<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0000857769</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000076502</seriesId>
        <classId>C000236446</classId>
        <classId>C000236447</classId>
        <classId>C000236448</classId>
        <classId>C000236445</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>John Hancock Municipal Securities Trust</regName>
      <regFileNumber>811-05968</regFileNumber>
      <regCik>0000857769</regCik>
      <regLei>5493008ZYLKE3XZXD331</regLei>
      <regStreet1>200 Berkeley Street</regStreet1>
      <regCity>Boston</regCity>
      <regStateConditional regCountry="US" regState="US-MA"/>
      <regZipOrPostalCode>02116</regZipOrPostalCode>
      <regPhone>617-543-9634</regPhone>
      <seriesName>Short Duration Municipal Opportunities Fund</seriesName>
      <seriesId>S000076502</seriesId>
      <seriesLei>549300NOMBMITCW4PQ97</seriesLei>
      <repPdEnd>2026-05-31</repPdEnd>
      <repPdDate>2026-02-28</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>153271450.960000000000</totAssets>
      <totLiabs>9313141.220000000000</totLiabs>
      <netAssets>143958309.740000000000</netAssets>
      <assetsAttrMiscSec>0.000000000000</assetsAttrMiscSec>
      <assetsInvested>0.000000000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.000000000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.000000000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.000000000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.000000000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.000000000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.000000000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.000000000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.000000000000</amtPayAftOneYrOther>
      <delayDeliv>7111070.000000000000</delayDeliv>
      <standByCommit>0.000000000000</standByCommit>
      <liquidPref>0.000000000000</liquidPref>
      <cshNotRptdInCorD>0.000000000000</cshNotRptdInCorD>
      <curMetrics>
        <curMetric>
          <curCd>USD</curCd>
          <intrstRtRiskdv01 period10Yr="-22235.772038000000" period1Yr="-7162.902701000000" period30Yr="-941.091310000000" period3Mon="-560.189233000000" period5Yr="-30553.117089000000"/>
          <intrstRtRiskdv100 period10Yr="-2262000.714151000000" period1Yr="-752126.615366000000" period30Yr="-100327.688411000000" period3Mon="-59077.741087000000" period5Yr="-3101845.386633000000"/>
        </curMetric>
      </curMetrics>
      <creditSprdRiskInvstGrade period10Yr="-20393.470994000000" period1Yr="-5827.818351000000" period30Yr="-884.104579000000" period3Mon="-382.931203000000" period5Yr="-26980.110432000000"/>
      <creditSprdRiskNonInvstGrade period10Yr="-1193.628683000000" period1Yr="-845.887585000000" period30Yr="-56.609144000000" period3Mon="-76.360936000000" period5Yr="-2743.203833000000"/>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000236445" rtn1="0.210000000000" rtn2="0.980000000000" rtn3="0.780000000000"/>
          <monthlyTotReturn classId="C000236446" rtn1="0.090000000000" rtn2="1.060000000000" rtn3="0.760000000000"/>
          <monthlyTotReturn classId="C000236447" rtn1="0.120000000000" rtn2="0.990000000000" rtn3="0.700000000000"/>
          <monthlyTotReturn classId="C000236448" rtn1="0.200000000000" rtn2="0.970000000000" rtn3="0.770000000000"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="-34828.89" netUnrealizedAppr="-59460.08"/>
        <othMon2 netRealizedGain="141471.34" netUnrealizedAppr="664128.24"/>
        <othMon3 netRealizedGain="68095.09" netUnrealizedAppr="601758.78"/>
      </returnInfo>
      <mon1Flow redemption="2476920.780000000000" reinvestment="189251.550000000000" sales="19680959.500000000000"/>
      <mon2Flow redemption="3917158.680000000000" reinvestment="249634.710000000000" sales="19074842.860000000000"/>
      <mon3Flow redemption="5397175.150000000000" reinvestment="282004.190000000000" sales="24812257.890000000000"/>

    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Pennsylvania Economic Development Financing Authority</name>
        <lei>N/A</lei>
        <title>PENNSYLVANIA ECONOMIC DEVELOPM PASDEV 12/37 ADJUSTABLE VAR</title>
        <cusip>708686ET3</cusip>
        <identifiers>
          <isin value="US708686ET36"/>
          <ticker value="PASDEV"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502111.45</valUSD>
        <pctVal>0.3487894870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Philadelphia Authority for Industrial Development</name>
        <lei>N/A</lei>
        <title>PHILADELPHIA AUTHORITY FOR IND PHIEDU 06/31 FIXED 4</title>
        <cusip>71780CBF6</cusip>
        <identifiers>
          <isin value="US71780CBF68"/>
          <ticker value="PHIEDU"/>
        </identifiers>
        <balance>160000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>160788.37</valUSD>
        <pctVal>0.1116909266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITY OF PHILADELPHIA PA AIRPOR PHIAPT 07/31 FIXED 5</name>
        <lei>N/A</lei>
        <title>CITY OF PHILADELPHIA PA AIRPOR PHIAPT 07/31 FIXED 5</title>
        <cusip>717817XM7</cusip>
        <identifiers>
          <isin value="US717817XM74"/>
          <ticker value="PHIAPT"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>556643.35</valUSD>
        <pctVal>0.3866698289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Port Of Beaumont Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>PORT OF BEAUMONT INDUSTRIAL DE PTBDEV 01/28 FIXED 4.1</title>
        <cusip>73358SAA1</cusip>
        <identifiers>
          <isin value="US73358SAA15"/>
          <ticker value="PTBDEV"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>228145.65</valUSD>
        <pctVal>0.1584803617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</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 Carolina Jobs Coalition</name>
        <lei>N/A</lei>
        <title>SOUTH CAROLINA JOBS-ECONOMIC D SCSDEV 04/27 FIXED 5</title>
        <cusip>837031UX9</cusip>
        <identifiers>
          <isin value="US837031UX96"/>
          <ticker value="SCSDEV"/>
        </identifiers>
        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25040.82</valUSD>
        <pctVal>0.0173944943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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 Carolina Public Service Authority</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
        <title>SOUTH CAROLINA PUBLIC SERVICE SCSUTL 12/30 FIXED 5</title>
        <cusip>837151PL7</cusip>
        <identifiers>
          <isin value="US837151PL75"/>
          <ticker value="SCSUTL"/>
        </identifiers>
        <balance>295000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296894.81</valUSD>
        <pctVal>0.2062366601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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 Carolina Transportation Infrastructure Bank</name>
        <lei>N/A</lei>
        <title>SOUTH CAROLINA TRANSPORTATION SCSTRN 10/33 FIXED 3</title>
        <cusip>837152UH8</cusip>
        <identifiers>
          <isin value="US837152UH81"/>
          <ticker value="SCSTRN"/>
        </identifiers>
        <balance>355000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>355042</valUSD>
        <pctVal>0.2466283472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>Stamford Housing Authority</name>
        <lei>N/A</lei>
        <title>STAMFORD HOUSING AUTHORITY STMHSG 10/32 FIXED 4.75</title>
        <cusip>852640AE1</cusip>
        <identifiers>
          <isin value="US852640AE12"/>
          <ticker value="STMHSG"/>
        </identifiers>
        <balance>215000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>226647.8</valUSD>
        <pctVal>0.1574398869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Orleans City of</name>
        <lei>N/A</lei>
        <title>CITY OF NEW ORLEANS LA NEW 12/31 FIXED 5</title>
        <cusip>64763FF79</cusip>
        <identifiers>
          <isin value="US64763FF798"/>
          <ticker value="NEW"/>
        </identifiers>
        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>888545.2</valUSD>
        <pctVal>0.6172239738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New York Liberty Development Corporation</name>
        <lei>N/A</lei>
        <title>NEW YORK LIBERTY DEVELOPMENT C NYCDEV 11/32 FIXED 2.1</title>
        <cusip>649519DP7</cusip>
        <identifiers>
          <isin value="US649519DP71"/>
          <ticker value="NYCDEV"/>
        </identifiers>
        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>689936.7</valUSD>
        <pctVal>0.4792614620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK CITY TRANSITIONAL FIN NYCGEN 11/26 FIXED 5</name>
        <lei>N/A</lei>
        <title>NEW YORK CITY TRANSITIONAL FIN NYCGEN 11/26 FIXED 5</title>
        <cusip>64971XN20</cusip>
        <identifiers>
          <isin value="US64971XN208"/>
          <ticker value="NYCGEN"/>
        </identifiers>
        <balance>5000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5097.25</valUSD>
        <pctVal>0.0035407821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New York City Municipal Water Finance Authority</name>
        <lei>N/A</lei>
        <title>NEW YORK CITY MUNICIPAL WATER NYCUTL 06/35 FIXED 5</title>
        <cusip>64972GP32</cusip>
        <identifiers>
          <isin value="US64972GP321"/>
          <ticker value="NYCUTL"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>181726.65</valUSD>
        <pctVal>0.1262356097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Decatur Hospital Authority</name>
        <lei>N/A</lei>
        <title>DECATUR HOSPITAL AUTHORITY DECMED 09/30 FIXED 5</title>
        <cusip>243323CZ3</cusip>
        <identifiers>
          <isin value="US243323CZ37"/>
          <ticker value="DECMED"/>
        </identifiers>
        <balance>225000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>247900.84</valUSD>
        <pctVal>0.1722032166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Independent School District No. 879</name>
        <lei>N/A</lei>
        <title>DELANO INDEPENDENT SCHOOL DIST DELSCD 02/28 FIXED 3</title>
        <cusip>245685MG4</cusip>
        <identifiers>
          <isin value="US245685MG43"/>
          <ticker value="DELSCD"/>
        </identifiers>
        <balance>690000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>690156.15</valUSD>
        <pctVal>0.4794139020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Delaware County Authority</name>
        <lei>N/A</lei>
        <title>DELAWARE COUNTY AUTHORITY DELGEN 07/31 FIXED 5</title>
        <cusip>245913MK1</cusip>
        <identifiers>
          <isin value="US245913MK17"/>
          <ticker value="DELGEN"/>
        </identifiers>
        <balance>30000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30991.19</valUSD>
        <pctVal>0.0215278924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DELAWARE STATE ECONOMIC DEVELO DESDEV 01/31 FIXED 3.6</name>
        <lei>N/A</lei>
        <title>DELAWARE STATE ECONOMIC DEVELO DESDEV 01/31 FIXED 3.6</title>
        <cusip>246387SX3</cusip>
        <identifiers>
          <isin value="US246387SX37"/>
          <ticker value="DESDEV"/>
        </identifiers>
        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>726981.5</valUSD>
        <pctVal>0.5049944677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DELAWARE STATE ECONOMIC DEVELO DESDEV 10/45 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>DELAWARE STATE ECONOMIC DEVELO DESDEV 10/45 ADJUSTABLE VAR</title>
        <cusip>246387SY1</cusip>
        <identifiers>
          <isin value="US246387SY10"/>
          <ticker value="DESDEV"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>515859.05</valUSD>
        <pctVal>0.3583391962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.000000000000</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>Nevada Department of Business and Industry</name>
        <lei>N/A</lei>
        <title>STATE OF NEVADA DEPARTMENT OF DIRDEV 01/65 ADJUSTABLE VAR</title>
        <cusip>25457VBV7</cusip>
        <identifiers>
          <isin value="US25457VBV71"/>
          <ticker value="DIRDEV"/>
        </identifiers>
        <balance>505000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>272700</valUSD>
        <pctVal>0.1894298429</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>12.000000000000</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>District of Columbia Housing Finance Agency</name>
        <lei>N/A</lei>
        <title>DISTRICT OF COLUMBIA HOUSING F DISMFH 02/30 ADJUSTABLE VAR</title>
        <cusip>25477PQJ7</cusip>
        <identifiers>
          <isin value="US25477PQJ74"/>
          <ticker value="DISMFH"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1009913.4</valUSD>
        <pctVal>0.7015318545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Eden Prairie MN</name>
        <lei>N/A</lei>
        <title>CITY OF EDEN PRAIRIE MN EDE 02/33 FIXED 2</title>
        <cusip>279518GQ1</cusip>
        <identifiers>
          <isin value="US279518GQ17"/>
          <ticker value="EDE"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>463688.2</valUSD>
        <pctVal>0.3220989471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</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>ELEVON MUNICIPAL UTILITY DISTR ELVUTL 09/33 FIXED 4</name>
        <lei>N/A</lei>
        <title>ELEVON MUNICIPAL UTILITY DISTR ELVUTL 09/33 FIXED 4</title>
        <cusip>28626FAJ0</cusip>
        <identifiers>
          <isin value="US28626FAJ03"/>
          <ticker value="ELVUTL"/>
        </identifiers>
        <balance>310000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>321146.79</valUSD>
        <pctVal>0.2230831903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>Energy Southeast A Cooperative District</name>
        <lei>N/A</lei>
        <title>ENERGY SOUTHEAST A COOPERATIVE ESDPWR 07/54 ADJUSTABLE VAR</title>
        <cusip>292723BN2</cusip>
        <identifiers>
          <isin value="US292723BN27"/>
          <ticker value="ESDPWR"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>552082.7</valUSD>
        <pctVal>0.3835017937</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.250000000000</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>Energy Southeast A Cooperative District</name>
        <lei>N/A</lei>
        <title>ENERGY SOUTHEAST A COOPERATIVE ESDPWR 09/33 FIXED 5</title>
        <cusip>292723CN1</cusip>
        <identifiers>
          <isin value="US292723CN18"/>
          <ticker value="ESDPWR"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>529765.85</valUSD>
        <pctVal>0.3679994930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Energy Southeast A Cooperative District</name>
        <lei>N/A</lei>
        <title>ENERGY SOUTHEAST A COOPERATIVE ESDPWR 11/35 FIXED 5</title>
        <cusip>292723CU5</cusip>
        <identifiers>
          <isin value="US292723CU50"/>
          <ticker value="ESDPWR"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>546556.65</valUSD>
        <pctVal>0.3796631476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Fall River City of</name>
        <lei>N/A</lei>
        <title>CITY OF FALL RIVER MA FAL 12/32 FIXED 2</title>
        <cusip>306297W73</cusip>
        <identifiers>
          <isin value="US306297W731"/>
          <ticker value="FAL"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>377898.16</valUSD>
        <pctVal>0.2625052772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</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>Farmingdale UFSD</name>
        <lei>N/A</lei>
        <title>FARMINGDALE UNION FREE SCHOOL FARSCD 09/34 FIXED 2</title>
        <cusip>311117HD0</cusip>
        <identifiers>
          <isin value="US311117HD09"/>
          <ticker value="FARSCD"/>
        </identifiers>
        <balance>255000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>227197.71</valUSD>
        <pctVal>0.1578218794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COUNTY OF FAYETTE OH FAY 12/32 FIXED 3</name>
        <lei>N/A</lei>
        <title>COUNTY OF FAYETTE OH FAY 12/32 FIXED 3</title>
        <cusip>312441JR0</cusip>
        <identifiers>
          <isin value="US312441JR06"/>
          <ticker value="FAY"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>401337.4</valUSD>
        <pctVal>0.2787872411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>FIDDLERS BUSINESS IMPROVEMENT FIDDEV 12/32 FIXED 5</name>
        <lei>N/A</lei>
        <title>FIDDLERS BUSINESS IMPROVEMENT FIDDEV 12/32 FIXED 5</title>
        <cusip>315730AW1</cusip>
        <identifiers>
          <isin value="US315730AW19"/>
          <ticker value="FIDDEV"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104275.25</valUSD>
        <pctVal>0.0724343389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Black Belt Energy Gas District</name>
        <lei>N/A</lei>
        <title>BLACK BELT ENERGY GAS DISTRICT BBEUTL 11/56 ADJUSTABLE VAR</title>
