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      <totLiabs>751235.440000</totLiabs>
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      </invstOrSec>
      <invstOrSec>
        <name>FOLSOM REDEVELOPMENT AGENCY SUCCESSOR AGENCY</name>
        <lei>N/A</lei>
        <title>FOLSOM CA REDEV AGY SUCCESSOR FOLDEV 08/28 FIXED 4</title>
        <cusip>34439TAM8</cusip>
        <identifiers>
          <isin value="US34439TAM80"/>
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        <balance>905000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>927347.620000</valUSD>
        <pctVal>3.7619176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</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>GILROY UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>GILROY CA UNIF SCH DIST COPS GILEDU 04/26 FIXED 4</title>
        <cusip>37608PDZ2</cusip>
        <identifiers>
          <isin value="US37608PDZ27"/>
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        <balance>330000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>338107.670000</valUSD>
        <pctVal>1.3715819</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>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>STIF (USD)</name>
        <lei>N/A</lei>
        <title>FIDELITY GOVERNMENT PORTFOLIO FIDELITY INV MMKT GOVT I</title>
        <cusip>316175108</cusip>
        <identifiers>
          <isin value="US3161751082"/>
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        <balance>214507.020000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>214507.020000</valUSD>
        <pctVal>0.8701783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HEMET UNIFIED SCHOOL DISTRICT</name>
        <lei>54930041KL801EWMW566</lei>
        <title>HEMET CA UNIF SCH DIST COPS HEMEDU 10/30 FIXED 4</title>
        <cusip>423551GN4</cusip>
        <identifiers>
          <isin value="US423551GN46"/>
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        <balance>500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>530179.050000</valUSD>
        <pctVal>2.1507468</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>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>HORICON ELEMENTARY SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>HORICON CA ELEM SCH DIST HORSCD 08/31 FIXED 5</title>
        <cusip>440377BQ1</cusip>
        <identifiers>
          <isin value="US440377BQ10"/>
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        <balance>120000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>140623.690000</valUSD>
        <pctVal>0.5704600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</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>HORICON ELEMENTARY SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>HORICON CA ELEM SCH DIST HORSCD 08/32 FIXED 5</title>
        <cusip>440377BR9</cusip>
        <identifiers>
          <isin value="US440377BR92"/>
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        <balance>105000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>124587.830000</valUSD>
        <pctVal>0.5054083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>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>JEFFERSON SCHOOL DISTRICT/SAN JOAQUIN COUNTY</name>
        <lei>549300V5QNZ4QAZW2I29</lei>
        <title>JEFFERSON CA SCH DIST SAN JOAQ JEFSCD 08/34 FIXED 4</title>
        <cusip>472430EB9</cusip>
        <identifiers>
          <isin value="US472430EB95"/>
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        <balance>350000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>372149.650000</valUSD>
        <pctVal>1.5096780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</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>KERN COMMUNITY COLLEGE DISTRICT</name>
        <lei>N/A</lei>
        <title>KERN CA CMNTY CLG DIST KERHGR 11/28 ZEROCPNOID 0</title>
        <cusip>492244DE5</cusip>
        <identifiers>
          <isin value="US492244DE55"/>
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        <balance>500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>422414.800000</valUSD>
        <pctVal>1.7135857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KERN HIGH SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>KERN CA HIGH SCH DIST KERSCD 08/27 FIXED 4</title>
        <cusip>492246RX3</cusip>
        <identifiers>
          <isin value="US492246RX39"/>
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        <balance>300000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>315340.680000</valUSD>
        <pctVal>1.2792243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>LOS ANGELES CA MUN IMPT</name>
        <lei>549300ZJ0YLTZNSR8F57</lei>
        <title>LOS ANGELES CA MUNI IMPT CORPL LOSGEN 11/33 FIXED 4</title>
        <cusip>544587H35</cusip>
        <identifiers>
