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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO PARK DISTRICT</name>
        <lei>549300DNSTZGBZLIU409</lei>
        <title>CHICAGO IL PARK DIST CHIFAC 01/33 FIXED 5.5</title>
        <cusip>167615RX3</cusip>
        <identifiers>
          <isin value="US167615RX30"/>
        </identifiers>
        <balance>525000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>592877.250000</valUSD>
        <pctVal>0.2341723</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>5.5</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>CHICAGO PARK DISTRICT</name>
        <lei>549300DNSTZGBZLIU409</lei>
        <title>CHICAGO IL PARK DIST CHIFAC 01/38 FIXED 5.75</title>
        <cusip>167615RY1</cusip>
        <identifiers>
          <isin value="US167615RY13"/>
        </identifiers>
        <balance>3000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3400800.000000</valUSD>
        <pctVal>1.3432343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75</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>CHICAGO PARK DISTRICT</name>
        <lei>549300DNSTZGBZLIU409</lei>
        <title>CHICAGO IL PARK DIST CHIFAC 01/40 FIXED 5</title>
        <cusip>167615UX9</cusip>
        <identifiers>
          <isin value="US167615UX92"/>
        </identifiers>
        <balance>1975000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2148839.500000</valUSD>
        <pctVal>0.8487400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-01</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>CITY OF AURORA CO</name>
        <lei>N/A</lei>
        <title>AURORA CO HOSP REVENUE AURMED 12/40 FIXED OID 5</title>
        <cusip>05155XBX6</cusip>
        <identifiers>
          <isin value="US05155XBX66"/>
        </identifiers>
        <balance>2000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2043080.000000</valUSD>
        <pctVal>0.8069675</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>CITY OF BROWNSVILLE TX</name>
        <lei>N/A</lei>
        <title>BROWNSVILLE TX BRO 02/43 FIXED 5</title>
        <cusip>116405RM5</cusip>
        <identifiers>
          <isin value="US116405RM59"/>
        </identifiers>
        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1135700.000000</valUSD>
        <pctVal>0.4485742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-15</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>CITY OF CHICAGO IL O'HARE INTERNATIONAL AIRPORT REVENUE</name>
        <lei>N/A</lei>
        <title>CHICAGO IL O HARE INTERNATIONA CHITRN 01/32 FIXED 5</title>
        <cusip>167593RJ3</cusip>
        <identifiers>
          <isin value="US167593RJ34"/>
        </identifiers>
        <balance>2465000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2861347.350000</valUSD>
        <pctVal>1.1301635</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>CITY OF CHICAGO IL O'HARE INTERNATIONAL AIRPORT REVENUE</name>
        <lei>N/A</lei>
        <title>CHICAGO IL O HARE INTERNATIONA CHITRN 01/33 FIXED 5</title>
        <cusip>167593UW0</cusip>
        <identifiers>
          <isin value="US167593UW08"/>
        </identifiers>
        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1183910.000000</valUSD>
        <pctVal>0.4676160</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>CITY OF CHICAGO IL O'HARE INTERNATIONAL AIRPORT REVENUE</name>
        <lei>N/A</lei>
        <title>CHICAGO IL O HARE INTERNATIONA CHITRN 01/36 FIXED 5</title>
        <cusip>167593VT6</cusip>
        <identifiers>
          <isin value="US167593VT69"/>
        </identifiers>
        <balance>2925000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3442140.000000</valUSD>
        <pctVal>1.3595626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</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>CITY OF CHICAGO IL O'HARE INTERNATIONAL AIRPORT REVENUE</name>
        <lei>N/A</lei>
        <title>CHICAGO IL O HARE INTERNATIONA CHITRN 01/39 FIXED OID 5.75</title>
        <cusip>167593G30</cusip>
        <identifiers>
          <isin value="US167593G304"/>
        </identifiers>
        <balance>1425000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1498530.000000</valUSD>
        <pctVal>0.5918834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75</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>CITY OF CHICAGO IL O'HARE INTERNATIONAL AIRPORT REVENUE</name>
        <lei>N/A</lei>
        <title>CHICAGO IL O HARE INTERNATIONA CHITRN 01/41 FIXED 5</title>
        <cusip>167593UT7</cusip>
        <identifiers>
          <isin value="US167593UT78"/>
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        <balance>5665000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6598365.400000</valUSD>
        <pctVal>2.6061958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-01</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>CITY OF CHICAGO IL O'HARE INTERNATIONAL AIRPORT REVENUE</name>
        <lei>N/A</lei>
        <title>CHICAGO IL O HARE INTERNATIONA CHITRN 01/46 FIXED 5</title>
        <cusip>167593SE3</cusip>
        <identifiers>
          <isin value="US167593SE38"/>
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        <balance>1340000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1506749.600000</valUSD>
        <pctVal>0.5951299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-01</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>CITY OF MIAMI BEACH FL STORMWATER REVENUE</name>