        <cusip>09182TGL5</cusip>
        <identifiers>
          <isin value="US09182TGL52"/>
          <ticker value="BBEUTL"/>
        </identifiers>
        <balance>1690000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1847830.62</valUSD>
        <pctVal>1.2835873270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000</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>Black Belt Energy Gas District</name>
        <lei>N/A</lei>
        <title>BLACK BELT ENERGY GAS DISTRICT BBEUTL 10/35 FIXED 5</title>
        <cusip>09182TGM3</cusip>
        <identifiers>
          <isin value="US09182TGM36"/>
          <ticker value="BBEUTL"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1092598.3</valUSD>
        <pctVal>0.7589685528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>North Carolina Capital Facilities Finance Agency</name>
        <lei>N/A</lei>
        <title>NORTH CAROLINA CAPITAL FACILIT NCSEDU 05/33 FIXED 4</title>
        <cusip>65818PNP0</cusip>
        <identifiers>
          <isin value="US65818PNP08"/>
          <ticker value="NCSEDU"/>
        </identifiers>
        <balance>215000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>226780.75</valUSD>
        <pctVal>0.1575322400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>North Carolina Capital Facilities Finance Agency</name>
        <lei>N/A</lei>
        <title>NORTH CAROLINA CAPITAL FACILIT NCSEDU 05/34 FIXED 4</title>
        <cusip>65818PNR6</cusip>
        <identifiers>
          <isin value="US65818PNR63"/>
          <ticker value="NCSEDU"/>
        </identifiers>
        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>787638.3</valUSD>
        <pctVal>0.5471294442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New York City Housing Development Corp.</name>
        <lei>N/A</lei>
        <title>NEW YORK CITY HOUSING DEVELOPM NYCHSG 11/65 ADJUSTABLE VAR</title>
        <cusip>64972KNM3</cusip>
        <identifiers>
          <isin value="US64972KNM35"/>
          <ticker value="NYCHSG"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1013939.9</valUSD>
        <pctVal>0.7043288448</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New York State Environmental Facilities Corporation</name>
        <lei>549300QJ33JJW73OQO60</lei>
        <title>NEW YORK STATE ENVIRONMENTAL F NYSENV 09/50 ADJUSTABLE VAR</title>
        <cusip>649852AS9</cusip>
        <identifiers>
          <isin value="US649852AS92"/>
          <ticker value="NYSENV"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510593.9</valUSD>
        <pctVal>0.3546817832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.250000000000</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>Black Belt Energy Gas District</name>
        <lei>N/A</lei>
        <title>BLACK BELT ENERGY GAS DISTRICT BBEUTL 05/55 ADJUSTABLE VAR</title>
        <cusip>09182TEV5</cusip>
        <identifiers>
          <isin value="US09182TEV52"/>
          <ticker value="BBEUTL"/>
        </identifiers>
        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>784473</valUSD>
        <pctVal>0.5449306827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.250000000000</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>Black Belt Energy Gas District</name>
        <lei>N/A</lei>
        <title>BLACK BELT ENERGY GAS DISTRICT BBEUTL 08/32 FIXED 5.25</title>
        <cusip>09182TGJ0</cusip>
        <identifiers>
          <isin value="US09182TGJ07"/>
          <ticker value="BBEUTL"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1067891.6</valUSD>
        <pctVal>0.7418061534</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>5.250000000000</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>Black Belt Energy Gas District</name>
        <lei>N/A</lei>
        <title>BLACK BELT ENERGY GAS DISTRICT BBEUTL 12/30 FIXED 5</title>
        <cusip>09182TGX9</cusip>
        <identifiers>
          <isin value="US09182TGX90"/>
          <ticker value="BBEUTL"/>
        </identifiers>
        <balance>850000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>920237.88</valUSD>
        <pctVal>0.6392391531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>BLAINE COUNTY EDUCATIONAL FACI BLAEDU 12/30 FIXED 5</name>
        <lei>N/A</lei>
        <title>BLAINE COUNTY EDUCATIONAL FACI BLAEDU 12/30 FIXED 5</title>
        <cusip>092746AY2</cusip>
        <identifiers>
          <isin value="US092746AY22"/>
          <ticker value="BLAEDU"/>
        </identifiers>
        <balance>235000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>255652.41</valUSD>
        <pctVal>0.1775878103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Albany County Airport Authority</name>
        <lei>N/A</lei>
        <title>ALBANY COUNTY AIRPORT AUTHORIT ALBAPT 12/26 FIXED 5</title>
        <cusip>012123NK7</cusip>
        <identifiers>
          <isin value="US012123NK73"/>
          <ticker value="ALBAPT"/>
        </identifiers>
        <balance>475000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>483958.03</valUSD>
        <pctVal>0.3361792945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Alief Independent School District</name>
        <lei>N/A</lei>
        <title>ALIEF INDEPENDENT SCHOOL DISTR ALFSCD 02/35 FIXED 2</title>
        <cusip>016249SQ8</cusip>
        <identifiers>
          <isin value="US016249SQ80"/>
          <ticker value="ALFSCD"/>
        </identifiers>
        <balance>530000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>468700.31</valUSD>
        <pctVal>0.3255805871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</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>Boerne Independent School District</name>
        <lei>N/A</lei>
        <title>BOERNE INDEPENDENT SCHOOL DIST BOESCD 02/53 ADJUSTABLE VAR</title>
        <cusip>097067NL2</cusip>
        <identifiers>
          <isin value="US097067NL22"/>
          <ticker value="BOESCD"/>
        </identifiers>
        <balance>320000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>321575.78</valUSD>
        <pctVal>0.2233811862</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.125000000000</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>BOYERTOWN AREA SCHOOL DISTRICT BOYSCD 11/27 FIXED 4</name>
        <lei>N/A</lei>
        <title>BOYERTOWN AREA SCHOOL DISTRICT BOYSCD 11/27 FIXED 4</title>
        <cusip>103405RD0</cusip>
        <identifiers>
          <isin value="US103405RD09"/>
          <ticker value="BOYSCD"/>
        </identifiers>
        <balance>425000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>425533.12</valUSD>
        <pctVal>0.2955946904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>American Municipal Power Inc.</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
        <title>AMERICAN MUNICIPAL POWER INC AMEPWR 02/33 FIXED 5</title>
        <cusip>02765UUA0</cusip>
        <identifiers>
          <isin value="US02765UUA05"/>
          <ticker value="AMEPWR"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>462683.08</valUSD>
        <pctVal>0.3214007450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Arizona Board of Regents</name>
        <lei>N/A</lei>
        <title>ARIZONA BOARD OF REGENTS AZSHGR 06/37 FIXED 5</title>
        <cusip>040484NX1</cusip>
        <identifiers>
          <isin value="US040484NX15"/>
          <ticker value="AZSHGR"/>
        </identifiers>
        <balance>15000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15101.3</valUSD>
        <pctVal>0.0104900509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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 Carolina Public Service Authority</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
        <title>SOUTH CAROLINA PUBLIC SERVICE SCSUTL 12/33 FIXED 5</title>
        <cusip>83715BAF4</cusip>
        <identifiers>
          <isin value="US83715BAF40"/>
          <ticker value="SCSUTL"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1170199.7</valUSD>
        <pctVal>0.8128740203</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>5.000000000000</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 MARYLAND CREEK RANCH MET SMDFAC 12/29 FIXED 5</name>
        <lei>N/A</lei>
        <title>SOUTH MARYLAND CREEK RANCH MET SMDFAC 12/29 FIXED 5</title>
        <cusip>838797AH1</cusip>
        <identifiers>
          <isin value="US838797AH19"/>
          <ticker value="SMDFAC"/>
        </identifiers>
        <balance>195000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210516.68</valUSD>
        <pctVal>0.1462344761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Southeast Energy Authority a Cooperative District</name>
        <lei>N/A</lei>
        <title>SOUTHEAST ENERGY AUTHORITY A C SEEPWR 01/54 ADJUSTABLE VAR</title>
        <cusip>84136FBT3</cusip>
        <identifiers>
          <isin value="US84136FBT30"/>
          <ticker value="SEEPWR"/>
        </identifiers>
        <balance>270000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>288146.59</valUSD>
        <pctVal>0.2001597480</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.250000000000</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>Southeast Energy Authority a Cooperative District</name>
        <lei>N/A</lei>
        <title>SOUTHEAST ENERGY AUTHORITY A C SEEPWR 03/55 ADJUSTABLE VAR</title>
        <cusip>84136HBT9</cusip>
        <identifiers>
          <isin value="US84136HBT95"/>
          <ticker value="SEEPWR"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>535439.45</valUSD>
        <pctVal>0.3719406340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.250000000000</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>Southeast Energy Authority a Cooperative District</name>
        <lei>N/A</lei>
        <title>SOUTHEAST ENERGY AUTHORITY A C SEEPWR 05/55 ADJUSTABLE VAR</title>
        <cusip>84136HCF8</cusip>
        <identifiers>
          <isin value="US84136HCF82"/>
          <ticker value="SEEPWR"/>
        </identifiers>
        <balance>310000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>335796.28</valUSD>
        <pctVal>0.2332593934</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA STATEWIDE COMMUNITI CASGEN 05/33 ADJUSTABLE VAR</title>
        <cusip>13080SXY5</cusip>
        <identifiers>
          <isin value="US13080SXY52"/>
          <ticker value="CASGEN"/>
        </identifiers>
        <balance>480000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>528320.69</valUSD>
        <pctVal>0.3669956190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>Independent School District No. 911</name>
        <lei>N/A</lei>
        <title>CAMBRIDGE-ISANTI INDEPENDENT S CAMSCD 02/34 FIXED 2</title>
        <cusip>132375QQ2</cusip>
        <identifiers>
          <isin value="US132375QQ26"/>
          <ticker value="CAMSCD"/>
        </identifiers>
        <balance>715000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>635676.26</valUSD>
        <pctVal>0.4415696886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</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>CANYON FALLS MUNICIPAL UTILITY CNFUTL 02/31 FIXED 4</name>
        <lei>N/A</lei>
        <title>CANYON FALLS MUNICIPAL UTILITY CNFUTL 02/31 FIXED 4</title>
        <cusip>138851DF4</cusip>
        <identifiers>
          <isin value="US138851DF40"/>
          <ticker value="CNFUTL"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104793.83</valUSD>
        <pctVal>0.0727945682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>CANYON FALLS MUNICIPAL UTILITY CNFUTL 02/31 FIXED 4</name>
        <lei>N/A</lei>
        <title>CANYON FALLS MUNICIPAL UTILITY CNFUTL 02/31 FIXED 4</title>
        <cusip>138851EF3</cusip>
        <identifiers>
          <isin value="US138851EF31"/>
          <ticker value="CNFUTL"/>
        </identifiers>
        <balance>145000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>151951.05</valUSD>
        <pctVal>0.1055521215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>Arizona Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>ARIZONA INDUSTRIAL DEVELOPMENT AZSEDU 07/60 ADJUSTABLE VAR</title>
        <cusip>04052BTS3</cusip>
        <identifiers>
          <isin value="US04052BTS33"/>
          <ticker value="AZSEDU"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>155583.98</valUSD>
        <pctVal>0.1080757202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITY OF ATLANTA GA AIRPORT PAS ATLAPT 07/26 FIXED 5</name>
        <lei>N/A</lei>
        <title>CITY OF ATLANTA GA AIRPORT PAS ATLAPT 07/26 FIXED 5</title>
        <cusip>04780TEC4</cusip>
        <identifiers>
          <isin value="US04780TEC45"/>
          <ticker value="ATLAPT"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>504215.2</valUSD>
        <pctVal>0.3502508476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>AUGUSTA DEVELOPMENT AUTHORITY AGSDEV 07/26 FIXED 5</name>
        <lei>N/A</lei>
        <title>AUGUSTA DEVELOPMENT AUTHORITY AGSDEV 07/26 FIXED 5</title>
        <cusip>05115CAD6</cusip>
        <identifiers>
          <isin value="US05115CAD65"/>
          <ticker value="AGSDEV"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>251899.35</valUSD>
        <pctVal>0.1749807638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>BALDWIN COUNTY INDUSTRIAL DEVE BLWPOL 06/55 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>BALDWIN COUNTY INDUSTRIAL DEVE BLWPOL 06/55 ADJUSTABLE VAR</title>
        <cusip>05786PAA1</cusip>
        <identifiers>
          <isin value="US05786PAA12"/>
          <ticker value="BLWPOL"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>314006.79</valUSD>
        <pctVal>0.2181234210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>Southeast Energy Authority a Cooperative District</name>
        <lei>N/A</lei>
        <title>SOUTHEAST ENERGY AUTHORITY A C SEEPWR 10/30 FIXED 5</title>
        <cusip>84136HCT8</cusip>
        <identifiers>
          <isin value="US84136HCT86"/>
          <ticker value="SEEPWR"/>
        </identifiers>
        <balance>1250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1362276.75</valUSD>
        <pctVal>0.9462994894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>The Industrial Development Authority of the City of St. Louis Missouri</name>
        <lei>N/A</lei>
        <title>INDUSTRIAL DEVELOPMENT AUTHORI STLGEN 06/34 FIXED 4.875</title>
        <cusip>85237JAA2</cusip>
        <identifiers>
          <isin value="US85237JAA25"/>
          <ticker value="STLGEN"/>
        </identifiers>
        <balance>320000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>332505.66</valUSD>
        <pctVal>0.2309735788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL TRUST AUTHORITY CTSEDU 06/34 FIXED 5</name>
        <lei>N/A</lei>
        <title>CAPITAL TRUST AUTHORITY CTSEDU 06/34 FIXED 5</title>
        <cusip>14054WAN5</cusip>
        <identifiers>
          <isin value="US14054WAN56"/>
          <ticker value="CTSEDU"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>319558.2</valUSD>
        <pctVal>0.2219796833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>CASS COUNTY JOINT WATER RESOUR CASWTR 04/27 FIXED 3.45</name>
        <lei>N/A</lei>
        <title>CASS COUNTY JOINT WATER RESOUR CASWTR 04/27 FIXED 3.45</title>
        <cusip>14805PBA9</cusip>
        <identifiers>
          <isin value="US14805PBA93"/>
          <ticker value="CASWTR"/>
        </identifiers>
        <balance>185000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>185071.21</valUSD>
        <pctVal>0.1285588934</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.450000000000</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>Central Plains Energy Project</name>
        <lei>SVQOT7V5CPLIGNP5BE29</lei>
        <title>CENTRAL PLAINS ENERGY PROJECT CENPWR 08/55 ADJUSTABLE VAR</title>
        <cusip>154872AY1</cusip>
        <identifiers>
          <isin value="US154872AY18"/>
          <ticker value="CENPWR"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>272437.23</valUSD>
        <pctVal>0.1892473109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>The Industrial Development Authority Of The City Of Chandler</name>
        <lei>N/A</lei>
        <title>CHANDLER INDUSTRIAL DEVELOPMEN CHADEV 09/52 ADJUSTABLE VAR</title>
        <cusip>158862CB6</cusip>
        <identifiers>
          <isin value="US158862CB65"/>
          <ticker value="CHADEV"/>
        </identifiers>
        <balance>450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>459541.35</valUSD>
        <pctVal>0.3192183562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>The Industrial Development Authority Of The City Of Chandler</name>
        <lei>N/A</lei>
        <title>CHANDLER INDUSTRIAL DEVELOPMEN CHADEV 06/49 ADJUSTABLE VAR</title>
        <cusip>158862CE0</cusip>
        <identifiers>
          <isin value="US158862CE05"/>
          <ticker value="CHADEV"/>
        </identifiers>
        <balance>395000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>406356.8</valUSD>