          <isin value="US544587H357"/>
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        <balance>345000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>356719.100000</valUSD>
        <pctVal>1.4470818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>LYNWOOD CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LYNWOOD CA UNIF SCH DIST COPS LYNEDU 10/28 FIXED 5</title>
        <cusip>551802CS8</cusip>
        <identifiers>
          <isin value="US551802CS81"/>
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        <balance>375000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>396121.610000</valUSD>
        <pctVal>1.6069237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</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>NIPOMO COMMUNITY SERVICES DISTRICT PUBLIC FACILITIES CORPORATION</name>
        <lei>N/A</lei>
        <title>NIPOMO CA CMNTY SVCS DIST WSTW NIPFAC 06/36 FIXED 4</title>
        <cusip>654538AQ0</cusip>
        <identifiers>
          <isin value="US654538AQ05"/>
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        <balance>405000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>418129.610000</valUSD>
        <pctVal>1.6962023</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>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>OAK GROVE SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>OAK GROVE CA SCH DIST OKGSCD 08/24 ZEROCPNOID 0</title>
        <cusip>671205ZF2</cusip>
        <identifiers>
          <isin value="US671205ZF21"/>
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        <balance>400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>385866.600000</valUSD>
        <pctVal>1.5653228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-01</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>PALMDALE ELEMENTARY SCHOOL DIS</name>
        <lei>549300YBE1L2RGBY7L18</lei>
        <title>PALMDALE CA SCH DIST PALSCD 08/27 FIXED 4</title>
        <cusip>696735PY9</cusip>
        <identifiers>
          <isin value="US696735PY91"/>
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        <balance>500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>522419.700000</valUSD>
        <pctVal>2.1192699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>
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      </invstOrSec>
      <invstOrSec>
        <name>ALAMEDA COUNTY JOINT POWERS AUTHORITY</name>
        <lei>N/A</lei>
        <title>ALAMEDA CNTY CA JT PWRS AUTH L ALAUTL 12/33 FIXED OID 5</title>
        <cusip>010831CH6</cusip>
        <identifiers>
          <isin value="US010831CH60"/>
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        <balance>775000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>780898.060000</valUSD>
        <pctVal>3.1678241</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>PLACENTIA-YORBA LINDA UNI SCH DIST CERT</name>
        <lei>N/A</lei>
        <title>PLACENTIA YORBA LINDA CA UNIF PCTEDU 10/25 FIXED 5</title>
        <cusip>726000CU4</cusip>
        <identifiers>
          <isin value="US726000CU44"/>
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        <balance>200000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>208034.580000</valUSD>
        <pctVal>0.8439219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</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>PLACENTIA-YORBA LINDA UNI SCH DIST CERT</name>
        <lei>N/A</lei>
        <title>PLACENTIA YORBA LINDA CA UNIF PCTEDU 10/27 FIXED 5</title>
        <cusip>726000CW0</cusip>
        <identifiers>
          <isin value="US726000CW00"/>
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        <balance>445000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>466263.260000</valUSD>
        <pctVal>1.8914633</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</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>POWAY UNIFIED SCHOOL DISTRICT PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>POWAY CA UNIF SCH DIST PUBLIC POWEDU 09/24 FIXED 5</title>
        <cusip>73885QFS3</cusip>
        <identifiers>
          <isin value="US73885QFS30"/>
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        <balance>250000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>253252.100000</valUSD>
        <pctVal>1.0273532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</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>POWAY UNIFIED SCHOOL DISTRICT PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>POWAY CA UNIF SCH DIST PUBLIC POWEDU 09/25 FIXED 5</title>
        <cusip>73885QFT1</cusip>
        <identifiers>
          <isin value="US73885QFT13"/>
        </identifiers>
        <balance>350000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>359052.090000</valUSD>