        <lei>N/A</lei>
        <title>MIAMI BEACH FL STORMWTR REVENU MMBUTL 09/47 FIXED 5</title>
        <cusip>59324PEC9</cusip>
        <identifiers>
          <isin value="US59324PEC95"/>
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        <balance>2500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2734725.000000</valUSD>
        <pctVal>1.0801507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-01</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>COLORADO DEPT TRANS REV</name>
        <lei>N/A</lei>
        <title>COLORADO ST DEPT OF TRANSPRTN COSTRN 06/41 FIXED 5</title>
        <cusip>19645TAU1</cusip>
        <identifiers>
          <isin value="US19645TAU16"/>
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        <balance>1350000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1353442.500000</valUSD>
        <pctVal>0.5345773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-15</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>COLORADO HEALTH FACILITIES AUTHORITY</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>COLORADO ST HLTH FACS AUTH REV COSMED 01/40 FIXED 5</title>
        <cusip>19648AST3</cusip>
        <identifiers>
          <isin value="US19648AST33"/>
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        <balance>4660000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4702079.800000</valUSD>
        <pctVal>1.8572086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-01</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>COUNTY OF MIAMI-DADE FL AVIATION REVENUE</name>
        <lei>N/A</lei>
        <title>MIAMI DADE CNTY FL AVIATION RE MIATRN 10/38 FIXED 5</title>
        <cusip>59333PR75</cusip>
        <identifiers>
          <isin value="US59333PR759"/>
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        <balance>5525000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6350600.750000</valUSD>
        <pctVal>2.5083348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-01</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>COUNTY OF UTAH UT</name>
        <lei>N/A</lei>
        <title>UTAH CNTY UT HOSP REVENUE UTSMED 05/43 FIXED 5</title>
        <cusip>917393AV2</cusip>
        <identifiers>
          <isin value="US917393AV29"/>
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        <balance>1375000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1444533.750000</valUSD>
        <pctVal>0.5705561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-15</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 WILL IL</name>
        <lei>N/A</lei>
        <title>WILL CNTY IL WIL 11/33 FIXED 5</title>
        <cusip>968657HH2</cusip>
        <identifiers>
          <isin value="US968657HH24"/>
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        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1183130.000000</valUSD>
        <pctVal>0.4673079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-15</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>DALLAS/FORT WORTH INTERNATIONAL AIRPORT</name>
        <lei>N/A</lei>
        <title>DALLAS FORT WORTH TX INTERNATI DALAPT 11/43 FIXED 5</title>
        <cusip>235036F88</cusip>
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          <isin value="US235036F882"/>
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        <curCd>USD</curCd>
        <valUSD>1038240.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DUBLIN UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
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        <cusip>26362VFA1</cusip>
        <identifiers>
          <isin value="US26362VFA17"/>
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        <balance>7475000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2130300.250000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FAIRFAX COUNTY REDEVELOPMENT AND HOUSING AUTHORITY</name>
        <lei>N/A</lei>
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          <isin value="US303833KF36"/>
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        <curCd>USD</curCd>
        <valUSD>2805636.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FAIRFIELD CITY OF</name>
        <lei>N/A</lei>
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        <cusip>304198FW9</cusip>
        <identifiers>
          <isin value="US304198FW96"/>
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        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>798430.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FLORENCE COUNTY S C HOSPITAL REV MCLEOD</name>
        <lei>N/A</lei>
        <title>FLORENCE CNTY SC HOSP REVENUE FLOMED 11/37 FIXED OID 5</title>
        <cusip>340122KA7</cusip>
        <identifiers>
          <isin value="US340122KA74"/>
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        <balance>5075000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5238059.750000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</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>
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      </invstOrSec>
      <invstOrSec>
        <name>FLORIDAS TURNPIKE ENTERPRISE</name>
        <lei>N/A</lei>
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        <cusip>343136T49</cusip>
        <identifiers>
          <isin value="US343136T492"/>