        <pctVal>0.2822739450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chester County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>CHESTER COUNTY INDUSTRIAL DEVE CHEDEV 03/27 FIXED 5</title>
        <cusip>165588FP4</cusip>
        <identifiers>
          <isin value="US165588FP49"/>
          <ticker value="CHEDEV"/>
        </identifiers>
        <balance>220000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>221711.23</valUSD>
        <pctVal>0.1540107205</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Baltimore City of</name>
        <lei>N/A</lei>
        <title>CITY OF BALTIMORE MD BALGEN 06/35 FIXED OID 4</title>
        <cusip>05923TDC0</cusip>
        <identifiers>
          <isin value="US05923TDC09"/>
          <ticker value="BALGEN"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>304780.29</valUSD>
        <pctVal>0.2117142738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>Bismarck City of</name>
        <lei>N/A</lei>
        <title>CITY OF BISMARCK ND BIS 05/26 FIXED OID 2.5</title>
        <cusip>0915822L9</cusip>
        <identifiers>
          <isin value="US0915822L99"/>
          <ticker value="BIS"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499901.8</valUSD>
        <pctVal>0.3472545634</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicago Midway International Airport</name>
        <lei>N/A</lei>
        <title>CHICAGO MIDWAY INTERNATIONAL A CHIAPT 01/32 FIXED 5</title>
        <cusip>167562UR6</cusip>
        <identifiers>
          <isin value="US167562UR69"/>
          <ticker value="CHIAPT"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1117737.4</valUSD>
        <pctVal>0.7764313168</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicago O'Hare International Airport</name>
        <lei>N/A</lei>
        <title>CHICAGO O'HARE INTERNATIONAL A CHITRN 01/27 FIXED 5</title>
        <cusip>1675937F3</cusip>
        <identifiers>
          <isin value="US1675937F31"/>
          <ticker value="CHITRN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509968.1</valUSD>
        <pctVal>0.3542470740</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>UNIVERSITY OF IOWA/THE SUVHGR 07/28 FIXED 3</name>
        <lei>N/A</lei>
        <title>UNIVERSITY OF IOWA/THE SUVHGR 07/28 FIXED 3</title>
        <cusip>857536UT1</cusip>
        <identifiers>
          <isin value="US857536UT17"/>
          <ticker value="SUVHGR"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250066.93</valUSD>
        <pctVal>0.1737078814</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITY OF TAMPA FL WATER + WASTE TAMUTL 10/54 FIXED 5</name>
        <lei>N/A</lei>
        <title>CITY OF TAMPA FL WATER + WASTE TAMUTL 10/54 FIXED 5</title>
        <cusip>875291AQ9</cusip>
        <identifiers>
          <isin value="US875291AQ94"/>
          <ticker value="TAMUTL"/>
        </identifiers>
        <balance>1090000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1123756.54</valUSD>
        <pctVal>0.7806124857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITY OF CHICAGO IL WASTEWATER CHIUTL 01/30 FIXED 5</name>
        <lei>N/A</lei>
        <title>CITY OF CHICAGO IL WASTEWATER CHIUTL 01/30 FIXED 5</title>
        <cusip>167727ZS8</cusip>
        <identifiers>
          <isin value="US167727ZS81"/>
          <ticker value="CHIUTL"/>
        </identifiers>
        <balance>225000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>230050.49</valUSD>
        <pctVal>0.1598035504</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Oregon City School District No. 62</name>
        <lei>N/A</lei>
        <title>OREGON CITY SCHOOL DISTRICT NO CLASCD 06/29 ZEROCPNOID 0</title>
        <cusip>179162LC4</cusip>
        <identifiers>
          <isin value="US179162LC41"/>
          <ticker value="CLASCD"/>
        </identifiers>
        <balance>450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>414894.6</valUSD>
        <pctVal>0.2882046898</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>NEW HAMPSHIRE BUSINESS FINANCE NHSDEV 04/34 FIXED 5.5</title>
        <cusip>644684GF3</cusip>
        <identifiers>
          <isin value="US644684GF39"/>
          <ticker value="NHSDEV"/>
        </identifiers>
        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>84284.84</valUSD>
        <pctVal>0.0585480895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>NEW HAMPSHIRE BUSINESS FINANCE NHSDEV 04/38 FIXED 5.5</title>
        <cusip>644684GG1</cusip>
        <identifiers>
          <isin value="US644684GG12"/>
          <ticker value="NHSDEV"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109709.42</valUSD>
        <pctVal>0.0762091610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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>GRAND VALLEY STATE UNIVERSITY GVYHGR 12/32 FIXED 5</name>
        <lei>N/A</lei>
        <title>GRAND VALLEY STATE UNIVERSITY GVYHGR 12/32 FIXED 5</title>
        <cusip>386545LA3</cusip>
        <identifiers>
          <isin value="US386545LA34"/>
          <ticker value="GVYHGR"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502572.7</valUSD>
        <pctVal>0.3491098922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Greater Orlando Aviation Authority</name>
        <lei>N/A</lei>
        <title>GREATER ORLANDO AVIATION AUTHO GREAPT 11/34 FIXED 5.25</title>
        <cusip>39227AAA0</cusip>
        <identifiers>
          <isin value="US39227AAA07"/>
          <ticker value="GREAPT"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>548992.2</valUSD>
        <pctVal>0.3813549916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW HOPE CULTURAL EDUCATION FA NHPFAC 10/30 FIXED 5.25</name>
        <lei>N/A</lei>
        <title>NEW HOPE CULTURAL EDUCATION FA NHPFAC 10/30 FIXED 5.25</title>
        <cusip>64542UHH0</cusip>
        <identifiers>
          <isin value="US64542UHH05"/>
          <ticker value="NHPFAC"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250290.2</valUSD>
        <pctVal>0.1738629749</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW HOPE CULTURAL EDUCATION FA NHPFAC 07/32 FIXED 5.25</name>
        <lei>N/A</lei>
        <title>NEW HOPE CULTURAL EDUCATION FA NHPFAC 07/32 FIXED 5.25</title>
        <cusip>64542UHL1</cusip>
        <identifiers>
          <isin value="US64542UHL17"/>
          <ticker value="NHPFAC"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102544.94</valUSD>
        <pctVal>0.0712323868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Jersey Economic Development Authority</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>NEW JERSEY ECONOMIC DEVELOPMEN NJSDEV 01/35 FIXED OID 6.375</title>
        <cusip>64578TAA2</cusip>
        <identifiers>
          <isin value="US64578TAA25"/>
          <ticker value="NJSDEV"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>526961.15</valUSD>
        <pctVal>0.3660512206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Jersey Institute of Technology</name>
        <lei>N/A</lei>
        <title>NEW JERSEY INSTITUTE OF TECHNO NEWHGR 07/36 FIXED 5</title>
        <cusip>64579RDU8</cusip>
        <identifiers>
          <isin value="US64579RDU86"/>
          <ticker value="NEWHGR"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>595092</valUSD>
        <pctVal>0.4133780128</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>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Jersey State of</name>
        <lei>N/A</lei>
        <title>STATE OF NEW JERSEY NJS 06/27 FIXED 2</title>
        <cusip>646039YY7</cusip>
        <identifiers>
          <isin value="US646039YY72"/>
          <ticker value="NJS"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>497670.8</valUSD>
        <pctVal>0.3457048092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Jersey Housing and Mortgage Finance Agency</name>
        <lei>N/A</lei>
        <title>NEW JERSEY HOUSING and MORTGAGE NJSMFH 11/27 FIXED 3.375</title>
        <cusip>6461084M9</cusip>
        <identifiers>
          <isin value="US6461084M90"/>
          <ticker value="NJSMFH"/>
        </identifiers>
        <balance>435000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>439638.54</valUSD>
        <pctVal>0.3053929577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.375000000000</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>Gulf Coast Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>GULF COAST INDUSTRIAL DEVELOPM GULPOL 04/28 FIXED 8</title>
        <cusip>40220MAD3</cusip>
        <identifiers>
          <isin value="US40220MAD39"/>
          <ticker value="GULPOL"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500822.55</valUSD>
        <pctVal>0.3478941583</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>8.000000000000</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>Hamden Town of</name>
        <lei>N/A</lei>
        <title>TOWN OF HAMDEN CT HAM 01/50 FIXED 5</title>
        <cusip>4067927Y1</cusip>
        <identifiers>
          <isin value="US4067927Y11"/>
          <ticker value="HAM"/>
        </identifiers>
        <balance>230000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>208252.56</valUSD>
        <pctVal>0.1446617152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>NEW JERSEY TRANSPORTATION TRUS NJSTRN 06/30 FIXED 5</title>
        <cusip>64613CDD7</cusip>
        <identifiers>
          <isin value="US64613CDD74"/>
          <ticker value="NJSTRN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>556352.8</valUSD>
        <pctVal>0.3864679997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Brazoria County Industrial Development Corp</name>
        <lei>N/A</lei>
        <title>BRAZORIA COUNTY INDUSTRIAL DEV BZIFAC 06/43 FIXED 12</title>
        <cusip>10604PAF0</cusip>
        <identifiers>
          <isin value="US10604PAF09"/>
          <ticker value="BZIFAC"/>
        </identifiers>
        <balance>93736.86</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4686.84</valUSD>
        <pctVal>0.0032556926</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIDGEVIEW FINANCE CORP BRDGEN 12/37 FIXED 5</name>
        <lei>N/A</lei>
        <title>BRIDGEVIEW FINANCE CORP BRDGEN 12/37 FIXED 5</title>
        <cusip>108552AA8</cusip>
        <identifiers>
          <isin value="US108552AA84"/>
          <ticker value="BRDGEN"/>
        </identifiers>
        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1504636.35</valUSD>
        <pctVal>1.0451889528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Metropolitan Pier and Exposition Authority</name>
        <lei>N/A</lei>
        <title>METROPOLITAN PIER and EXPOSITION MPNFAC 12/28 FIXED 5</title>
        <cusip>592250FH2</cusip>
        <identifiers>
          <isin value="US592250FH25"/>
          <ticker value="MPNFAC"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>519046.1</valUSD>
        <pctVal>0.3605530663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>METROPOLITAN WASHINGTON AIRPOR METAPT 10/35 FIXED 4</name>
        <lei>N/A</lei>
        <title>METROPOLITAN WASHINGTON AIRPOR METAPT 10/35 FIXED 4</title>
        <cusip>592647HQ7</cusip>
        <identifiers>
          <isin value="US592647HQ73"/>
          <ticker value="METAPT"/>
        </identifiers>
        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>771611.1</valUSD>
        <pctVal>0.5359962210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>Tennergy Corporation An Energy Acquisition Corporation</name>
        <lei>N/A</lei>
        <title>TENNERGY CORP/TN TGYPWR 10/53 ADJUSTABLE VAR</title>
        <cusip>880397CF9</cusip>
        <identifiers>
          <isin value="US880397CF98"/>
          <ticker value="TGYPWR"/>
        </identifiers>
        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2723792.25</valUSD>
        <pctVal>1.8920701798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000</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>Tennessee Energy Acquisition Corporation</name>
        <lei>549300OJ2Z8PGEY46K92</lei>
        <title>TENNESSEE ENERGY ACQUISITION C TNSUTL 12/35 FIXED 5</title>
        <cusip>880443JM9</cusip>
        <identifiers>
          <isin value="US880443JM96"/>
          <ticker value="TNSUTL"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>549435.9</valUSD>
        <pctVal>0.3816632058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Black Belt Energy Gas District</name>
        <lei>N/A</lei>
        <title>BLACK BELT ENERGY GAS DISTRICT BBEUTL 12/35 FIXED 5</title>
        <cusip>09182TGW1</cusip>
        <identifiers>
          <isin value="US09182TGW18"/>
          <ticker value="BBEUTL"/>
        </identifiers>
        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>824580.15</valUSD>
        <pctVal>0.5727909361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITY OF BRIDGEPORT CT BRI 08/27 FIXED 5</name>
        <lei>N/A</lei>
        <title>CITY OF BRIDGEPORT CT BRI 08/27 FIXED 5</title>
        <cusip>108152GS2</cusip>
        <identifiers>
          <isin value="US108152GS25"/>
          <ticker value="BRI"/>
        </identifiers>
        <balance>170000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>176654.11</valUSD>
        <pctVal>0.1227119923</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>METROPOLITAN WASHINGTON AIRPOR METAPT 10/26 FIXED 5</name>
        <lei>N/A</lei>
        <title>METROPOLITAN WASHINGTON AIRPOR METAPT 10/26 FIXED 5</title>
        <cusip>592647LJ8</cusip>
        <identifiers>
          <isin value="US592647LJ84"/>
          <ticker value="METAPT"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507716.95</valUSD>
        <pctVal>0.3526833226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>METROPOLITAN WASHINGTON AIRPOR METAPT 10/30 FIXED 5</name>
        <lei>N/A</lei>
        <title>METROPOLITAN WASHINGTON AIRPOR METAPT 10/30 FIXED 5</title>
        <cusip>592647MN8</cusip>
        <identifiers>
          <isin value="US592647MN87"/>
          <ticker value="METAPT"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>443257.28</valUSD>
        <pctVal>0.3079066994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Tennessee Energy Acquisition Corporation</name>
        <lei>549300OJ2Z8PGEY46K92</lei>
        <title>TENNESSEE ENERGY ACQUISITION C TNSUTL 11/34 FIXED 5</title>
        <cusip>880443JQ0</cusip>
        <identifiers>
          <isin value="US880443JQ01"/>
          <ticker value="TNSUTL"/>
        </identifiers>
        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3322927.5</valUSD>
        <pctVal>2.3082568182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Texas Municipal Gas Acquisition and Supply Corporation I</name>
        <lei>6AZ7FRSNC3ZFPM0Z8L86</lei>
        <title>TEXAS MUNICIPAL GAS ACQUISITIO TXSUTL 12/26 FIXED OID 6.25</title>
        <cusip>88256CEX3</cusip>
        <identifiers>
          <isin value="US88256CEX39"/>
          <ticker value="TXSUTL"/>
        </identifiers>
        <balance>555000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>571333.43</valUSD>
        <pctVal>0.3968742277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</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>FIRETHORN COMMUNITY DEVELOPMEN FTNGEN 05/30 FIXED 4.1</name>
        <lei>N/A</lei>
        <title>FIRETHORN COMMUNITY DEVELOPMEN FTNGEN 05/30 FIXED 4.1</title>
        <cusip>31832AAA4</cusip>
        <identifiers>
          <isin value="US31832AAA43"/>
          <ticker value="FTNGEN"/>
        </identifiers>
        <balance>475000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>479307.59</valUSD>
        <pctVal>0.3329488870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</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>Florida Development Finance Corporation</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>FLORIDA DEVELOPMENT FINANCE CO FLSDEV 12/34 FIXED 5</title>
        <cusip>34061UDK1</cusip>
        <identifiers>
          <isin value="US34061UDK16"/>
          <ticker value="FLSDEV"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>208514.24</valUSD>
        <pctVal>0.1448434900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Florida Development Finance Corporation</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>FLORIDA DEVELOPMENT FINANCE CO FLSDEV 04/27 FIXED 5</title>
        <cusip>34061UEX2</cusip>
        <identifiers>
          <isin value="US34061UEX28"/>
          <ticker value="FLSDEV"/>
        </identifiers>
        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25592.31</valUSD>
        <pctVal>0.0177775844</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Texas Municipal Gas Acquisition And Supply Corpora</name>
        <lei>N/A</lei>
        <title>TEXAS MUNICIPAL GAS ACQUISITIO TGAUTL 01/36 FIXED 5</title>
        <cusip>88256FAK8</cusip>
        <identifiers>
          <isin value="US88256FAK84"/>
          <ticker value="TGAUTL"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1102287.4</valUSD>