        <pctVal>1.4565459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</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>PUBLIC FACILITIES FINANCING AUTHORITY OF THE CITY OF SAN DIEGO</name>
        <lei>N/A</lei>
        <title>SAN DIEGO CA PUBLIC FACS FING SDOWTR 08/35 FIXED 5</title>
        <cusip>79730CHA5</cusip>
        <identifiers>
          <isin value="US79730CHA53"/>
        </identifiers>
        <balance>400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>427794.560000</valUSD>
        <pctVal>1.7354095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>RIO BRAVO-GREELEY UNION SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>RIO BRAVO GREELEY CA UNION ELE RIBSCD 09/29 ZEROCPNOID 0</title>
        <cusip>767022DU7</cusip>
        <identifiers>
          <isin value="US767022DU74"/>
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        <balance>450000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>367019.010000</valUSD>
        <pctVal>1.4888648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>None</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>RIO ELEMENTARY SCHOOL DISTRICT COMMUNITY FACILITIES DISTRICT</name>
        <lei>N/A</lei>
        <title>RIO CA ELEM SCH DIST CMNTY FAC RIOEDU 09/26 FIXED OID 3.25</title>
        <cusip>767027CD5</cusip>
        <identifiers>
          <isin value="US767027CD55"/>
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        <balance>325000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>315216.790000</valUSD>
        <pctVal>1.2787218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25</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>RIVERSIDE COUNTY REDEVELOPMENT SUCCESSOR AGENCY</name>
        <lei>N/A</lei>
        <title>RIVERSIDE CNTY CA REDEV SUCCES RIVDEV 10/25 FIXED 5</title>
        <cusip>76913AEY5</cusip>
        <identifiers>
          <isin value="US76913AEY55"/>
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        <balance>300000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>312845.670000</valUSD>
        <pctVal>1.2691030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</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>SAN BERNARDINO COMMUNITY COLLEGE DISTRICT</name>
        <lei>549300Y4FPTEP3EQZ007</lei>
        <title>SAN BERNARDINO CA CMNTY CLG DI SBDHGR 08/34 FIXED 4</title>
        <cusip>796720LM0</cusip>
        <identifiers>
          <isin value="US796720LM03"/>
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        <balance>335000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>348608.640000</valUSD>
        <pctVal>1.4141806</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</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>SANTA CLARITA PUBLIC FINANCE AUTHORITY</name>
        <lei>N/A</lei>
        <title>SANTA CLARITA CA PUBLIC FIN AU SCTGEN 12/34 FIXED 5</title>
        <cusip>80169PGE7</cusip>
        <identifiers>
          <isin value="US80169PGE79"/>
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        <balance>400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>472525.200000</valUSD>
        <pctVal>1.9168657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</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>SIMI VALLEY UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>SIMI VLY CA UNIF SCH DIST SIMSCD 08/30 ZEROCPNOID 0</title>
        <cusip>828641UF5</cusip>
        <identifiers>
          <isin value="US828641UF57"/>
        </identifiers>
        <balance>475000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>373014.130000</valUSD>
        <pctVal>1.5131849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</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>SOUTH SAN FRANCISCO PUBLIC FACILITIES FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>SOUTH SAN FRANCISCO CA PUBLIC SFCFAC 06/34 FIXED 4</title>
        <cusip>840035BL2</cusip>
        <identifiers>
          <isin value="US840035BL28"/>
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        <balance>750000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>806840.330000</valUSD>
        <pctVal>3.2730626</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>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>SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY</name>
        <lei>5493003B5TD5FWUKMD34</lei>
        <title>STHRN CA PUBLIC PWR AUTH REVEN STNPWR 07/38 FIXED 5</title>
        <cusip>84247PHP9</cusip>
        <identifiers>
          <isin value="US84247PHP99"/>
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        <balance>540000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>546939.540000</valUSD>
        <pctVal>2.2187381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</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>STOCKTON UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>STOCKTON CA UNIF SCH DIST STOSCD 08/28 FIXED 5</title>