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        <balance>2000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2072020.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</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>
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      <invstOrSec>
        <name>FRANKLIN COUNTY OHIO</name>
        <lei>549300VCBUC1RZE7KL42</lei>
        <title>FRANKLIN CNTY OH HOSP FACS REV FRAMED 11/42 FIXED 5</title>
        <cusip>353187AR8</cusip>
        <identifiers>
          <isin value="US353187AR80"/>
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        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1069350.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-01</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>
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      <invstOrSec>
        <name>GOLDEN STATE TOBACCO SECURITIZATION</name>
        <lei>N/A</lei>
        <title>GOLDEN ST TOBACCO SECURITIZATI GLDGEN 06/29 FIXED 5</title>
        <cusip>38122NXR8</cusip>
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          <isin value="US38122NXR87"/>
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        <balance>1450000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1643169.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</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>
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      <invstOrSec>
        <name>HARRIS CNTY TEX</name>
        <lei>549300G9BRP25M0W1S40</lei>
        <title>HARRIS CNTY TX HAR 08/38 FIXED 5</title>
        <cusip>414005WY0</cusip>
        <identifiers>
          <isin value="US414005WY02"/>
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        <balance>1435000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1439104.100000</valUSD>
        <pctVal>0.5684116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HIGHLANDS COUNTY HEALTH FACILITIES AUTHORITY</name>
        <lei>N/A</lei>
        <title>HIGHLANDS CNTY FL HLTH FACS AU HIGMED 11/37 FIXED 6</title>
        <cusip>431022TS1</cusip>
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          <isin value="US431022TS16"/>
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        <balance>5000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5027.950000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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        <name>HIGHLANDS COUNTY HEALTH FACILITIES AUTHORITY</name>
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        <curCd>USD</curCd>
        <valUSD>1603916.050000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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        <name>ILLINOIS FINANCE AUTHORITY</name>
        <lei>549300ZG6UBPNNNRN315</lei>
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          <isin value="US45204EPQ51"/>
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        <balance>3500000.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <securityLending>
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        <name>ILLINOIS STATE TOLL HIGHWAY AUTHORITY</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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        <name>ILLINOIS STATE TOLL HIGHWAY AUTHORITY</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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        <name>ILLINOIS STATE TOLL HIGHWAY AUTHORITY</name>
        <lei>549300ISBFGI8MJJKM98</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INDIANA FINANCE AUTHORITY</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>INDIANA ST FIN AUTH HLTH SYS R INSMED 11/21 FIXED OID 5</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>INDIANA FINANCE AUTHORITY</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <balance>1950000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2120976.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KANSAS DEVELOPMENT FINANCE AUTHORITY</name>
        <lei>549300WTL7BL8KBDPR87</lei>
        <title>KANSAS ST DEV FIN AUTH HOSP RE KSSMED 11/38 FIXED OID 5.75</title>
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          <isin value="US48542ADY47"/>
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        <curCd>USD</curCd>
        <valUSD>55278.300000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KENT STATE UNIVERSITY</name>
        <lei>549300HL3HX54032AG28</lei>
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        <cusip>490728XB3</cusip>
        <identifiers>
          <isin value="US490728XB38"/>
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        <balance>3725000.000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>LANSING MICH BRD WTR &amp; LT WTR SUPPLY</name>
        <lei>N/A</lei>
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        <cusip>516391AX7</cusip>
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          <isin value="US516391AX78"/>
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        <curCd>USD</curCd>
        <valUSD>3528889.000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      </invstOrSec>
      <invstOrSec>
        <name>LOWER COLORADO RIVER AUTHORITY</name>
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        <cusip>54811GXP0</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>MASSACHUSETTS HOUSING FINANCE AGENCY</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>STIF (USD)</name>
        <lei>N/A</lei>
        <title>FIDELITY GOVERNMENT PORTFOLIO FIDELITY INV MMKT GOVT I</title>