        <pctVal>0.7656990430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Texas Public Finance Authority</name>
        <lei>N/A</lei>
        <title>TEXAS PUBLIC FINANCE AUTHORITY TXSGEN 05/26 FIXED 5</title>
        <cusip>88277PAE5</cusip>
        <identifiers>
          <isin value="US88277PAE51"/>
          <ticker value="TXSGEN"/>
        </identifiers>
        <balance>520000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>521524.95</valUSD>
        <pctVal>0.3622749885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>PALM BEACH COUNTY HEALTH FACIL PALMED 11/30 FIXED 5</name>
        <lei>N/A</lei>
        <title>PALM BEACH COUNTY HEALTH FACIL PALMED 11/30 FIXED 5</title>
        <cusip>69651ABQ6</cusip>
        <identifiers>
          <isin value="US69651ABQ67"/>
          <ticker value="PALMED"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>218629.36</valUSD>
        <pctVal>0.1518699132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>PARK CREEK METROPOLITAN DISTRI PKCGEN 12/35 FIXED 4</name>
        <lei>N/A</lei>
        <title>PARK CREEK METROPOLITAN DISTRI PKCGEN 12/35 FIXED 4</title>
        <cusip>700387GX5</cusip>
        <identifiers>
          <isin value="US700387GX52"/>
          <ticker value="PKCGEN"/>
        </identifiers>
        <balance>475000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>489865.17</valUSD>
        <pctVal>0.3402826630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITY OF TOPEKA KS COMBINED UTI TOPUTL 08/27 FIXED OID 3</name>
        <lei>N/A</lei>
        <title>CITY OF TOPEKA KS COMBINED UTI TOPUTL 08/27 FIXED OID 3</title>
        <cusip>890680KU4</cusip>
        <identifiers>
          <isin value="US890680KU45"/>
          <ticker value="TOPUTL"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250050.25</valUSD>
        <pctVal>0.1736962947</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>3.000000000000</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>TRAILS AT CROWFOOT METROPOLITA TRCFAC 12/34 FIXED 5</name>
        <lei>N/A</lei>
        <title>TRAILS AT CROWFOOT METROPOLITA TRCFAC 12/34 FIXED 5</title>
        <cusip>89286RAQ1</cusip>
        <identifiers>
          <isin value="US89286RAQ11"/>
          <ticker value="TRCFAC"/>
        </identifiers>
        <balance>175000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200025.6</valUSD>
        <pctVal>0.1389468940</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>5.000000000000</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>Patterson Joint Unified School District</name>
        <lei>N/A</lei>
        <title>PATTERSON JOINT UNIFIED SCHOOL PATSCD 08/26 ZEROCPNOID 0</title>
        <cusip>703373ES5</cusip>
        <identifiers>
          <isin value="US703373ES51"/>
          <ticker value="PATSCD"/>
        </identifiers>
        <balance>515000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510207.93</valUSD>
        <pctVal>0.3544136708</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>None</couponKind>
          <annualizedRt>0.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pennsylvania Economic Development Financing Authority</name>
        <lei>N/A</lei>
        <title>PENNSYLVANIA ECONOMIC DEVELOPM PASDEV 12/38 ADJUSTABLE VAR</title>
        <cusip>708686ES5</cusip>
        <identifiers>
          <isin value="US708686ES52"/>
          <ticker value="PASDEV"/>
        </identifiers>
        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>602507.1</valUSD>
        <pctVal>0.4185288790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.250000000000</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>Trimble County of</name>
        <lei>N/A</lei>
        <title>COUNTY OF TRIMBLE KY TRMENV 06/33 FIXED 3.75</title>
        <cusip>896221AD0</cusip>
        <identifiers>
          <isin value="US896221AD09"/>
          <ticker value="TRMENV"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503384.7</valUSD>
        <pctVal>0.3496739444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</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>USF Financing Corporation</name>
        <lei>N/A</lei>
        <title>USF FINANCING CORP USFFIN 07/34 FIXED 5</title>
        <cusip>90343SBS3</cusip>
        <identifiers>
          <isin value="US90343SBS32"/>
          <ticker value="USFFIN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>586495.65</valUSD>
        <pctVal>0.4074065964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Rampart Range Metropolitan District No. 1</name>
        <lei>N/A</lei>
        <title>RAMPART RANGE METROPOLITAN DIS RAMGEN 12/26 FIXED 5</title>
        <cusip>75157TAC3</cusip>
        <identifiers>
          <isin value="US75157TAC36"/>
          <ticker value="RAMGEN"/>
        </identifiers>
        <balance>305000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>310707.01</valUSD>
        <pctVal>0.2158312435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Rampart Range Metropolitan District No. 1</name>
        <lei>N/A</lei>
        <title>RAMPART RANGE METROPOLITAN DIS RAMGEN 12/27 FIXED 5</title>
        <cusip>75157TAD1</cusip>
        <identifiers>
          <isin value="US75157TAD19"/>
          <ticker value="RAMGEN"/>
        </identifiers>
        <balance>445000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>464367.07</valUSD>
        <pctVal>0.3225705212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Clarksville Independent School District</name>
        <lei>N/A</lei>
        <title>CLARKSVILLE INDEPENDENT SCHOOL CLKSCD 02/34 FIXED 2</title>
        <cusip>182630DU4</cusip>
        <identifiers>
          <isin value="US182630DU47"/>
          <ticker value="CLKSCD"/>
        </identifiers>
        <balance>205000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>188791.33</valUSD>
        <pctVal>0.1311430583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</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>CLEVELAND EDUCATIONAL FACILITI CLVEDU 09/33 FIXED 5</name>
        <lei>N/A</lei>
        <title>CLEVELAND EDUCATIONAL FACILITI CLVEDU 09/33 FIXED 5</title>
        <cusip>186433AN8</cusip>
        <identifiers>
          <isin value="US186433AN80"/>
          <ticker value="CLVEDU"/>
        </identifiers>
        <balance>285000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>321259.01</valUSD>
        <pctVal>0.2231611434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Rhode Island Health and Educational Building Corporation</name>
        <lei>N/A</lei>
        <title>RHODE ISLAND HEALTH AND EDUCAT RISMED 07/32 FIXED 5</title>
        <cusip>762244NN7</cusip>
        <identifiers>
          <isin value="US762244NN74"/>
          <ticker value="RISMED"/>
        </identifiers>
        <balance>210000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232468.19</valUSD>
        <pctVal>0.1614829949</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Rhode Island Health and Educational Building Corporation</name>
        <lei>N/A</lei>
        <title>RHODE ISLAND HEALTH AND EDUCAT RISMED 07/33 FIXED 5</title>
        <cusip>762244NP2</cusip>
        <identifiers>
          <isin value="US762244NP23"/>
          <ticker value="RISMED"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>334578.87</valUSD>
        <pctVal>0.2324137249</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>North Carolina Medical Care Commission</name>
        <lei>N/A</lei>
        <title>NORTH CAROLINA MEDICAL CARE CO NCSMED 10/28 FIXED 4.25</title>
        <cusip>65820YSZ0</cusip>
        <identifiers>
          <isin value="US65820YSZ06"/>
          <ticker value="NCSMED"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250198.5</valUSD>
        <pctVal>0.1737992760</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>4.250000000000</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>NORTH LAWRENCE COMMUNITY SCHOO NRLSCD 01/32 FIXED 5</name>
        <lei>N/A</lei>
        <title>NORTH LAWRENCE COMMUNITY SCHOO NRLSCD 01/32 FIXED 5</title>
        <cusip>66042REJ6</cusip>
        <identifiers>
          <isin value="US66042REJ68"/>
          <ticker value="NRLSCD"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>283759.15</valUSD>
        <pctVal>0.1971120323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>NEW YORK STATE DORMITORY AUTHO NYSHGR 07/50 FIXED 5</title>
        <cusip>64990GVH2</cusip>
        <identifiers>
          <isin value="US64990GVH28"/>
          <ticker value="NYSHGR"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1028684</valUSD>
        <pctVal>0.7145707683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Newport City of</name>
        <lei>N/A</lei>
        <title>CITY OF NEWPORT OR NEW 06/27 ZEROCPNOID 0</title>
        <cusip>652300LB8</cusip>
        <identifiers>
          <isin value="US652300LB82"/>
          <ticker value="NEW"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>387076.96</valUSD>
        <pctVal>0.2688812898</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ohio County of</name>
        <lei>N/A</lei>
        <title>COUNTY OF OHIO WV OHSDEV 06/32 FIXED 5</title>
        <cusip>677321BQ3</cusip>
        <identifiers>
          <isin value="US677321BQ30"/>
          <ticker value="OHSDEV"/>
        </identifiers>
        <balance>365000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>395920.65</valUSD>
        <pctVal>0.2750245197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>OREGON STATE LOTTERY ORSGEN 04/28 FIXED 5</name>
        <lei>N/A</lei>
        <title>OREGON STATE LOTTERY ORSGEN 04/28 FIXED 5</title>
        <cusip>68607V6A8</cusip>
        <identifiers>
          <isin value="US68607V6A83"/>
          <ticker value="ORSGEN"/>
        </identifiers>
        <balance>190000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201344.73</valUSD>
        <pctVal>0.1398632218</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>5.000000000000</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>Port of Beaumont Navigation District of Jefferson County</name>
        <lei>N/A</lei>
        <title>PORT OF BEAUMONT NAVIGATION DI PTBTRN 07/26 FIXED 10</title>
        <cusip>73360CAS3</cusip>
        <identifiers>
          <isin value="US73360CAS35"/>
          <ticker value="PTBTRN"/>
        </identifiers>
        <balance>540000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>541173.74</valUSD>
        <pctVal>0.3759239331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.000000000000</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 Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FINANCE AUTHORITY PUBGEN 07/60 ADJUSTABLE VAR</title>
        <cusip>74442PV28</cusip>
        <identifiers>
          <isin value="US74442PV280"/>
          <ticker value="PUBGEN"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1023854</valUSD>
        <pctVal>0.7112156303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.000000000000</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 Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FINANCE AUTHORITY PUBGEN 06/63 ADJUST OID VAR</title>
        <cusip>74449EAA1</cusip>
        <identifiers>
          <isin value="US74449EAA10"/>
          <ticker value="PUBGEN"/>
        </identifiers>
        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1502151</valUSD>
        <pctVal>1.0434625154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>COMMONWEALTH OF PUERTO RICO PRC 11/43 ADJUSTABLE VAR</title>
        <cusip>74514L3T2</cusip>
        <identifiers>
          <isin value="US74514L3T29"/>
          <ticker value="PRC"/>
        </identifiers>
        <balance>270000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>184275</valUSD>
        <pctVal>0.1280058097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.000000000000</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>Collier County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>COLLIER COUNTY INDUSTRIAL DEVE COLDEV 04/35 FIXED 5</title>
        <cusip>194641BV7</cusip>
        <identifiers>
          <isin value="US194641BV73"/>
          <ticker value="COLDEV"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1156497.8</valUSD>
        <pctVal>0.8033560564</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Colorado Educational and Cultural Facilities Authority</name>
        <lei>N/A</lei>
        <title>COLORADO EDUCATIONAL and CULTURA COSEDU 06/35 FIXED OID 4</title>
        <cusip>19645DDG4</cusip>
        <identifiers>
          <isin value="US19645DDG43"/>
          <ticker value="COSEDU"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>432192.8</valUSD>
        <pctVal>0.3002208075</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>NORTH MIAMI COMMUNITY REDEVELO NMIDEV 03/31 FIXED 5</name>
        <lei>N/A</lei>
        <title>NORTH MIAMI COMMUNITY REDEVELO NMIDEV 03/31 FIXED 5</title>
        <cusip>661056AG6</cusip>
        <identifiers>
          <isin value="US661056AG61"/>
          <ticker value="NMIDEV"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>550719.4</valUSD>
        <pctVal>0.3825547834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>NORTHERN KENTUCKY WATER DISTRI NKYWTR 02/29 FIXED OID 3.125</name>
        <lei>N/A</lei>
        <title>NORTHERN KENTUCKY WATER DISTRI NKYWTR 02/29 FIXED OID 3.125</title>
        <cusip>665306ND4</cusip>
        <identifiers>
          <isin value="US665306ND43"/>
          <ticker value="NKYWTR"/>
        </identifiers>
        <balance>125000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>125017.78</valUSD>
        <pctVal>0.0868430452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.125000000000</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>PUERTO RICO SALES TAX FINANCIN PRCGEN 07/27 ZEROCPNOID 0</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FINANCIN PRCGEN 07/27 ZEROCPNOID 0</title>
        <cusip>74529JQC2</cusip>
        <identifiers>
          <isin value="US74529JQC26"/>
          <ticker value="PRCGEN"/>
        </identifiers>
        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1439892.6</valUSD>
        <pctVal>1.0002149946</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Colorado Health Facilities Authority</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>COLORADO HEALTH FACILITIES AUT COSMED 05/30 FIXED 3</title>
        <cusip>19648FSW5</cusip>
        <identifiers>
          <isin value="US19648FSW58"/>
          <ticker value="COSMED"/>
        </identifiers>
        <balance>340000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>338695.69</valUSD>
        <pctVal>0.2352734556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Colorado Housing and Finance Authority</name>
        <lei>N/A</lei>
        <title>COLORADO HOUSING AND FINANCE A COSHSG 10/29 FIXED 3.35</title>
        <cusip>19648GXF4</cusip>
        <identifiers>
          <isin value="US19648GXF44"/>
          <ticker value="COSHSG"/>
        </identifiers>
        <balance>430000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>439834.01</valUSD>
        <pctVal>0.3055287401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.350000000000</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>Florida Development Finance Corporation</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>FLORIDA DEVELOPMENT FINANCE CO FLSDEV 10/54 ADJUSTABLE VAR</title>
        <cusip>34061XAG7</cusip>
        <identifiers>
          <isin value="US34061XAG79"/>
          <ticker value="FLSDEV"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507573.35</valUSD>
        <pctVal>0.3525835715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.375000000000</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>FLORIDA HIGHER EDUCATIONAL FAC FLSHGR 04/27 FIXED 5</name>
        <lei>N/A</lei>
        <title>FLORIDA HIGHER EDUCATIONAL FAC FLSHGR 04/27 FIXED 5</title>
        <cusip>34073TGA9</cusip>
        <identifiers>
          <isin value="US34073TGA97"/>
          <ticker value="FLSHGR"/>
        </identifiers>
        <balance>20000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20033.48</valUSD>
        <pctVal>0.0139161678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>FLORIDA HIGHER EDUCATIONAL FAC FLSHGR 04/28 FIXED 5</name>
        <lei>N/A</lei>
        <title>FLORIDA HIGHER EDUCATIONAL FAC FLSHGR 04/28 FIXED 5</title>
        <cusip>34073TGB7</cusip>
        <identifiers>
          <isin value="US34073TGB70"/>
          <ticker value="FLSHGR"/>
        </identifiers>
        <balance>35000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35064.76</valUSD>
        <pctVal>0.0243575797</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>5.000000000000</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>Florida Local Government Finance Commission</name>
        <lei>N/A</lei>
        <title>FLORIDA LOCAL GOVERNMENT FINAN FLSFAC 11/31 FIXED 4.45</title>
        <cusip>34077UAL4</cusip>
        <identifiers>
          <isin value="US34077UAL44"/>
          <ticker value="FLSFAC"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202724.02</valUSD>
