
                <balance>1750000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1907647</valUSD>
                <pctVal>1.617367313780</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2052-06-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5.25</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>PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY</name>
                <lei>N/A</lei>
                <title>FX.RT. MUNI BOND</title>
                <cusip>708692AH1</cusip>
                <identifiers>
                    <isin value="US708692AH10"/>
                </identifiers>
                <balance>1155000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1312232.11</valUSD>
                <pctVal>1.112554535932</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2031-03-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5.375</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>LANCASTER COUNTY CONVENTION CENTER AUTHORITY</name>
                <lei>549300F347A3TMO7B762</lei>
                <title>MUNI ORIG ISSUE DISC</title>
                <cusip>514042BC3</cusip>
                <identifiers>
                    <isin value="US514042BC39"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>926014.6</valUSD>
                <pctVal>0.785106335775</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2049-05-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT</name>
                <lei>549300DIY68KQZEW7M79</lei>
                <title>MUNI ORIG ISSUE DISC</title>
                <cusip>71780TBM4</cusip>
                <identifiers>
                    <isin value="US71780TBM45"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1039021.7</valUSD>
                <pctVal>0.880917557540</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2060-11-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5.5</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>INDIANA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY</name>
                <lei>N/A</lei>
                <title>MUNI ORIG ISSUE DISC</title>
                <cusip>45469NEZ7</cusip>
                <identifiers>
                    <isin value="US45469NEZ78"/>
                </identifiers>
                <balance>1245000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1151546.69</valUSD>
                <pctVal>0.976320030224</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2054-05-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>4</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>CHESTER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY</name>
                <lei>N/A</lei>
                <title>MUNI ORIG ISSUE DISC</title>
                <cusip>165588DK7</cusip>
                <identifiers>
                    <isin value="US165588DK79"/>
                </identifiers>
                <balance>225000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>216933.19</valUSD>
                <pctVal>0.183923257699</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2037-10-15</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5.125</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>LANCASTER COUNTY HOSPITAL AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>MUNI ORIG ISSUE DISC</title>
                <cusip>514045J20</cusip>
                <identifiers>
                    <isin value="US514045J200"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>938202.7</valUSD>
                <pctVal>0.795439817052</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2045-07-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>5</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>PENNSYLVANIA TURNPIKE COMMISSION</name>
                <lei>549300J8LLBYEYEXZJ24</lei>
                <title>MUNI STEP UP BOND</title>
                <cusip>709224DX4</cusip>
                <identifiers>
                    <isin value="US709224DX46"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1029959.8</valUSD>
                <pctVal>0.873234573811</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2037-12-01</maturityDt>
                    <couponKind>Variable</couponKind>
                    <annualizedRt>4.75</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>PENNSYLVANIA FINANCE AUTHORITY</name>
                <lei>N/A</lei>
                <title>MUNI. ZERO</title>
                <cusip>70915CEF3</cusip>
                <identifiers>
                    <isin value="US70915CEF32"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>834564.1</valUSD>
                <pctVal>0.707571524813</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2027-12-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>0</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>PENNSYLVANIA TURNPIKE COMMISSION</name>
                <lei>549300J8LLBYEYEXZJ24</lei>
                <title>MUNI. ZERO</title>
                <cusip>709221SB2</cusip>
                <identifiers>
                    <isin value="US709221SB22"/>
                </identifiers>
                <balance>3000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1530818.7</valUSD>
                <pctVal>1.297879601783</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2038-12-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>0</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>PUTNAM SHORT TERM INVESTMENT FUND</name>
                <lei>5493003MK0Q7JP8CPP42</lei>
                <title>SHORT TERM INV FUND</title>
                <cusip>74676P664</cusip>
                <identifiers>
                    <isin value="US74676P6640"/>
                </identifiers>
                <balance>1328161</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1328161</valUSD>
                <pctVal>1.126059584838</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>STIV</assetCat>
                <issuerCat>PF</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MORGAN STANLEY AND CO. INTERNATIONAL</name>
                <lei>4PQUHN3JPFGFNF3BB653</lei>
                <title>Spread Swap</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2625238"/>
                </identifiers>
                <balance>925000</balance>
                <units>NC</units>
                <curCd>USD</curCd>
                <valUSD>3404</valUSD>
                <pctVal>0.002886025735</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DIR</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <swapDeriv derivCat="SWP">
                        <counterparties>
                            <counterpartyName>MORGAN STANLEY AND CO. INTERNATIONAL</counterpartyName>
                            <counterpartyLei>4PQUHN3JPFGFNF3BB653</counterpartyLei>
                        </counterparties>
                        <swapFlag>Y</swapFlag>
                        <fixedRecDesc amount="0" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.55"/>
                        <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Municipal Market Data Index AAA municipal yields 30 Year rate" floatingRtSpread="0" pmntAmt="0">