        <cusip>316175108</cusip>
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          <isin value="US3161751082"/>
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        <curCd>USD</curCd>
        <valUSD>13643836.470000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>METROPOLITAN TRANSPORTATION AUTHORITY</name>
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        <title>MET TRANSPRTN AUTH NY REVENUE MTATRN 11/38 FIXED 5</title>
        <cusip>59259YM63</cusip>
        <identifiers>
          <isin value="US59259YM635"/>
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        <balance>2055000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2310518.700000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>METROPOLITAN TRANSPORTATION AUTHORITY</name>
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        <title>MET TRANSPRTN AUTH NY REVENUE MTATRN 11/43 FIXED 5</title>
        <cusip>59261AUW5</cusip>
        <identifiers>
          <isin value="US59261AUW51"/>
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        <balance>5810000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6461882.000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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      <invstOrSec>
        <name>METROPOLITAN WASHINGTON AIRPORTS AUTHORITY</name>
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        <title>MET WASHINGTON DC ARPTS AUTH A METAPT 10/42 FIXED 5</title>
        <cusip>592647EQ0</cusip>
        <identifiers>
          <isin value="US592647EQ01"/>
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        <balance>3475000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4137196.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MICHIGAN STATE BUILDING AUTHORITY</name>
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        <title>MICHIGAN ST BLDG AUTH MISFAC 10/31 FIXED OID 5.2</title>
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        <identifiers>
          <isin value="US5946146X29"/>
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        <balance>550000.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MICHIGAN STATE BUILDING AUTHORITY</name>
        <lei>N/A</lei>
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        <cusip>5946146Z7</cusip>
        <identifiers>
          <isin value="US5946146Z76"/>
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        <balance>1300000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1399840.000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.375</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MICHIGAN STATE UNIVERSITY</name>
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        <title>MICHIGAN ST UNIV REVENUES MISHGR 02/44 FIXED 5</title>
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          <isin value="US594712QN48"/>
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        <balance>2695000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2725830.800000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>MODESTO IRRIGATION DISTRICT</name>
        <lei>S6U6XLZ7IOWYIG8C8H50</lei>
        <title>MODESTO CA IRR DIST FING AUTH MODWTR 09/27 FLOATING VAR</title>
        <cusip>607769EK8</cusip>
        <identifiers>
          <isin value="US607769EK88"/>
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        <balance>1000000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>995090.000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.008</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MONTGOMERY COUNTY HOUSING OPPORTUNITES COMMISSION</name>
        <lei>549300HDL0LLRHMDL092</lei>
        <title>MONTGOMERY CNTY MD HSG OPPORTU MONMFH 07/31 FIXED 5</title>
        <cusip>61334MVD9</cusip>
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          <isin value="US61334MVD90"/>
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        <balance>625000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>639331.250000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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        <name>NATOMAS UNIFIED SCHOOL DISTRICT</name>
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        <cusip>63877NEF0</cusip>
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        <balance>1000000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>690140.000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
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        <name>NATOMAS UNIFIED SCHOOL DISTRICT</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <couponKind>None</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW ORLEANS AVIATION BOARD</name>
        <lei>N/A</lei>
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        <balance>1000000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1144590.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW ORLEANS AVIATION BOARD</name>
        <lei>N/A</lei>
        <title>NEW ORLEANS LA AVIATION BRD NEWTRN 01/40 FIXED 5</title>
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        <curCd>USD</curCd>
        <valUSD>1125080.000000</valUSD>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>NEW YORK STATE DORMITORY AUTHORITY</name>
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      <invstOrSec>
        <name>OHIO UNIVERSITY</name>
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      <invstOrSec>