        <pctVal>0.1408213394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.450000000000</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>Richland County School District One</name>
        <lei>N/A</lei>
        <title>RICHLAND COUNTY SCHOOL DISTRIC RICSCD 03/28 FIXED 3.5</title>
        <cusip>763665YZ3</cusip>
        <identifiers>
          <isin value="US763665YZ34"/>
          <ticker value="RICSCD"/>
        </identifiers>
        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>350230.44</valUSD>
        <pctVal>0.2432860185</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>Sales Tax Securitization Corporation</name>
        <lei>N/A</lei>
        <title>SALES TAX SECURITIZATION CORP STSGEN 01/34 FIXED 5</title>
        <cusip>79467BKA2</cusip>
        <identifiers>
          <isin value="US79467BKA25"/>
          <ticker value="STSGEN"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1159084.6</valUSD>
        <pctVal>0.8051529655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ohio Air Quality Development Authority</name>
        <lei>N/A</lei>
        <title>OHIO AIR QUALITY DEVELOPMENT A OHSDEV 08/29 ADJUSTABLE VAR</title>
        <cusip>677525VZ7</cusip>
        <identifiers>
          <isin value="US677525VZ70"/>
          <ticker value="OHSDEV"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>149694.06</valUSD>
        <pctVal>0.1039843134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.375000000000</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>OREGON STATE FACILITIES AUTHOR ORSFAC 12/28 FIXED 5</name>
        <lei>N/A</lei>
        <title>OREGON STATE FACILITIES AUTHOR ORSFAC 12/28 FIXED 5</title>
        <cusip>68608JZG9</cusip>
        <identifiers>
          <isin value="US68608JZG92"/>
          <ticker value="ORSFAC"/>
        </identifiers>
        <balance>320000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>334954.02</valUSD>
        <pctVal>0.2326743212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>HARRIS COUNTY MUNICIPAL UTILIT HARUTL 12/32 FIXED OID 3</name>
        <lei>N/A</lei>
        <title>HARRIS COUNTY MUNICIPAL UTILIT HARUTL 12/32 FIXED OID 3</title>
        <cusip>41423TMU0</cusip>
        <identifiers>
          <isin value="US41423TMU06"/>
          <ticker value="HARUTL"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199313.7</valUSD>
        <pctVal>0.1384523758</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>HARRISBURG REDEVELOPMENT AUTHO HRADEV 09/30 FIXED 5</name>
        <lei>N/A</lei>
        <title>HARRISBURG REDEVELOPMENT AUTHO HRADEV 09/30 FIXED 5</title>
        <cusip>414832AF2</cusip>
        <identifiers>
          <isin value="US414832AF26"/>
          <ticker value="HRADEV"/>
        </identifiers>
        <balance>450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>493709.45</valUSD>
        <pctVal>0.3429530750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Hopewell Valley Regional School District</name>
        <lei>N/A</lei>
        <title>HOPEWELL VALLEY REGIONAL SCHOO HWVSCD 02/32 FIXED OID 1</title>
        <cusip>439686LT1</cusip>
        <identifiers>
          <isin value="US439686LT13"/>
          <ticker value="HWVSCD"/>
        </identifiers>
        <balance>1710000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1531480.62</valUSD>
        <pctVal>1.0638362056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITY OF HOUSTON TX AIRPORT SYS HOUAPT 07/33 FIXED 5.25</name>
        <lei>N/A</lei>
        <title>CITY OF HOUSTON TX AIRPORT SYS HOUAPT 07/33 FIXED 5.25</title>
        <cusip>442349HT6</cusip>
        <identifiers>
          <isin value="US442349HT61"/>
          <ticker value="HOUAPT"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>551120.3</valUSD>
        <pctVal>0.3828332668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</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>Houston Independent School District</name>
        <lei>N/A</lei>
        <title>HOUSTON INDEPENDENT SCHOOL DIS HOUSCD 07/45 ADJUSTABLE VAR</title>
        <cusip>442403SH5</cusip>
        <identifiers>
          <isin value="US442403SH57"/>
          <ticker value="HOUSCD"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1056411.2</valUSD>
        <pctVal>0.7338313446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>I-470 WESTERN GATEWAY TRANSPOR WGTTRN 12/29 FIXED 4.5</name>
        <lei>N/A</lei>
        <title>I-470 WESTERN GATEWAY TRANSPOR WGTTRN 12/29 FIXED 4.5</title>
        <cusip>44952RAA4</cusip>
        <identifiers>
          <isin value="US44952RAA41"/>
          <ticker value="WGTTRN"/>
        </identifiers>
        <balance>266000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>267061.74</valUSD>
        <pctVal>0.1855132507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</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>ILLINOIS DEVELOPMENT FINANCE A ILSDEV 11/39 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>ILLINOIS DEVELOPMENT FINANCE A ILSDEV 11/39 ADJUSTABLE VAR</title>
        <cusip>45189FJQ8</cusip>
        <identifiers>
          <isin value="US45189FJQ81"/>
          <ticker value="ILSDEV"/>
        </identifiers>
        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2501999.25</valUSD>
        <pctVal>1.7380026582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.850000000000</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>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>ILLINOIS FINANCE AUTHORITY ILSGEN 06/27 FIXED 4.6</title>
        <cusip>45204FQK4</cusip>
        <identifiers>
          <isin value="US45204FQK48"/>
          <ticker value="ILSGEN"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150380.25</valUSD>
        <pctVal>0.1044609723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</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>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>ILLINOIS FINANCE AUTHORITY ILSGEN 06/42 FIXED OID 5.375</title>
        <cusip>45204FQN8</cusip>
        <identifiers>
          <isin value="US45204FQN86"/>
          <ticker value="ILSGEN"/>
        </identifiers>
        <balance>10000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10044.17</valUSD>
        <pctVal>0.0069771380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.375000000000</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>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>ILLINOIS FINANCE AUTHORITY ILSGEN 10/35 FIXED 5</title>
        <cusip>45204FS48</cusip>
        <identifiers>
          <isin value="US45204FS485"/>
          <ticker value="ILSGEN"/>
        </identifiers>
        <balance>295000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>304798.01</valUSD>
        <pctVal>0.2117265829</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of Illinois</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>STATE OF ILLINOIS ILS 11/31 FIXED OID 4.125</title>
        <cusip>452152M65</cusip>
        <identifiers>
          <isin value="US452152M657"/>
          <ticker value="ILS"/>
        </identifiers>
        <balance>575000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>578844.8</valUSD>
        <pctVal>0.4020919675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</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>PALM BEACH COUNTY HEALTH FACIL PALMED 06/26 FIXED 4</name>
        <lei>N/A</lei>
        <title>PALM BEACH COUNTY HEALTH FACIL PALMED 06/26 FIXED 4</title>
        <cusip>696507VG4</cusip>
        <identifiers>
          <isin value="US696507VG42"/>
          <ticker value="PALMED"/>
        </identifiers>
        <balance>230000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>230175.21</valUSD>
        <pctVal>0.1598901866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>PALM BEACH COUNTY HEALTH FACIL PALMED 06/31 FIXED 4</name>
        <lei>N/A</lei>
        <title>PALM BEACH COUNTY HEALTH FACIL PALMED 06/31 FIXED 4</title>
        <cusip>696507VH2</cusip>
        <identifiers>
          <isin value="US696507VH25"/>
          <ticker value="PALMED"/>
        </identifiers>
        <balance>10000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10129.74</valUSD>
        <pctVal>0.0070365789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of Illinois</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>STATE OF ILLINOIS ILS 10/29 FIXED 5.25</title>
        <cusip>452153LP2</cusip>
        <identifiers>
          <isin value="US452153LP22"/>
          <ticker value="ILS"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>548748.2</valUSD>
        <pctVal>0.3811854981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</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>INDEPENDENT CITIES FINANCE AUT IDCGEN 05/32 FIXED 4</name>
        <lei>N/A</lei>
        <title>INDEPENDENT CITIES FINANCE AUT IDCGEN 05/32 FIXED 4</title>
        <cusip>45385LMP5</cusip>
        <identifiers>
          <isin value="US45385LMP57"/>
          <ticker value="IDCGEN"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>309511.2</valUSD>
        <pctVal>0.2150005794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>PALM BEACH COUNTY HEALTH FACIL PALMED 11/32 FIXED 5</name>
        <lei>N/A</lei>
        <title>PALM BEACH COUNTY HEALTH FACIL PALMED 11/32 FIXED 5</title>
        <cusip>69650MAV1</cusip>
        <identifiers>
          <isin value="US69650MAV19"/>
          <ticker value="PALMED"/>
        </identifiers>
        <balance>140000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>141924.24</valUSD>
        <pctVal>0.0985870425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>PALM BEACH COUNTY HEALTH FACIL PALMED 11/28 FIXED 5</name>
        <lei>N/A</lei>
        <title>PALM BEACH COUNTY HEALTH FACIL PALMED 11/28 FIXED 5</title>
        <cusip>69651ABN3</cusip>
        <identifiers>
          <isin value="US69651ABN37"/>
          <ticker value="PALMED"/>
        </identifiers>
        <balance>15000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15837.43</valUSD>
        <pctVal>0.0110014004</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>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City Public Service Board of San Antonio</name>
        <lei>5493002G2FEH20Q4GQ04</lei>
        <title>CITY OF SAN ANTONIO TX ELECTRI SANUTL 02/55 ADJUSTABLE VAR</title>
        <cusip>79625GNE9</cusip>
        <identifiers>
          <isin value="US79625GNE97"/>
          <ticker value="SANUTL"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>505941.5</valUSD>
        <pctVal>0.3514500142</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.080000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City Public Service Board of San Antonio</name>
        <lei>5493002G2FEH20Q4GQ04</lei>
        <title>CITY OF SAN ANTONIO TX ELECTRI SANUTL 02/55 ADJUSTABLE VAR</title>
        <cusip>79625GNU3</cusip>
        <identifiers>
          <isin value="US79625GNU30"/>
          <ticker value="SANUTL"/>
        </identifiers>
        <balance>1120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1137378.93</valUSD>
        <pctVal>0.7900752183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.150000000000</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 FRANCISCO CITY and COUNTY AI SFOAPT 05/32 FIXED 5</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>SAN FRANCISCO CITY and COUNTY AI SFOAPT 05/32 FIXED 5</title>
        <cusip>79766DVL0</cusip>
        <identifiers>
          <isin value="US79766DVL09"/>
          <ticker value="SFOAPT"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>457058.64</valUSD>
        <pctVal>0.3174937528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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 JOAQUIN VALLEY CLEAN ENERG SSJUTL 01/56 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>SAN JOAQUIN VALLEY CLEAN ENERG SSJUTL 01/56 ADJUSTABLE VAR</title>
        <cusip>79811YAK4</cusip>
        <identifiers>
          <isin value="US79811YAK47"/>
          <ticker value="SSJUTL"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>569482.7</valUSD>
        <pctVal>0.3955886263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.500000000000</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>Forsyth City of</name>
        <lei>N/A</lei>
        <title>CITY OF FORSYTH MT FORPOL 07/28 FIXED 3.875</title>
        <cusip>346668DN3</cusip>
        <identifiers>
          <isin value="US346668DN34"/>
          <ticker value="FORPOL"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>255873.4</valUSD>
        <pctVal>0.1777413200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</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>Garden City City of</name>
        <lei>N/A</lei>
        <title>CITY OF GARDEN CITY KS GAROBL 06/29 FIXED 4</title>
        <cusip>36508AAA6</cusip>
        <identifiers>
          <isin value="US36508AAA60"/>
          <ticker value="GAROBL"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200660.16</valUSD>
        <pctVal>0.1393876883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>Garden City City of</name>
        <lei>N/A</lei>
        <title>CITY OF GARDEN CITY KS GAROBL 06/33 FIXED OID 4.25</title>
        <cusip>36508AAB4</cusip>
        <identifiers>
          <isin value="US36508AAB44"/>
          <ticker value="GAROBL"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>505568.7</valUSD>
        <pctVal>0.3511910503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</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>Georgetown City of</name>
        <lei>N/A</lei>
        <title>CITY OF GEORGETOWN TX GGT 08/29 FIXED 3</title>
        <cusip>373029DN4</cusip>
        <identifiers>
          <isin value="US373029DN40"/>
          <ticker value="GGT"/>
        </identifiers>
        <balance>775000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>775300.31</valUSD>
        <pctVal>0.5385589143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>MAIN STREET ENERGY INC MSEPWR 12/33 FIXED 5</name>
        <lei>N/A</lei>
        <title>MAIN STREET ENERGY INC MSEPWR 12/33 FIXED 5</title>
        <cusip>560354AE2</cusip>
        <identifiers>
          <isin value="US560354AE25"/>
          <ticker value="MSEPWR"/>
        </identifiers>
        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1637346</valUSD>
        <pctVal>1.1373751213</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>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MONTGOMERY COUNTY MUNICIPAL UT MONUTL 09/30 FIXED 5</name>
        <lei>N/A</lei>
        <title>MONTGOMERY COUNTY MUNICIPAL UT MONUTL 09/30 FIXED 5</title>
        <cusip>61370SGJ5</cusip>
        <identifiers>
          <isin value="US61370SGJ50"/>
          <ticker value="MONUTL"/>
        </identifiers>
        <balance>130000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>142911</valUSD>
        <pctVal>0.0992724909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>VILLAGE OF BEDFORD PARK IL HOT BEDGEN 12/35 FIXED 5</name>
        <lei>N/A</lei>
        <title>VILLAGE OF BEDFORD PARK IL HOT BEDGEN 12/35 FIXED 5</title>
        <cusip>07638EBA1</cusip>
        <identifiers>
          <isin value="US07638EBA10"/>
          <ticker value="BEDGEN"/>
        </identifiers>
        <balance>155000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>176158.74</valUSD>
        <pctVal>0.1223678858</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>The Berks County Municipal Authority</name>
        <lei>N/A</lei>
        <title>BERKS COUNTY MUNICIPAL AUTHORI BERFAC 02/40 ADJUSTABLE VAR</title>
        <cusip>084538JB4</cusip>
        <identifiers>
          <isin value="US084538JB45"/>
          <ticker value="BERFAC"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>458260.5</valUSD>
        <pctVal>0.3183286195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>BOROUGH OF BERNARDSVILLE NJ BRV 08/28 FIXED OID 2.625</name>
        <lei>N/A</lei>
        <title>BOROUGH OF BERNARDSVILLE NJ BRV 08/28 FIXED OID 2.625</title>
        <cusip>085383DU8</cusip>
        <identifiers>
          <isin value="US085383DU82"/>
          <ticker value="BRV"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199998.86</valUSD>
        <pctVal>0.1389283192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Birmingham Regional Water Works</name>
        <lei>N/A</lei>
        <title>CITY OF BIRMINGHAM REGIONAL WA BIRWTR 09/26 FIXED 3.75</title>
        <cusip>091097AA3</cusip>
        <identifiers>
          <isin value="US091097AA35"/>
          <ticker value="BIRWTR"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500045.65</valUSD>
        <pctVal>0.3473544882</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>3.750000000000</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>Columbus City of</name>
        <lei>N/A</lei>
        <title>CITY OF COLUMBUS OH COL 08/32 FIXED 3</title>
        <cusip>199492QY8</cusip>
        <identifiers>
          <isin value="US199492QY80"/>
