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        <name>CALIFORNIA ST EDUCTNL FACS AUT</name>
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        <curCd>USD</curCd>
        <valUSD>906896.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CENTRL TX REGL MOBILITY AUTH R</name>
        <lei>N/A</lei>
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        <cusip>155498CP1</cusip>
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          <isin value="US155498CP18"/>
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        <valUSD>1085750.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DIST OF COLUMBIA WTR &amp; SWR AUT</name>
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          <isin value="US254845KV11"/>
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        <curCd>USD</curCd>
        <valUSD>1145940.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>PORT AUTH OF NEW YORK   NEW JE PORTRN</name>
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        <cusip>73358WQW7</cusip>
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          <isin value="US73358WQW72"/>
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        <curCd>USD</curCd>
        <valUSD>1147090.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW JERSEY ST ECON DEV AUTH RE</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>New Jersey Economic Development Authority</title>
        <cusip>645918T86</cusip>
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          <isin value="US645918T860"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>548250.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>TEXAS ST TXS 10/34 FIXED 5</name>
        <lei>549300X9CH74QB747L76</lei>
        <title>TEXAS ST TXS 10/34 FIXED 5</title>
        <cusip>882723NH8</cusip>
        <identifiers>
          <isin value="US882723NH86"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1152110.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LEWISVILLE TX INDEP SCH DIST</name>
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        <title>Lewisville Independent School District</title>
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          <isin value="US5288287Z31"/>
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        <balance>570000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>680665.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MINNESOTA ST PUBLIC FACS AUTH</name>
        <lei>N/A</lei>
        <title>Minnesota Public Facilities Authority</title>
        <cusip>604115AM7</cusip>
        <identifiers>
          <isin value="US604115AM70"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1089160.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK ST DORM AUTH ST PERSO</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
        <cusip>64990EFM4</cusip>
        <identifiers>
          <isin value="US64990EFM49"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2158460.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ATLANTA GA WTR &amp; WSTWTR REVENU</name>
        <lei>549300GHLQ0J51NUBM84</lei>
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        <cusip>047870NF3</cusip>
        <identifiers>
          <isin value="US047870NF30"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>581295.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>ILLINOIS ST FIN AUTH REVENUE</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority</title>
        <cusip>45204EBW7</cusip>
        <identifiers>
          <isin value="US45204EBW75"/>
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        <curCd>USD</curCd>
        <valUSD>1149710.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>PENNSYLVANIA ST ECON DEV FINGA</name>
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          <isin value="US70869PJY43"/>
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        <valUSD>1142610.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW YORK ST DORM AUTH SALES TA</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
        <cusip>64990AHZ1</cusip>
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          <isin value="US64990AHZ12"/>
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        <valUSD>1640196.00000000</valUSD>
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          <maturityDt>2044-03-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>PENNSYLVANIA ST</name>
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        <title>Commonwealth of Pennsylvania</title>
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        <name>NORTH CAROLINA ST TURNPIKE AUT</name>
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        <title>North Carolina Turnpike Authority</title>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2034-01-01</maturityDt>
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        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
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        <cusip>59259YQK8</cusip>
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        <name>MASSACHUSETTS ST</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts</title>
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          <isin value="US57582RNL68"/>
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        <issuerCat>MUN</issuerCat>
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        <name>EL PASO CNTY CO SCH DIST   ELPSCD</name>
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        <name>DALLAS TX AREA RAPID TRANSIT S</name>
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        <name>NEW YORK ST DORM AUTH SALES TA NYSHGR</name>
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        <name>CALIFORNIA ST UNIV REVENUE</name>
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          <isin value="US13077C3S13"/>
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        <name>LOS ANGELES CNTY CA FACS INC L</name>
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          <maturityDt>2048-12-01</maturityDt>
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        <fairValLevel>2</fairValLevel>
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        <name>TRIBOROUGH NY BRIDGE   TUNNEL</name>
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        <name>NEW YORK ST DORM AUTH ST PERSO</name>
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        <name>NEW YORK CITY NY MUNI WTR FIN</name>
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        <name>MET TRANSPRTN AUTH NY REVENUE</name>
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        <name>State of Illinois</name>
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          <maturityDt>2042-11-01</maturityDt>
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        <name>NORFOLK VA WTR REVENUE NORWTR</name>
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        <name>HOWARD CNTY MD HOW</name>
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          <maturityDt>2032-02-15</maturityDt>
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        <name>CYPRESS-FAIRBANKS TX INDEP SCH</name>
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        <name>North Texas Tollway Authority</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>NEW YORK ST ENVRNMNTL FACS COR</name>
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          <maturityDt>2027-10-15</maturityDt>
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        <name>NEW YORK CITY NY MUNI WTR FIN</name>
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          <maturityDt>2049-06-15</maturityDt>
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        <name>MASSACHUSETTS ST BAY TRANSPRTN</name>
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        <name>ILLINOIS ST ILS</name>
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        <name>State of California</name>
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        <title>New York State Dormitory Authority</title>
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        <curCd>USD</curCd>
        <valUSD>1280326.20000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>COLORADO ST BLDG EXCELLENT SCHS TODAY COPS</name>
        <lei>N/A</lei>
        <title>State of Colorado</title>
        <cusip>19668QLE3</cusip>
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          <isin value="US19668QLE34"/>
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        <curCd>USD</curCd>
        <valUSD>551590.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-03-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY REVENUE</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
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          <isin value="US59261AUY18"/>
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        <curCd>USD</curCd>
        <valUSD>1380430.80000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST PUBLIC WKS BRD L</name>