        <name>PENNSYLVANIA STATE</name>
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          <couponKind>Fixed</couponKind>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>PENNSYLVANIA TURNPIKE COMMISSION</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PENNSYLVANIA TURNPIKE COMMISSION</name>
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        <name>PENNSYLVANIA TURNPIKE COMMISSION</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-01</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>SACRAMENTO COUNTY SANITATION DISTRICTS FINANCING AUTHORITY</name>
        <lei>549300MSDPX3EYMUYV38</lei>
        <title>SACRAMENTO CNTY CA SANTN DISTS SACUTL 12/35 FLOATING VAR</title>
        <cusip>786134PG5</cusip>
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          <isin value="US786134PG57"/>
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        <balance>3050000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2929372.500000</valUSD>
        <pctVal>1.1570318</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.962</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>SCHENECTADY METROPLEX DEVELOPMENT AUTHORITY</name>
        <lei>N/A</lei>
        <title>SCHENECTADY NY METROPLEX DEV A STDDEV 08/33 FIXED 5.5</title>
        <cusip>80647NDN7</cusip>
        <identifiers>
          <isin value="US80647NDN75"/>
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        <balance>1410000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1621246.200000</valUSD>
        <pctVal>0.6403533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STATE OF CONNECTICUT SPECIAL TAX REVENUE</name>
        <lei>N/A</lei>
        <title>CONNECTICUT ST SPL TAX OBLIG R CTSGEN 01/36 FIXED 5</title>
        <cusip>207758XQ1</cusip>
        <identifiers>
          <isin value="US207758XQ16"/>
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        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1212860.000000</valUSD>
        <pctVal>0.4790506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</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>
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      </invstOrSec>
      <invstOrSec>
        <name>STATE OF CONNECTICUT SPECIAL TAX REVENUE</name>
        <lei>N/A</lei>
        <title>CONNECTICUT ST SPL TAX OBLIG R CTSGEN 01/38 FIXED 5</title>
        <cusip>207758XS7</cusip>
        <identifiers>
          <isin value="US207758XS71"/>
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        <balance>2340000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2817266.400000</valUSD>
        <pctVal>1.1127526</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-01</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>
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      </invstOrSec>
      <invstOrSec>
        <name>STATE OF CONNECTICUT SPECIAL TAX REVENUE</name>
        <lei>N/A</lei>
        <title>CONNECTICUT ST SPL TAX OBLIG R CTSGEN 09/34 FIXED 5</title>
        <cusip>207758SM6</cusip>
        <identifiers>
          <isin value="US207758SM66"/>
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        <balance>2425000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2780092.750000</valUSD>
        <pctVal>1.0980699</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STATE OF CONNECTICUT SPECIAL TAX REVENUE</name>
        <lei>N/A</lei>
        <title>CONNECTICUT ST SPL TAX OBLIG R CTSGEN 10/37 FIXED 5</title>
        <cusip>207758YM9</cusip>
        <identifiers>
          <isin value="US207758YM92"/>
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        <balance>5710000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6979618.500000</valUSD>
        <pctVal>2.7567817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>
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      </invstOrSec>
      <invstOrSec>
        <name>STATE OF CONNECTICUT SPECIAL TAX REVENUE</name>
        <lei>N/A</lei>
        <title>CONNECTICUT ST SPL TAX OBLIG R CTSGEN 10/38 FIXED 5</title>
        <cusip>207758YN7</cusip>
        <identifiers>
          <isin value="US207758YN75"/>
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        <balance>4370000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5325282.000000</valUSD>
        <pctVal>2.1033585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-01</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 OF LOUISIANA GASOLINE &amp; FUELS TAX REVENUE</name>
        <lei>N/A</lei>
        <title>LOUISIANA ST GAS   FUELS TAX R LASGEN 05/43 FIXED 5</title>
        <cusip>546475PS7</cusip>
        <identifiers>
          <isin value="US546475PS74"/>
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        <balance>3700000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4109627.000000</valUSD>
        <pctVal>1.6232040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>TOPEKA PUBLIC BUILDING COMMISSION</name>
        <lei>N/A</lei>
        <title>TOPEKA KS PUBLIC BLDG COMMISSI TOPFAC 06/22 FIXED 5</title>
        <cusip>890630EJ1</cusip>
        <identifiers>
          <isin value="US890630EJ15"/>
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        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1013000.000000</valUSD>
        <pctVal>0.4001107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-01</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>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY OF COLORADO HOSPITAL AUTHORITY</name>