          <ticker value="COL"/>
        </identifiers>
        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>750157.5</valUSD>
        <pctVal>0.5210935731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dallas Fort Worth International Airport</name>
        <lei>N/A</lei>
        <title>DALLAS FORT WORTH INTERNATIONA DALAPT 11/30 FIXED 5</title>
        <cusip>23503CDL8</cusip>
        <identifiers>
          <isin value="US23503CDL81"/>
          <ticker value="DALAPT"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>554899.85</valUSD>
        <pctVal>0.3854587144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dallas Fort Worth International Airport</name>
        <lei>N/A</lei>
        <title>DALLAS FORT WORTH INTERNATIONA DALAPT 11/50 ADJUSTABLE VAR</title>
        <cusip>23503CFL6</cusip>
        <identifiers>
          <isin value="US23503CFL63"/>
          <ticker value="DALAPT"/>
        </identifiers>
        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>896306.24</valUSD>
        <pctVal>0.6226151457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>Davie Town of</name>
        <lei>N/A</lei>
        <title>TOWN OF DAVIE FL DAVEDU 04/31 FIXED 5</title>
        <cusip>23867PBL1</cusip>
        <identifiers>
          <isin value="US23867PBL13"/>
          <ticker value="DAVEDU"/>
        </identifiers>
        <balance>330000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>347353.28</valUSD>
        <pctVal>0.2412874120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>SARASOTA COUNTY PUBLIC HOSPITA SARMED 07/33 FIXED 5</name>
        <lei>N/A</lei>
        <title>SARASOTA COUNTY PUBLIC HOSPITA SARMED 07/33 FIXED 5</title>
        <cusip>803301DX5</cusip>
        <identifiers>
          <isin value="US803301DX50"/>
          <ticker value="SARMED"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1162674</valUSD>
        <pctVal>0.8076463263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Sarpy County of</name>
        <lei>N/A</lei>
        <title>COUNTY OF SARPY NE SAR 06/33 FIXED 1.75</title>
        <cusip>80373FMD6</cusip>
        <identifiers>
          <isin value="US80373FMD68"/>
          <ticker value="SAR"/>
        </identifiers>
        <balance>1580000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1392461.27</valUSD>
        <pctVal>0.9672670320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.750000000000</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>Sarpy County of</name>
        <lei>N/A</lei>
        <title>COUNTY OF SARPY NE SAR 06/34 FIXED OID 1.75</title>
        <cusip>80373FME4</cusip>
        <identifiers>
          <isin value="US80373FME42"/>
          <ticker value="SAR"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>864563.2</valUSD>
        <pctVal>0.6005649841</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>1.750000000000</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>VILLAGE COMMUNITY DEVELOPMENT VGEDEV 05/34 FIXED 4</name>
        <lei>N/A</lei>
        <title>VILLAGE COMMUNITY DEVELOPMENT VGEDEV 05/34 FIXED 4</title>
        <cusip>92708KAG2</cusip>
        <identifiers>
          <isin value="US92708KAG22"/>
          <ticker value="VGEDEV"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>258136.95</valUSD>
        <pctVal>0.1793136850</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>Virginia Beach Development Authority</name>
        <lei>N/A</lei>
        <title>VIRGINIA BEACH DEVELOPMENT AUT VBHDEV 09/30 FIXED 6.25</title>
        <cusip>92774NBD1</cusip>
        <identifiers>
          <isin value="US92774NBD12"/>
          <ticker value="VBHDEV"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202045.16</valUSD>
        <pctVal>0.1403497724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</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>Virginia Housing Development Authority</name>
        <lei>N/A</lei>
        <title>VIRGINIA HOUSING DEVELOPMENT A VASHSG 07/56 ADJUSTABLE VAR</title>
        <cusip>92812XRF1</cusip>
        <identifiers>
          <isin value="US92812XRF14"/>
          <ticker value="VASHSG"/>
        </identifiers>
        <balance>665000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>665092.3</valUSD>
        <pctVal>0.4620034100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lancaster County Hospital Authority</name>
        <lei>N/A</lei>
        <title>LANCASTER COUNTY HOSPITAL AUTH LANMED 11/32 FIXED 5</title>
        <cusip>514045Y80</cusip>
        <identifiers>
          <isin value="US514045Y803"/>
          <ticker value="LANMED"/>
        </identifiers>
        <balance>445000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500614.9</valUSD>
        <pctVal>0.3477499152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lancaster Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>LANCASTER INDUSTRIAL DEVELOPME LANMED 07/31 FIXED 4</title>
        <cusip>51434NAP3</cusip>
        <identifiers>
          <isin value="US51434NAP33"/>
          <ticker value="LANMED"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202904.32</valUSD>
        <pctVal>0.1409465840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>Las Varas Public Facility Corporation</name>
        <lei>N/A</lei>
        <title>LAS VARAS PUBLIC FACILITY CORP LAVMFH 11/44 ADJUSTABLE VAR</title>
        <cusip>51766AAQ7</cusip>
        <identifiers>
          <isin value="US51766AAQ76"/>
          <ticker value="LAVMFH"/>
        </identifiers>
        <balance>1700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1707158.87</valUSD>
        <pctVal>1.1858703211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.350000000000</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>LEE COUNTY INDUSTRIAL DEVELOPM LEIMED 04/65 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>LEE COUNTY INDUSTRIAL DEVELOPM LEIMED 04/65 ADJUSTABLE VAR</title>
        <cusip>52350LBB5</cusip>
        <identifiers>
          <isin value="US52350LBB53"/>
          <ticker value="LEIMED"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1140512.3</valUSD>
        <pctVal>0.7922517999</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>LEES SUMMIT INDUSTRIAL DEVELOP LEEFAC 08/27 FIXED 5</name>
        <lei>N/A</lei>
        <title>LEES SUMMIT INDUSTRIAL DEVELOP LEEFAC 08/27 FIXED 5</title>
        <cusip>524292BD0</cusip>
        <identifiers>
          <isin value="US524292BD00"/>
          <ticker value="LEEFAC"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203079.68</valUSD>
        <pctVal>0.1410683971</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Municipal Electric Authority of Georgia</name>
        <lei>JA0WNILDDF2KUPS83B16</lei>
        <title>MUNICIPAL ELECTRIC AUTHORITY O MELPWR 01/29 FIXED 5</title>
        <cusip>62620HBB7</cusip>
        <identifiers>
          <isin value="US62620HBB78"/>
          <ticker value="MELPWR"/>
        </identifiers>
        <balance>10000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10721.55</valUSD>
        <pctVal>0.0074476771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>NEW HAMPSHIRE BUSINESS FINANCE NFAHSG 10/40 ADJUSTABLE VAR</title>
        <cusip>63607DAB2</cusip>
        <identifiers>
          <isin value="US63607DAB29"/>
          <ticker value="NFAHSG"/>
        </identifiers>
        <balance>997514.22</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1017588.6</valUSD>
        <pctVal>0.7068633980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>NEW HAMPSHIRE BUSINESS FINANCE NFAGEN 12/35 FIXED 5.375</title>
        <cusip>63608TAC4</cusip>
        <identifiers>
          <isin value="US63608TAC45"/>
          <ticker value="NFAGEN"/>
        </identifiers>
        <balance>543000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>543117.67</valUSD>
        <pctVal>0.3772742754</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>NEW HAMPSHIRE BUSINESS FINANCE NFAGEN 12/32 ZEROCPNOID 0</title>
        <cusip>63608TAZ3</cusip>
        <identifiers>
          <isin value="US63608TAZ30"/>
          <ticker value="NFAGEN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>317150.55</valUSD>
        <pctVal>0.2203072199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>INDIANA FINANCE AUTHORITY INSMED 10/60 ADJUSTABLE VAR</title>
        <cusip>45470YFM8</cusip>
        <identifiers>
          <isin value="US45470YFM84"/>
          <ticker value="INSMED"/>
        </identifiers>
        <balance>110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>120340.11</valUSD>
        <pctVal>0.0835937225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>INDIANA FINANCE AUTHORITY INSFIN 05/29 FIXED 4.3</title>
        <cusip>45506ENK5</cusip>
        <identifiers>
          <isin value="US45506ENK54"/>
          <ticker value="INSFIN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>513049.95</valUSD>
        <pctVal>0.3563878674</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</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>Jacksonville Housing Authority</name>
        <lei>N/A</lei>
        <title>JACKSONVILLE HOUSING AUTHORITY JACHSG 02/34 FIXED 5</title>
        <cusip>46940XAJ2</cusip>
        <identifiers>
          <isin value="US46940XAJ28"/>
          <ticker value="JACHSG"/>
        </identifiers>
        <balance>950000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1063912.41</valUSD>
        <pctVal>0.7390420268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>JEFFERSON COUNTY PORT AUTHORIT JPADEV 12/53 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>JEFFERSON COUNTY PORT AUTHORIT JPADEV 12/53 ADJUSTABLE VAR</title>
        <cusip>473318AB9</cusip>
        <identifiers>
          <isin value="US473318AB94"/>
          <ticker value="JPADEV"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>307694.4</valUSD>
        <pctVal>0.2137385473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>PALM BEACH COUNTY HEALTH FACIL PALMED 11/29 FIXED 5</name>
        <lei>N/A</lei>
        <title>PALM BEACH COUNTY HEALTH FACIL PALMED 11/29 FIXED 5</title>
        <cusip>69651ABP8</cusip>
        <identifiers>
          <isin value="US69651ABP84"/>
          <ticker value="PALMED"/>
        </identifiers>
        <balance>70000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75285.46</valUSD>
        <pctVal>0.0522967102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Domtar Corporation</name>
        <lei>XYSIJOU3HNVROZWNA008</lei>
        <title>DOMTAR CORP SR SECURED 144A 10/28 6.75</title>
        <cusip>70478JAA2</cusip>
        <identifiers>
          <isin value="US70478JAA25"/>
          <ticker value="UFS"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>114000</valUSD>
        <pctVal>0.0791895933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.750000000000</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>Pflugerville City of</name>
        <lei>N/A</lei>
        <title>CITY OF PFLUGERVILLE TX PFLGEN 09/33 FIXED OID 4.25</title>
        <cusip>71710FAA6</cusip>
        <identifiers>
          <isin value="US71710FAA66"/>
          <ticker value="PFLGEN"/>
        </identifiers>
        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>356333.74</valUSD>
        <pctVal>0.2475256487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</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>Port of Houston Authority</name>
        <lei>N/A</lei>
        <title>PORT AUTHORITY OF HOUSTON OF H PRH 10/32 FIXED 5</title>
        <cusip>7342605K4</cusip>
        <identifiers>
          <isin value="US7342605K44"/>
          <ticker value="PRH"/>
        </identifiers>
        <balance>345000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>364036.38</valUSD>
        <pctVal>0.2528762533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>LEES SUMMIT INDUSTRIAL DEVELOP LEEFAC 08/32 FIXED 5</name>
        <lei>N/A</lei>
        <title>LEES SUMMIT INDUSTRIAL DEVELOP LEEFAC 08/32 FIXED 5</title>
        <cusip>524292BE8</cusip>
        <identifiers>
          <isin value="US524292BE82"/>
          <ticker value="LEEFAC"/>
        </identifiers>
        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>614588.64</valUSD>
        <pctVal>0.4269212671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Main Street Natural Gas Inc.</name>
        <lei>N/A</lei>
        <title>MAIN STREET NATURAL GAS INC MAIUTL 05/26 FIXED 5</title>
        <cusip>56035DBF8</cusip>
        <identifiers>
          <isin value="US56035DBF87"/>
          <ticker value="MAIUTL"/>
        </identifiers>
        <balance>550000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>552641.93</valUSD>
        <pctVal>0.3838902603</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Main Street Natural Gas Inc.</name>
        <lei>N/A</lei>
        <title>MAIN STREET NATURAL GAS INC MAIUTL 09/52 ADJUSTABLE VAR</title>
        <cusip>56035DDX7</cusip>
        <identifiers>
          <isin value="US56035DDX75"/>
          <ticker value="MAIUTL"/>
        </identifiers>
        <balance>460000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>476174.7</valUSD>
        <pctVal>0.3307726389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.000000000000</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>Main Street Natural Gas Inc.</name>
        <lei>N/A</lei>
        <title>MAIN STREET NATURAL GAS INC MAIUTL 07/53 ADJUSTABLE VAR</title>
        <cusip>56035DFC1</cusip>
        <identifiers>
          <isin value="US56035DFC11"/>
          <ticker value="MAIUTL"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>268358.2</valUSD>
        <pctVal>0.1864138308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>Main Street Natural Gas Inc.</name>
        <lei>N/A</lei>
        <title>MAIN STREET NATURAL GAS INC MAIUTL 12/53 ADJUSTABLE VAR</title>
        <cusip>56035DGB2</cusip>
        <identifiers>
          <isin value="US56035DGB29"/>
          <ticker value="MAIUTL"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>543726.9</valUSD>
        <pctVal>0.3776974743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>Main Street Natural Gas Inc.</name>
        <lei>N/A</lei>
        <title>MAIN STREET NATURAL GAS INC MAIUTL 04/54 ADJUSTABLE VAR</title>
        <cusip>56035DHZ8</cusip>
        <identifiers>
          <isin value="US56035DHZ87"/>
          <ticker value="MAIUTL"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>544560.75</valUSD>
        <pctVal>0.3782767045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>Main Street Natural Gas Inc.</name>
        <lei>N/A</lei>
        <title>MAIN STREET NATURAL GAS INC MAIUTL 12/55 ADJUSTABLE VAR</title>
        <cusip>56035DKH4</cusip>
        <identifiers>
          <isin value="US56035DKH43"/>
          <ticker value="MAIUTL"/>
        </identifiers>
        <balance>650000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>708498.18</valUSD>
        <pctVal>0.4921551116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>Finance Authority of Maine</name>
        <lei>N/A</lei>
        <title>FINANCE AUTHORITY OF MAINE MESPOL 08/35 FIXED 5</title>
        <cusip>56042CAZ8</cusip>
        <identifiers>
          <isin value="US56042CAZ86"/>
          <ticker value="MESPOL"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>162386.81</valUSD>
        <pctVal>0.1128012758</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>5.000000000000</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>Maryland Health and Higher Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>MARYLAND HEALTH and HIGHER EDUCA MDSMED 07/45 ADJUSTABLE VAR</title>
        <cusip>57421CAU8</cusip>
        <identifiers>
          <isin value="US57421CAU80"/>
          <ticker value="MDSMED"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50899.72</valUSD>
        <pctVal>0.0353572643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>Maryland Health and Higher Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>MARYLAND HEALTH and HIGHER EDUCA MDSMED 08/56 ADJUSTABLE VAR</title>
        <cusip>57421CNS9</cusip>
        <identifiers>
          <isin value="US57421CNS97"/>
          <ticker value="MDSMED"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1130156.8</valUSD>
        <pctVal>0.7850583978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS DEVELOPMENT FINA MASDEV 05/27 ADJ CNVFIX 1.25</title>
        <cusip>57583HAJ6</cusip>
        <identifiers>
          <isin value="US57583HAJ68"/>
          <ticker value="MASDEV"/>
        </identifiers>
        <balance>3250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3160357.53</valUSD>
        <pctVal>2.1953283112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS DEVELOPMENT FINA MASDEV 09/30 FIXED 5</title>
        <cusip>57584XZ53</cusip>
        <identifiers>
          <isin value="US57584XZ533"/>
          <ticker value="MASDEV"/>
        </identifiers>
        <balance>15000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15579.18</valUSD>
