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      <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>331726.430000</valUSD>
        <pctVal>1.4723595</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>152664.830000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>152664.830000</valUSD>
        <pctVal>0.6775990</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>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>132668.640000</valUSD>
        <pctVal>0.5888464</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>117032.700000</valUSD>
        <pctVal>0.5194467</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>
        </securityLending>
      </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"/>
        </identifiers>
        <balance>350000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>359021.850000</valUSD>
        <pctVal>1.5935095</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>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>409458.250000</valUSD>
        <pctVal>1.8173702</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>
        </debtSec>
        <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"/>
        </identifiers>
        <balance>300000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>306390.120000</valUSD>
        <pctVal>1.3599049</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>
        </debtSec>
        <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>346009.060000</valUSD>
        <pctVal>1.5357526</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"/>
        </identifiers>
        <balance>375000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>387105.980000</valUSD>
        <pctVal>1.7181602</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>
        </debtSec>
        <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>410923.250000</valUSD>
        <pctVal>1.8238726</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>
        </debtSec>
        <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>386754.400000</valUSD>
        <pctVal>1.7165997</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>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </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>775766.240000</valUSD>
        <pctVal>3.4432190</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>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </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"/>
        </identifiers>
        <balance>500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>508133.000000</valUSD>
        <pctVal>2.2553356</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>
        </debtSec>
        <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>204441.840000</valUSD>
        <pctVal>0.9074100</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>457397.830000</valUSD>
        <pctVal>2.0301488</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>
        </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 09/24 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>251035.280000</valUSD>
        <pctVal>1.1142138</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"/>
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        <balance>350000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>353609.830000</valUSD>
        <pctVal>1.5694884</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"/>
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        <balance>400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>414214.160000</valUSD>
        <pctVal>1.8384792</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>
        </debtSec>
        <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"/>
        </identifiers>
        <balance>450000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>352793.660000</valUSD>
        <pctVal>1.5658658</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>307718.220000</valUSD>
        <pctVal>1.3657996</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>307358.430000</valUSD>
        <pctVal>1.3642027</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>
        </debtSec>
        <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>338343.200000</valUSD>
        <pctVal>1.5017278</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"/>
        </identifiers>
        <balance>400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>445335.600000</valUSD>
        <pctVal>1.9766109</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>355676.150000</valUSD>
        <pctVal>1.5786597</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"/>
        </identifiers>
        <balance>750000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>768817.730000</valUSD>
        <pctVal>3.4123782</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"/>
        </identifiers>
        <balance>540000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>542408.510000</valUSD>
        <pctVal>2.4074666</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>515004.990000</valUSD>
        <pctVal>2.2858368</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>
        </debtSec>
        <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"/>
        </identifiers>
        <balance>385000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>293735.330000</valUSD>
        <pctVal>1.3037369</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>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>545000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>571919.190000</valUSD>
        <pctVal>2.5384490</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>
        </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>124141.950000</valUSD>
        <pctVal>0.5510009</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>
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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>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>659093.750000</valUSD>
        <pctVal>2.9253711</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>219456.260000</valUSD>
        <pctVal>0.9740511</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>
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      </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>385980.590000</valUSD>
        <pctVal>1.7131652</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>WASHINGTON TOWNSHIP HEALTHCARE DISTRICT</name>
        <lei>N/A</lei>
        <title>WASHINGTON TWP CA HLTH CARE DI WASMED 08/38 FIXED 5.25</title>
        <cusip>940642FX4</cusip>
        <identifiers>
          <isin value="US940642FX49"/>
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        <balance>300000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>319485.750000</valUSD>
        <pctVal>1.4180295</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>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"/>
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        <balance>250000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>259322.900000</valUSD>
        <pctVal>1.1509982</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>626062.080000</valUSD>
        <pctVal>2.7787609</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>2023-11-14</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>
</edgarSubmission>