        <lei>GQ60RLZ5ZEBY2J9KLI75</lei>
        <title>UNIV OF COLORADO CO HOSP AUTH UCOMED 11/42 FIXED 5</title>
        <cusip>914183AN8</cusip>
        <identifiers>
          <isin value="US914183AN87"/>
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        <balance>5850000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6375798.000000</valUSD>
        <pctVal>2.5182871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-15</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>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY OF ILLINOIS</name>
        <lei>N/A</lei>
        <title>UNIV OF ILLINOIS IL UNVHGR 04/26 FIXED 5</title>
        <cusip>914353ZF7</cusip>
        <identifiers>
          <isin value="US914353ZF74"/>
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        <balance>3310000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3689292.900000</valUSD>
        <pctVal>1.4571821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</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>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY OF ILLINOIS</name>
        <lei>N/A</lei>
        <title>UNIV OF ILLINOIS IL UNVHGR 04/36 FIXED OID 5.125</title>
        <cusip>914353XM4</cusip>
        <identifiers>
          <isin value="US914353XM44"/>
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        <balance>1030000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1076792.900000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNIVERSITY OF ILLINOIS</name>
        <lei>N/A</lei>
        <title>UNIV OF ILLINOIS IL UNVHGR 04/39 FIXED 5</title>
        <cusip>914353G92</cusip>
        <identifiers>
          <isin value="US914353G929"/>
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        <balance>900000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1007667.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNIVERSITY OF ILLINOIS</name>
        <lei>N/A</lei>
        <title>UNIV OF ILLINOIS IL UNVHGR 04/44 FIXED 5</title>
        <cusip>914353H26</cusip>
        <identifiers>
          <isin value="US914353H265"/>
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        <balance>3475000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3872157.750000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-01</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>
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      <invstOrSec>
        <name>WILL GRUNDY ETC COUNTIES COMMUNITY COLLEGE DISTRICT NO 525</name>
        <lei>N/A</lei>
        <title>WILL GRUNDY ETC CNTYS IL CMNTY WILHGR 06/36 FIXED 5.25</title>
        <cusip>969080FZ8</cusip>
        <identifiers>
          <isin value="US969080FZ86"/>
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        <balance>825000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>934007.250000</valUSD>
        <pctVal>0.3689104</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>5.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALTOONA AREA SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>ALTOONA PA AREA SCH DIST ALOSCD 12/39 FIXED 5</title>
        <cusip>021807LP5</cusip>
        <identifiers>
          <isin value="US021807LP58"/>
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        <balance>2375000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2761887.500000</valUSD>
        <pctVal>1.0908792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</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>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN MUNICIPAL POWER INC</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
        <title>AMERICAN MUNI PWR OHIO INC OH AMEPWR 02/37 FIXED 5</title>
        <cusip>02765UFN9</cusip>
        <identifiers>
          <isin value="US02765UFN90"/>
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        <balance>2950000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3163757.000000</valUSD>
        <pctVal>1.2496080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-15</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>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="A negative balance, which may be due to such circumstances as a net overdraft as of the reporting period-end, is reported as $0 in Item B.2.f - Cash and cash equivalents not reported in Parts C and D.  This is done in order to conform to the technical constraints of the XML type, which do not allow negative values in B.2.f." noteItem="B.2.f"/>
      <explntrNote note="Total returns do not deduct sales loads and redemption fees." noteItem="B.5.a"/>
      <explntrNote note="The form requires the filer to report ISO country codes and certain supranational entities are not on the ISO country code list.  Instruments issued by or economic exposure to a supranational entity may be disclosed as N/A." noteItem="C.5.a"/>

      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.c.vi"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.d.iii"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.e.iii"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.f.ii"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2019-11-13</ncom:dateSigned>
      <ncom:nameOfApplicant>PIMCO Funds</ncom:nameOfApplicant>
      <ncom:signature>/s/ Jason Nagler</ncom:signature>
      <ncom:signerName>Jason Nagler</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