        <pctVal>0.0108220081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>VISTA RIDGE METROPOLITAN DISTR VISFAC 12/36 FIXED OID 4</name>
        <lei>N/A</lei>
        <title>VISTA RIDGE METROPOLITAN DISTR VISFAC 12/36 FIXED OID 4</title>
        <cusip>92838EBC7</cusip>
        <identifiers>
          <isin value="US92838EBC75"/>
          <ticker value="VISFAC"/>
        </identifiers>
        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1507949.4</valUSD>
        <pctVal>1.0474903482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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 and MULTNOMAH COUNTIE WASSCD 06/31 ZEROCPNOID 0</name>
        <lei>N/A</lei>
        <title>WASHINGTON and MULTNOMAH COUNTIE WASSCD 06/31 ZEROCPNOID 0</title>
        <cusip>9384292C0</cusip>
        <identifiers>
          <isin value="US9384292C00"/>
          <ticker value="WASSCD"/>
        </identifiers>
        <balance>105000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>91035.98</valUSD>
        <pctVal>0.0632377389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.000000000000</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 and MULTNOMAH COUNTIE WASSCD 06/32 ZEROCPNOID 0</name>
        <lei>N/A</lei>
        <title>WASHINGTON and MULTNOMAH COUNTIE WASSCD 06/32 ZEROCPNOID 0</title>
        <cusip>9384292D8</cusip>
        <identifiers>
          <isin value="US9384292D82"/>
          <ticker value="WASSCD"/>
        </identifiers>
        <balance>125000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104914.89</valUSD>
        <pctVal>0.0728786620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.000000000000</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 Economic Development Finance Authority</name>
        <lei>N/A</lei>
        <title>WASHINGTON ECONOMIC DEVELOPMEN WASTRN 12/45 ADJUST OID VAR</title>
        <cusip>93975XAA1</cusip>
        <identifiers>
          <isin value="US93975XAA19"/>
          <ticker value="WASTRN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>508452.9</valUSD>
        <pctVal>0.3531945470</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.875000000000</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 State Housing Finance Commission</name>
        <lei>N/A</lei>
        <title>WASHINGTON STATE HOUSING FINAN WASHSG 01/35 FIXED 5</title>
        <cusip>939783Z66</cusip>
        <identifiers>
          <isin value="US939783Z662"/>
          <ticker value="WASHSG"/>
        </identifiers>
        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>351319.22</valUSD>
        <pctVal>0.2440423346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Wayne County Airport Authority</name>
        <lei>N/A</lei>
        <title>WAYNE COUNTY AIRPORT AUTHORITY WAYAPT 12/35 FIXED 5</title>
        <cusip>944514X78</cusip>
        <identifiers>
          <isin value="US944514X784"/>
          <ticker value="WAYAPT"/>
        </identifiers>
        <balance>585000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>675429.12</valUSD>
        <pctVal>0.4691838361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS DEVELOPMENT FINA MASDEV 09/37 FIXED 5</title>
        <cusip>57584YVL0</cusip>
        <identifiers>
          <isin value="US57584YVL00"/>
          <ticker value="MASDEV"/>
        </identifiers>
        <balance>10000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10546.36</valUSD>
        <pctVal>0.0073259821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS DEVELOPMENT FINA MASDEV 12/29 FIXED 5</title>
        <cusip>57585BCZ9</cusip>
        <identifiers>
          <isin value="US57585BCZ94"/>
          <ticker value="MASDEV"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150055.62</valUSD>
        <pctVal>0.1042354695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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 Utility District #1 of Klickitat County</name>
        <lei>N/A</lei>
        <title>KLICKITAT COUNTY PUBLIC UTILIT KLIPWR 12/32 FIXED 5</title>
        <cusip>498622LF4</cusip>
        <identifiers>
          <isin value="US498622LF46"/>
          <ticker value="KLIPWR"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>344871.09</valUSD>
        <pctVal>0.2395631698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>KNOXVILLE INDUSTRIAL DEVELOPME KXVDEV 11/30 FIXED OID 4.25</name>
        <lei>N/A</lei>
        <title>KNOXVILLE INDUSTRIAL DEVELOPME KXVDEV 11/30 FIXED OID 4.25</title>
        <cusip>499790AA1</cusip>
        <identifiers>
          <isin value="US499790AA14"/>
          <ticker value="KXVDEV"/>
        </identifiers>
        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>752474.1</valUSD>
        <pctVal>0.5227027890</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</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>LAKE HOUSTON REDEVELOPMENT AUT LKHDEV 09/35 FIXED 4</name>
        <lei>N/A</lei>
        <title>LAKE HOUSTON REDEVELOPMENT AUT LKHDEV 09/35 FIXED 4</title>
        <cusip>51001QAM6</cusip>
        <identifiers>
          <isin value="US51001QAM69"/>
          <ticker value="LKHDEV"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50468.34</valUSD>
        <pctVal>0.0350576081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lancaster County Hospital Authority</name>
        <lei>N/A</lei>
        <title>LANCASTER COUNTY HOSPITAL AUTH LANMED 07/28 FIXED 4.25</title>
        <cusip>514045R70</cusip>
        <identifiers>
          <isin value="US514045R708"/>
          <ticker value="LANMED"/>
        </identifiers>
        <balance>70000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70114.93</valUSD>
        <pctVal>0.0487050245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>NEW YORK STATE DORMITORY AUTHO NYSHGR 07/54 FIXED 5.5</title>
        <cusip>65000BW38</cusip>
        <identifiers>
          <isin value="US65000BW384"/>
          <ticker value="NYSHGR"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>545633.3</valUSD>
        <pctVal>0.3790217466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New York Transportation Development Corporation</name>
        <lei>N/A</lei>
        <title>NEW YORK TRANSPORTATION DEVELO NYTTRN 12/26 FIXED 5</title>
        <cusip>650116FA9</cusip>
        <identifiers>
          <isin value="US650116FA97"/>
          <ticker value="NYTTRN"/>
        </identifiers>
        <balance>30000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30499.88</valUSD>
        <pctVal>0.0211866061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Newark Higher Education Finance Corporation</name>
        <lei>N/A</lei>
        <title>NEWARK HIGHER EDUCATION FINANC NEWEDU 08/29 FIXED OID 4.375</title>
        <cusip>650346DA4</cusip>
        <identifiers>
          <isin value="US650346DA42"/>
          <ticker value="NEWEDU"/>
        </identifiers>
        <balance>210000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210027.28</valUSD>
        <pctVal>0.1458945165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</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>BROOKS DEVELOPMENT AUTHORITY BRKDEV 08/47 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>BROOKS DEVELOPMENT AUTHORITY BRKDEV 08/47 ADJUSTABLE VAR</title>
        <cusip>114390AK3</cusip>
        <identifiers>
          <isin value="US114390AK37"/>
          <ticker value="BRKDEV"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>265939.15</valUSD>
        <pctVal>0.1847334485</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COUNTY OF BROWARD FL PORT FACI BROTRN 09/28 FIXED 5</name>
        <lei>N/A</lei>
        <title>COUNTY OF BROWARD FL PORT FACI BROTRN 09/28 FIXED 5</title>
        <cusip>11506KEW7</cusip>
        <identifiers>
          <isin value="US11506KEW71"/>
          <ticker value="BROTRN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>525102.2</valUSD>
        <pctVal>0.3647599093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>The Development Authority of Burke County</name>
        <lei>N/A</lei>
        <title>DEVELOPMENT AUTHORITY OF BURKE BURPOL 01/40 ADJUSTABLE VAR</title>
        <cusip>121342NR6</cusip>
        <identifiers>
          <isin value="US121342NR62"/>
          <ticker value="BURPOL"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>516102.2</valUSD>
        <pctVal>0.3585080993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.600000000000</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>CABOT CITRUS FARMS COMMUNITY D CCFDEV 03/29 FIXED 5.25</name>
        <lei>N/A</lei>
        <title>CABOT CITRUS FARMS COMMUNITY D CCFDEV 03/29 FIXED 5.25</title>
        <cusip>127052AA6</cusip>
        <identifiers>
          <isin value="US127052AA63"/>
          <ticker value="CCFDEV"/>
        </identifiers>
        <balance>790000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>801596.17</valUSD>
        <pctVal>0.5568252166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</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>CALIFORNIA COMMUNITY CHOICE FI CCEDEV 02/55 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>CALIFORNIA COMMUNITY CHOICE FI CCEDEV 02/55 ADJUSTABLE VAR</title>
        <cusip>13013JEP7</cusip>
        <identifiers>
          <isin value="US13013JEP75"/>
          <ticker value="CCEDEV"/>
        </identifiers>
        <balance>640000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>700037.5</valUSD>
        <pctVal>0.4862779379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>CALIFORNIA COMMUNITY CHOICE FI CCEDEV 02/55 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>CALIFORNIA COMMUNITY CHOICE FI CCEDEV 02/55 ADJUSTABLE VAR</title>
        <cusip>13013JFR2</cusip>
        <identifiers>
          <isin value="US13013JFR23"/>
          <ticker value="CCEDEV"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>329319.9</valUSD>
        <pctVal>0.2287606048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Hampshire Health and Education Facilities Authority Act</name>
        <lei>549300CNCK7OT82W5653</lei>
        <title>NEW HAMPSHIRE HEALTH AND EDUCA NHSMED 07/33 FIXED OID 3.375</title>
        <cusip>64461XBM6</cusip>
        <identifiers>
          <isin value="US64461XBM65"/>
          <ticker value="NHSMED"/>
        </identifiers>
        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25291.1</valUSD>
        <pctVal>0.0175683502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Hampshire Health and Education Facilities Authority Act</name>
        <lei>549300CNCK7OT82W5653</lei>
        <title>NEW HAMPSHIRE HEALTH AND EDUCA NHSMED 07/34 FIXED OID 3.5</title>
        <cusip>64461XBN4</cusip>
        <identifiers>
          <isin value="US64461XBN49"/>
          <ticker value="NHSMED"/>
        </identifiers>
        <balance>175000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>177322.16</valUSD>
        <pctVal>0.1231760503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>CALIFORNIA COMMUNITY CHOICE FI CCEDEV 01/56 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>CALIFORNIA COMMUNITY CHOICE FI CCEDEV 01/56 ADJUSTABLE VAR</title>
        <cusip>13013JFW1</cusip>
        <identifiers>
          <isin value="US13013JFW18"/>
          <ticker value="CCEDEV"/>
        </identifiers>
        <balance>515000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>574506.09</valUSD>
        <pctVal>0.3990781019</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>CALIFORNIA COMMUNITY CHOICE FI CCEDEV 12/55 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>CALIFORNIA COMMUNITY CHOICE FI CCEDEV 12/55 ADJUSTABLE VAR</title>
        <cusip>13013JHD1</cusip>
        <identifiers>
          <isin value="US13013JHD19"/>
          <ticker value="CCEDEV"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>542464.95</valUSD>
        <pctVal>0.3768208664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Hampshire Health and Education Facilities Authority Act</name>
        <lei>549300CNCK7OT82W5653</lei>
        <title>NEW HAMPSHIRE HEALTH AND EDUCA NHSMED 06/40 ADJUSTABLE VAR</title>
        <cusip>64461XJY2</cusip>
        <identifiers>
          <isin value="US64461XJY22"/>
          <ticker value="NHSMED"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>251813.18</valUSD>
        <pctVal>0.1749209062</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.300000000000</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>JH COLLATERAL</name>
        <lei>N/A</lei>
        <title>JH COLLATERAL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="926EMC902"/>
        </identifiers>
        <balance>1004730.48</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10050318.99</valUSD>
        <pctVal>6.9814094151</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA COMMUNITY CHOICE FI CCEDEV 11/33 FIXED 5</name>
        <lei>N/A</lei>
        <title>CALIFORNIA COMMUNITY CHOICE FI CCEDEV 11/33 FIXED 5</title>
        <cusip>13013JHH2</cusip>
        <identifiers>
          <isin value="US13013JHH23"/>
          <ticker value="CCEDEV"/>
        </identifiers>
        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>774651.64</valUSD>
        <pctVal>0.5381083186</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>5.000000000000</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>CALIFORNIA COMMUNITY CHOICE FI CCEDEV 03/36 FIXED 5</name>
        <lei>N/A</lei>
        <title>CALIFORNIA COMMUNITY CHOICE FI CCEDEV 03/36 FIXED 5</title>
        <cusip>13013JHM1</cusip>
        <identifiers>
          <isin value="US13013JHM18"/>
          <ticker value="CCEDEV"/>
        </identifiers>
        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2179497.4</valUSD>
        <pctVal>1.5139781816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>California Infrastructure and Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA INFRASTRUCTURE and EC CASDEV 08/29 FIXED 3.25</title>
        <cusip>13034A5B2</cusip>
        <identifiers>
          <isin value="US13034A5B23"/>
          <ticker value="CASDEV"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>307377.09</valUSD>
        <pctVal>0.2135181293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</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>California Infrastructure and Economic Development Bank</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA INFRASTRUCTURE and EC CASDEV 01/65 ADJUSTABLE VAR</title>
        <cusip>13034A7E4</cusip>
        <identifiers>
          <isin value="US13034A7E44"/>
          <ticker value="CASDEV"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>540000</valUSD>
        <pctVal>0.3751085998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>12.000000000000</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>California Housing Finance</name>
        <lei>N/A</lei>
        <title>CALIFORNIA HOUSING FINANCE AGE CASMFH 12/27 FIXED 5.2</title>
        <cusip>13034DAG9</cusip>
        <identifiers>
          <isin value="US13034DAG97"/>
          <ticker value="CASMFH"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509450.95</valUSD>
        <pctVal>0.3538878380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</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>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA MUNICIPAL FINANCE A CASFIN 07/32 FIXED OID 3.5</title>
        <cusip>13048T4E0</cusip>
        <identifiers>
          <isin value="US13048T4E05"/>
          <ticker value="CASFIN"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100147.12</valUSD>
        <pctVal>0.0695667518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA MUNICIPAL FINANCE A CASFIN 12/32 FIXED OID 3.25</title>
        <cusip>13048VBS6</cusip>
        <identifiers>
          <isin value="US13048VBS60"/>
          <ticker value="CASFIN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>496550.2</valUSD>
        <pctVal>0.3449263894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</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>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA MUNICIPAL FINANCE A CASEDU 06/34 FIXED 5</title>
        <cusip>130497BA7</cusip>
        <identifiers>
          <isin value="US130497BA77"/>
          <ticker value="CASEDU"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>268948.63</valUSD>
        <pctVal>0.1868239704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA MUNICIPAL FINANCE A CASFIN 07/29 FIXED 4</title>
        <cusip>13050RAA0</cusip>
        <identifiers>
          <isin value="US13050RAA05"/>
          <ticker value="CASFIN"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101948.32</valUSD>
        <pctVal>0.0708179474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>California Pollution Control Financing Authority</name>
        <lei>N/A</lei>
        <title>CALIFORNIA POLLUTION CONTROL F CASPOL 11/42 ADJUSTABLE VAR</title>
        <cusip>130536RC1</cusip>
        <identifiers>
          <isin value="US130536RC13"/>
          <ticker value="CASPOL"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000174.6</valUSD>