        <cusip>861419TH2</cusip>
        <identifiers>
          <isin value="US861419TH26"/>
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        <balance>510000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>518998.190000</valUSD>
        <pctVal>2.1053900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</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>ANAHEIM CITY SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>ANAHEIM CA CITY SCH DIST ANASCD 08/30 ZEROCPNOID 0</title>
        <cusip>03254CEM8</cusip>
        <identifiers>
          <isin value="US03254CEM82"/>
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        <balance>385000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>304024.370000</valUSD>
        <pctVal>1.2333181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</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>ANAHEIM HOUSING &amp; PUBLIC IMPROVEMENTS AUTHORITY</name>
        <lei>N/A</lei>
        <title>ANAHEIM CA HSG   PUBLIC IMPT A ANAHSG 10/36 FIXED 5</title>
        <cusip>032556JU7</cusip>
        <identifiers>
          <isin value="US032556JU71"/>
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        <balance>1050000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1138662.840000</valUSD>
        <pctVal>4.6191478</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>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>UNIVERSITY OF ILLINOIS</name>
        <lei>549300VD8PPC4Q5HK850</lei>
        <title>UNIV OF ILLINOIS IL REVENUES UNVHGR 04/28 FIXED 5</title>
        <cusip>914353T49</cusip>
        <identifiers>
          <isin value="US914353T492"/>
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        <balance>625000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>683822.630000</valUSD>
        <pctVal>2.7740238</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>VAL VERDE UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>VAL VERDE CA SCH DIST OVVEDU 08/26 FIXED 5</title>
        <cusip>918822BP1</cusip>
        <identifiers>
          <isin value="US918822BP17"/>
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        <balance>215000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>223351.630000</valUSD>
        <pctVal>0.9060577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</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>VENTURA CALIFORNIA UNIFIED SCHOOL DIST</name>
        <lei>N/A</lei>
        <title>VENTURA CA UNIF SCH DIST VENSCD 08/39 FIXED 5</title>
        <cusip>923004TN5</cusip>
        <identifiers>
          <isin value="US923004TN50"/>
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        <balance>360000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>410172.730000</valUSD>
        <pctVal>1.6639240</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>ANTELOPE VALLEY COMMUNITY COLLEGE DISTRICT</name>
        <lei>N/A</lei>
        <title>ANTELOPE VLY CA CMNTY CLG DIST ANVHGR 08/36 ZEROCPNOID 0</title>
        <cusip>03667PJK9</cusip>
        <identifiers>
          <isin value="US03667PJK93"/>
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        <balance>225000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>130624.290000</valUSD>
        <pctVal>0.5298960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</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 BASIN MUNICIPAL WATER DISTRICT</name>
        <lei>54930017XCXSHT6Y5458</lei>
        <title>W BASIN CA MUNI WTR DIST REVEN WTBWTR 08/34 FIXED 5</title>
        <cusip>951254CS8</cusip>
        <identifiers>
          <isin value="US951254CS86"/>
        </identifiers>
        <balance>750000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>795378.230000</valUSD>
        <pctVal>3.2265650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</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>WEST CONTRA COSTA HEALTHCARE DISTRICT</name>
        <lei>N/A</lei>
        <title>W CONTRA COSTA CA HLTHCARE DIS WCCMED 07/36 FIXED 4</title>
        <cusip>952342AQ6</cusip>
        <identifiers>
          <isin value="US952342AQ66"/>
        </identifiers>
        <balance>640000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>654632.260000</valUSD>
        <pctVal>2.6556089</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>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>
    </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="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"/>
      <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"/>

    </explntrNotes>
    <signature>
      <ncom:dateSigned>2023-08-17</ncom:dateSigned>
      <ncom:nameOfApplicant>PIMCO Funds</ncom:nameOfApplicant>
      <ncom:signature>/s/ Bijal Parikh</ncom:signature>
      <ncom:signerName>Bijal Parikh</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