        <lei>N/A</lei>
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        <cusip>13068LH24</cusip>
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          <isin value="US13068LH244"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>309872.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONNECTICUT ST</name>
        <lei>N/A</lei>
        <title>State of Connecticut</title>
        <cusip>20772JBN1</cusip>
        <identifiers>
          <isin value="US20772JBN19"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1056340.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHICAGO IL O'HARE INTERNATIONAL</name>
        <lei>N/A</lei>
        <title>Chicago O'Hare International Airport</title>
        <cusip>167593M41</cusip>
        <identifiers>
          <isin value="US167593M419"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1112100.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>Chicago O'Hare International Airport</title>
        <cusip>167593WT5</cusip>
        <identifiers>
          <isin value="US167593WT50"/>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>469273.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORFOLK VA WTR REVENUE NORWTR</name>
        <lei>N/A</lei>
        <title>NORFOLK VA WTR REVENUE NORWTR 11/32 FIXED 5</title>
        <cusip>656009KD8</cusip>
        <identifiers>
          <isin value="US656009KD86"/>
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        <balance>2075000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2197051.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RICHMOND VA PUBLIC UTILITY REV</name>
        <lei>N/A</lei>
        <title>City of Richmond VA Public Utility Revenue</title>
        <cusip>765433KD8</cusip>
        <identifiers>
          <isin value="US765433KD81"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>612640.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK ST DORM AUTH ST PERSO</name>
        <lei>N/A</lei>
        <title>New York State Dormitory Authority</title>
        <cusip>64990FHK3</cusip>
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          <isin value="US64990FHK30"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1580715.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>HARRIS CNTY TX TOLL ROAD REVEN</name>
        <lei>N/A</lei>
        <title>Harris County Toll Road Authority/The</title>
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          <isin value="US41423PAN78"/>
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        <curCd>USD</curCd>
        <valUSD>1249490.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK CITY NY TRANSITIONAL NYCFAC</name>
        <lei>N/A</lei>
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        <cusip>64972HU67</cusip>
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          <isin value="US64972HU675"/>
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        <valUSD>1671198.45000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>KING CNTY WA SWR REVENUE</name>
        <lei>N/A</lei>
        <title>County of King WA Sewer Revenue</title>
        <cusip>4952894S6</cusip>
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          <isin value="US4952894S60"/>
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        <balance>2075000.00000000</balance>
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        <valUSD>2308935.50000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>CHICAGO IL O'HARE INTERNATIONAL</name>
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          <isin value="US167593M583"/>
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      <invstOrSec>
        <name>NEW YORK ST DORM AUTH ST PERSO</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
        <cusip>64990E5M5</cusip>
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          <isin value="US64990E5M56"/>
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        <balance>700000.00000000</balance>
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      <invstOrSec>
        <name>MASSACHUSETTS ST</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts</title>
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      <invstOrSec>
        <name>MET TRANSPRTN AUTH NY DEDICATE</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority</title>
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          <isin value="US59259N8J56"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>DELAWARE RIVER PORT AUTH PA &amp;</name>
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        <title>Delaware River Port Authority</title>
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          <isin value="US246352HC51"/>
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        <valUSD>155623.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <name>CALIFORNIA ST</name>
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        <name>SAN FRANCISCO CALIF CITY &amp;CNTY</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>WINTER PARK FL WTR   SWR REVEN WPKUTL 12/24 FIXED OID 4.25</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>MASSACHUSETTS ST WTR RESOURCES</name>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>CALIFORNIA ST PUBLIC WKS BRD L</name>
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      <invstOrSec>
        <name>ILLINOIS ST TOLL HIGHWAY AUTH</name>
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      <invstOrSec>
        <name>LOUISIANA ST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MASSACHUSETTS ST</name>
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          <isin value="US57582P6Y10"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-08-01</maturityDt>
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        <name>BlackRock Liquidity Funds</name>
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          <isin value="US09248U8412"/>
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        <fairValLevel>1</fairValLevel>
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        <name>NEW YORK ST DORM AUTH SALES TA</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-01</maturityDt>
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        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>State of California</title>
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          <isin value="US13063CUT51"/>
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        <valUSD>652417.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>NEW JERSEY ST ECON DEV AUTH RE</name>
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        <title>New Jersey Economic Development Authority</title>
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          <isin value="US645918C437"/>
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        <valUSD>1051240.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>KANSAS ST DEPT OF TRANSPRTN HI</name>
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          <isin value="US485424QH12"/>
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        <curCd>USD</curCd>
        <valUSD>1200570.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MISSOURI ST HIGHWAYS &amp; TRANSIT</name>
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        <valUSD>1749015.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-01</maturityDt>
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        <name>LONG ISLAND NY PWR AUTH</name>
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        <title>Long Island Power Authority</title>
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          <maturityDt>2041-09-01</maturityDt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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          <maturityDt>2036-12-15</maturityDt>
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        <name>SACRAMENTO CA MUNI UTILITY DIS</name>
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        <name>CALIFORNIA ST</name>
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        <name>NEW YORK ST DORM AUTH ST PERSO</name>
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        <name>PORT OF SEATTLE WA REVENUE</name>
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        <title>Port of Seattle WA</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST</name>
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          <couponKind>None</couponKind>
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        <name>UTILITY DEBT SECURITIZATION AU</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>


    </explntrNotes>
    <signature>
      <ncom:dateSigned>2019-10-30</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock Funds</ncom:nameOfApplicant>
      <ncom:signature>Ann Frechette</ncom:signature>
      <ncom:signerName>Ann Frechette</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