        <pctVal>0.6947668403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.250000000000</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>CALIFORNIA SCHOOL FINANCE AUTH CASSCD 07/36 FIXED 5</name>
        <lei>N/A</lei>
        <title>CALIFORNIA SCHOOL FINANCE AUTH CASSCD 07/36 FIXED 5</title>
        <cusip>13059TCQ0</cusip>
        <identifiers>
          <isin value="US13059TCQ04"/>
          <ticker value="CASSCD"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300253.71</valUSD>
        <pctVal>0.2085699051</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>5.000000000000</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>Little Rock School District</name>
        <lei>N/A</lei>
        <title>LITTLE ROCK SCHOOL DISTRICT LITSCD 02/28 FIXED 3</title>
        <cusip>537428V35</cusip>
        <identifiers>
          <isin value="US537428V354"/>
          <ticker value="LITSCD"/>
        </identifiers>
        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>350040.71</valUSD>
        <pctVal>0.2431542234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>Louisiana Housing Corporation</name>
        <lei>N/A</lei>
        <title>LOUISIANA HOUSING CORP LASMFH 07/44 ADJUSTABLE VAR</title>
        <cusip>54627CCJ0</cusip>
        <identifiers>
          <isin value="US54627CCJ09"/>
          <ticker value="LASMFH"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1008105.2</valUSD>
        <pctVal>0.7002757964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COUNTY OF MIAMI-DADE FL AVIATI MIATRN 10/30 FIXED 5</name>
        <lei>N/A</lei>
        <title>COUNTY OF MIAMI-DADE FL AVIATI MIATRN 10/30 FIXED 5</title>
        <cusip>59333P7G7</cusip>
        <identifiers>
          <isin value="US59333P7G74"/>
          <ticker value="MIATRN"/>
        </identifiers>
        <balance>255000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>280949.92</valUSD>
        <pctVal>0.1951606132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COUNTY OF MIAMI-DADE FL AVIATI MIATRN 10/34 FIXED 5</name>
        <lei>N/A</lei>
        <title>COUNTY OF MIAMI-DADE FL AVIATI MIATRN 10/34 FIXED 5</title>
        <cusip>59333P7L6</cusip>
        <identifiers>
          <isin value="US59333P7L69"/>
          <ticker value="MIATRN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>577589.4</valUSD>
        <pctVal>0.4012199095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>MIAMI-DADE COUNTY HOUSING FINA MIAMFH 08/29 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>MIAMI-DADE COUNTY HOUSING FINA MIAMFH 08/29 ADJUSTABLE VAR</title>
        <cusip>593344DL5</cusip>
        <identifiers>
          <isin value="US593344DL50"/>
          <ticker value="MIAMFH"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1008526.9</valUSD>
        <pctVal>0.7005687284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.150000000000</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>Michigan Finance Authority</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>MICHIGAN FINANCE AUTHORITY MISFIN 10/38 ADJUSTABLE VAR</title>
        <cusip>59447TU68</cusip>
        <identifiers>
          <isin value="US59447TU688"/>
          <ticker value="MISFIN"/>
        </identifiers>
        <balance>385000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>370035.94</valUSD>
        <pctVal>0.2570438210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.200000000000</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>MICHIGAN STATE HOSPITAL FINANC MISMED 08/55 ADJUSTABLE VAR</name>
        <lei>N/A</lei>
        <title>MICHIGAN STATE HOSPITAL FINANC MISMED 08/55 ADJUSTABLE VAR</title>
        <cusip>59465HXE1</cusip>
        <identifiers>
          <isin value="US59465HXE16"/>
          <ticker value="MISMED"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>224444.52</valUSD>
        <pctVal>0.1559093882</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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>Michigan Strategic Fund</name>
        <lei>N/A</lei>
        <title>MICHIGAN STRATEGIC FUND MISGEN 12/32 FIXED 5</title>
        <cusip>594698QN5</cusip>
        <identifiers>
          <isin value="US594698QN53"/>
          <ticker value="MISGEN"/>
        </identifiers>
        <balance>35000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36560.07</valUSD>
        <pctVal>0.0253962901</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Wayne County Airport Authority</name>
        <lei>N/A</lei>
        <title>WAYNE COUNTY AIRPORT AUTHORITY WAYAPT 12/36 FIXED 5</title>
        <cusip>944514X86</cusip>
        <identifiers>
          <isin value="US944514X867"/>
          <ticker value="WAYAPT"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>343580.13</valUSD>
        <pctVal>0.2386664102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Whiting City of</name>
        <lei>N/A</lei>
        <title>CITY OF WHITING IN WHGFAC 03/46 ADJUSTABLE VAR</title>
        <cusip>96634RAX0</cusip>
        <identifiers>
          <isin value="US96634RAX08"/>
          <ticker value="WHGFAC"/>
        </identifiers>
        <balance>225000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>238957.63</valUSD>
        <pctVal>0.1659908556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.400000000000</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>WINTER GARDEN VILLAGE AT FOWLE WVGDEV 05/31 FIXED OID 3.75</name>
        <lei>N/A</lei>
        <title>WINTER GARDEN VILLAGE AT FOWLE WVGDEV 05/31 FIXED OID 3.75</title>
        <cusip>975795AC9</cusip>
        <identifiers>
          <isin value="US975795AC99"/>
          <ticker value="WVGDEV"/>
        </identifiers>
        <balance>220000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>220145.18</valUSD>
        <pctVal>0.1529228708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</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>Wisconsin Health and Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
        <title>WISCONSIN HEALTH and EDUCATIONAL WISMED 08/28 FIXED 4.2</title>
        <cusip>97712JJH7</cusip>
        <identifiers>
          <isin value="US97712JJH77"/>
          <ticker value="WISMED"/>
        </identifiers>
        <balance>190000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>190066.5</valUSD>
        <pctVal>0.1320288494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</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>Unified Government of Wyandotte County Kansas City Kansas</name>
        <lei>N/A</lei>
        <title>WYANDOTTE COUNTY-KANSAS CITY U WYAGEN 03/36 FIXED OID 4</title>
        <cusip>98267VDN0</cusip>
        <identifiers>
          <isin value="US98267VDN01"/>
          <ticker value="WYAGEN"/>
        </identifiers>
        <balance>550000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>552280.52</valUSD>
        <pctVal>0.3836392085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>Fort Mill School District 4</name>
        <lei>N/A</lei>
        <title>FORT MILL SCHOOL DISTRICT NO 4 YORSCD 03/31 FIXED 3</title>
        <cusip>986525WR0</cusip>
        <identifiers>
          <isin value="US986525WR09"/>
          <ticker value="YORSCD"/>
        </identifiers>
        <balance>220000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>220933.81</valUSD>
        <pctVal>0.1534706891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>Waynesville R-VI School District</name>
        <lei>N/A</lei>
        <title>WAYNESVILLE R-VI SCHOOL DISTRI PULEDU 04/30 FIXED 5</title>
        <cusip>74549PAD9</cusip>
        <identifiers>
          <isin value="US74549PAD96"/>
          <ticker value="PULEDU"/>
        </identifiers>
        <balance>140000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153048.2</valUSD>
        <pctVal>0.1063142519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>MIDA MOUNTAIN VILLAGE PUBLIC I MMVDEV 06/35 INT APROID VAR</name>
        <lei>N/A</lei>
        <title>MIDA MOUNTAIN VILLAGE PUBLIC I MMVDEV 06/35 INT APROID VAR</title>
        <cusip>59561UAJ9</cusip>
        <identifiers>
          <isin value="US59561UAJ97"/>
          <ticker value="MMVDEV"/>
        </identifiers>
        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>278627.93</valUSD>
        <pctVal>0.1935476531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.000000000000</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>Mississippi Development Bank</name>
        <lei>N/A</lei>
        <title>MISSISSIPPI DEVELOPMENT BANK MSSDEV 11/39 FIXED 4.55</title>
        <cusip>60534WP69</cusip>
        <identifiers>
          <isin value="US60534WP692"/>
          <ticker value="MSSDEV"/>
        </identifiers>
        <balance>195000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199195.93</valUSD>
        <pctVal>0.1383705674</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Montgomery County Higher Education and Health Authority</name>
        <lei>N/A</lei>
        <title>MONTGOMERY COUNTY HIGHER EDUCA MONHGR 09/26 FIXED 5</title>
        <cusip>613603ZV4</cusip>
        <identifiers>
          <isin value="US613603ZV47"/>
          <ticker value="MONHGR"/>
        </identifiers>
        <balance>230000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232915.89</valUSD>
        <pctVal>0.1617939877</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>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MONTGOMERY COUNTY MUNICIPAL UT MONUTL 09/29 FIXED 5</name>
        <lei>N/A</lei>
        <title>MONTGOMERY COUNTY MUNICIPAL UT MONUTL 09/29 FIXED 5</title>
        <cusip>61370SGH9</cusip>
        <identifiers>
          <isin value="US61370SGH94"/>
          <ticker value="MONUTL"/>
        </identifiers>
        <balance>120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>129554.94</valUSD>
        <pctVal>0.0899947632</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>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>Port of Seattle WA</name>
        <lei>N/A</lei>
        <title>PORT OF SEATTLE WA PTSGEN 08/26 FIXED 5</title>
        <cusip>735389T81</cusip>
        <identifiers>
          <isin value="US735389T816"/>
          <ticker value="PTSGEN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>505194.2</valUSD>
        <pctVal>0.3509309056</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>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Prairie Village</name>
        <lei>N/A</lei>
        <title>CITY OF PRAIRIE VILLAGE KS PRVGEN 04/36 FIXED OID 3.125</title>
        <cusip>73971FAB4</cusip>
        <identifiers>
          <isin value="US73971FAB40"/>
          <ticker value="PRVGEN"/>
        </identifiers>
        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>344179.68</valUSD>
        <pctVal>0.2390828849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.125000000000</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 Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FINANCE AUTHORITY PUBFIN 06/28 FIXED 5</title>
        <cusip>74439YFE6</cusip>
        <identifiers>
          <isin value="US74439YFE68"/>
          <ticker value="PUBFIN"/>
        </identifiers>
        <balance>315000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>329943.79</valUSD>
        <pctVal>0.2291939872</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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 Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FINANCE AUTHORITY PUBFIN 06/30 FIXED 5</title>
        <cusip>74439YGD7</cusip>
        <identifiers>
          <isin value="US74439YGD76"/>
          <ticker value="PUBFIN"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210070.84</valUSD>
        <pctVal>0.1459247753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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 Energy Authority Of Kentucky Inc.</name>
        <lei>N/A</lei>
        <title>KENTUCKY PUBLIC ENERGY AUTHORI KYSPWR 05/55 ADJUSTABLE VAR</title>
        <cusip>74440DEL4</cusip>
        <identifiers>
          <isin value="US74440DEL47"/>
          <ticker value="KYSPWR"/>
        </identifiers>
        <balance>260000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>278585.94</valUSD>
        <pctVal>0.1935184850</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</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 Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FINANCE AUTHORITY PUBGEN 12/34 ZEROCPNOID 0</title>
        <cusip>74442PL45</cusip>
        <identifiers>
          <isin value="US74442PL455"/>
          <ticker value="PUBGEN"/>
        </identifiers>
        <balance>295000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>177499.44</valUSD>
        <pctVal>0.1232991971</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.000000000000</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>GRAND RAPIDS ECONOMIC DEVELOPM GRADEV 11/30 FIXED 4.75</name>
        <lei>N/A</lei>
        <title>GRAND RAPIDS ECONOMIC DEVELOPM GRADEV 11/30 FIXED 4.75</title>
        <cusip>386246HL9</cusip>
        <identifiers>
          <isin value="US386246HL96"/>
          <ticker value="GRADEV"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501581.35</valUSD>
        <pctVal>0.3484212554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</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 Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FINANCE AUTHORITY PUBGEN 12/39 ZEROCPNOID 0</title>
        <cusip>74442PS48</cusip>
        <identifiers>
          <isin value="US74442PS484"/>
          <ticker value="PUBGEN"/>
        </identifiers>
        <balance>327000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>136438.53</valUSD>
        <pctVal>0.0947764184</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.000000000000</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 Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FINANCE AUTHORITY PUBGEN 12/31 FIXED 5</title>
        <cusip>74442PV69</cusip>
        <identifiers>
          <isin value="US74442PV694"/>
          <ticker value="PUBGEN"/>
        </identifiers>
        <balance>550000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>606535.38</valUSD>
        <pctVal>0.4213271058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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 Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FINANCE AUTHORITY PUBGEN 12/32 FIXED 5</title>
        <cusip>74442PV77</cusip>
        <identifiers>
          <isin value="US74442PV777"/>
          <ticker value="PUBGEN"/>
        </identifiers>
        <balance>550000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>610333.96</valUSD>
        <pctVal>0.4239657725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>UTAH INFRASTRUCTURE AGENCY UTSFAC 10/29 FIXED 5</name>
        <lei>N/A</lei>
        <title>UTAH INFRASTRUCTURE AGENCY UTSFAC 10/29 FIXED 5</title>
        <cusip>917467BD3</cusip>
        <identifiers>
          <isin value="US917467BD39"/>
          <ticker value="UTSFAC"/>
        </identifiers>
        <balance>135000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>143699.01</valUSD>
        <pctVal>0.0998198786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>UTAH INFRASTRUCTURE AGENCY UTSFAC 10/28 FIXED 4</name>
        <lei>N/A</lei>
        <title>UTAH INFRASTRUCTURE AGENCY UTSFAC 10/28 FIXED 4</title>
        <cusip>917467BT8</cusip>
        <identifiers>
          <isin value="US917467BT80"/>
          <ticker value="UTSFAC"/>
        </identifiers>
        <balance>140000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>142433.82</valUSD>
        <pctVal>0.0989410200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>Utah State of</name>
        <lei>N/A</lei>
        <title>STATE OF UTAH UTS 07/34 FIXED 3</title>
        <cusip>917542WU2</cusip>
        <identifiers>
          <isin value="US917542WU24"/>
          <ticker value="UTS"/>
        </identifiers>
        <balance>1250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1247763.13</valUSD>
        <pctVal>0.8667531122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>Vermont Economic Development Authority</name>
        <lei>N/A</lei>
        <title>VERMONT ECONOMIC DEVELOPMENT A VTSPOL 06/52 ADJUSTABLE VAR</title>
        <cusip>924157AD2</cusip>
        <identifiers>
          <isin value="US924157AD23"/>
          <ticker value="VTSPOL"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>257442.5</valUSD>
        <pctVal>0.1788312884</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.375000000000</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="Returns are reported without deduction of sales loads and redemption fees, if applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-27</ncom:dateSigned>
      <ncom:nameOfApplicant>John Hancock Municipal Securities Trust</ncom:nameOfApplicant>
      <ncom:signature>/s/Salvatore Schiavone</ncom:signature>
      <ncom:signerName>Salvatore Schiavone</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