                            <rtResetTenors>
<rtResetTenor rateTenor="Day" rateTenorUnit="0" resetDt="Day" resetDtUnit="0"/>
                            </rtResetTenors>
                        </floatingPmntDesc>
                        <terminationDt>2022-12-08</terminationDt>
                        <upfrontPmnt>0</upfrontPmnt>
                        <pmntCurCd>USD</pmntCurCd>
                        <upfrontRcpt>0</upfrontRcpt>
                        <rcptCurCd>USD</rcptCurCd>
                        <notionalAmt>925000</notionalAmt>
                        <curCd>USD</curCd>
                        <unrealizedAppr>-3404</unrealizedAppr>
                    </swapDeriv>
                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>UNITED STATES OF AMERICA</name>
                <lei>254900HROIFWPRGM1V77</lei>
                <title>U.S. T BILLS</title>
                <cusip>912796P94</cusip>
                <identifiers>
                    <isin value="US912796P948"/>
                </identifiers>
                <balance>200000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>200000</valUSD>
                <pctVal>0.169566729461</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>UST</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2022-12-01</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>0</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 ROCHESTER MN</name>
                <lei>549300006EX3INSHXA95</lei>
                <title>VAR.RT.MUNI NOTE NT</title>
                <cusip>771902FC2</cusip>
                <identifiers>
                    <isin value="US771902FC22"/>
                </identifiers>
                <balance>500000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>500000</valUSD>
                <pctVal>0.423916823652</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2038-11-15</maturityDt>
                    <couponKind>Variable</couponKind>
                    <annualizedRt>1.8</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>MASSACHUSETTS DEVELOPMENT FINANCE AGENCY</name>
                <lei>549300UZSVMFXJK08K70</lei>
                <title>VAR.RT.MUNI NOTE NT</title>
                <cusip>57583RWB7</cusip>
                <identifiers>
                    <isin value="US57583RWB76"/>
                </identifiers>
                <balance>950000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>950000</valUSD>
                <pctVal>0.805441964940</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2042-10-01</maturityDt>
                    <couponKind>Variable</couponKind>
                    <annualizedRt>1</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>LANCASTER COUNTY HOSPITAL AUTHORITY/PA</name>
                <lei>N/A</lei>
                <title>VAR.RT.MUNI NOTE NT</title>
                <cusip>514045ZG1</cusip>
                <identifiers>
                    <isin value="US514045ZG18"/>
                </identifiers>
                <balance>1260000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1260000</valUSD>
                <pctVal>1.068270395604</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2034-07-01</maturityDt>
                    <couponKind>Variable</couponKind>
                    <annualizedRt>1.1</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>CONNECTICUT STATE HEALTH  AND  EDUCATIONAL FACILITIES AUTHORITY</name>
                <lei>549300ZOQJ5U8YBS5Q35</lei>
                <title>VAR.RT.MUNI NOTE NT</title>
                <cusip>20774LRU1</cusip>
                <identifiers>
                    <isin value="US20774LRU16"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1000000</valUSD>
                <pctVal>0.847833647305</pctVal>
                <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>Variable</couponKind>
                    <annualizedRt>.7</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 YORK STATE HOUSING FINANCE AGENCY</name>
                <lei>5493000LS7KCDB02O506</lei>
                <title>VAR.RT.MUNI NOTE NT</title>
                <cusip>64986UEB9</cusip>
                <identifiers>
                    <isin value="US64986UEB98"/>
                </identifiers>
                <balance>2000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>2000000</valUSD>
                <pctVal>1.695667294610</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2044-05-01</maturityDt>
                    <couponKind>Variable</couponKind>
                    <annualizedRt>1.94</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 NY</name>
                <lei>549300ABYZD2SFD5JB29</lei>
                <title>VAR.RT.MUNI NOTE NT</title>
                <cusip>64966FB45</cusip>
                <identifiers>
                    <isin value="US64966FB457"/>
                </identifiers>
                <balance>1000000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>1000000</valUSD>
                <pctVal>0.847833647305</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>MUN</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2036-04-01</maturityDt>
                    <couponKind>Variable</couponKind>
                    <annualizedRt>1.05</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="Prior to 10/31/22, DV100 figures, if any, were provided on a per-single basis point sensitivity.  Effective 10/31/22, DV100 figures are provided on a 100-basis point sensitivity. " noteItem="B.3.b"/>
            <explntrNote note="For total return swaps, interest rate swaps or spread swaps, if any, the mark to market payment may be either paid or received, depending on the change in value of the underlying index, basket or equity. For credit default swaps, if any, floating rate index related payments are only made upon the occurrence of a credit event on the reference obligation." noteItem="C.11.f.i.2"/>
            <explntrNote note="Monthly total returns provided exclude any applicable sales loads or redemption fees. " noteItem="B.5.a"/>
            <explntrNote note="For certain swaptions, if any, the value provided may include any unpaid or received premium and as a result may be a negative value." noteItem="C.2.c"/>
            <explntrNote note="For total return swaps, interest rate swaps or spread swaps, if any, the mark to market payment may be either received or paid, depending on the change in value of the underlying index, basket or equity. For credit default swaps, if any, floating rate index related payments are only made upon the occurrence of a credit event on the reference obligation." noteItem="C.11.f.i.1"/>
        </explntrNotes>
        <signature>
            <ncom:dateSigned>2023-01-26</ncom:dateSigned>
            <ncom:nameOfApplicant>Putnam Investments Inc</ncom:nameOfApplicant>
            <ncom:signature>Janet C. Smith</ncom:signature>
            <ncom:signerName>NPORT</ncom:signerName>
            <ncom:title>Principal Financial Officer</ncom:title>
        </signature>
    </formData>
</edgarSubmission>
